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Posts Tagged ‘VW 10 million units’

Volkswagen Reports 20 Percent Profit Jump

Audi, Porsche results lead to strong results.

by on Feb.27, 2015

VW CEO Martin Winterkorn is expressing caution about 2015 after a strong 2014.

Volkswagen reported a 20% increase in net profits in 2014 and despite predicting it would meet it’s lofty ambition of selling 10 million units this year – three years early – it is cautious about 2015.

“Given the subdued growth prospects in regions outside China, there is no guarantee that 2015 will be a successful year – either for the industry or for the Volkswagen Group”, said Chief Financial Officer Hans Dieter Pötsch.

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The automaker was led by strong sales years by its luxury unit, Audi, and sports car maker, Porsche. Actually, if you include heavy-duty trucks, VW exceeded that number by delivering a total 10.14 million, which is an increase of 4.2%. However, the number was meant for passenger cars and it expects to hit the number. (more…)

VW Pushes to Top 10 Mil Global Sales – Despite U.S. Struggles

New U.S. plans could prove critical to catching Toyota.

by on Jul.14, 2014

Despite strong sales in China, VW isn't on pace to make its global sales target of more than 10 million vehicles this year, in part because U.S. sales are down.

Volkswagen AG fell a bit short of its ambitious push for global dominance during the first half of 2014, despite its strong and growing presence in China – and its weakness in the U.S. market is largely to blame.

VW reported its deliveries worldwide increased by 5.9%, to 4.97 million vehicles, though if it hadn’t suffered another decline in the American market it almost certainly would have broken the 5 million barrier, putting it well on its way to move 10 million cars, trucks and crossovers for all of 2014.

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But VW is taking steps to rectify its problem in the U.S., the maker on Monday announcing it will spend about $900 million to double the size of its current assembly plant in Chattanooga, Tennessee, to handle production of the long-awaited midsize crossover based on its well-received CrossBlue Concept. (more…)