VW Profit Quadruples

Washington DC April 28, 2006; The AIADA newsletter reported that Volkswagen saw its net profit more than quadruple in the first quarter of this year, and the German automaker said it was gaining strength in auto markets worldwide, reports AP.

Net profit jumped to $408 million, with revenue up 21 percent to $31.67 billion. "The most important automotive markets began 2006 with a positive underlying trend, although the continued risks for automotive demand posed by the economic environment are not insignificant," Volkswagen said in a statement.

The automaker predicted stable automotive demand in the U.S.