Subscribe to the BlogNone of the car makers have been spared last year. Now, it is the turn of VW. Volkswagen (VW), Europe's biggest car maker, has reported an 80% fall in profits for 2009 partly due to a fall in profit margins. The company made a net profit of 960m euros ($1.31bn; £864m) last year, but said it expected operating profit and sales to recover this year. Sales slipped by 7.6% in 2009, but the company retains its ambition to become the world's biggest car maker. espite the sales drop, VW benefitted from car scrappage schemes.
It is also doing well in economically-strong China, which is now its biggest market.