Posted on 03/02/2009 8:29:37 AM PST by wolf78
FRANKFURT (AFP) — Volkswagen, Europe's biggest car maker, said on Monday its 2008 profit rose 15 percent and it expected to gain market share during the current global automotive sector crisis.
A VW statement said 2008 net profit came to 4.75 billion euros (6.0 billion dollars) as sales rose 4.5 percent to a record 113.8 billion euros, with operating profit up 3.0 percent to 6.3 billion euros.
The 2008 dividend was increased seven percent to 1.93 euros per share.
"We met our target and surpassed our record results for 2007 even though conditions were tougher," chairman Martin Winterkorn said.
VW said it aimed to do better than the sector as a whole in 2009 and "will be able to gain additional market share during the crisis," but it added that sales and earnings were expected to decline.
In additional news:
VW plant may spur more business ties
Drive for Volkswagen: Tour for German Leaders
German Delegation Visits Chattanooga
(Excerpt) Read more at google.com ...
Hitler would be proud...
Uh, VW's car sales were UP for 2008. Maybe they were just providing the vehicles that the public wants.
You know what they say, even a broken clock is right twice a day. For Hitler that would be VW and the Autobahn.
Well it helps in the short term when there is a “scrapping bonus” in Germany...
http://www.spiegel.de/international/business/0,1518,610076,00.html
What are these people doing right? Why not send the GM executives to spend a little time working on the line in a VW plant. GM should copy the success of the Germans.
I know that in the past they sold Diesel cars in the US when hardly anybody else did.
Herbie rides again!!!
My husband is mid-40’s worked in IT management level in manufacturing, mostly auto industry. Has been laid off (as have many) for well over a year. I still have a home in Chattanooga and both my children live there. A job with the new plant in Chattanooga would be a God send for us.
I was thrilled to see VW is did well in 2008. Having their first manufacturing plant in TN will help TN and opens up new possibilities for VW in the US.
Are they buying the Saturn plant?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.