ForMotion Program and New Model Initiative Generate...

ForMotion Program and New Model Initiative Generate Significant Increase in Volkswagen?s Earnings

ForMotion Program and New Model Initiative Generate Significant Increase in Volkswagen?s EarningsPischetsrieder: Further efforts necessary to safeguard the long-term future of the GroupWolfsburg, March 7, 2006 - The Volkswagen Group significantly increased its earnings last year thanks to the ForMotion program and a comprehensive new model initiative. Profit before tax rose by 58.2 percent to ?1.7 billion in 2005. Despite a continued difficult market environment, the Group was able to meet the forecasts, said Dr. Bernd Pischetsrieder, Chairman of the Board of Management of the Volkswagen Group, on Tuesday at the presentation of Volkswagen?s financial statements in Wolfsburg. ?Overall, however, the level of earnings we achieved remains unsatisfactory?, he emphasized. ?That is why we will continue our performance enhancement program in the form of ?ForMotion plus?, and in particular systematically restructure the core Volkswagen brand. There is no alternative for our Group. Considerable efforts are still needed to safeguard the long-term future of Volkswagen AG?, Pischetsrieder stressed.

Date: March / 7 / 2006
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