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VW brand expects growth in fourth quarter after third quarter earnings double

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VW brand expects growth in fourth quarter after third quarter earnings double

VW brand expects growth in fourth quarter after third quarter earnings double
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BERLIN (Reuters) – Volkswagen <VOWG_p.DE> expects profit and sales at its main autos division to keep growing in the fourth quarter after core earnings doubled in the three months ended Sept. 30, it said. VW’s largest division by revenue lifted its profit guidance, saying it now expects the operating margin to moderately exceed a 2.5-to-3.5 percent target range after previously guiding for the profitability benchmark to come in at the upper end of that corridor. “For the remainder of the year, the brand management board expects the positive business development of the first three quarters to continue,” the VW brand said on Monday. Fixed costs at the VW brand were flat in the July-to-September period despite growing model launches, the carmaker said, without being more specific.

(Reporting by Andreas Cremer; Editing by Maria Sheahan)
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