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VW profits soar in Q3

Germany's car and truck maker, VW, announced operating profits of more than €4.83bn ($6.7bn) in the first nine months of 2010.

Lamborghini Sesto Elemento

The Lamborghini Sesto Elemento Image: VW/Lamborghini

The company, which, as well as Volkswagen, owns the Audi, Seat, Porsche, Skoda, Bentley and Lamborghini car brands and Scania trucks, saw huge profits boosts as it recovers from the financial slump of the last two years.

Total vehicle deliveries climbed by nearly 13% to 5.4 million over the period, with sales up a fraction short of 20% at €92.5bn ($128.6bn) and net income increasing six-fold from the same period in 2009 to a little over €4bn ($5.6bn).

According to VW, the figures were helped by strong sales in China, North and South America and Western Europe.  There were also benefits from share options released from the recent purchase of the luxury Porsche brand.

The company predicts a "positive" year overall, although it expects a quieter fourth Quarter. The company's brands had a busy year with new and varient model launches across almost all the marques, as well as all-electric concept vehicles from Skoda and Seat.

 

Tags: automotive industry, Corporate News, Europe, Volkswagen

Published 25th October, 2010

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