Record Profit for VW Last Year

Nearly three months into the new year German auto maker Volkswagen reached the point when it needed to draw the line, add the numbers and post its financial results for last year. Luckily for the car maker with global domination aspirations, the year that ended proved to have been much more generous than the one before it.

According to the numbers released by VW, 2010 was a record year as far as the group's profit is concerned. Having recorded EUR126.9 billion in sales revenue, the German group was able to post an operating profit of EUR7.1 billion. A far better result than the 1.9 billion posted for 2009.

"Our broad and environmentally-friendly model range coupled with our financial strength and the clear strategic orientation of our multi-brand group have contributed to this success. Volkswagen is following a solid, profitable growth course," said Martin Winterkorn, Volkswagen chairman of the board.

"The outlook for the current year is good, too – despite all economic uncertainties. Volkswagen will play a decisive role in shaping the growth anticipated for world markets."

The result for the past year comes to strengthen the conviction of the Volkswagen management that the company is on track to become the largest auto maker in the world by 2018. In the near future, the group plans to build on all the qualities of its existing brands and expand the line-up and its presence in the markets it does business in.

Adding one with the other, Volkswagen is hopeful that the year ahead will prove to be even more profitable than the one which just ended.