Germany Volkswagen January-March financial results Operating income fell by nearly 80% April 29, 20:30
For the three months until the end of last month, one of Germany's leading automobile manufacturers, Volkswagen, operating income fell by nearly 80% due to a significant drop in sales, mainly in the Chinese market.
According to Volkswagen's announcement on January 29 and the results from January to March, sales were 550% lower than the same period last year at € 55 billion, and the Japanese yen was more than 6.3 trillion yen.
In addition, operating income decreased by 76.6% to 900 million euros or approximately 104 billion yen. This is because the number of vehicles sold worldwide, mainly in the Chinese market, decreased by approximately 590,000 units, or 23%, compared to the same period last year due to the influence of the new coronavirus.
Volkswagen had previously ceased production at many factories around the world, but in Germany, the main factories have begun to operate due to the relaxation of measures due to restrictions on going out, and in the future, step by step outside Europe as well. We plan to resume production.
However, the sales volume for one year is said to be “significantly reduced”, and the manufacturer, which has become the world's largest sales volume for the fourth consecutive year until last year, is in a difficult business environment.