Volkswagen Group’s financial results reveal its Financial Services Division’s operating profit fell a third below the previous year’s profit due to the normalisation of used car prices.
Although the division contributed €3.8 billion to the Group result, used car values impacted profit.
In 2021 and 2022 the residual values of used cars rose as a result of semiconductor-related shortages of new vehicles, but values have since stabilised.
Oliver Blume, CEO…
Comments are closed