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Volkswagen returns to profit in North and South America

Published 03/15/2022, 02:48 AM
Updated 03/15/2022, 02:51 AM
© Reuters. Journalists and guests attend the official world premiere of the all-electric ID. Buzz, in Paris, France, March 9, 2022. REUTERS/Benoit Tessier
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BERLIN (Reuters) - The Volkswagen (DE:VOWG_p) Group achieved a 16% market share in China in 2021 and the VW brand returned to profit in North and South America, the German carmaker said on Tuesday.

© Reuters. Journalists and guests attend the official world premiere of the all-electric ID. Buzz, in Paris, France, March 9, 2022. REUTERS/Benoit Tessier

The Volkswagen Group could have sold significantly more cars in China in 2021 but was hindered by the ongoing semiconductor shortage, added the carmaker in a statement.

Volkswagen also said that the brand had achieved a turnaround in South America and reported a positive result for the first time since 2013, as well as returning to profitability in North America after several years in all three markets.

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