Volkswagen posts record sales

Germany's Volkswagen group sold a record four million vehicles in the first half of 2011 and hopes to reach the eight million mark for the year, the group's CEO announced Monday in a statement. First-half sales were boosted by growing demand across the globe, Martin Winterkorn said during a presentation of the latest incarnation of the brand's iconic Beetle. The CEO of Europe's largest carmaking conglomerate said Volkswagen sales alone soared 11.8 percent over the past year to a record 2.5 million for the first half of 2011. Winterkorn said that annual sales of the group's nine brands -- which also include Audi, SEAT and Skoda -- may reach the eight-million threshold for the first time. The Wolfsburg-based firm raked in record profits of 7.23 billion euros ($10.13 billion) in 2010. Volkswagen aims to reclaim its spot as the world's top car manufacturer and Winterkorn said the group could achieve its goal of selling more than 10 million vehicles annually earlier than the 2018 target.