Xinhua News Agency, Berlin, February 27th, Volkswagen Automotive Co., Ltd. announced its 2016 financial report recently, in view of the good performance in dealing with the "emission door" of diesel vehicles, coupled with the good performance in the Asia-Pacific market dominated by China, 2016 The public turned losses into profits and once again achieved profitability.
According to the financial report, last year, Volkswagen's total vehicle sales reached 10.3 million units, and sales increased by 4 billion euros from the previous year to 217.3 billion euros (1 euro is about 1.06 US dollars). In 2016, despite the continued scandal of diesel emissions, Volkswagen earned a net profit of 5.1 billion euros, while in 2015 it suffered a loss of nearly 1.6 billion euros, which is the company's biggest loss in history.
The publication of the German "Der Spiegel" website pointed out that the improvement of Volkswagen's performance last year was mainly due to its huge advantage in the Chinese market, which increased Volkswagen's global sales by nearly 4 percentage points.
In September 2015, the US Environmental Protection Agency accused some Volkswagen diesel vehicles of cheating in exhaust gas detection, and the number of Volkswagen diesel vehicles involved in the “discharge gate†was approximately 11 million. The “Drainage Door†incident caused huge losses to Volkswagen, including related mediation and compensation in the United States. In 2016, the public will need to pay an additional 6.4 billion euros. According to statistics, the expenditure related to the emissions scandal has reached 22.6 billion euros.
Volkswagen expects global demand for new cars to slow in 2017. Affected by factors such as unstable global economic development, increasing industrial competition and exchange rate fluctuations, it is expected that Volkswagen will only achieve smooth development in 2017.
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