The company said Tuesday that it made 4.4 billion euros ($4.7 billion) in operating earnings in the January-March period, up from 3.4 billion euros a year earlier. The company said in a brief news release that the namesake brand contributed 0.9 billion euros. The statement credited success in holding down fixed costs as well as the successful launch of new vehicles including the Tiguan. It has set aside more than 18 billion euros ($19 billion) to cover the costs of the scandal. Volkswagen is scheduled to release full financial details including bottom-line net profit for the first quarter on May 3.

Source: New Zealand Herald April 18, 2017 14:47 UTC