VW sales may hit record in 2012

Published:  13 Mar at 6 PM

As reported by the BBC, carmaker Volkswagen has announced that 2012 could be yet another record year, as sales are anticipated to surpass last year’s net total of 8.3 million vehicles. The firm also stated that 2012 profits may match 2011’s, when profits hit 15.8 billion euros ($21.2 billion; £13.4 billion), double its 2010 surplus.

VW aspires to become the globe’s biggest and most lucrative automobile maker before 2018. The record figures triggered a large payout for VW CEO Martin Winterkorn, who took home 17.5 million euros in salary and bonus money. This was almost double the figures he made in 2010.

Mr Winterkorn announced in a statement that the company remained “on track” in reaching the top of the car industry. Volkswagen has experienced strong growth among emerging makers, including China, Latin America and India.

Mr Winterkorn said the European, Chinese and South American Volkswagen groups were already on top, while in other regions the firm was continuously gaining more market shares. The United States Volkswagen brand saw an increase of over 42% and just saw February as its best month in the last 40 years.

The Audi brand also had an especially strong year, as its operating profits reached 5.3 billion euros in 2011, making it Volkswagen's most lucrative brand. VW expects to spend 62 billion euros on new factories and R&D during the next six years. The firm will also expand its staff by 50,000.