VW says it expects its return on sales for its passenger cars business to be at the lower end of its 6.5%-7.5% margin target for the year
Frankfurt — Sales of sports utility vehicles and cost cuts helped Volkswagen shrug off a €1bn legal charge and meet first-quarter operating profit forecasts on Thursday, sending its shares 3.3% higher.
Analysts praised Volkswagen's strong Ebit results at a time when other car makers and suppliers were cutting their outlook. VW said it expects its return on sales for its passenger cars business to be at the lower end of its 6.5%-7.5% margin target for the year but analysts were impressed that VW reiterated the goal.Volkswagen stuck to its forecast of higher unit sales, revenue growth of up to 5% in 2019, and for a group operating return on sales of 6.5%-7.5%.
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