Volkswagen (NASDAQOTH: VLKAY ) surprised analysts with stronger than expected second-quarter earnings, as booming sales of luxury cars and some new cost-saving technology helped offset sluggish sales in some parts of the world.
VW's pre-tax profit of about $4.6 billion dollars was up almost 5% from what the German giant earned in the second quarter of 2012 -- and VW's profits last year led the industry's. In this video, Fool.com contributor John Rosevear takes a closer look at the two key factors contributing to VW's strong quarter -- and at the company's prospects for another big full-year profit.
Volkswagen is second only to General Motors in China's booming market -- but VW isn't willing to settle for second place. A recent Motley Fool report, "2 Automakers to Buy for a Surging Chinese Market", says that VW is one of the two global giants poised to reap huge gains as China's auto boom continues. You can read this report right now for free -- just click here for instant access.