Volkswagen laying the foundations for a profitable growth in all segments

Article by Christian A., on May 2, 2011

Volkswagen AG is now laying the foundations for a profitable growth in all business fields and segments, Chief Operating Officer Martin Winterkorn declared during the automaker’s recent annual shareholders meeting in Hamburg.

He also mentioned that the company’s plans to increase its vehicle models and production plants will ensure “profitable growth” for the years to come. Winterkorn said that VW “moved into the fast lane in 2010” and that the company intends to stay on this path in the coming years.

Specifically, the company revealed that it is introducing about 30 models and vehicle upgrades in the next months in all its brands, including its Czech unit Skoda and luxury division Audi.

Moreover, the company is expanding its operations in China. On May 24, the company will open a plant in Chattanooga, Tennessee. Furthermore, the company is relying on the market growth in China, Russia, Brazil and India so that it can outperform Toyota Motor Corp. as the largest automaker in the world by 2018.

After reporting 7.2 million deliveries of vans, cars, and sport-utility vehicles in 2010, VW forecasted that its worldwide sales will be up 5 percent this 2011.

Last April 27, the company revealed that its earnings before tax and interest in the first quarter increased more than thrice to 2.91 billion euros ($4.3 billion) from 848 million euros in the same period last year. According to Winterkorn, 2011 seems like a promising year for the company as well as the vehicle industry despite the uncertainties in the economy.

Topics: vw

If you liked the article, share on:

Comments

Recommended

Automobili Lamborghini’s preparations for the production of its first ever sports utility vehicle, the new Lamborghini Urus, has reached new grounds as the Italian carmaker is disclosing plans to construct...
by - May 26, 2017
The upscale version of the GMC Yukon body-on-frame sport utility vehicle – the GMC Yukon Denali – has been refreshed for the 2018 model year. It now sports a new...
by - May 26, 2017
The largest gathering of Volkswagen and Audi cars in Europe is underway, and the German premium carmaker is displaying the third model of its G-Tron range at the 2017 Worthersee...
by - May 26, 2017
Have you been wondering how much you have to produce to acquire a 2018 Mercedes-Benz S-Class Facelift? Wonder no more, as Mercedes-Benz has already divulged the pricing – at least...
by - May 26, 2017
Following the M3’s new facelift earlier this year, BMW is once again bringing something fresh to the table. In its newest offering, a cheaper version of the high performance sedan...
by - May 26, 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