Volkswagen posts record £9.4bn profit

Volkswagen's journey towards automotive global domination continues apace with the announcement that it made a £9.4bn profit in 2011. That's a 50 percent increase on 2010.

The company sold eight million cars during the year - £133bn worth - across all its brands, including Audi, SEAT, Skoda, Bentley, Lamborghini and, of course, Volkswagen.
VW itself shifted the greatest number of cars, over five million, followed by the 1.1m sold by Audi. Skoda was next, with 880,000, then SEAT at 350,000. Bentley and Lamborghini sold less than 10,000 cars between them, while VW commercial vehicles sold around the 600,000 mark.

SEAT and Bentley, despite registering 3% and 37% sales increases respectively, made operating losses.

In an attempt to improve its green image (the company has been the target of Greenpeace for its alleged environmental malevolence), Volkswagen says it will invest £250m into achieving average CO2 emissions of below 120g/km across all its cars by 2015.

To do that, it will fit all its new cars with start-stop, according to a report by Autocar, as well as reorganising its factories so that they're up to 25 percent cleaner.

And in a fit of corporate generosity in stark contrast to the popular conception of banks, Volkswagen is sharing its record profits with its employees, giving each of half a million staff a £6,300 bonus cheque. See, not all corporations are pure evil.
Read Full Story