"The Volkswagen Group is holding its own extremely well despite the adverse conditions. While the global market is contracting by 12 percent, we are recording stable delivery levels. This proves that – even in difficult times – we are well positioned with our multibrand strategy," said Prof. Dr. Martin Winterkorn, Chairman of Volkswagen Aktiengesellschaft’s Board of Management.
"We have again proved that we are maintaining our financial flexibility during the crisis, too," added CFO Hans Dieter Pötsch. "We will continue to exploit our opportunities on the market, while maintaining strict cost discipline and ensuring our liquidity," he continued.
Specifically, the Volkswagen Passenger Cars unit recorded a 10 percent decline in the first nine months of the year, with operating profit reaching 335 million euro. The Audi brand on the other hand dropped 12 percent and posted an operating profit of 1.2 billion euro. Skoda fell 19 percent and brought back 162 million euro.
SEAT and Bentley are the two brands that recorded operating losses, with 2009 figures reaching 228 million euro and 148 million euro, respectively.
Volkswagen Group said it expects the drop to continue in the remaining months of the year but hopes to outperform the industry and increase its market share all over the world.
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