Tuesday, March 13, 2012
VWFS global results spur target of 10m cars
The Volkswagen Group has declared its ambition to sell 10m vehicles in a year is on track following 8.3m vehicle deliveries in 2011 and buoyant revenue across the group, including Volkswagen Financial Services (VWFS).
VWFS operating profit for the year was €1.2 billion (£1bn), up 28.76% from €932m (£784m), and leading Volkswagen to declare it a “key success driver”.
VWFS signed off 3.1m new finance, leasing and insurance contracts worldwide in 2011, an increase of 16.2 per cent compared with 2010, and following the announcement late last year ofgrand plans for European market growth.
Sales revenue for the Group rose by 25.6%, year-on-year, to €159.3bn (£134bn) with an operating profit of €11.3bn (£9.5bn). The Group expects both sales volume and revenue to grow across 2012, while the brand was one of only three of the top 10 brands in Europe not to experience a new sales slump at the start of the year.
Portfolio breakdown
Volkswagen Passenger Cars sold 5.1 million cars in 2011 with operating profit up by 74.7 per cent to €3.8bn (£3.2bn), figures which have seen the brand retain third place in the UK market and close the gap on second-placed Vauxhall.
Audi set a new record of 1.3m units sold, up from 1.1m in 2010, with an operating profit of €5.3bn (£4.5bn, up 60.1%, year-on-year).
Czech brand Škoda shifted around 879,000 vehicles, up 15.3%, on the back of strong growth in Russia, India and China, raising operating profit by 66.1% to €743m (£625m). 45,000 unit sales were accounted for in the UK where the 2.3% market share has seen the brand announce new dealership openings and improvements in 2012.
Seat moved 350,000 vehicles, a 3.1% rise on 2010. The Spanish marque continues to operate at a global loss, although that was reduced by 27.65% to €225m (£189m).
Worldwide deliveries of Bentleys rose from 5,117 units in 2010 to 7,003 in 2011, moving from an operating loss of €245m (£206m) to a profit of €8m (£6.7m).
DATED: 13.03.12
FEED: MF
