Volkswagen's 2019 vehicle deliveries slightly above 2018

Volkswagen Group vehicle deliveries top 10.8 mln in 2019CEO revises deliveries forecast to "slightly above" 2018Volkswagen reiterates group margin tar
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FILE PHOTO: A worker makes final checks on an e-Golf electric car at the new production line of the Transparent Factory of German carmaker Volkswagen in Dresden, Germany, March 30, 2017. REUTERS/Fabrizio Bensch
FILE PHOTO: A worker makes final checks on an e-Golf electric car at the new production line of the Transparent Factory of German carmaker Volkswagen in Dresden, Germany, March 30, 2017. REUTERS/Fabrizio Bensch

Volkswagen Group said on Thursday its vehicle deliveries last year were slightly above the previous year's level, revising up an earlier forecast which predicted 2019 sales would be level with the year before.

In 2018, the multi-brand car and trucks maker, which owns the Scania, MAN, Lamborghini, Skoda, Audi, Porsche and Bugatti brands, delivered 10.8 million vehicles to customers.

Volkswagen chief executive Herbert Diess issued the revised forecast during an investor presentation in New York. The group reiterated it expected an operating return on sales of between 6.5% and 7.5% before special items for last year.

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Volkswagen is due to release 2019 earnings on March 17.

The group also said it would invest 7 billion euros ($7.8 billion)to create a dedicated software organisation to raise in-house software development to 60% from 10%.

The new software organisation starts operation in January 2020, according to a presentation on Volkswagen's website.

First Published Date: 09 Jan 2020, 18:48 PM IST
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