Volkswagen's revenues grow to €170.9bn, profits rise by 17.4%

By Johan De Mulder

Volkswagen Group enjoyed a strong first nine months of 2017, recording a 17.4% increase in profits to €13.2bn before special items.

The German carmaker's revenues rose to €170.9bn as it sold 2.6mn of its own brand vehicles as well as over 1mn Audis and 700,000 of its Skoda fleet.

Figures are offset, however, by the ongoing costs from the diesel emissions scandal, with Volkswagen taking a €2.6bn special items hit in the same period.

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"Our operating business is strong, our financial position robust," said CEO Matthias Müller. "With our ‘TOGETHER – Strategy 2025’ we have a compelling plan for the future that is being implemented.

"Yet the latest interim financial statements also show what we can jointly achieve in our brand alliance, even under difficult conditions.

"If we continue to collaborate closely and make even better use of the synergies available in the Group, this will become a critical factor for success in the profound structural transformation our industry is undergoing."

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