Volkswagen to deliver a record 7 million units in 2010

2011 Volkswagen Jetta

After a sales gain of 16% last month, Volkswagen AG says that it will exceed 7 million deliveries for the first time this year.  “Volkswagen is benefiting disproportionally from the upturn in most major automobile markets,” VW sales chief Christian Klingler said in the statement. “We will be well above last year’s level and anticipate annual deliveries of more than 7 million vehicles for the first time.”

VW sales are bolstered greatly by the VW Golf compact car, and the Audi A7 coupe.  Booming Chinese market sales also contribute considerably to the company’s success.

These numbers put VW steadily on the track it needs to be on to fulfill its goal of overtaking Toyota as the world’s largest automaker.  To that effect, the company is investing about $68.3 billion into its auto manufacturing business over the next five years.

In the amidst of all this growth strategizing, the company has had some friction with labor leaders who are calling on VW to raise wages next year by 6% for 100,000 German workers.  While talks do not start until January 19, VW says that it will target pay increases closer to 2.7%;a figure agreed upon by engineering employees last February.

– By: Stephen Calogera

Source: Bloomberg