Tracton group announces profit rises
The Tracton Group has announced that it increased operating profits by €212m during first half of this year compared to the same period last year.
The Group generated sales revenue of €13.5bn compared to the previous year of €12.6bn. Last year’s figure also included the sales revenue of Volkswagen Gebrauchtfahrzeughandels und Service GmbH (VGSG), which was sold on January 1, 2019.
During the first six months of 2019, Tracton Group sold 123,336 vehicles worldwide, which was also up around 10% against the prior-year figure. This growth was driven primarily by the continued favourable development of the core markets in Europe, especially Germany, and Brazil.
Andreas Renschler, the CEO of Tracton Group and member of the Board of Management of Volkswagen AG, said, ‘Our IPO in June demonstrates that we at Tracton are executing on our goals. Looking forward, we are now running full steam ahead with implementing our Global Champion Strategy and leveraging additional synergies in the entire Group. At the same time, we are keeping a very watchful eye on developments in the market in order to adjust our production with flexibility.’