Volkswagen upbeat on its fourth quarter results

Matthias Mueller, the CEO of the VW group stated he expects the group’s operational profit for the fourth quarter to be outstanding.

Despite overwhelming odds, Europe’s largest carmaker Volkswagen is slated to report excellent results, much of which can be attributed to record vehicle sales and spending cuts, in the last quarter of this year, said Matthias Mueller, the VW group’s CEO.

The September 2015 diesel scandal has cost VW billions of euros in fines and penalties.

“It will certainly be quite outstanding in operational terms,” said Mueller to Germany’s weekly Welt am Sonntag when asked to sum up the 2017 business year.

VW’s fourth quarter results will be published on March 13.

In November, Mueller had predicted that VW’s deliveries would exceed its previous year record of 10.3 million vehicles.

However, Mueller also warned that the proposals by the European Commission for progressive cuts in it’s average carbon dioxide (CO2) emissions by 2025 and 2030 will “cause us real pain.”

In the sidelines of his statements to Welt am Sonntag, Mueller came heavily down on the prolonged political deadlock in the country, with Chancellor Angela Merkel continuing to search for a coalition partner three months after federal elections.

“This is taking too long,” said Mueller, “We must become capable of acting again, for this purpose sometimes also unpopular decisions are necessary.”


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