Volkswagen profit jumps 40.9% as car sales grow

Volkswagen, Europe’s biggest carmaker, said Friday that its net profit zoomed ahead by more than 40 percent last year on higher vehicle sales.

VW said in a statement its net profit soared by 40.9 percent to a record 21.7 billion euros ($28.6 billion) in 2012 as revenues rose by 20.9 percent to 192.7 billion euros and deliveries to customers were up 12.2 percent at 9.276 million vehicles.