Volkswagen AG says its first-quarter operating profit increased 41.2% to €464 million ($607 million), despite an 8.4% drop in vehicle sales to 1.17 million units. The auto maker says the profit increase came directly from its automotive business, where operating income rose from €98 million ($128 million) in like-2004 to €234 million ($306 million). Another contributor was VW’s ForMotion cost-reduction program, which the auto maker now says will contribute €3.1 billion ($4 billion) to ...
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