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International Business Times
International Business Times
Business
Sam Reeves

Volkswagen 2023 Profits Rise, But Warns On Slow Sales Growth

Volkswagen Oliver Blume China
Volkswagen delivered some 9.2 million cars to customers in 2023 (Credit: AFP)

German auto giant Volkswagen on Wednesday reported a forecast-beating rise in profits for 2023 as vehicle deliveries rebounded but warned of slower sales growth this year, sending its shares down.

The 12-percent increase in deliveries marked a turnaround following three straight years in decline linked to production disruptions caused by shortages of key components.

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