Vw Q3 profit more than tripled thanks to the demand in China

Article by Christian A., on October 22, 2010

Volkswagen AG announced today the its nine-month operating profit more than tripled. As expected, the sales were boosted by the deliveries in China, and the German manufacturer expects even bigger numbers in the coming months. Volkswagen’s operating profit jumped to 4.8 billion euros ($6.7 billion) from 1.5 billion euros a year earlier.

Furthermore, Vw’s sales jumped 20 percent to 92.5 billion euros, while net income rose more than sixfold to 4 billion euros.

“The successful business growth of the Volkswagen group in the first nine months of 2010 will not continue as strongly in the fourth quarter,” Europe’s largest carmaker said in the statement. “Sales revenue and operating profit in 2010 will continue to perform positively.”

According to Volkswagen the new models such as the Audi A7 Sportback, the 2011 Vw Passat Sedan and Station Wagon, or the all-new 2011 Bentley Continental GT will definitely improve its sales.

Big car markets such as China, Western Europe, North and South America will “continue to drive demand”.

Volkswagen wants to reach its sales goal of 10 million vehicles by 2015, three years earlier than planned. Apparently, Volkswagen wants to become world’s largest car manufacturer and overtake Toyota. [via Bloomberg]

Topics: vw, sales, china

If you liked the article, share on:

Pin It

Comments

Recommended

Lamborghini has disclosed that it is looking into the possibility of releasing electric vehicles. With the Volkswagen Group revealing that it will be releasing electric vehicles within several years, there...
by - March 25, 2017
Daimler AG, through its Smart division, has disclosed that its two electric models, the Smart ForTwo and the Smart ForFour are now open for orders in Germany. Official market launch...
by - March 25, 2017
Lamborghini has officially offered clear proof that the Huracán Performante was able to set a new record at the Nürburgring Nordschleife with a time of 6:52.01 It was in early...
by - March 25, 2017
Top Gear has revealed that for its “Stars in a Reasonably Fast Car” segment, it will now be using a slightly enhanced Toyota GT86, which in the U.S. market is...
by - March 24, 2017
Porsche is laying aside any plans of pushing another hybrid hypercar into their line-up -- at least not at this time. Oliver Blume, Porsche Global Chief confirmed in a recent...
by - March 24, 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