VW China reports 5.4B yuan quarterly operating profit
Volkswagen AG reported a first-quarter operating profit of 557 million euros (5.3 billion yuan) in China, up 84 percent from the year-earlier period.
The German automaker posted solid profits as vehicle sales in China rose 20 percent in the first three months of 2011. Audi remains China's top-selling luxury brand, and Skoda's sales in China have risen strongly.
In a statement, the company said it "expects the positive trend in the strategically important markets of China and India to continue ... "
To maintain growth, Volkswagen's Chinese joint ventures plan to spend 10.6 billion euros through 2015 on two new assembly plants and new models.
