Volkswagen Group (VW) has announced in its key financial data for 2012 that the firm was able to meet all of its targets for the 12-month period.

The firm's latest financial report shows an annual sales growth from €159.3 billion (£139.7 billion) in 2011 to €192.7 billion in 2012. Furthermore, the group's operating profits increased from €11.3 billion to €11.5 billion.

"Deliveries to customers and sales revenue are to increase year-on-year. If we can meet these targets, then 2013 will be another good year for the Volkswagen group," commented Martin Winterkorn, chairman of the board of management at VW.

He added that given the current trying financial climate, the results posted in the last year have demonstrated the company's ongoing financial strength and earning power.

The news follows the recent publication of figures from sports car icon Ferrari, with the company stating it saw its best ever profits last year, with a 12.1 per cent increase to €350 million.

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