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Volkswagen weathers pandemic with $10.7 billion profit

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FRANKFURT – German automaker Volkswagen said Friday it made a better than expected profit of 8.8 billion euros ($10.7 billion) after tax in 2020 despite the disruption from the pandemic.

The company said the rapid recovery of China, its largest single market, helped the bottom line, as did resilient demand for luxury autos despite the pandemic.

The Wolfsburg-based carmaker said that it had taken important strategic steps to accelerate its push into software and digital technologies and services.

It tripled its sales of electric vehicles to 422,000 ahead of stricter European Union limits on emissions of carbon dioxide, the primary greenhouse gas blamed for global warming.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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