Volkswagen announced on Wednesday that its sales and profits increased sharply during the first quarter of 2008. VW — Europe’s largest automaker by volume — earned $1.5 billion during the first three months of the year, up from $1.1 billion during the same time period a year before.
According to The Detroit News, VW’s operating profits also saw significant gains, jumping 21 percent to $2 billion.
Overall, the VW group — which includes VW, Audi , Lamborghini , Bentley , Bugatti , Seat and Skoda — saw worldwide sales increase 6.9 percent, totaling 1.6 million vehicles. A breakdown by brand is expected to be released on April 30.
Volkswagen said earlier this week that it expects April sales to be up by 7 percent.
As with most automakers, VW is seeing the largest gains in Asia, Europe and South America.
