Volkswagen adding extra shifts at factories to keep up with rising demand

Article by Christian A., on March 11, 2011

Volkswagen AG CEO Martin Winterkorn says that, in order to meet rising customers’ demands, he’s adding more shifts at factories. At VW’s annual investors and press conference in Wolfsburg, Germany, Winterkorn said VW sees a strong first quarter on all fronts.

He added that two-month global sales at VW, which also include the Audi luxury brand and Czech division Skoda, surged 18 percent to more than 1.2 million cars. VW is relying on growth in Russia, Brazil, China and India to narrow its gap with the world’s largest carmaker - Toyota Motor Corp.

In 2011, VW forecasts sales will grow 5 percent after reporting a record 7.2 million deliveries of cars and SUVs in 2010, says Autonews. In 2010, sales in China increased 37 percent to 1.92 million cars.

On Feb. 25, 2011, VW said net income surged sevenfold in 2010 to EUR6.84 billion ($9.46 billion) from EUR960 million in 2009.

Gains at the VW and Audi brands helped revenue rise 21 percent to EUR127 billion. VW reaffirmed it expects 2011 revenue to surpass year-ago levels and operating profit to surpass the 2010 record of EUR7.14 billion.

VW proposed a 2010 dividend of EUR2.20 per common share and EUR2.26 per preferred share. Amid tight component supplies stemming from parts-makers' struggle to keep up with vehicle demand, on Jan. 31, 2011, VW stopped production at its main Wolfsburg factory and at a plant in Emden.

Topics: vw, production

If you liked the article, share on:

Pin It

Comments

Recommended

To the proud owners and owner-to-be of the Porsche 991 Carrera GTS, there's good news for you all. German automobile manufacturer Porsche recently confirmed to the public that the Porsche...
by - March 23, 2017
McLaren diehards, this is the moment that you're all waiting for. The British automaker recently publicized the teaser outline of its new automobile that will hit the streets soon, dubbed...
by - March 23, 2017
PSA seems very confident about conquering the world. The purchase of Opel/Vauxhall for €2.2 billion ($2.3B) from General Motors makes PSA the second largest car company, just behind the Volkswagen...
by - March 23, 2017
Reporting for duty. It’s been a year since the Victoria Police was loaned a new Mercedes-AMG GLE 63 S Coupe. In those 12 months, the coupe served as the law...
by - March 23, 2017
After making its debut at the Paris Motor Show last year as a concept car, the Trezor by Renault managed to bring home the 2016 Concept Car Design Of The...
by - March 23, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries