Volkswagen’s profit for the first nine months of last year increased by 86% over last year

Volkswagen has announced its financial statements for the third quarter and the first three quarters. Despite the weakness in the European market, the growth in revenue and profits in the third quarter and the first three quarters was significant under the market represented by China, and it was operating in the first three quarters. Profit has exceeded the total amount of profit for the whole year last year.

In the third quarter, Volkswagen’s worldwide sales increased by 16.2% to 2.067 million units from 1.779 million units last year. Accumulated sales in the first three quarters increased by 16.0% to 6.20 million units from 5.354 million units last year. In the third quarter, production increased by 20.2% from 1.762 million last year to 21.17 million units. Accumulated production in the first three quarters increased by 16.0% from 5.348 million units last year to 6.301 million units.

In the third quarter, sales revenue was 38.512 billion euros, an increase of 25.3% from 30.728 billion euros in the same period of last year. Accumulated sales revenue in the first three quarters was 116.227 billion euros, which was 25.6% higher than the 92.547 billion euros in the same period of last year.

The most significant increase is for profit projects. Operating profit after deducting interest and tax expenses, the third quarter increased from €1.985 billion in the same period last year to €2.891 billion, an increase of 45.7%, while the cumulative operating profit for the first three quarters was $4.862 billion for the same period of last year. The euro increased to 8.977 billion euros, an increase of 86.0%; the profit rate also increased from 5.2% to 7.7%. It is noteworthy that the operating profit for the whole year of 2010 was 7.1 billion euros, which means that the operating profit for the first nine months of the year has exceeded the full-year level of last year.

According to the brand and business division, the demand for Polo, Tiguan, Golf, Jetta and Passat was very strong. In the first three quarters of the Volkswagen brand passenger car sales, global sales increased by 16.7% from the previous year's 2.8 million units to 3.3 million units. Operating profit from last year’s 17 Euro billion rose 94% year-on-year to 3.3 billion euros.

Audi brand luxury car sales in the first three quarters increased by 17.8% year-on-year to 1.1 million units (last year, 1 million units), and operating profit surged 74.4% year-on-year to 4 billion euros (2.3 billion euros last year). Among them, the Audi Q5 and Q7 models have achieved the highest increase, and the new Audi A1, A7 sports car and A8 are also heating up in the market.

The Skoda brand has increased from 466,000 vehicles last year to 511,000 vehicles, an increase of 19.9% ​​from the same period last year. Operating profit has doubled from 261 million euros to 575 million euros, an increase of more than 120%.

The Spanish branch's gains in the SEAT brand were weak, from 260,000 in the first three quarters to a slight increase of 2.7% to 267,000, and operating profit also fell from the previous 218 million euros to 101 million euros.

In the first three quarters of the luxury car Bentley, sales increased from 3,000 units last year to 5,000 units, an increase of 51.2% year-on-year. However, a large proportion of operating profit fell, from 145 million euros to 6 million euros.

Volkswagen commercial vehicles increased 32.4% from 328,000 vehicles to 328,000 vehicles, and operating profit more than tripled, from 142 million euros to 328 million euros.

Scania Trucks in Sweden sold 59,000 vehicles in the first three quarters of the year, an increase of 35.4% from 44,000 vehicles in the same period of last year, while operating profit increased from 900 million euros to 1.1 billion euros.

Volkswagen Financial Services Co., Ltd. generated operating profit of 876 million euros during the same period, an increase of 27.9% from last year's 684 million euros.