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VW Inching Towards Profitability in the States

2011 sales should hit 300,000 despite slow U.S. recovery.

by on Sep.29, 2011

The new U.S. version of the Jetta has been instrumental in VW's American revival.

Long operating deep in the red, Volkswagen’s U.S. sale unit is on track to turn a profit for the first time since 2003, according to the German maker’s top American executive.

“This is our expectation,” Jonathan Browning, Volkswagen Group of America’s president and chief executive officer told reporters after an appearance at the Society of Automotive Analysts’ annual strategic planning summit.

VW’s luxury arm, Audi saw its North American sales operations become profitable last year, Browning added, in the face of steady growth in demand.

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“This is a very narrow definition of profitability,” Browning cautioned, noting that it doesn’t include financial statements from the company’s parts distribution network, nor does it include the share of corporate overhead allocated to North America by VWGoA’s parent company in Wolfsburg, Germany.