Volkswagen Q1 Profit Climbs, Deliveries Down; Sees Higher Revenues In FY22

German automaker Volkswagen AG reported Wednesday significantly higher profit in its first quarter, while sales revenues were nearly flat and deliveries declined due to parts and supply shortages amid the ongoing Russia-Ukraine conflict. Looking ahead for fiscal 2022, the company projects higher sales revenue and vehicle deliveries. In Germany, Volkswagen shares were losing around 1 percent.

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