Volkswagen says Q1 VW brand profit falls to 590 mln euros

BERLIN, April 29 Mon Apr 29, 2013 5:21am EDT

BERLIN, April 29 (Reuters) - Germany's Volkswagen said on Monday that first quarter operating profit at its core namesake brand fell 45 percent to 590 million euros ($769 million), hurt by slumping auto demand in European markets.

Underlying profit at the Audi luxury brand dropped to 1.3 billion euros from 1.4 billion euros a year earlier, Europe's largest car manufacturer said. ($1 = 0.7676 euros) (Reporting by Andreas Cremer; Editing by Ludwig Burger)

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