QUANZHOU YISHENG MACHINERY CO.,LTD Automechanika
Shanghai 2019
On January 22, Volkswagen Group stated that due to the epidemic, its profit in 2020 will almost be halved, but thanks to the rebound in sales of high-end cars in China and the increase in vehicle deliveries in the fourth quarter, the group ultimately maintained profitability.
In 2020, excluding the “diesel door” related costs, Volkswagen Group’s operating profit fell 48.2% from 19.3 billion U.S. dollars in 2019 to 10 billion euros (approximately 12.2 billion U.S. dollars). Refinitiv Eikon data, which is higher than analysts' expectations of 4.8 billion euros.
Volkswagen Group stated in a statement that last year its automotive division had a net cash flow of approximately 6 billion euros, and vehicle deliveries increased at the end of the year. Jefferies Investment Bank analysts stated in the report: “The increase in car deliveries is welcome and will support the industry’s upcoming full-year performance report.” This positive manifestation has shown that Volkswagen and the automotive industry are drawing on this turbulent 2020. It's a full stop.
Due to the impact of the epidemic, Volkswagen's sales fell in the second quarter and an operating loss, and subsequently resumed operating profit driven by the soaring demand for luxury cars in China, and turned losses into profits in the third quarter. According to data from the European Automobile Manufacturers Association, Volkswagen Group's car sales in December 2020 increased by 9.7%, while the number of new car registrations in Europe fell by nearly 4% during the same period.
After the financial report data was announced on January 22, the stock price of Volkswagen Group rose 2.7% in midday trading to 166.4 euros per share, a record high in 11 months. Volkswagen Group will announce the specific 2020 financial report on March 16.
Volkswagen’s major shareholder Porsche Cars Holdings said that thanks to the performance of the Volkswagen Group, it may achieve good after-tax operating profits in 2020. The company holds a 31.4% stake in the Volkswagen Group and has 53.1% of the voting rights.
Volkswagen’s truck division Traton last year’s adjusted operating profit was 135 million euros, much higher than the loss of 625 million euros previously predicted by analysts. Traton said, 'Sales have continued to recover strongly in the fourth quarter.'
Due to the epidemic (including global chip shortages and epidemic lockdown measures in different markets), the Volkswagen Group and its competitors are still facing challenges, which means that 2021 will also be a difficult year. The Volkswagen Group is also facing fierce competition in the development of electric vehicles and autonomous vehicles. After the merger of FCA and PSA, Stellattis became the world's fourth largest automaker, which also increased the pressure on the public.
On January 21st, Volkswagen said that in 2020, if it fails to meet the carbon dioxide emission target set by the European Union for its passenger car fleet, it may face a fine of more than 100 million euros.
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