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Volkswagen’s 2023 profits rise, outlook for this year cautious

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Volkswagen saw a 12% increase in auto deliveries to customers in 2023, totalling around 9.2 million vehicles. (Volkswagen pic)

FRANKFURT: German auto giant Volkswagen on Wednesday reported a forecast-beating rise in profits for 2023, boosted by higher vehicle deliveries, but gave a cautious outlook for this year.

Net profit rose 13.1% to €17.9 billion (US$19.6 billion) from the previous year. Sales rose more than 15% to €322.3 billion.