VW Breaking Records In Tough Times
March 13, 2009
VW's annual media conference yesterday in Wolfsburg. Click on images for larger views.
While many carmakers lay off workers, shutter factories and beg governments for bail-out cash, Volkswagen is bucking the trend — reporting record unit sales, record revenue and record profit.
Amid the severe global economic downturn, the Volkswagen Group — which includes VW, Audi, Lamborghini, Bentley, Skoda, SEAT and others — sold a record 6.3-million cars in 2008, representing $145.3 billion in revenue and $6.0 billion in profit.
The news came yesterday at VW's annual media conference in hometown Wolfsburg, Germany. CEO Martin Winterkorn commented that "2008 was a good, a very successful year for Volkswagen. We made tremendous efforts throughout the entire company to achieve our ambitious targets, and we achieved them."
VW CEO Martin Winterkorn:
'We're continuing in the fast
lane and our tank is full.'
However, the company is expecting a much slower year for 2009, with a possible sales decline of 10 percent.
"An extremely difficult year lies ahead of us. The strengths of our multi-brand Group are now paying off, and that's why I believe that Volkswagen will take pole position in the period after the crisis when the markets pick up again. We're continuing in the fast lane and our tank is full."
The Volkswagen Group's ultimate goal is to become the top car company in the world by 2018. It is currently third behind General Motors and Toyota, which are both faring much worse during these troubling economic times.