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European Crisis Fails to Slow VW Earnings Growth

“A very good start,” as profits exceed optimistic forecasts.

by on Apr.26, 2012

VW plans to introduce as many as 40 new models across its various brands this year. The Golf R is shown here.

The European economy may be teetering towards disaster but it was full steam ahead for Volkswagen AG, the German automaker handily exceeding analysts’ already optimistic expectations with a first-quarter profit of $4.2 billion.

The 87% jump reflected VW’s steady sales gains around the world, especially in the United States, along with China, Russia and other emerging markets.

“With the first quarter we have had a clearly good start to the year,” said Volkswagen Chief Executive Martin Winterkorn in a prepared statement.

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In Euros, VW’s net profit rose to 3.17 billion, with pretax profits up 93%, to 4.3 billion Euros.  Revenues jumped to 47.3 billion Euros, a 26% gain driven by an 11% increase in worldwide vehicle deliveries. The maker sold 2.21 million vehicles during the quarter, which could put it in a position – if it continues that trend – to take on U.S. rival General Motors for the global automotive sales lead this year.


VW More Than Doubles Profits in 2011

Sales up nearly 15% as maker punches past Toyota.

by on Feb.24, 2012

Workers assemble a 2012 VW Passat at the maker's new assembly plant in Chattanooga.

If the latest numbers are any indication, Volkswagen is clearly on its way towards world domination.  The German maker is reporting that its profits more than doubled last year while global sales jumped 14.7%.

Volkswagen, no longer limited to the “people’s car,” but owning or partnering with a dozen different brands, has set out a goal of ending the decade as the world’s largest automotive manufacturer.  It didn’t quite get there in 2011, but with sales soaring to 7.2 million it punched by struggling Toyota, landing second only to revived U.S. giant General Motors.

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But shareholders and analysts are, for the moment, focusing on the earnings numbers, which totaled 15.41 billion Euros, or $20.5 billion, up from 6.84 billion Euros in 2010.  The latest figure is a full 1.5 billion Euros ahead of what analysts had been collectively forecasting – and triple what rival GM earned in a record year of its own.