Volkswagen's profit declined in the first quarter. Previously, car sales declined, and the cost of introducing new models put pressure on profitability. Volkswagen announced on Tuesday that operating profit for the first quarter fell 20% to 4.6 billion euros (4.9 billion US dollars), in line with analysts' expectations as a whole. The company confirmed its full-year outlook. “As expected, our first quarter results showed a slow start to the year,” Chief Financial Officer Arno Antlitz said. “Strong performance in March, encouraging improvements in order reserves and the number of orders received over the past few months should have had a positive impact on the second quarter.”