Volkswagen reported a record annual profit today, as its net income more than doubled last year. The company sold 8 million vehicles for the first time in its 75-year history, the New York Times reports. While its full report won't be out until March 12, initial numbers released today show Volkswagen's pretax profit rising to a record $25.3 billion, with unit sales up almost 15% from 2010. And 2012 is looking good, too: January sales were up 1.3% from a year earlier.
The results stand in sharp contrast to those of French automaker Peugeot and GM unit Adam Opel, both of which are suffering so severely from Europe's slumping market that they're considering a partnership to cut costs. (Read more Volkswagen stories.)