VW Group records a two fold rise in profits for the year 2011

Wednesday 29 February 2012, 13:21 PM by Vikas Yogi

The German multinational automobile manufacturing group, Volkswagen Group acquired the position of being the second largest automobile manufacturer in the world with its sales exceeding 8 million vehicles in the year 2011 following the global pioneer, General Motors, which registered a sale of 9.03 million units.

The VW Group, during its long experience of 75 years in this industry has recorded such massive sales, which have surged by 15 percent and its financial statements reveal that the profits increased by a whopping 100 percent. The auto maker’s net earnings soared steeply from $9.19 billion in the year 2010 to $20.72 billion in the year 2011, while the revenues hiked to about $214.21 billion, which is greater by 2 percent than the estimated profits for the year 2011.

The company Chinese alliances, Shanghai Volkswagen and the FAW-Volkswagen, recorded a combined sale of 2.26 million units in 2011, which significantly contributed to the huge sales for the VW Group. The European auto market response has been sluggish for quite some time but the auto maker geared up its sales performance to rise as the largest automobile manufacturer in the continent.

With renowned brands in its global portfolio such as Audi, Lamborghini, Bugatti, Bentley, Skoda, Seat, Porsche and Volkswagen, the group is aiming high to secure top position for itself by the year 2018.

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