Return to site

VW Weathers Pandemic with $10.7B Profit

Volkswagen announced on Friday that they beat their expected profit, greatly in part to its largest single market China, recovering rapidly after the pandemic as well as the resilient sales of luxury vehicles. They plan to carry this momentum into the rest of the year, assuming a decline in COVID-19 spread. Results like these highlight the uneven impact of this pandemic, as other big German car makers such as VW, BMW, Porche, and Daimler remained highly profitable while tourism, hospitality, air travel and the everyday person were hit unprecedentedly hard. | Read more