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MarketScreener Homepage  >  Equities  >  Xetra  >  Volkswagen AG    VOW3   DE0007664039

VOLKSWAGEN AG

(VOW3)
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Volkswagen expects car market to recover in summer: FAZ

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03/25/2020 | 01:48pm EDT
Employees leave the Volkswagen plant after VW starts shutting down production in Europe amid the outbreak of coronavirus disease (COVID-19) in Wolfsburg

Volkswagen expects the German car market to recover in the summer after the automaker was forced to suspend output because of the coronavirus pandemic, an executive told a newspaper on Wednesday.

The company has initially halted production until April 3, but Juergen Stackmann, management board member for the VW passenger cars brand, gave an upbeat assessment to the Frankfurter Allgemeine Zeitung, saying that the Chinese market has already started to pick up.

"We assume that Germany will return to normal in the summer," Stackmann was quoted as saying.

"We must learn how to live with the virus," he said, adding that he did not expect the virus to disappear quickly.

"The standstill cannot last longer than summer ... Society and the economy cannot withstand that ... We are preparing ourselves for the moment when it starts again."

Volkswagen is also looking into new rules to ensure factory workers can keep their distance from each other on the production line.

He added that one of the lessons from the crisis was the need to invest more in e-commerce, saying Volkswagen had already launched initiatives in online car trading that it would now accelerate.

(Reporting by Emma Thomasson; Editing by Edmund Blair and David Goodman)

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Financials (EUR)
Sales 2020 227 B
EBIT 2020 11 848 M
Net income 2020 6 309 M
Finance 2020 19 416 M
Yield 2020 3,42%
P/E ratio 2020 9,53x
P/E ratio 2021 5,00x
EV / Sales2020 0,20x
EV / Sales2021 0,16x
Capitalization 64 515 M
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Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 154,07  €
Last Close Price 122,54  €
Spread / Highest target 97,5%
Spread / Average Target 25,7%
Spread / Lowest Target -40,1%
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Managers
NameTitle
Hans Dieter Pötsch Chairman-Supervisory Board
Frank Witter Head-Finance & Information Technology
Peter Mosch Deputy Chairman
Bernd Osterloh Member-Supervisory Board
Hans-Michel Piëch Member-Supervisory Board
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