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Volkswagen's German employees get bonus of 7,200 per staff

By SYF77 on 01 Mar 2013

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Volkswagen's sales hit record high in 2012 despite slowing sales in Western Europe. The German carmaker sold 9.07 million cars last year, up 11% from 2011. Group operating profit rose 2.1% to 11.5 billion.

As a result of the sterling performance, Volkswagen is sharing a portion of the 2012 profits with its German employees. As a result, each of the 100,000 VW staff will receive 7,200 (S$11,696) in bonus.

"Profit sharing is hard earned and deserved. It is the equitable participation of employees in the success," said VW board member Horst Neumann. "The Volkswagen team has done an excellent job in 2012, and this team effort pays off for everyone." However, he cautioned that the consequences of the financial crisis in southern Europe have not been overcome and the road is bumpy.

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With the recent launch of the Mk7 Golf, Volkswagen's best-selling model and the world's second best-selling car, there should be sufficient demand to keep Volkswagen's balance sheet looking good for 2013.

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Written by SYF77
I have been a car fanatic since 1989, when my father was changing our family car then to a Toyota Corolla 1.6 GL fitted with a Twin Cam 16 valve engine that was carburetor-fed, a big deal back in those days. The automobile technology and industry fascinates me and I hope to broadcast these interesting developments to everyone out there through this blog.

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