Volkswagen Group generated an operating profit of 1.5 billion euros

Despite macroeconomic difficulties, the Volkswagen Group generated an operating profit of 1.5 billion euros in first nine months of 2009, without providing account the over 500 million euros recorded in China.

The performance of each brand in part have been hit heavily by the global crisis, however, but Volkswagen Group reinforced its market position and increased its market share for passenger cars to 11.7% (versus 10%).

In the first nine months, Volkswagen has been a sharp decrease in segment operating profit for passenger cars, from 1.9 billion recorded in 2008 to just 335 million euros this year, due mainly to the 10 percent sales decline.

Audi brand generated an operating profit of 1.2 billion euros (versus 2.1 billion last year) due to decrease by 12% of sales. Lamborgini brand figures included Audi now also have not raised the level registered last year.

At Skoda, sales fell by almost 19% and unfavorable currency exchange rates reduced the company's profits to 162 million euros (455 million recorded in same period of 2008).

Seat has a 19% decline in sales and loss of 228 million euros (compared with 30 million last year) because of the negative situation of the Spanish market.

Bentley brand in the first nine months of 2009 losses of 148 million euros (from a profit of 82 million in 2008).

Volkswagen commercial vehicles division generated an operating profit of 390 million euros (versus 283 million in 2008), including money from the sale of truck business in Brazil. Scania has 98 million euros profit (227 million last year).

Volkswagen believes further that it will fail to register the same level of earnings as the year before, although it is expected to conclude in 2009 profit. "The trend in the auto industry does not give us any reason to be optimistic before long. The business environment remains difficult," the group said. "Although Volkswagen does not foresee that the group could avoid the downward trend that characterizes most markets, we believe that it will record performance above the market average and that they can increase market share during the crisis, the communique also says the company.

Source: http://www.volkswagen.com/