VW Posts 22.6% Increased Revenue and 6.7% Increased Profit

VolkswagenVolkswagenGermany, 1938 > present98 models
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has posted a 22.6% increase in revenue to €95.4 billion and increased profits by 6.7% to €6.5 billion in the first half of the year. It now controls 12.3% of the global automotive market. 

“We can be satisfied with our performance in the first six months. Our strong position in the international markets will enable us to outperform the market as a whole – despite the challenging environment," said Dr. Martin Winterkorn, Chairman Volkswagen AG. 

Volkswagen says that its automotive division holds a net liquidity of €14.9 billion. At the end of 2011, VW had €17 billion in net liquidity. The difference is almost entirely due to VW buying a larger stake of MAN commercial vehicles.

VW Group sold 4.6 million cars in the first half of the year, which is up 12.4% from the 4.1 million cars it sold in the first half of 2011.

VW cars sold 2.4 million cars up 9.5% over last year. SkodaSkodaCzech Rep., 1895 > present57 models
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sold 408,000 cars worldwide up 12.6%. MAKE|1526|Seat} sold 16% more cars with 218,000 sold globally but posted a €6 million loss. BentleyBentleyUnited Kingdom, 1919 > present37 models
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sold 47.8% more cars with 5,000 sold worldwide. VW Commercial Vehicles sold 228,000 up 4.8%. Scania sales were down 20.5% and sold 32,000 cars in the first half of the year. 

AudiAudiGermany, 1909 > present83 models
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will report is financial information separately in a few days, but VW AG said that it sold 678,000 cars.

Volkswagen expects to remain strong through the rest of the year and believes the introduction of the new Golf will be a major sales success. As of August 1, PorschePorscheGermany, 1931 > present43 models
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will officially become a financial part of VW Group.