Volkswagen recorded a drop in profit in the last quarter, much higher than expected by analysts. Germans are also expected to decline in coming years. German manufacturer Volkswagen AG reported a profit decline for the third quarter of this year much higher than analysts expected in early 2009.
According to the German manufacturer officials, this year the operating profit decreased by 81 percent, of which 277.5 million euros were lost in the last quarter of 2009. In a report of the company, officials highlights the causes of the decline: “Group revenue in 2009 will be lower than in previous years due to weaker sales volume.”
Other causes that have generated these declines are refinancing costs and weak revenue recorded in the right luxury brand Bentley. In terms of future financial situation, the Germans expect decreases in profits from year to year. It sounds really bad, hope that VW will solve this problem as soon as possible.