VOW3 Volkswagen AG

   By Kim Richters 
 

Volkswagen AG confirmed its full-year target for operating profit at its annual general meeting on Wednesday.

The German car maker expects operating profit to be severely below last year's figure but still positive.

For September, the company expects deliveries and order intake to beat the same month a year earlier.

The upward trend should continue for the rest of the year and business continues to recover during the second half so far, Volkswagen said.

Deliveries world-wide in the first eight months of the year declined 21.5% to 5.6 million vehicles, with deliveries in China falling 11.5% and in Western Europe 30.9% in the same period.

"All medium and long-term forecasts are subject to considerable uncertainty and depend on the further course of the pandemic," Chief Executive Herbert Diess said in a press statement prepared for the meeting.

Write to Kim Richters at kim.richters@wsj.com

(END) Dow Jones Newswires

September 30, 2020 04:22 ET (08:22 GMT)

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