Volkswagen scores high in first three quarters of 2010

The German car marvels, Volkswagen have had a remarkable growth the in the first nine months of 2010.

Prof. Dr. Martin Winterkorn, Chairman of the Board of Management of Volkswagen Aktiengesellschaft said with great joy that, the car company has been doing very well in the first nine months and have plastered its position in the market. With the continuous growth, Volkswagen, the German auto maker, is hopeful to achieve its goals by 2018. Volkswagen's success can be accounted to a lot of factors. One of these being  the Volkswagen-Chinese partnership. The outperforming Volkswagen-Chinese partnerships is excluded in the operating profits, because it is based on the equity method. The German manufacturer through their JV in China registered an operating profit of € 1.3 billion which has accelerated from the previous year's € 0.5 billion showing quite a significant growth. The financial output also includes the booming effect of Porsche Zwischenholding GmbH which is calculated to be € 863 million. The profit before the tax is € 4.4 billion to € 5.4 billion.

The Automotive giants is growing in leaps and bounds. The company's financial growth in the first nine months of 2010 have raised the hopes to  achieve the company goals by 2018. The profit can also be allocated to the geographic expansion, new strategies and technologies which Volkswagen introduces time and again.

The Volkswagen Brand is in high demand, it had a record sale in the first three quarters of 2010, than the previous year. The passenger car sales had a growth of 11.8 per cent with the operating profit coming to be € 1.6 billion from € 0.3 billion. Volkswagen Polo, Volkswagen Beetle (new version), Volkswagen Tiguan, Volkswagen Touareg, Volkswagen Jetta and Volkswagen Passat  with demand accelerating have played the trump card for the company. Also the luxury sedans Audi A4 Saloon, Audi A6 saloon, Audi Q5 and Audi Q7 are in great demand. The profit margins have also increased with strategic planning and continuous advancement in technology.

Skoda had an increment of 4.3 per cent in sales which is accounting to 426,000 wheelers and operating profit rocketing to € 314 million. The demand for Skoda Octavia, Skoda Superb and Yeti models.

With the company's growth and financial position scoring upright, Volkswagen plans to stick to the expansion. The company aims at the numero uno position and as per the German Car manufacturers the foundation has been laid. They are positive that the growth in the three quarters of 2010 will be seen in the last quarter of the year too. They are planning massive investment with cost effective measures and bringing quality products in the market.