Volkswagen's 2006 Profit More Than Doubles to $3.61 Billion

Volkswagen's 2006 Profit More Than Doubles to $3.61 Billion
Volkswagen AG, Europe's biggest car maker, said Tuesday that its 2006 net profit more than doubled on strong sales but its operating profit was halved by costly restructuring efforts that have seen thousands of jobs eliminated.

The company earned €2.75 billion (US$3.61 billion) in 2006, compared with €1.12 billion in 2005. Sales rose 11 percent to €104.9 billion (US$137.75 billion) from €94 billion a year earlier.

Helping results was the March 2006 sale of Europcar, the continent's largest car rental company, to French investment firm Eurazeo SA in a €3.32 billion deal.

The company did not break out quarterly figures for the final three months of 2006. It was expected to release them March 9 in a more detailed earnings report.


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MazmanMazman - 2/20/2007 12:42:15 PM
0 Boost
That Success Was Lead By The Phaeton, hahahaha


chewychewy - 2/20/2007 3:19:38 PM
+1 Boost
VW has been making profit while makin necessary changes. Good job.


truecarlovertruecarlover - 2/20/2007 10:55:09 PM
+2 Boost
I think you are correct - this profit all come from Audi (with maybe a small part from Bentley). This is like the children supporting the parents. In that case the children (Audi) should start to call the shots. It seems Audi is the one with all the engineering prowess and VW just tries to use the innovation on their lesser siblings. Volkswagen needs to focus on price point in the U.S. The currency situation negatively affects them more than the Asian carmakes - but it would help if the vehicles were more interesting.


S4cabriofoxoneS4cabriofoxone - 2/21/2007 11:51:22 PM
+1 Boost
I completely agree!

Sad, but true. VW needs to get out some more.


LarryLarry - 2/20/2007 6:44:44 PM
-2 Boost
BMW Group makes more money than the whole VW Group ( Bentley, Audi, VW, Skoda, Seat, Etc.) BMW makes three times more than Audi in 2006, and for the past 30 years, look it up on google.


chewychewy - 2/20/2007 6:51:51 PM
+1 Boost
3.6 billion isn't bad, no show me a link with BMW earning 10+ billion.


LarryLarry - 2/20/2007 6:58:06 PM
-1 Boost
I said 3 times of Audi's 1 billion Euro profit. BMW 4 billion euro, $5.24 billion US dollars vs. VW group 3.61 billion US dollars they have not posted the figures, could be more money, , they had a great 2005 also. Chewy trying to twist the truth, again.


S4cabriofoxoneS4cabriofoxone - 2/20/2007 7:53:29 PM
+1 Boost
Larry, your point?

Profitability, like sales, does not mean the cars are better.

Are you saying Toyotas are vastly better than BMWs?


chewychewy - 2/20/2007 10:22:40 PM
+3 Boost
Yes, this is quite a lot of money made for a company in restructering. Don't worry, one day Toyota will loose quite a bit in a particular year.


Type707Type707 - 2/20/2007 11:01:23 PM
+2 Boost
On the design standpoint I think that VW is improving their looks. Does anyone know if VW is considered a reliable??? Im not to familiar with their reviews.


KostinKostin - 2/21/2007 4:07:15 AM
+2 Boost
VW is and probably will be a bestseller in Europe.However,there is another brand with a huge succes in Europe that gets better each year and helps VW's profit.It's the Skoda.


SixxFiveSixxFive - 2/22/2007 12:00:35 AM
+1 Boost
In the USA, the largest market in the world, VW has not made a profit since 2002 and is not expected to do so until 2009/10.
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