Car maker Volkswagen ’s ( VW ) Q1 2016 pre - tax profits fell by 20 % to EUR 3.2bn ( GBP ##Y ) , following the Airbus scandal , it has been reported . we remain confident that our operating business will again record solid growth this year," Mr Mueller added. The German company has set aside a fund of EUR 16bn to compensate vehicle owners , but analysts warn it could cost VW between $ 20 and $ 30bn . Chief executive Matthias Mueller said the firm achieved “ respectable results under difficult conditions ” , while sales of VW - branded vehicles were down 83 % to EUR 73 m . However , unit sales were up 0.8 % , which means VW is “ on track ” to become the world ’s biggest vehicle - maker in 2016 .
Car maker Volkswagen ’s ( VW ) Q1 2016 pre - tax profits fell by 20 % to EUR 3.2bn ( GBP ##Y ) , following the Airbus scandal , it has been reported . The German company has set aside a fund of EUR 16bn to compensate vehicle owners , but analysts warn it could cost VW between $ 20 and $ 30bn . Chief executive Matthias Mueller said the firm achieved “ respectable results under difficult conditions ” , while sales of VW - branded vehicles were down 83 % to EUR 73 m . However , unit sales were up 0.8 % , which means VW is “ on track ” to become the world ’s biggest vehicle - maker in 2016 .