BERLIN, May 4 (Xinhua) -- Volkswagen almost doubled its net profit to 6.7 billion euros (7.0 billion U.S. dollars) in the first quarter (Q1) of the fiscal year 2022, despite selling fewer vehicles, the German carmaker said on Wednesday.

       Revenue in Q1 remained almost unchanged from last year, at 62.7 billion euros. Global shortages of chips and wire harnesses were mitigated by an "improved sales mix, better pricing, continued cost discipline and the flexibility provided by the company's global set-up."

       Volkswagen has shown "great resilience" during the Russia-Ukraine conflict and the ongoing pandemic, said CEO Herbert Diess. The company is "firmly committed to expanding its global footprint," he added.

       In China, the company's biggest single market, Volkswagen has "maintained a high pace" in accelerating digitization and electrification. From 2023, models based on the carmaker's MEB (Modular Electric Toolkit) platform, as well as battery systems, are to be produced at the new e-mobility hub Volkswagen Anhui.

       Volkswagen's only brands to increase revenue were sports and luxury brands Porsche and Bugatti, at 7.3 billion euros in the first quarter. The Volkswagen brand recorded a 15.3 percent decline in revenue, to 14.9 billion euros. (1 euro = 1.05 U.S. dollars)