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MarketScreener Homepage  >  Equities  >  Xetra  >  Volkswagen    VOW3   DE0007664039

VOLKSWAGEN (VOW3)
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Volkswagen : deliveries grow 10.6 percent in July; 908,200 vehicles handed over to customers in July; Growth in Germany, France, Italy and Brazil tops 35 percent in July; Over 6.4 million vehicles delivered since beginning of year (+7.5 percent)

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08/17/2018 | 05:26pm CEST

Fred Kappler, Head of Group Sales: 'We are working flat out to keep the anticipated effects of the new WLTP testing procedure in the coming months as low as possible.'

The Volkswagen Group and its brands continued on their growth path at the start of the second half-year. Deliveries in July rose 10.6 percent to 908,200 new vehicles. Over 6.4 million vehicles have been handed over to customers since the beginning of the year - 7.5 percent higher than the comparable period in 2017. 'July was a strong month for the Group with all brands reporting clear gains. This is to some extent due to a one-off effect - namely the brands' special sales programs for NEDC vehicles', Fred Kappler, Head of Group Sales at Volkswagen Aktiengesellschaft, said. 'Looking ahead, the challenges remain. We are working flat out to keep the anticipated effects of the new WLTP testing procedure in the coming months as low as possible', Kappler added.

Group deliveries in Europe rose significantly in July on the back of growth in excess of 35 percent in Germany, France and Italy: 408,300 new vehicles were handed over to customers, representing an increase of 24.2 percent compared with the previous year. 134,800 of these vehicles (+38.3 percent) were delivered in the home market of Germany. 68,500 units were handed over to customers in Central and Eastern Europe in July, an increase of 19.4 percent. Group brands delivered over 2.8 million new vehicles to customers in Europe from January to July (+8.7 percent).

Deliveries in the North America region in the first seven months remained on a par with the previous year: 546,400 new vehicles were handed over to customers (+0.4 percent). While deliveries in the USA grew 7.8 percent in July, there was a slight decrease (-1.5 percent) in the statistics for the North America region due to the tense situation on the overall passenger car market in Mexico. There was a 16.5 percent rise in the South America region, with deliveries there running at 51,300 units. This positive trend was primarily driven by Brazil (+39.4 percent). Compared with the same period in 2017, deliveries in the region have risen by 13.6 percent since the beginning of the year.

Cumulative deliveries in the Asia-Pacific region from January to July ran at approximately 2.5 million vehicles (+7.8 percent). 335,700 units were handed over to customers in July (+0.9 percent). Delivery figures for July also reflect the noticeable reluctance to buy on the part of Chinese customers due to the lower tariffs on imported vehicles which came into effect on July 1, 2018. Deliveries stagnated compared with the same month last year. Over 2.3 million new vehicles have been handed over to customers in China since the beginning of the year, representing 7.9 percent growth.

See full release at: https://www.volkswagenag.com/en/news/2018/08/VW_Group_deliveries_Jul_18.html

(C) 2018 Electronic News Publishing, source ENP Newswire

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Financials (€)
Sales 2018 240 B
EBIT 2018 16 522 M
Net income 2018 12 676 M
Finance 2018 25 332 M
Yield 2018 3,90%
P/E ratio 2018 5,71
P/E ratio 2019 4,96
EV / Sales 2018 0,18x
EV / Sales 2019 0,15x
Capitalization 68 886 M
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Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 200 €
Spread / Average Target 44%
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Managers
NameTitle
Herbert Diess Chairman-Management Board
Hans Dieter Pötsch Chairman-Supervisory Board
Frank Witter Head-Finance & Controlling
Martin Hofmann Head-Group Information Technology
Peter Mosch Member-Supervisory Board
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