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The operating profit of the Audi brand, including Lamborghini and Ducati, remained on a level with the previous year at 1.2 billion euros, compared to 1.3 billion previously.

While its 2016 operating margin was 6.7 per cent, largely on the back of huge margins from Porsche and Audi, its first quarter operating profit jumped up to 7.8 per cent while the Group's revenues climbed to €56.2 billion ($AU82.4 billion), up by 10.3 per cent.

A good thing too as it will need deep pockets to cover the liabilities from the dieselgate scandal.

VW, Europe's biggest carmaker, is aiming to beat rivals for profitability rather than chasing sales volumes through aggressive pricing as it invests billions of euros in electric cars, new mobility services and self-drive technology.

"Our efforts to improve efficiency and productivity across all areas of the company are paying off", VW Group CEO Matthias Mueller said in a statement.

Volkswagen AG's profitability surged as turnaround efforts at the struggling namesake auto brand gained traction, providing much-needed support to stem an unprecedented financial hit from its diesel-emissions crisis. This also reflected the higher sales revenue.

Turkey threatens further strikes on US-allied Syrian Kurds
The private Ihlas news agency IHA reported the convoy was heading to southeastern Sanliurfa province from Kilis in the west. Othman further said that three United States army units will be deployed on the border area to prevent further attacks.

VW is bracing for outflows in the "double-digit billion-euro range" this year, it said earlier on Wednesday.

"The quarterly results are further proof of our Group's solid financial foundation", said Frank Witter, Member of the Board of Management responsible for Finance and Controlling. Even amid the burden, "we will continue to fight for every single customer".

The turnaround at VW makes Volkswagen less dependent on its luxury-car divisions. The stock has gained 8 per cent this year, valuing the manufacturer at 73 billion euros (S$111.1 billion). The expansion of the global model and technology portfolio in the period under review also led to higher depreciation and amortization charges.

Of these job cuts, 23,000 will occur in the country, but Volkswagen will also add 9,000 more employees that will be in training soon, resulting in a net loss of 14,000 workers.

"Challenges will arise particularly from the economic situation, intense competition in the market, exchange rate volatility and the diesel issue", the group said.

Skoda's profit rose by 32 percent to $452.2 million while the Seat brand's profit increased to $61.1 million from $58.9 million.


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