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The
group including Volkswagen, Volkswagen Commercial Vehicles,
Skoda and SEAT/CUPRA posted operating profit of 7.3 billion
euros ($7.99 billion) in 2023, mainly due to higher unit sales.
"Through close cooperation between our brands, we are working
more efficiently, becoming more competitive and boosting our
innovativeness for our customers worldwide," said Volkswagen's
Thomas Schaefer, head of the core brands.
Related effects from the closer cooperation should bolster
results this year, said the German carmaker, which also expects
more sales due to a better raw materials and components supply.
On Wednesday, Volkswagen said the operating profit margin for
the group's core mass-market brands rose to 5.3% last year from
3.6% in 2022, with the company targeting 8%.
($1 = 0.9140 euros)
(Reporting by Christina Amann; Writing by Miranda Murray;
Editing by Madeline Chambers)
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