Stellar Q1 performance for Audi and Porsche
Volkswagen Group‘s first-quarter operating profit rose 22 percent from a year earlier, as earnings from the Porsche and Audi brands helped to offset falling profitability at the automaker’s core VW brand.
Porsche’s profit rose to 698 million euros ($967.4 million) from 573 million. Bentley’s operating profit increased to 45 million euros ($62.4 million) from 27 million.
Audi’s operating profit at 1.3 billion euros ($1.8 billion) was the same as in the first quarter of 2013, impacted by high upfront investments in new products and technologies, as well as in the expansion of Audi’s production network outside Germany.