Volkswagen Group reported first-quarter profit that beat analysts' estimates on higher demand at its Audi luxury brand. Operating profit rose 10 percent to 3.21 billion euros ($4.26 billion) from 2.91 billion euros a year earlier, the automaker said today. The figure beat the 2.66 billion-euro average estimate of nine analysts surveyed by Bloomberg.
Sales gained 26 percent to 47.3 billion euros.
Volkswagen is thriving despite Europe's debt crisis. The German automaker is stealing market share from rivals with a model lineup that runs from the Up minicars to Lamborghini sports cars and 50-ton trucks.
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