Volkswagen AG’s financial-services arm expects to reach an earnings target four years early thanks to surging demand for used cars.

The division will generate an operating profit of 4 billion euros ($4.8 billion) already this year rather than in 2025, according to Chief Financial Officer Frank Fiedler. First-half results rose to a record after the semiconductor shortage disrupted production of new cars, shifting demand to pre-owned vehicles.

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Strong Used Car Market Propels VW Financial Unit To Reach Earnings Target 4 Years Early

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