The Volkswagen Group has released its financial data for 2012, revealing an increase in profit from £9.78 billion to £9.95 billion.
Total sales revenue for 2012 totalled £166.8 billion, 21 per cent up on 2011's £137.9 billion.
Professor Dr Martin Winterkorn, chairman of the board of management of the Volkswagen Group, said: “The economic environment for our business became noticeably more difficult as the year progressed. Nevertheless, we succeeded in meeting the targets we set ourselves for 2012."
The Group delivered a total of 9.3 million vehicles during last year, representing a 12.2 per cent increase on the previous year's nine million.
It is not only profit and vehicle deliveries that have climbed. The number of employees rose from 501,956, in 2011, to 549,763 in 2012.
Winterkorn was quietly confident about 2013: “We, too, are not completely immune to the intense competition and the far-reaching crisis in key European markets."
"Nevertheless, we see good opportunities for the Volkswagen Group to once again outperform competitors this year thanks to our sound financial strength and earning power.”
The Volkswagen Group expects its 2013 sales revenue to exceed the 2012 figures, thanks to a wider and more attractive model range.
Given the ongoing economic uncertainty and increasing competition, however, it is aiming for its 2013 profit to match 2012's.