Automaker also recorded double-digital revenue increases in the first nine months of the year.
Strong result driven by higher sales volume, consistent cost management and focus on efficiency.
Market normalization as supply crunches ease will reduce the division’s profits.
Volkswagen AG reported its cash flow fell short of expectations as supply chain snags led to higher unsold inventory at year’s end.
The automaker will stick to its plan to list its Porsche sports-car maker later this year as to finance its pivot toward electric vehicles (EVs).
With an improved chip supply, carmakers are at work whittling down order backlogs.
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