Profits triple at Volkswagen Group
According to the interim report, operating profit was up by 3.3 billion euros to a total of 4.8 billion euros. Group sales revenue was up 19.9% year-on-year at 92.5 billion euros.
Group deliveries to customers were up 12.95% year-on-year to 5.4 million vehicles. Global market share increased from 11.5% to 11.6%.
The Volkswagen Group said that it continues to forecast significantly higher vehicle deliveries for 2010 compared to 2009, helped by the launch of key new models.
However, in a statement the group said that growth would not continue as strongly in the fourth quarter.
It added: 'Nevertheless, we believe that the group's sales revenue and operating profit in 2010 will continue to perform positively, despite shifts in volumes between the markets. In addition, exchange rate effects will have a positive effect on earnings. We will also continue to focus on disciplined cost and investment management and the continuous optimisation of our processes. In doing so, we will systematically pursue the core elements of the "18 plus" strategy – ecological relevance and the return on our vehicle projects.'