Volkswagen Group sees improvement in global passenger car markets over 2011
Volkswagen Group has seen increased sales and rising profits despite constraints in global auto markets. Sales revenue of the company was up 24% and stood…
Volkswagen Group has seen increased sales and rising profits despite constraints in global auto markets. Sales revenue of the company was up 24% and stood at â‚¬144.2 billion during the period January to September 2012, as against â‚¬116.3 billion in the same period of January to September 2011.
Consolidated profits too saw an increase to â‚¬20.2 billion as compared to â‚¬13.6 billion in the previous year though operating profits were down to â‚¬8.8 billion as against â‚¬9 billion in the previous year. This was coupled with an increase in market share in the passenger car market which was up 12.6% as compared to 12.3% in the previous year.
The Volkswagen Passenger Car brand sold 3.6 million vehicles in the period January to September 2012 as compared to 3.3 million sold in the 9 months of the previous year. This relates to a 9.7% increase. Volkswagen products such as Passat, Touareg, Tiguan and Golf Cabriolet recorded higher sales as did the UP! and Beetle models. Operating profits stood at â‚¬2.9 billion due to expenditures on Modular Transverse Toolkit and launch of the new Golf. Sales across the US and home markets of Germany and in China increased 21% though tough market situations reigned over southern Europe. All these results have made the company confident of being able to reach their goals set for 2012.