VW sees record sales in 2012, profits up 2%

Volkswagen posted its highest-ever operating profit last year as gains from record vehicle sales outweighed costs of an engineering revamp.

Group operating profit rose 2.1 percent to 11.5 billion euros ($15.21 billion), the Wolfsburg-based car maker said on Friday, exactly in line with a forecast by 13 analysts in a Reuters survey.

VW increased global deliveries 11.2 percent last year to a record 9.1 million vehicles, mainly powered by demand from the United States, China and Eastern Europe.

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