VW closed a solid Q1, comfortably outperforming market expectations on the back of strong sales in China and a product mix pulled by the higher-end, lifting margins to pre-pandemic levels. The EV offensive continues to gain speed with the group already earning the top spot on European BEV sales. Although the current semiconductor shortage casts a shadow on the Q2 performance, the upgraded margin guidance is a sign of a brighter FY outlook.
10 May 2021
An upbeat, premium-led Q1 prompts FY21 guidance upgrade
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An upbeat, premium-led Q1 prompts FY21 guidance upgrade
VW closed a solid Q1, comfortably outperforming market expectations on the back of strong sales in China and a product mix pulled by the higher-end, lifting margins to pre-pandemic levels. The EV offensive continues to gain speed with the group already earning the top spot on European BEV sales. Although the current semiconductor shortage casts a shadow on the Q2 performance, the upgraded margin guidance is a sign of a brighter FY outlook.