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Volkswagen: one million vehicles in 2014

Volkswagen is taking strong steps towards its goal of becoming the world’s top automaker. Chairman of the board Martin Winterkorn announced at VW Groups annual corporate meeting that the company’s performance was strong in 2013, and operations results were satisfactory. VW hopes to deliver over one million vehicles globally in 2014, four years earlier than had been originally planned.

VW Group had sales income of 197 billion euros ($271 billion) in the 2013 fiscal year, a 2.2 percent increase. Profits also increased to a record-breaking 11.7 billion euros ($16.1 billion). The company delivered 9.7 million vehicles globally, a 4.9 percent increase from the previous year. The company’s pre-tax profits were 12.4 billion euros ($17.1 billion), and post-tax profits were 9.1 billion euros ($12.5 billion). The company delivered, for the first time in a single year, over 3 million vehicles. The operating profits of VW’s join ventures in China increased to 4.3 billion euros ($5.9 billion).

The company predicts that 2014 sales profits will increase 3 percent from 2013 values, that the return on sales and operations could be 5.5 to 6.5 percent, and that for financial services the return on sales and operations will be between 8.0 and 9.0 percent.

(Rewritten by Oliver Spiro from the author’s article on auto.sina.com.cn)

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