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Costs down, profits up: VW, Daimler and BMW leave pandemic behind

By wallstreet:online TV (Glomex) 31 May 2021 6 Views

Source: wallstreet:online TV (Glomex)

In the first quarter of 2021, German automakers significantly outperformed their competitors in terms of revenue, profit and margin, according to a study by consulting firm EY. According to the report, Daimler's operating profit rose 832 percent compared to the same quarter last year. At Volkswagen, the figure was 432 percent. EY automotive expert Peter Fuß sees reasons for this in the groups' cost-cutting programs and strong demand in China.

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