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The carmaker said the rise in revenue was attributed largely to strong growth in Europe and North America, and said its order book in western Europe totalled 1.8 million vehicles, including 260,000 battery-electric cars.
Total deliveries in the first quarter were up 7.5% from the previous year, in line with BMW, which also reported higher deliveries that month.
Still, Volkswagen (ETR:VOWG_p)’s deliveries in China were down 14.5% throughout the quarter. “The company is confident that the deliveries in this region can recover throughout the year on the broadened model offering and China-specific technology,” the statement said.
The carmaker’s earnings before interest and taxes still beat expectations of five analysts polled by Refinitiv SmartEstimate of 5.48 billion euros. It confirmed its outlook for 2023.
($1 = 0.9024 euros)
