Volkswagen Remains On Track, Profits Rise 15% In 2008 While Market Share Increases

Volkswagen AG, Europe’s biggest carmaker, forecast that it will increase worldwide market share as new models partly offset an industrywide drop in vehicle sales following an increase in profit last year.

Net income rose 15 percent in 2008 to 4.75 billion euros ($6 billion), or 11.92 euros per basic ordinary share, from 4.12 billion euros, or 10.43 euros, the Wolfsburg, Germany-based carmaker said in a statement today. Revenue rose 4.5 percent to 113.8 billion euros.

Volkswagen’s global presence and models such as the Golf and Fox that have attracted customers seeking economical transportation helped the carmaker counter the effects of the worst recession since World War II. Group deliveries rose 0.6 percent last year to a record 6.23 million vehicles on demand for Audi and Skoda models.

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sector - 3/2/2009 5:02:22 PM

-8 Boost

man, who keepin' on buying these unreliable machinery :)

Star - 3/2/2009 5:07:58 PM

+6 Boost

People who are not brainwashed by Consumer Reports.

neutral - 3/2/2009 10:14:00 PM

+3 Boost

Star,

Well I just graduated from the Liberal Arts college (UCLA) and while sipping my mocha latte at starbucks, I was reading Consumer Reports and they said that I need to buy a Honda or Toyota. I don't care about the vast array of other automotive publications that indicate that GM, Ford, Mercedes, VW make great cars. Consumer Reports would never lie and I mindlessly buy whatever they order me to.

(Sarcasm)

Go VW! At least someone is making money.

I just read today that Toyota's cash burn was 2nd only to GM's cash burn for 4th quarter..... I think hell is starting to freeze over and pigs are starting to fly. It is going to be a very interesting/agonizing year.

Either way, Kudos to VW. Screw consumer reports, looks like their "reliability & quality" ratings only apply when people look for a reason NOT to buy a domestic.

Star - 3/2/2009 5:05:40 PM

+4 Boost

Well done VW. Still best in class!

uall - 3/2/2009 6:42:17 PM

+4 Boost

They just make fantastic cars and the reliability issue is more forum troll related

chewy - 3/2/2009 7:07:11 PM

+2 Boost

Probably the only automotive brand in the world that is still doing pretty well. 2009 will be tougher still.

EducatedOpinion365 - 3/2/2009 10:24:35 PM

+3 Boost

even though i do not personally care for porsche/vw its good to see someone doing good in this economic meltdown