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World markets  |  October 25, 2012 09:13:48

VW 3Q results mostly in line with estimates, reduce the number of cars in stock

Volkswagen Group's revenues for 9M12 amounted to EUR 144 billion, which exceeded expectations 141 billion operating profit stood at 8.84 billion euros, in line with expectations of 8.88 billion. VW also confirmed the view to achieve an operating profit this year about the level of the previous year, ie 11.3 billion. Management stated that the downward pressure on prices in Europe further strengthened and that the European market will remain weak over the years. The company has also decided to reduce the average inventory of cars in order to better respond in case of another steeper decline in demand. VW preference shares yesterday strengthened by 3.1% to 151 euros.

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