Breaking! Volkswagen Represents Deutschland, Double 2nd Quarter Profits

WOLFSBURG, Germany - The Volkswagen Group sold more vehicles, substantially increased sales revenue and improved earnings in the first six months of 2006.

Deliveries to customers were up by 11.9% year-on-year to 2.9 million vehicles. Sales revenue rose by 14.2% to €51.9 billion. At €2.0 billion, operating profit before special items increased by 51.3%. “Our model initiative is successful and our customers find it compelling. We have increased our market share in relevant countries,” commented Dr. Bernd Pischetsrieder, Chairman of the Board of Management of Volkswagen AG, when the interim report for the first six months of 2006 was presented on Thursday. “We are on the right track and have made significant progress in improving our competitiveness. In absolute terms, however, our profit remains unsatisfactory. Further considerable efforts are still needed to secure sustained profitability and the future of our Group,” Pischetsrieder said.

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chewy - 7/27/2006 3:16:45 PM

+1 Boost

It loooks like VW is doing well. Good job.