13 Mar 2012

Volkswagen headed for another record year

2:01 pm on 13 March 2012

The German car giant Volkswagen says 2012 could be another record year, with vehicle sales possibly surpassing last year's total of 8.3 million.

Volkswagen is already the world's second largest car producer, behind General Motors, and it aims to overtake them.

It says some parts of Europe are challenging, but its brands are selling well in the United States, China and South America.

Audi remains its most single profitable brand, contributing a third of last year's profit of €15 million.

The record year triggered a huge payout for VW chief Martin Winterkorn, who made €17.5 million in salary and bonuses - nearly twice what he took home in 2010.