Volkswagen AG announced an increase in profits to 1.71 billion euros or $ 2.51 billion, a significant increase of the 473 million euros that it successfully during the same period last year. The profit figure published by the company bat also the 1.63 billion euros seven average estimate analysts respected by Bloomberg had predicted earlier. This marks an increase of revenues of the company by 31% to an impressive EUR 37.5 billion. According to the company CEO, Mr. Martin Winterkorn, the rise in demand in China will also help to benefit as income at the peak of the company. The company also stated that shipments for 2011 will increase by 5 per cent of 7.2 million vehicles that he delivered in 2010.
Deliveries of products VW in China alone increased approximately 20% in the first quarter of this year. The company announced that it sold 1.97 million units worldwide in the first quarter, with several models such as the VW Tiguan compact SUV with the Audi A7 rear Sport new and redesigned A8 sedan that make up the bulk of sales. This interval, the company also seeks to various emerging markets such as China, to the Brazil, the India and the Russia to achieve its stated objective of becoming more constructor grand world, for which it will have to be more efficient than Toyota Motor Corp..
Also, the net cash of the car division of Volkswagen continued to be raised to EUR 19.6 billion in the first quarter after it increased by EUR 1 billion over this period. This which makes it even more impressive is the fact that the liquidity of the company has increased despite the ambitious resumption of Volkswagen of Porsche Holding Salzburg, Europe largest car retailer in a contract of EUR 3.5 billion. That is not everything for Volkswagen pickup participation of 8.18% in Germany SGL Carbon-based, which is to become the second largest shareholder of SGL, VW then only of BMW AG.
