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Herbert Diess said the group is targeting pre-crisis levels in key performance indicators this year, but warned a semiconductor shortage and the ongoing coronavirus pandemic would still affect profit.
Herbert Diess said the group is targeting pre-crisis levels in key performance indicators this year, but warned a semiconductor shortage and the ongoing coronavirus pandemic would still affect profit.
VW expects strong rebound in sales, deliveries in 2021
Reuters
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FRANKFURT Volkswagen Group said it expects revenues and deliveries to rebound strongly in the current year, shrugging off the impact of the coronavirus pandemic.
The automaker also said its operating profit, stripping out special items related to the diesel scandal, fell 45 percent to 10.6 billion euros ($12.83 billion) last year.
VW is projecting an operating margin of 5 percent to 6.5 percent for 2021 and aiming for the higher end of that range, according to a statement issued after the automaker s supervisory board meeting on Friday. We intend to carry over the strong momentum from the significantly better second half into the current year, Chief Financial Officer Frank Witter said in the statement. The programs for reducing our fixed costs and in procurement will make us more robust in the long term, he said.