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Business

VW posts surprise profit gain

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Opening sequence

Business

VW posts surprise profit gain

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COMING UP:VW posts surprise profit gain

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Transcript

00:00:00
>> So much for a crisis at Volkswagen. The German car maker reporting a surprise jump in profit despite the scandal over it's cheating on emissions tests. Profit up more than 3% to nearly €3.5 billion in the first quarter. Perhaps partly as costs of the scandal prove slightly lower than expected.
00:00:19
Those figures for the group as a whole, however, which includes brands from Skoda to Porsche. The VW brand itself is feeling real pain, profit at that unit almost wiped out. Now company Chief Executive Matthias Muller says, 2016 will be a transitional year but his firm's future seems secure.
00:00:39
The VW group eking out a tiny gain in new car deliveries over the period. The rise of 0.8% enough to see it overtake Toyota for the title of world's largest car maker.