Volkswagen posts higher profit despite tough trading conditions

Volkswagen have posted an operating profit of €2.77bn (£2.38bn), despite difficult market conditions. That's up from last year's €2.32bn. Group deliveries increased by 4.8 per cent to 7.2m vehicles worldwide.

In spite of negative conditions in Europe and exchange rate impacts, sales revenue increased to €146bn in the first nine months of 2013. Volkswagen's share of the passenger car market rose year-on-year to 12.7 per cent. The company is hoping to build on last year's success, which saw the company achieve record sales and deliveries.

Prof. Dr. Martin Winterkorn, chairman of the Board of Management of Volkswagen said:

The goals we have set ourselves for the current fiscal year are very ambitious given the extremely difficult economic environment. But, as before, we are standing by these goals. I am convinced that 2013 will be a solid year for the Volkswagen Group thanks to our outstanding model range and broad global presence.

Volkswagen chief finance officer, Hans Dieter Pötsch, said:

We are focusing on disciplined cost and investment management, as well as on further improving all of our processes. Together with our outstanding products, we believe that this is the right path towards becoming even more competitive. This is particularly important given the fact that the economic environment is not expected to improve in the short term.