Vehicle manufacturer Volkswagen (VW) has announced a positive outlook for the remainder of 2013 as part of its latest figures.

The company reported a stabilisation of revenues at €46.6 billion (£39.2 billion) for the first quarter and saw its overall market share rise from 12.2 to 12.6 per cent in the global passenger car market.

In addition, the firm witnessed a 4.8 per cent rise in deliveries to customers to 2.3 million vehicles in total, with especially strong growth in China.

Dr Martin Winterkorn, chairman of the board of management for VW, commented: "As expected, business in the first quarter was dominated by the difficult economic environment … But we remain confident overall that we can pick up speed over the rest of the year."

Earlier this month, Korean vehicle manufacturer Hyundai also published positive data for the start of the year, highlighting an increase in the company's market share from 3.4 to 3.5 per cent, as well as a stabilisation in volumes.

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Posted by Brendan Saunders, Account Manager, The Fuelcard People.