Volkswagen 1st-Quarter Profits More than Double on Improved Sales

Volkswagen AG, Europe's biggest car maker, said Wednesday that its first-quarter net profit more than doubled as sales showed solid gains worldwide.

The Wolfsburg-based company said it earned €740 million (US$1 billion) in the January-March period, compared with €327 million a year earlier. Sales rose 5.1 percent to €26.6 billion (US$36.1 billion) from €25.3 billion.

Operating earnings, which analysts use as yardstick to gauge a company's health, rose 81 percent to €1.08 billion (US$1.5 billion) from €599 million.

The company has spent nearly two years cutting some 20,000 jobs from its German work force as it strives to become more nimble in the face of rising competition from European and Asian rivals.


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IamEvilHomer - 4/19/2007 12:55:02 PM

+1 Boost

money meens more good cars

EliteRanger - 4/19/2007 1:10:36 PM

+4 Boost

Yes, they are indeed good cars. Throughout Europe, not sure about the rest of the world. We see alot on the roads as they are renown for well built, reliable vehicles with good design, which seems to be improving with every model released.

Rupert - 4/19/2007 2:10:57 PM

+1 Boost

From their 2 SUVs?
This is Vw group right, Audi included?

chewy - 4/19/2007 10:19:54 PM

+1 Boost

Very good news.

rg12345 - 4/20/2007 12:18:27 PM

+1 Boost

Yeap, good news. Not too many people here now, to talk sh.. about VW and their way of following the GM way of losing money/business (as they tried to imput last week in a thread).
I am glad to hear that about VW.