FRANKFURT, Germany (AP) — Volkswagen has reported higher profits for the first half of the year as the company benefited from increased sales in the growing European economy and moved past one-time costs for its diesel emissions scandal in the U.S.
After-tax profit rose to 6.6 billion euros ($7.7 billion) from 3.6 billion euros in the same period in 2016, when the company had more than 2 billion euros in charges related to its diesel troubles.
Chief Financial Officer Frank Witter said Thursday that the results were boosted by increased sales "above all in Europe, and also in North and South America, which is particularly encouraging."
Volkswagen has agreed to more than $20 billion in fines and civil settlements for equipping diesel-engine cars with software that enabled cheating on emissions tests.