/ News, Volkswagen / VW to Report Record Profit, Still Cuts Bonuses

VW to Report Record Profit, Still Cuts Bonuses

Linked In Share
VW to Report Record Profit, Still Cuts Bonuses

Although VW is to post another record profit, the automaker will still reduce bonuses for management, as situation in Europe continues to be tense.

If PSA Peugeot Citroen and Ford reported the worst sales results in Europe last month, VW’s sales increased and the company gained market share in the region, despite the recession. As auto demand continues to decrease in western Europe, VW becomes more vulnerable in front of the crisis in its home market.

Last month VW’s sales in Europe dropped 12.3%, accounting for a third of the company’s profit, excluding Germany. The automaker added shifts at its Wolfsburg plant due to increased demand for its new Golf and the Tiguan compact SUV, but reduced production at the Emden plant, where it manufactures the Passat estate, Passat saloon and the CC coupe.

“Orders have weakened quite considerably,” said Ernst-Robert Nouvertne who runs two VW dealerships near the German city of Cologne. “We will have to fight hard for every single customer.”

After reporting a 14.9% increase in global deliveries in January, VW is expected to post another strong performance this month, helped by the US and China markets. Still the automaker keeps its decision to impose tougher bonus rules, to reduce CEO Martin Winterkorn’s payout, which might reach 20 million euro. VW decided that bonuses will only be offered to top executives if the company’s profit will reach at least 5 billion euro.

“Winterkorn and his peers are becoming victims of their own success,” said Hanover-based NordLB analyst Frank Schwope.

by Ana Cezara Savin (my Google+) - Thursday, February 21st, 2013 - filed under News, Volkswagen. Image credit: .
Linked In Share
Related Articles
cuts bonuses record profit vw


Discuss: VW to Report Record Profit, Still Cuts Bonuses

Leave a Reply















Inautonews Facebook PageInautonews RSS FeedInautonews TwitterInautonews Youtube Channel

Sign up to receive our email newsletter on your email. It's safe. No spam!

PREVIEW – Hungarian GP 2014
PREVIEW – Hungarian GP 2014“The circuit is a decent measure of a car’s mechanical grip, due to the need of having good traction out of many slow ...
Indian showroom owner prepares a manlier Dacia Duster
Indian showroom owner prepares a manlier Dacia DusterA hotter version of the Dacia Duster has seen daylight first in an Indian car showroom and it managed to attract quite a lot of ...
[VIDEO] Subaru WRX STI gets Gymkhana style promo
[VIDEO] Subaru WRX STI gets Gymkhana style promoA new promotional video for the Subaru WRX STI is showing the performance sedan from a Gymkhana “point of view”. All petrol ...
2015 Hyundai Tucson introduced
2015 Hyundai Tucson introducedHyundai dealerships across the United States are getting ready to receive the 2015 Tucson, as the model in question has been ...
First Ferrari LaFerrari spotted in China
First Ferrari LaFerrari spotted in ChinaThe first unit of the impressive Ferrari LaFerrari in China has been recently spotted on the road where it “made” a new ...
[Video] Hot Wheels brings Darth Vader’s car to life
[Video] Hot Wheels brings Darth Vader’s car to lifeThere’s no ending to the marketing opportunities provided by possibly the universe’s greatest villain and most evil empire. ...
[VIDEO] Dodge Challenger SRT Hellcat – driver’s POV on the road
[VIDEO] Dodge Challenger SRT Hellcat – driver’s POV on the roadA new video with the recently unveiled Dodge Challenger SRT Hellcat is showing the muscle car from a driver’s point of view ...
Tesla Model S gets crashed in China
Tesla Model S gets crashed in ChinaAnother Tesla Model S has been involved in a crash in China and judging by the images posted below, the servicing bill will be ...
Audi confirms SQ7 for 2016
Audi confirms SQ7 for 2016The German based automaker Audi has recently confirmed plans to introduce an SQ7 version of the updated Q7 over the next couple ...
GM recalls – business opportunities for many US dealerships
GM recalls – business opportunities for many US dealershipsAlthough a deadly ignition switch scandal, followed by a hurricane of recalls that led to 29 million cars in need of servicing, ...
Ford F-35 Lightning II Edition Mustang GT introduced
Ford F-35 Lightning II Edition Mustang GT introducedThe North American based automaker Ford has officially pulled the wraps off its newest creation, the new F-35 Lightning II ...
Mercedes-AMG details new 4.0L V8
Mercedes-AMG details new 4.0L V8Mercedes-AMG has released the first official details on the brand new 4.0 liter V8 engine which will be found under the hood of ...
Bentley tones down sales increases for the year
Bentley tones down sales increases for the yearAfter previously aggressively forecasting record sales for 2014, Bentley’s CEO Wolfgang Duerheimer said the company expects the ...
2015 Honda NSX test mule catches fire on the Ring
2015 Honda NSX test mule catches fire on the RingA test mule of the brand new Honda NSX has been completely destroyed on the famous German track, the Nurburgring, after catching ...
Ferrari F430 Spider gets crashed by kid in Geneva
Ferrari F430 Spider gets crashed by kid in GenevaThe young driver of this Ferrari F430 Spider has managed to crash his ride after pushing the gas pedal too hard and losing ...
Read more automotive news


2013 Frankfurt Motor Show Live Images

dacia duster tuning india 1
2015-hyundai-tucson 1
Comic-Con-Toys
tesla model s crash china 2014 1
Ford F-35 Lightning II Edition Mustang GT 1
mercedes-amg 4.0l v8 twin turbo 1
Honda NSX 01-2
ferrari f430 spider crash geneva kid 1
2015 mercedes-benz c-class cabrio interior 2
nissan note nismo 1
2015 ford falcon xr6 xr8 1
Mercedes-Benz-AMG-GT-1

More automotive from inautonews
“The circuit is a decent measure of a car’s mechanical grip, due to the need of having good traction out of many slow corners. In terms of aerodynamics, the problem for the teams is the same as that faced in Monaco: namely to maximize performance at the high-down force of the spectrum” Pat ...
read more
Inautonews Editors Section
PREVIEW – Hungarian GP 2014
PREVIEW – Hungarian GP 2014“The circuit is a decent measure of a car’s mechanical grip, due to the need of having good traction out of many slow corners. In terms of ...
Review – German GP 2014
Review – German GP 2014Taking Rosberg’s easy win out of the picture, the German GP was truly spectacular, full of wheel-to-wheel racing, some of the overtakes backfiring ...
Britain and Germany go to war
Britain and Germany go to war1995, the German Grand Prix at the old Hockenheimring. Damon Hill leads at the end of lap one ahead of Schumacher but loses the car at the first ...

Editors Section
Inautonews Editors Section
2012 Safest Cars list 2011 Safest Cars [Video] 2011 IIHS Safest Cars [Video] 2011 EuroNCAP Safest Cars 2010 Safest Cars [Video]

Latest in Safety General Motors – 6 new recalls announcedGeneral Motors is continuing to announce new recalls with six separate campaigns which are covering ... Recall roundup: Mercedes-Benz SLK and SL for Takata airbagsThe German based automaker Mercedes-Benz has recently issued a recall for the SLK and for the SL ...
Safety Section