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EV maker reported a 37% decrease in adjusted earnings, its smallest profit in two years.
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Analysts reaffirm the company's market rating because of the improved forecast.
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Volkswagen's supervisory board will convene Tuesday to discuss a proposed cost-cutting initiative ahead of investor meeting.
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Increased chip supplies and full order books are cited as the reasons for the increase.
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Volkswagen AG reported its cash flow fell short of expectations as supply chain snags led to higher unsold inventory at year’s end.
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The Japanese automaker forecasts operating profit for the fiscal year will hit 360 billion yen ($2.5 billion), up 100 billion yen from its July forecast.
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Hyundai Motor Co. will focus on luxury models, SUVs and electric vehicles (EVs) to achieve record-high earnings in 2022.
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Subaru profit jumped 25% in the latest quarter as the automaker recovered production, ramped up sales and cashed in on favorable exchanges rates.
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Toyota Motor Corp. and Honda Motor Co. warn of continued chip supply and parts disruptions as COVID-19 surges again across the globe.
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