Volkswagen's Plan Going... as Planned

Back in 2009, when most of the automotive industry players were caught up with more or less impressive efforts to save their own skin, the Germans from Volkswagen planned big. Their goal calls for the people's carmaker of the war years to become the number one manufacturer in the world by 2018, pulling down Toyota from the seat which it occupies from quite some time now.

Now, Volkswagen and its management are confident the 2018 goal will be reached. Even if there are some seven or so years left until then, even if the market is still not back where it was before the crisis and even if Toyota will not watch the VW offensive laying down.

According to Volkswagen, Europe largest auto manufacturing group managed to increase its profitability in the first nine months of 2010. The net liquidity of the group increased to EUR19.6 billion ($27 billion), way up from the EUR13.4 billion ($18.4 billion) reported for the same period last year.

The carmaker sold in the first nine months of 2010 5.4 million vehicles, or 12.9 percent than last year (remember though that even VW's sales were hit in 2009 by the recession). Volkswagen’s global market share climbed well over a percentage point to 11.6 percent.

"We continued our extremely successful business growth in the first three quarters and are therefore well-positioned to achieve the goals laid down in our Strategy 2018," said Martin Winterkorn, Volkswagen chairman of the board.

“Increased demand for our Group models and our disciplined cost management led to these strong results, which have strengthened our sound financial base," added Hans Dieter Potsch, the company's CFO.