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Volkswagen increases profits
Apr 28 2009 VOLKSWAGEN has bucked the global car trend and managed to make a profit during the first quarter of 2009, it has announced.
Figures released by the car manufacturer reveal it generated an operating profit of €312 million (£278 million) during the period, demonstrating a strong performance in tough times.
While many automakers have seen their profits fall in recent times, Volkswagen has managed to remain in a consistently strong position.
Its surging profits during the first part of the year were boosted by the growth in the car market in Germany in particular, where a government-backed scrappage scheme helped to stimulate demand for new cars.
Volkswagen's success could also see more people looking to buy used cars from the company in future, as its sales outlook remains relatively bullish despite the international recession.
Volkswagen chief executive Martin Winterkorn was recently awarded the Man of the Year title by French industry magazine Le Journal de l'Automobile for his efforts to keep the firm moving forward despite the deepening gloom.
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