Volkswagen will exceed 2008 profit goals

As Porsche looks for more investors to increase their shares, buy Volkswagen, or whatever they want to do, Volkswagen AG is saying that it will top its pretax profit target of 5.1 billion euros ($6.9 billion). The statement which sent Volkswagen shares sky rocketing, came a year earlier because of cutting costs which are pushing results.

According to Reuters, Volkswagen said it will “significantly” exceed in 2007 the previous year’s earnings performance.

Volkswagen reported a profit of 1.74 billion euros ($2.37 billion) for the second quarter of 2007.

Source: Automotive News (Subscription Required)

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