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Thursday, October 27, 2011

Volkswagen Group Operating Profits Soar 86 Percent in the First 9 Months of 2011


Whereas the rest of the European carmakers such as PSA Peugeot and Citroen and the Fiat Group are facing troubled times, the German auto industry is enjoying one of its most prosperous eras ever.

On Thursday, Europe's largest automaker, the Volkswagen Group, announced that it has earned more in the first nine months of 2011 than in the whole of 2010.

The company's operating profit surged to €9.0 billion (US$12.5 billion) from January through September, up from €7.1 billion in fiscal 2010 and €4.8 billion in the same period last year, which represents a staggering 86 percent increase.

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