Volkswagen sales, profits slump

FRANKFURT: Europe's biggest carmaker Volkswagen hit the skids in the first three months of 2009, results showed on Wednesday, with sales sliding and profits slumping.

The German firm said sales fell 11 per cent year-on-year in the first quarter to 23.9 billion euros (30.1 billion dollars) and that net profit was down 74 per cent at 243 million euros.