The Volkswagen Group has shrugged off the strain of the Dieselgate emissions scandal, growing its profits in the first half of 2017 to €8.9 billion (£7.9bn), a €1.4bn (£1.2bn) improvement on the same period in 2016.
The group’s improvements were boosted by growing sales, with deliveries increasing to 5,156,000 in the first half of 2017, a 0.8% improvement on the first half of 2016.
Within the group, the biggest earner was Audi, which recorded €2.7bn (£2.4bn) in profits, although that represented no growth on the brand’s 2016’s first half. Conversely, the Volkswagen passenger car brand grew profits to €1.8bn (£1.6bn), doubling its operating profits.
Skoda and Seat represented the biggest improvers within the group, with the former contributing €860 million (£767m), a 25.5% improvement on 2016’s first half, and the latter adding €130m (£116m), a 40.9% boost on its previous results.
Bentley and Porsche also improved, with the British luxury car maker adding €13m (£11m) – a vast improvement on its €22m (£19m) loss in 2016 – and the German sports car brand contributing €2.1bn (£1.8bn), an improvement of €300,000 (£268,000).
The story was similar for Volkswagen’s commercial vehicle arm and the Scania and MAN lorry businesses, with profits growing by 49.8%, 18% and 4% respectively. Volkswagen Finance increased its operating profit to €1.2bn (£1bn), a year-on-year rise of 17%.
Volkswagen Group chairman Matthias Müller said of the brand’s 2017 results: "The remarkable half-year result and the excellent development with regard to deliveries in June are confirmation that the Volkswagen Group is on the right path again.