40% of Volkswagen profits came from China

　　Yesterday, the reporter has learned that pre-tax profits of Volkswagen reached 703 million euros in the first quarter, of which 286 million euros, 40% of total pre-tax profit came from China.

　　In accordance with Volkswagen’s financial statements, in the first quarter, sales income increased by 19.4% to 28.6 billion euros and the global market share in the passenger car segment increased to 11.6%.

　　Martin Winterkorn, Chairman of the Board of Management of Volkswagen AG, said the success of the first quarter consolidated Volkswagen’s strong competitive position. The company will continue to strategically develop new models, technologies and global business to maintain strong growth and ensure that the Group will be leading constantly. The Volkswagen Chief Financial Officer said the primary task of the corporation is to stabilize and strengthen the financial situation.

　　It is noteworthy that in China auto market, in the first quarter, the sales of Volkswagen rose 60% to 457,000 units and the profits reached 286 million euros, triple of the same period last year. Previously, in order to consolidate its advantages in China, Volkswagen announced an additional investment of 1.6 billion euros in China for two new plants and other projects. Volkswagen had released to invest 4.4 billion euros for the introduction of models and technologies before. That is to say, in the next three years, the funds into Volkswagen invest in China auto market will reach 60 billion euros.

　　Currently, China has overtaken German to become the world’s largest market of Volkswagen. Last year, the sales of Volkswagen in China exceeded 1.4 million units.

　　(Translator: Yalong/Jessie)

　　See original Chinese report Please click:http://auto.sohu.com/20100513/n272091803.shtml