Volkswagen Q2 earns jump 18 percent
Thursday, July 26, 2012
FRANKFURT, Germany (AP) — German automaker Volkswagen says second-quarter earnings jumped 18 percent from a year ago, helped by stronger demand for cars in emerging markets and North America.
Net profit for the April-June period increased to (euro) 5.64 billion ($6.84 billion) from (euro) 4.78 billion a year ago.
Revenues increased 19 percent to (euro) 48.1 billion.
The Wolfsburg-based manufacturer said that worldwide demand for cars increased in the second quarter in the US, China, Russia and India, and would increase again in the second half of the year — but at a slower pace.
It said the car market would shrink in western Europe, where economies are slowing due to spending cutbacks and consumer worries due to a crisis over too much government debt.