The share price of Volkswagen has risen today (January 10th) after the latest sales figures were released by the company.
Volkswagen confirmed it saw record sales for its luxury brands Porsche, Audi and Bentley, with the company's new model launches boosting its position.
Deliveries of Porsche cars were up by 15 per cent, while sales of Audis were 8.3 per cent higher and Bentley sales grew by 19 per cent in 2013 when compared to 2012 data.
"We set an important milestone for Audi in the past year: We achieved our intermediate strategic goal of 1.5 million deliveries two years earlier than planned, and in fact comfortably exceeded it," Rupert Stadler, chairman of Audi, said in a statement.
Shares in Volkswagen were up on the back of the news, rising by 1.63 per cent by 11:21 GMT.
The luxury car market appears to be in good shape, as it is only a few days since Rolls-Royce confirmed it sold a record number of its cars during 2013.
Find up to date information on the FTSE 100 and spread betting strategies at City Index
GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.