VW, the world’s second car maker is still improving

The “Think Small” company Volkswagen (VW) continues to make small and big cars and becoming a world powerhouse in car manufacturing and sales. The Wolfsburg, Germany automaker is now the second largest car maker in the world. In 2011 it sold 8.4 million vehicles and earned $18.5 billion. During the first six months of 2012, its sales rose 23 percent generating €95.4 billion. It plans to become the world’s biggest car maker by 2018 and sell more than 10 million units. The Porsche family still holds the majority of common shares of the company.

It produces eight brands including VW, Porsche, Bentley, Bugatti, Lamborghini, SEAT, Skoda and Audi. It holds a commanding 12.4 percent of the global auto market share. In Europe, its biggest market, it has a 24 percent market share and China has become a success story for VW. VW has three main street best sellers; Beetle, Golf and Passat. Audi has become world’s bestselling luxury vehicle and makes more money for the company.

Moving forward economic slowdown in Europe and China is its main worry. Car sales in Europe dropped seven percent during the first half of 2012. However, Audi still the bestseller in China and elsewhere.

Comments are closed.