New Volkswagen AG VLKAY 2.39% Chief Executive Herbert Diess’s tenure got off to a strong start as the auto giant reported a rise in sales and said its broad revamp was on track. “The sales and revenue figures in the first quarter were excellent, while earnings looked fine,” said NordLB analyst Frank Schwope. On Thursday, Mr. Diess said the company was on track to becoming more profitable. In the year ahead, Volkswagen said it faces challenges from the economic climate, increasing competition and exchange-rate volatility. Nevertheless, Volkswagen confirmed its guidance for the full year, saying it expects sales to rise as much as 5% and forecasting an operating profit margin of between 6.5% and 7.5%.

Source: Wall Street Journal April 26, 2018 10:30 UTC