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

During car crashes and accidents, there are times that its occupants can’t get out easily. There are times when the only way to get out of that situation is to...
by - February 23, 2017
Could this be a special version of Ferrari’s much acclaimed LaFerrari? No matter how we look at it, the patent images for this sports car from Ferrari indicate its striking...
by - February 23, 2017
How fast can a 2017 Chevrolet Camaro ZL1 actually go? Considering the amount of power lurking underneath its line-laden bonnet, the 2017 Camaro ZL1 is capable of achieving a top...
by - February 23, 2017
As it turned out, we’ll be seeing Toyota’s new super supermini at the 2017 Geneva Motor Show in March. It’s time we all get to meet the new Toyota Yaris...
by - February 23, 2017
Opel revealed it has sweetened the pot for 2017 Insignia Grand Sport customers with the Opel Exclusive program. Through this program, the brand hopes to introduce a wide selection of...
by - February 22, 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