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 €144.2 billion during the period January to September 2012, as against €116.3 billion in the same period of January to September 2011.
Consolidated profits too saw an increase to €20.2 billion as compared to €13.6 billion in the previous year though operating profits were down to €8.8 billion as against €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 €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.