That's the good news coming out of Wolfsburg — first quarter profits were 327 million euros, up from 70 million euros a year ago. Unfortunately that was short of predictions, so the VW share price dropped. Say what? The last time we were in Germany our tour guide told us that Germans love to complain. This was an altogether new German stereotype to us, and we were wary of the former-East German's socialist propaganda, but in this case it looks like it's true. How else can a company quadruple profits and still suffer on the stock exchange? Those crazy Germans, man, they love David Hasselhoff! Anyway, well done Volkswagen, keep up the good work.
1Q profit more than quadruples at VW [BusinessWeek online]