Volkswagen maintains growth in 2011
Posted by Susannah Mayers
Volkswagen Group enjoyed continued profit growth in the first three months of this year, new figures have shown.
The company achieved an operating profit of €2.9 billion (£2.58 billion) from the start of the year to the end of March, which is an increase of €0.8 billion on the previous quarter.
Some two million vehicles were sold by Volkswagen in the quarter, which is the first time this has been achieved by the company in a three-month period.
On top of this, sales revenue increased by more than 30 per cent to €37.5 billion.
Hans Dieter Potsch, chief financial officer at the car manufacturer, said: "The Volkswagen Group has got off to a good start. Our sound finances and continuous improvements in profitability are the basis for the Volkswagen Group's successful future."
Last month, the Volkswagen Group acquired the operating business of Porsche Holding Salzburg for €3.3 billion.
It announced that the registered office and corporate headquarters of Porsche Holding would remain in Salzburg.
