Volkswagen AG reported record operating profit in the first quarter today with earnings before interest and tax more than tripling to $4.27 billion.
“Business developments in the first quarter demonstrate the Volkswagen Group’s strength and robustness,” said VW Chief Executive Martin Winterkorn.
First quarter deliveries worldwide were 1.99 million, up 14 percent in the period between January and March.
VW this month started producing new vehicles for sale at its $1 billion Chattanooga plant.
See more coverage in Thursday’s Times Free Press
Mike Pare, the deputy Business editor at the Chattanooga Times Free Press, has worked at the paper for 27 years. In addition to editing, Mike also writes Business stories and covers Volkswagen, economic development and manufacturing in Chattanooga and the surrounding area. In the past he also has covered higher education. Mike, a native of Fort Lauderdale, Fla., received a bachelor’s degree in communications from Florida Atlantic University. he worked at the Rome News-Tribune before ...