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Christopher Bruce2012-03-12 14:40:56

Volkswagen Group Sets Earnings Records for 2011

Volkswagen Sets Earnings Records for 2011

Volkswagen Group had a very strong financial year for 2011 by setting records for vehicle sales, revenue and earnings. It is the first time ever the brand sold more than 8 million vehicles in a year. 

The VW Group did very well this year. Revenue was up 25.6% to €159.3 billion and profit was more than double 2010 at €11.3 billion. The company has a net liquidity of €17 billion. 

Deliveries were up 14.7% to 8.3 million vehicles, and the company now holds 12.3% of the global car market. VW, Audi, Skoda, Seat and its commercial vehicles all increased deliveries. It has an average pre-tax return on sales of 11.9%. 

The group believes that it is on track to achieve its goal of being the world's largest automaker by 2018. It wants to sell 10 million vehicles by 2018 as well. 

In the shorter term, Volkswagen wants to have an average fleet emissions of 120g/km of CO2, which will take a 10% to 15% increase in emissions across the board for VW. Volkswagen plans to do this by making start/stop standard on all models. It is making a €600 million investment in renewable energy. 

Already in the first two months of 2012, Volkswagen deliveries have been up 7.7% over 2011. It will launch the next generation Audi A3 and Volkswagen Golf later this year, which it expects will be very successful.

"Above all, because this year, we will again be launching more than 40 additional new models, successors and product enhancements across the Group. As a result, we expect to increase deliveries to customers year-on-year," said Chairman of the Board of VW Group Prof. Dr. Martin Winterkorn.





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