Manufacturing giant Volkswagen achieved €1.7bn
(£1.5bn) profit after tax in the year’s first quarter, more than
tripling the figure achieved during the equivalent period in
2010.
Revenue for the group rose 31% to €37.5 bn
(£33.4 bn), with a record two million vehicles sold in the quarter,
14% more than in Q1 2010.
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The Volkswagen group’s share of the global
passenger car market rose to 12% in the reporting period, from
11.5% last year.
Meanwhile, Volkswagen’s Financial Services
division turned achieved a first quarter operating profit of €287m
(£256m), up 71% on last year’s result of €168m (£150m).
New business in the financial services
division was up 19.5%, with 700,000 contracts signed during the
quarter. Out of this total, 500,000 were written in the group’s
European markets.
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