High demand raises VW's expectations

News reports out of Berlin indicate Volkswagen AG has raised its sales and operating profit expectations for 2010 after higher than anticipated sales volumes through the first five months of the year.

The Canadian Press is reporting the company now expects the 2009 figures “will be significantly exceeded.” Though there was no specific new expectation given.

Healthy demand and favourable currency exchange rates in markets like China and North America are apparently helping push the 2010 outlook higher.

Canadian sales figures from May show that VW enjoyed almost a 10 per cent jump in year-over-year sales with 11,103 units moved (figures include Audi sales).

Year-to-date sales in Canada up to May sat at 24,595, good enough for a 30 per cent spike over YTD sales for the same time period in 2009.

- with files from The Canadian Press