German auto major Volkswagen Group today said it will launch more than 40 models this year and plans to invest 62.4 billion euro by 2016 to ramp up production globally. The group,that posted profit after tax of 15.8 billion euro in 2011 compared to 7.2 billion last year,said its sales revenue in 2011 was at 159.3 billion euro,up 25.6 per cent from last year. "Our strategy 2018 is working. We remain on track on our way to the top of the automotive industry," Volkswagen Group Chairman of the Management Board Martin Winterkorn said at the Annual Media Conference here. Commenting on the global plan for this year,he said: "This year,we will be launching more than 40 additional new models,successors and product enhancements. These include important new vehicles such as the Audi A3 and the Golf. Volkswagen Group's 2012 sales revenue will exceed the prior- year figure." In India,where the group currently offers 21 models,it sold 1,11,623 cars in 2011,a growth of 109.3 per cent over 2010. On plans to ramp up production globally,Winterkorn said: "For the period up to 2016,we will be investing 62.4 billion euro in all relevant areas that are key to the future." In China the group is investing 14 billion euro for opening new production plants by 2016. It is also making investments in Russia,Mexico,Malasiya,Indonesia and Germany. Volkswagen's group's global share of the passenger car market rose to 12.3 per cent in 2011 from 11.3 per cent in 2010. In volume terms,the group delivered 8.3 million cars,over one million more vehicles than the previous year. During 2011,the group sold 5 million vehicles from the Volkswagen brand portfolio,Audi brand sold around 1.3 million units. The Skoda family had sales of 880,000 vehicles,while 7,000 Bentley luxury cars were taken by customers globally during the year. Lamborghini on the other hand delivered 1,600 vehicles in 2011. Commenting on regional breakup Winterkorn said:" In Europe,we saw growth of 11.3 per cent. By contrast,the overall market rose by only 3.6 per cent." He further said the group continued to extend its leading position in the Asia Pacific region. "China,our second home market,is and remains a particularly strong driver for the group with vehicle deliveries of around 2.3 million. In US,the group registered growth of 23 per cent,Russia grew by 74 per cent and India rose 109 per cent," Winterkorn said. Commenting on the aim to make Volkswagen the most eco friendly automaker in the world,Winterkorn said: "We are making 2013 the year of e-mobility with the e-up! followed by many more hybrid and electric vehicles from our group brands." He further said: "We are investing 600 million euro in developing renewable energy sources and making production plants 25 per cent more environmentally friendly by 2018." The Volkswagen Group's total assets amounted to 253.6 billion euro at the end of fiscal 2011,an year-on-year increase of 27.2 per cent. "This was primarily the result of the positive business performance,the acquisition of Porche Holding Salzburg and the consolidation of MAN," Hans Dieter Potsch Vice-President Finance and Controlling Volkswagen Group said. From economy to luxury,the group boasts of a portfolio of ten strong brands and 240 different vehicle models under labels like Volkswagen,Audi,Skoda,Bentley,Bugatti,Lamborghini,Scania,MAN SE and Volkswagen commercial vehicles. The Board of Management and the Supervisory Board are proposing to the Annual General Meeting to pay a dividend of 3 euro per ordinary share and 3.06 euro per preferred share.
