The German auto manufacturer, Volkswagen has high aspirations to become the world’s most profitable and largest auto manufacturer. Looking at the sales figures achieved by the firm in the last quarter that ended in September 2011, it seems that the firm is moving on the right track. In the last quarter, the German auto giant observed a 46% rise in worldwide sales. The firm also claims that they achieved a profit of $4.05 billion in the third quarter of 2011.
The January to September 2011 period has observed an overall growth of 14% with 15% profit in China and 20% profit in America. With this pace, the firm wishes to take Toyota’s place as the world’s second largest auto manufacturer, the largest being General Motors.
The firm has keen intentions to expand further on the global level by adding on to their investments. The firm revealed its plans to invest about €62.4 billion in the coming 5 years for the purpose of research and development plants and newer models. Recently, the firm also stated that it would increase its work-force to 500,000 by 2018. In order to achieve their goal of selling 10 million vehicles on a yearly basis, the firm stated that it would hire about 50,000 employees by the end of 2012.
“The past performance of the company shows our strength and stability and this is what will get us ahead despite uncertain economic conditions,” stated Mr. Martin Winterkorn, Chief Executive of VW.