VW Group: tough Q1 as passenger cars struggle

VW Group began the year by forecasting tougher conditions. Its Q1 performance conformed to that expectation as revenue dipped by 1% and operating profit fell by 20%. However, there were some bright spots as both the Core brand group and Traton reported higher profits and margins. The company stuck to its full-year forecasts, implying a stronger performance in the rest of the year.