The Volkswagen group saw sales revenue in the first nine months of the year rise 24% to EUR144.2bn (US$186.6bn) as its share of the global car market climbed to 12.6% from 12.3% in the same period last year.
But operating profit fell from EUR9bn to EUR8.8bn which the company blamed on “write-downs relating to purchase price allocation for MAN and Porsche.”
CEO Martin Winterkorn said that “although the times aren’t easy, it’s up to us to systematically continue along our chosen path – the right path. We therefore remain committed to our ambitious goals for 2012, despite growing headwinds.”
Consolidated profit rose to EUR20.2bn from EUR13.6bn and finance chief Hans Dieter Pötsch said he was satisfied with business developments in light of the uncertain economic environment.
“We have always said that the second half of the year would be more difficult, so our performance is in line with expectations. We have achieved a robust result.”