VW profit oper profit rises to 6.5 bln euros as Audi Gains Offset European Slump image

Volkswagen Ag., Europe’s largest carmaker said on Thursday that first-half operating profit rose to 6.5 billion euros ($7.88 billion) – up 7 percent from a year earlier. Sales increased 23 percent to 95.4 billion euros.

The consolidated operating profit for H1 does not include the €1.8 billion (€1.2 billion) share of the operating profit of the Chinese joint ventures.

Benefiting from its broad presence in China, the United States and Latin America, VW group revenue surged 22.6 percent to 95.38 billion euros on growing sales of models such as the VW Tiguan and Audi Q3 compact SUVs and Audi’s A6 sedan.

The group, which manufacturers 10 makes of vehicles, confirmed its annual outlook for the 2012 on the basis of the figures from the first six months of the year, which saw a 23-percent rise in turnover.