this week VW announced record sales for the last year...
guess they aren't doing to bad after all...
Quote:
Volkswagen brand announces record deliveries for 2006
The Volkswagen Passenger Cars brand sold more vehicles last year than ever before in the history of the company. A total of 3.395 million vehicles were delivered to customers worldwide in 2006, representing a 10.0 percent increase on the previous year. “Growth was noticeably stronger for the Volkswagen brand than for the world market in 2006. Key markets recorded quite significant growth in some cases. With these record figures, Volkswagen has strengthened its position as one of world’s largest automakers,” Dr. Wolfgang Bernhard, chairman of the Volkswagen brand board of management, commented in Wolfsburg.
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Quote:
Volkswagen Group delivers record 5.73 million vehicles in 2006
All brands and major regions with higher sales
In 2006, the Volkswagen Group delivered more vehicles to customers than ever before. The Group sold 5.73 million vehicles worldwide, corresponding to a rise of 9.3 percent compared with the previous year. “There was a marked increase in Group deliveries in all major regions. All brands contributed to this record”, Prof. Dr. Martin Winterkorn, Chairman of the Board of Management of Volkswagen AG, commented in Detroit on Sunday. “I would like to thank everyone involved for this outstanding achievement. Above all, my thanks go to our customers, who once again showed great confidence in Volkswagen Group products last year.”
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5.73 millions cars, 9.3% more then in 2005
how does that related to any of the American car producers?
just had a quick look at the 06Q3 reports ( Q4 isn't out yet)
seems like they are discussing .... profits...?
Quote:
January – September 2006 Key Points
• Increase in Volkswagen Group operating profit before special items of 62.0% year-onyear
to €3.0 billion, but still below our medium-term Group target
• Negative one-off effects mainly from restructuring expenses and positive one-off factors
from the sale of equity investments reduced Automotive Division operating profit by a net
€1.7 billion
• At €628 million, Automotive Division operating profit after special items 43.9% lower than
in previous year; Financial Services operating profit remains at high prior-year level
• Special items reduced consolidated pre-tax profit from continuing operations by 7.1% to
€937 million year-on-year
• Consolidated profit after tax rises 76.6% year-on-year to €1.2 billion (previous year: €0.7
billion), even with an above-average tax rate for continuing activities due to substantial
special items
• Ratio of investments in property, plant and equipment (capex) to sales revenue in the
Automotive Division at 3.1% (previous year: 4.4%)
• At €8.2 billion, net liquidity in the Automotive Division remains at a high level
• New model initiative successfully continued
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i'm no financial analyst, if anybody is , please have a look on their website and give us the low down, but it looks to me they are using black markers in their accounting books.. they do seem to be making profit
perhaps less then investors would like, but still , a profit... how much profit do they make in Detroit these days? GM? Ford?