Volkswagen H1 profit gains 6.7% on record vehicle sales

Volkswagen's first-half underlying profit rose 6.7 percent on record vehicle sales as Europe's biggest car maker kept to goals of increasing revenue and matching last year's record profit.

Operating profit rose to 6.49 billion euros from 6.09 billion a year earlier, the company said on Thursday. That was better than a 6.41 billion euro consensus in a Reuters poll.

Benefiting from its broad presence in China, the United States and Latin America, VW group revenue surged 22.6 percent to 95.38 billion euros on growing sales of models such as the VW Tiguan and Audi Q3 compact SUVs and Audi's A6 sedan. First-half deliveries were up 8.9 percent to 4.45 million autos.

 

Yet, the German manufacturer is bracing for a tougher second half as the euro zone's deepening debt crisis saps consumer demand and triggered increasing discountng among mass makers.