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VW says shift to electric vehicles could hit profitability

February 23, 2018 4:19 PM
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BERLIN (Reuters) - Volkswagen (VOWG_p.DE) said profitability could take a hit this year after posting record 2017 earnings on Friday, as the carmaker invests billions of euros in electric vehicles (EVs) and launches a raft of new models.

Europe’s largest automotive group said it expects a return on sales for 2018 of between 6.5 and 7.5 percent before special items, after reaching 7.4 percent last year, and revenue to exceed 2017 levels by as much as 5 percent.

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