Volkswagen has announced a significant rise in sales revenues for the first quarter of 2012, highlighting gains of 26.3 per cent and capping a positive first quarter of the year for the firm.

Overall, the company reported sales totalling €47.3 billion (£37.5 billion), resulting in operating profits for the three months of €3.2 billion – up by 10.2 per cent from the same period last year.

"With the first quarter, we have had a clearly good start to the year," said Dr Martin Winterkorn, chairman of Volkswagen's board of management. "Our results once again show that we are on the right track."

The company also made positive gains in its overall market share during Q1, improving its position in the global passenger car segment from 11.9 to 12.2 per cent.

Earlier this month, the company announced the release of its new emissions guide, highlighting the CO2 output of all the company's fleet offerings with emissions of less than 160 g/km.

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Posted by Brendan Saunders