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Volkswagen Group said group operating profit more than doubled in the second quarter, helped by cost cuts and higher-margin new models at its core VW brand.

Earnings before interest and tax jumped to 4.55 billion euros ($5.34 billion) from 1.90 billion a year earlier, VW said in a statement on Thursday.

"I am firmly convinced that our financial footing is adequate to cope with the transformation in the automotive industry and topics of the future," finance chief Frank Witter said in the statement.



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VW Rakes In Over $5 Billion Profit In The Second Quarter

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