VW profits jump in first quarter

VW profits jump in first quarter

April 28th, 2011 by Staff Report in Business Around the Region

Volkswagen AG reported record operating profit in the first quarter Wednesday with earnings before interest and tax more than tripling to $4.27 billion.

"Business developments in the first quarter demonstrate the Volkswagen Group's strength and robustness," said VW Chief Executive Martin Winterkorn.

First quarter deliveries worldwide were 1.99 million, up 14 percent. VW this month started producing vehicles in Chattanooga for sale.