Volkswagen's Q2 net profit soars

Car manufacturer Volkswagen (VW) posted an over three-fold year-on-year rise in its second-quarter net profit to 4.78 billion euro (£4.24 billion), driven by strong performance in its emerging markets.

The figures were much ahead of previous estimates.

Emerging markets, including Turkey, Russia, South Africa, Argentina and China, posted strong rises in unit sales. The firm also saw an increase in sales in the US.

The German carmaker's revenues reached 40.3 billion euro (£35.8 billion) in the three months ended June, up 21.5% year-on-year.

However,VW warned that the coming months will be challenging, requiring the firm to work hard to continue the strong performance.

The firm's warning over future outlook worried investors, leading to a 6.2% fall in VW shares to 125.55 euro in early afternoon trading in Germany.

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