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>> 18 months on from the emissions scandal in Volkswagen, bosses are facing the media and the music. It's not so good for the VW car brand. At 1.9 billion euros, operating profit has fallen 10%. And profit margins are down to 1.8% from 2%. It's a different story for the group as a whole.
It overtook Japan's Toyota last year to become the world's biggest selling car maker. Porsche's sports cars perform particularly well, and Scania trucks saw a turnaround.>> 2016 wasn't the horror year for Volkswagen we'd initially expected. We've achieved a great deal. Despite having a lot of work to do, Volkswagen is back on the right track.
>> The VW brand accounted for almost half the group's revenue in 2016, but only 10% of its underlying profit. Some now have doubts the restructuring target of 3.7 billion euros in annual savings by 2020 will be met. But Mueller is confident the US can help even though legal costs and compensation there could cost $25 billion.
>> The US remains a strategic core market for the group, and also for the VW brand. We stand by our investment and location decisions. The double digit growth rates in the first two months of this year are encouraging.>> But competition is about to get tougher in Europe after maker PSA agreed to buy GM's Opal business.
Fiat Chrysler's boss Sergio Marchionne thinks the deal might even persuade VW to seek a tie-up with his company. Mueller backtracked on a previous rejection of that suggestion, simply saying, there is no contact at the moment.