Volkswagen increases profits

Volkswagen Group, Europe's largest carmaker, recorded a profit of 3.4 billion euros (up 6.6 times from a year earlier) in the first quarter, Report states, citing Prime.

According to the company, operating profit for the period amounted to 4.81 billion euros, or 6.51 euros per share, five times more than the same period last year.

Sales are expected to increase in the coming period, despite the challenging market situation and increased competition.

The Volkswagen Group includes brands such as Volkswagen, Audi, Skoda, Seat, as well as well-known luxury brands such as Lamborghini, Bentley, and Bugatti. In addition, trucks under the brands Volkswagen Commercial Vehicles and Scania are also produced.