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German Carmaker Volkswagen says its net income for 2009 plummeted to 80 percent to euro960 million ($1.3 billion) from nearly euro5 billion in 2008. The drop comes as revenue fell 8 percent, to euro105.2 billion from nearly euro114 billion a year earlier, even though deliveries were up 1.3 percent year-on-year at 6.34 million vehicles from 2008.
Volkswagen said Friday the group's revenue and operating profit for 2010 are expected to exceed the prior-year figures despite a shift in volumes between the markets.
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