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VW Makes Big Earnings Numbers, On Track To Be Global Leader

Confirming it is on track to become the global sales leader Volkswagen revealed it had also hit one out of the park, tripling its net profit for the third quarter of 2011.

Things didn’t go so well for VW’s German rival during the July - September quarter, however, Daimler AG announcing a 15% earnings decline – even though senior officials insisted the company is still on track to deliver better numbers for all of 2011.

Volkswagen’s big increase accompanied a sharp jump in worldwide sales, which reached 6.2 million vehicles during the first nine months of this year.  With VW expected to top sales of 8 million for the full year, industry analysts have predicted the carmaker will outsell rivals General Motors and Toyota, which had led the industry for the last few years but has been hurt by production cuts resulting from the Japanese earthquake of March 11.



Read the whole story at The Detroit Bureau »

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