Volkswagen earnings up 40 percent in 2012

German automaker Volkswagen AG says its net profit increased 41 percent for 2012 to €21.7 billion ($28.7 billion) on a 21 percent rise in revenues.

German automaker Volkswagen AG says its net profit increased 41 percent for 2012 to €21.7 billion ($28.7 billion) on a 21 percent rise in revenues.

German automaker Volkswagen AG says its 2012 group sales hit a record high as growing demand around the world more than offset sluggish sales in Europe.