The Volkswagen brand has not been profitable in the United States since 2003. According to Jonathan Browning, CEO of Volkswagen Group of America, the brand expects to be profitable in the United States this year.
“Audi brand achieved profitability in the U.S. last year,” he said.
Browning said that he wanted to be clear that he was only talking about Volkswagen sales operation and not U.S. manufacturing, financial services, or Volkswagen’s contribution to global fixed costs.
“The focus is on meeting our contribution to the corporate profitability target,” he said. “But this is a significant improvement.”
A part of Volkswagen Group’s 2018 goal to become the world’s largest automaker is an 8 percent profit margin.
– By: Omar Rana
Source: Automotive News