Profit increases for Volkswagen
Profit increases for Volkswagen
Volkswagen AG comes out with the report which says,the biggest quarterly profit in 2 years on superior demand in China and the U.S. for the Golf compact and Audi A5 coupe.
The 2nd-quarter net income went upto 1.25 billion euros from 283 million euros in the previous year, the company said today in a statement.
Profit bangs the 721 million-euro median approximation of nine analysts’ survey. Proceeds rose 22 percent to 33.2 billion euros.
CEO Martin Winterkorn, aims to exceed Toyota Motor Corp. in sales and profitability by 2018, is targeting a second year of record delivery.
In China, Volkswagen announced strategy in the last two months to make two new plants to double manufacturing capacity. VW increases production in China to 3 million vehicles within the four year period from 1.4 million in 2009.
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