Volkswagen reported today that its third-quarter net profit rose more than 10-fold to $3 billion on strong demand and cost controls.
"The Volkswagen Group continues to have its sights firmly set on capturing pole position in the automotive industry," said VW Group Chief Executive Martin Winterkorn in a statement.
He said the foundations for VW's success are "our presence in all key regions of the world, our focus on pioneering products and our drive to be the technology leader in all relevant areas."
VW finance director Hans Dieter Poetsch said increased demand for its group models and disciplined cost management led to these strong results, which have strengthened its financial base.
VW, which is building an auto assembly plant in Chattanooga, maintained its full-year targets.
VW wants to overtake Toyota as the world's biggest automaker by 2018.