Volkswagen AG (), known internationally as the Volkswagen Group, is a German
multinational automotive manufacturer headquartered in
Wolfsburg
Wolfsburg (; Eastphalian: ''Wulfsborg'') is the fifth largest city in the German state of Lower Saxony, located on the river Aller. It lies about east of Hanover and west of Berlin.
Wolfsburg is famous as the location of Volkswagen AG's he ...
,
Lower Saxony
Lower Saxony (german: Niedersachsen ; nds, Neddersassen; stq, Läichsaksen) is a German state (') in northwestern Germany. It is the second-largest state by land area, with , and fourth-largest in population (8 million in 2021) among the 16 ...
, Germany. The company designs, manufactures and distributes passenger and commercial vehicles, motorcycles, engines and turbomachinery, as well as offering related services, including financing, leasing and fleet management. In 2016, it was the world's largest automaker by sales, and keeping this title in 2017, 2018 and 2019, selling 10.9 million vehicles. It has maintained the largest market share in Europe for over two decades.
It ranked seventh in the 2020
''Fortune'' Global 500 list of the world's largest companies.
The Volkswagen Group sells passenger cars under the
Audi
Audi AG () is a German automotive manufacturer of luxury vehicles headquartered in Ingolstadt, Bavaria, Germany. As a subsidiary of its parent company, the Volkswagen Group, Audi produces vehicles in nine production facilities worldwide.
Th ...
,
Bentley,
Cupra
Cupra Racing, formerly known as SEAT Sport, is the high-performance motorsport subsidiary of the Spanish automobile manufacturer SEAT, founded in 1985, succeeding the "SEAT Special Vehicles department" which had been formed in 1971 with the miss ...
,
Lamborghini,
Porsche,
SEAT,
Škoda
Škoda means ''pity'' in the Czech and Slovak languages. It may also refer to:
Czech brands and enterprises
* Škoda Auto, automobile and previously bicycle manufacturer in Mladá Boleslav
** Škoda Motorsport, the division of Škoda Auto respons ...
and
Volkswagen
Volkswagen (),English: , . abbreviated as VW (), is a German motor vehicle manufacturer headquartered in Wolfsburg, Lower Saxony, Germany. Founded in 1937 by the German Labour Front under the Nazi Party and revived into a global brand post-W ...
brands; motorcycles under the
Ducati name; light commercial vehicles under the
Volkswagen Commercial Vehicles
Volkswagen Commercial Vehicles (VWCV; german: Volkswagen Nutzfahrzeuge , abbreviated ''VWN'' ) is a German marque of light commercial vehicles, owned by Volkswagen Group. It is headquartered in Hannover, Lower Saxony, Germany. Originally p ...
brand; and heavy commercial vehicles via the marques of listed subsidiary
Traton
Traton SE, known as the Traton Group (formerly Volkswagen Truck & Bus AG), is a subsidiary of the Volkswagen Group and one of the world's largest commercial vehicle manufacturers, with its MAN, Scania, Navistar, and Volkswagen Caminhões e Ôn ...
(RIO, Navistar,
MAN
A man is an adult male human. Prior to adulthood, a male human is referred to as a boy (a male child or adolescent). Like most other male mammals, a man's genome usually inherits an X chromosome from the mother and a Y chromo ...
,
Scania
Scania, also known by its native name of Skåne (, ), is the southernmost of the historical provinces (''landskap'') of Sweden. Located in the south tip of the geographical region of Götaland, the province is roughly conterminous with Skåne ...
and
Volkswagen Caminhões e Ônibus). It is divided into two primary
divisions—the Automotive Division and the Financial Services Division—and as of 2008, it had about 342 subsidiary companies. Volkswagen also has two major joint ventures in China,
FAW-Volkswagen
FAW-Volkswagen Automobile Co., Ltd. is a joint venture between FAW Group and Volkswagen Group which manufactures Audi and Volkswagen marque passenger cars for sale in China. It was founded on 6 February 1991.
FAW-VW is headquartered in the so ...
and
SAIC Volkswagen
SAIC Volkswagen Automotive Co., Ltd., formerly known as Shanghai Volkswagen Automotive Co., Ltd. is an automobile manufacturing company headquartered in Anting, Shanghai, China and a joint venture between Volkswagen Group and SAIC Motor. It was ...
. The company has operations in roughly 150 countries, and it has 100 production facilities across 27 countries.
Volkswagen was founded in
Berlin
Berlin ( , ) is the capital and List of cities in Germany by population, largest city of Germany by both area and population. Its 3.7 million inhabitants make it the European Union's List of cities in the European Union by population within ci ...
in 1937 and incorporated in
Wolfsburg
Wolfsburg (; Eastphalian: ''Wulfsborg'') is the fifth largest city in the German state of Lower Saxony, located on the river Aller. It lies about east of Hanover and west of Berlin.
Wolfsburg is famous as the location of Volkswagen AG's he ...
to manufacture the car that would become known as the
Beetle
Beetles are insects that form the order Coleoptera (), in the superorder Endopterygota. Their front pair of wings are hardened into wing-cases, elytra, distinguishing them from most other insects. The Coleoptera, with about 400,000 describ ...
. The company's production grew rapidly in the 1950s and 1960s. In 1965, it acquired
Auto Union
Auto Union AG, was an amalgamation of four German automobile manufacturers, founded in 1932 and established in 1936 in Chemnitz, Saxony. It is the immediate predecessor of Audi as it is known today.
As well as acting as an umbrella firm fo ...
, which subsequently produced the first postwar Audi models. Volkswagen launched a new generation of front-wheel drive vehicles in the 1970s, including the
Passat,
Polo and
Golf
Golf is a club-and-ball sport in which players use various clubs to hit balls into a series of holes on a course in as few strokes as possible.
Golf, unlike most ball games, cannot and does not use a standardized playing area, and coping ...
; the last became its bestseller. Volkswagen acquired a controlling stake in SEAT in 1986, making it the first non-German marque of the company, and acquired control of Škoda in 1994, of Bentley, Lamborghini and Bugatti in 1998, Scania in 2008 and of Ducati, MAN and Porsche in 2012. The company's operations in China have grown rapidly in the past decade, with the country becoming its largest market.
Volkswagen
Aktiengesellschaft
(; abbreviated AG, ) is a German word for a corporation limited by share ownership (i.e. one which is owned by its shareholders) whose shares may be traded on a stock market. The term is used in Germany, Austria, Switzerland (where it is equi ...
is a public company and has a primary listing on the
Frankfurt Stock Exchange
The Frankfurt Stock Exchange (german: link=no, Börse Frankfurt, former German name – FWB) is the world's 12th largest stock exchange by market capitalization. It has operations from 8:00 am to 10:00 pm ( German time).
Organisation
Loca ...
, where it is a constituent of the
Euro Stoxx 50 stock market index, and a secondary listings on the
Luxembourg Stock Exchange
The Luxembourg Stock Exchange, LuxSE (french: Bourse de Luxembourg) is based in Luxembourg City at 35A boulevard Joseph II.
The chairman of the board is Alain Kinsch and the chief executive officer is Julie Becker.
The exchange has pre-opening ...
and
SIX Swiss Exchange. It has been traded in the United States via
American depositary receipt
An American depositary receipt (ADR, and sometimes spelled ''depository'') is a negotiable security that represents securities of a foreign company and allows that company's shares to trade in the U.S. financial markets.
Shares of many non-U.S ...
s since 1988, currently on the
OTC Marketplace. Volkswagen delisted from the
London Stock Exchange
London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St P ...
in 2013.
The
government of Lower Saxony holds 12.7% of the company's shares, granting it, by law, 20% of the voting rights.
History
1937 to 1945
Volkswagen (meaning 'People's car' in German) was founded in
Berlin
Berlin ( , ) is the capital and List of cities in Germany by population, largest city of Germany by both area and population. Its 3.7 million inhabitants make it the European Union's List of cities in the European Union by population within ci ...
as the ''Gesellschaft zur Vorbereitung des Deutschen Volkswagens mbH'' ('Limited Liability Company for the preparation of the German People's Car', abbreviated to ''Gezuvor'') by the
National Socialist
Nazism ( ; german: Nazismus), the common name in English for National Socialism (german: Nationalsozialismus, ), is the far-right totalitarian political ideology and practices associated with Adolf Hitler and the Nazi Party (NSDAP) in Na ...
''
Deutsche Arbeitsfront
The German Labour Front (german: Deutsche Arbeitsfront, ; DAF) was the labour organisation under the Nazi Party which replaced the various independent trade unions in Germany during Adolf Hitler's rise to power.
History
As early as March 1933, t ...
'' (German Labour Front) and incorporated on 28 May 1937.
The purpose of the company was to manufacture the Volkswagen car, originally referred to as the Porsche Type 60, then the Volkswagen Type 1, and commonly called the
Volkswagen Beetle
The Volkswagen Beetle—officially the Volkswagen Type 1, informally in German (meaning "beetle"), in parts of the English-speaking world the Bug, and known by many other nicknames in other languages—is a two-door, rear-engine economy car, ...
.
This vehicle was designed by
Ferdinand Porsche
Ferdinand Porsche (3 September 1875 – 30 January 1951) was an Austrian-German automotive engineer and founder of the Porsche AG. He is best known for creating the first gasoline–electric hybrid vehicle (Lohner–Porsche), the Volksw ...
's consulting firm, and the company was backed by the support of
Adolf Hitler
Adolf Hitler (; 20 April 188930 April 1945) was an Austrian-born German politician who was dictator of Nazi Germany, Germany from 1933 until Death of Adolf Hitler, his death in 1945. Adolf Hitler's rise to power, He rose to power as the le ...
.
On 16 September 1938, Gezuvor was renamed ''Volkswagenwerk
GmbH'' ('Volkswagen Factory GmbH').
Shortly after the factory near
Fallersleben
Fallersleben is a part (''Ortsteil'') of the City of Wolfsburg, Lower Saxony, Germany, with a population of 11,269 (as of 2010). The village of Fallersleben was first mentioned in 942 under the name of ''Valareslebo''. Fallersleben became a city ...
was completed,
World War II
World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the vast majority of the world's countries—including all of the great powers—forming two opposing ...
started, and the plant primarily manufactured the military
Kübelwagen (Porsche Type 82) and the related amphibious
Schwimmwagen
The Volkswagen ''Schwimmwagen'' (literally "swimming car") was a four-wheel drive amphibious vehicle, used extensively by German ground forces during the Second World War. The ''Schwimmwagen'' is the most-produced amphibious car in history.
Pro ...
(Type 166), both of which were derived from the Volkswagen. Only a small number of Type 60 Volkswagens were made during this time. The Fallersleben plant also manufactured the
V-1 flying bomb
The V-1 flying bomb (german: Vergeltungswaffe 1 "Vengeance Weapon 1") was an early cruise missile. Its official Ministry of Aviation (Nazi Germany), Reich Aviation Ministry () designation was Fi 103. It was also known to the Allies as the buz ...
, making the plant a major bombing target for the Allied forces.
1945 to 1970
After the war in Europe, in June 1945,
Major Ivan Hirst[ of the British Army Royal Electrical and Mechanical Engineers (REME) took control of the bomb-shattered factory for use in repairing British Army vehicles, pending the expected disposal of the plant tooling and equipment as ]war reparations
War reparations are compensation payments made after a war by one side to the other. They are intended to cover damage or injury inflicted during a war.
History
Making one party pay a war indemnity is a common practice with a long history.
...
. However, no British car manufacturer was interested. A British report on the car said that "the vehicle does not meet the fundamental technical requirement of a motor-car … it is quite unattractive to the average buyer … To build the car commercially would be a completely uneconomic enterprise." In 1948, the Ford Motor Company
Ford Motor Company (commonly known as Ford) is an American multinational automobile manufacturer headquartered in Dearborn, Michigan, United States. It was founded by Henry Ford and incorporated on June 16, 1903. The company sells automobi ...
of USA was offered Volkswagen, but Ernest Breech, a Ford executive vice president said he did not think either the plant or the car was "worth a damn." Breech later said that he would have considered merging Ford of Germany
Ford-Werke GmbH is a German car manufacturer headquartered in Niehl, Cologne, North Rhine-Westphalia. It is a subsidiary of Ford Motor Company, which operates two large manufacturing facilities in Germany, a plant in Cologne and a plant in Saar ...
and Volkswagen, but after the war, ownership of the company was in such dispute that nobody could possibly hope to be able to take it over. As part of the Industrial plans for Germany
The industrial plans for Germany were designs the Allies considered imposing on Germany in the Aftermath of World War II to reduce and manage Germany's industrial capacity.
Background
At the Potsdam conference (July–August 1945), with the US ...
, large parts of German industry, including Volkswagen, were to be dismantled. Total German car production was set at a maximum of 10% of the 1936 car production numbers. The company survived by producing cars for the British Army, and in 1948 the British Government handed the company back over to the German state, and it was managed by former Opel chief Heinrich Nordhoff
Heinz Heinrich Nordhoff (6 January 1899 – 12 April 1968) was a German engineer who led the Volkswagen company as it was rebuilt after World War II.
Life and career
Nordhoff was born in Hildesheim, the son of a banker. He graduated from the Tech ...
.
Production of the Type 60 Volkswagen (re-designated Type 1) started slowly after the war due to the need to rebuild the plant and because of the lack of raw materials, but production grew rapidly in the 1950s and 1960s. The company began introducing new models based on the Type 1, all with the same basic air-cooled, rear-engine, rear-drive platform. These included the Volkswagen Type 2
The Volkswagen Type 2, known officially (depending on body type) as the Transporter, Kombi or Microbus, or, informally, as the Bus (US), Camper (UK) or Bulli (Germany), is a forward control light commercial vehicle introduced in 1950 by the Ge ...
in 1950, the Volkswagen Karmann Ghia
The Volkswagen Karmann Ghia is a sports car marketed in 2+2 coupe (1955–1974) and 2+2 convertible (1957–1974) body styles by Volkswagen. Internally designated the Type 14, the Karmann Ghia combined the chassis and mechanicals of the Type 1 (B ...
in 1955, the Volkswagen Type 3
The Volkswagen Type 3 is a compact car manufactured and marketed by Volkswagen from 1961-1973. Introduced at the 1961 Frankfurt Motor Show, ''Internationale Automobil-Ausstellung (IAA)'', the Type 3 was marketed as the Volkswagen 1500 and later ...
in 1961, the Volkswagen Type 4
The Volkswagen Type 4 is a compact / midsize family car, manufactured and marketed by Volkswagen of Germany as a Dsegment car from 1968 to 1974 in two-door and four-door sedan as well as two-door station wagon body styles. The Type 4 evolved thr ...
in 1968, and the Volkswagen Type 181 in 1969.
In 1960, upon the flotation of part of the German federal government
The Federal Cabinet or Federal Government (german: link=no, Bundeskabinett or ') is the chief executive body of the Federal Republic of Germany. It consists of the Federal Chancellor and cabinet ministers. The fundamentals of the cabinet's or ...
's stake in the company on the German stock market, its name became ''Volkswagenwerk Aktiengesellschaft
(; abbreviated AG, ) is a German word for a corporation limited by share ownership (i.e. one which is owned by its shareholders) whose shares may be traded on a stock market. The term is used in Germany, Austria, Switzerland (where it is equi ...
'' (usually abbreviated to ''Volkswagenwerk AG'').
On 1 January 1965, Volkswagenwerk acquired Auto Union GmbH from its parent company Daimler-Benz
The Mercedes-Benz Group AG (previously named Daimler-Benz, DaimlerChrysler and Daimler) is a German multinational automotive corporation headquartered in Stuttgart, Baden-Württemberg, Germany. It is one of the world's leading car manufactur ...
. The new subsidiary went on to produce the first post-war Audi
Audi AG () is a German automotive manufacturer of luxury vehicles headquartered in Ingolstadt, Bavaria, Germany. As a subsidiary of its parent company, the Volkswagen Group, Audi produces vehicles in nine production facilities worldwide.
Th ...
models, the Audi F103
F103 is the internal designation for a series of car models produced by Auto Union GmbH (after merger with NSU Motorenwerke in 1969: Audi NSU Auto Union) in West Germany from 1965 to 1972, derived from the earlier DKW F102. To signify the chang ...
series, shortly afterwards.
Another German manufacturer, NSU Motorenwerke AG
NSU Motorenwerke AG, or NSU, was a German manufacturer of automobiles, motorcycles and pedal cycles, founded in 1873. Acquired by Volkswagen Group in 1969, VW merged NSU with Auto Union, creating Audi NSU Auto Union AG, ultimately Audi. The nam ...
, was merged into Auto Union on 26 August 1969, creating a new company, Audi NSU Auto Union AG (later renamed AUDI AG
Audi AG () is a German automotive manufacturer of luxury vehicles headquartered in Ingolstadt, Bavaria, Germany. As a subsidiary of its parent company, the Volkswagen Group, Audi produces vehicles in nine production facilities worldwide.
The o ...
in 1985).
1970 to 1999
From the late 1970s to 1992, the acronym V.A.G. was used by Volkswagen AG as a brand for group-wide activities, such as distribution and leasing. Contrary to popular belief, "V.A.G." had no official meaning, and was never the formal name of the Volkswagen Group.
On 30 September 1982, Volkswagenwerk made its first step expanding outside Germany by signing a co-operation agreement with the Spanish car manufacturer SEAT, S.A.
A seat is a place to sit. The term may encompass additional features, such as back, armrest, head restraint but also headquarters in a wider sense.
Types of seat
The following are examples of different kinds of seat:
* Armchair, a chair ...
To reflect the company's increasing global diversification from its headquarters and main plant (the ''Volkswagenwerk'' in Wolfsburg), on 4 July 1985, the company name was changed again—to ''Volkswagen Aktiengesellschaft'' (Volkswagen AG).
On 18 June 1986, Volkswagen AG acquired a 51% controlling stake in SEAT, making it the first non-German subsidiary of the Volkswagen Group. On 23 December the same year, it became the Spanish company's major shareholder by increasing its share up to 75%.
In 1990—after purchasing its entire equity—Volkswagen AG took over the full ownership of SEAT, making the company a wholly owned subsidiary, and on 28 March 1991, another step to the expansion of the group's activities was made through the signing of a joint-venture partnership agreement with Škoda automobilová a.s. of Czechoslovakia
, rue, Чеськословеньско, , yi, טשעכאסלאוואקיי,
, common_name = Czechoslovakia
, life_span = 1918–19391945–1992
, p1 = Austria-Hungary
, image_p1 ...
, accompanied with the acquisition of a 30% stake in the Czech car manufacturer on 16 April 1991. On 19 December 1994, the group began the acquisition of Škoda Auto by raising its share to 60.3%. Later, on 11 December 1995, it became the Czech company's largest and controlling shareholder by increasing its share up to 70%.
Three prestige automotive marques were added to the Volkswagen portfolio in 1998: Bentley, Lamborghini, and Bugatti.
2000 to present
On 30 May 2000, after having gradually raised its equity share, Volkswagen AG took over the full ownership of Škoda Auto, making the company a wholly owned subsidiary.
From 2002 up to 2007, the Volkswagen Group's automotive division was restructured so that two major Brand Groups with different profile would be formed, the ''Audi Brand Group'' focused on more sporty values – consisted of Audi, SEAT and Lamborghini – and the ''Volkswagen Brand Group'' on the field of classic values – consisted of Volkswagen, Skoda, Bentley and Bugatti – with each Brand Group's product vehicles and performance being respectively under the higher responsibility of Audi and Volkswagen brands.
Volkswagen Group revealed on 24 October 2009 that it had made an offer to acquire long-time partner and German niche automotive manufacturer Wilhelm Karmann GmbH out of bankruptcy protection. In November 2009, the supervisory board of Volkswagen AG approved the acquisition of assets of Karmann, and planned to restart vehicle production at their Osnabrück
Osnabrück (; wep, Ossenbrügge; archaic ''Osnaburg'') is a city in the German state of Lower Saxony. It is situated on the river Hase in a valley penned between the Wiehen Hills and the northern tip of the Teutoburg Forest. With a population ...
plant in 2012.
In December 2009, Volkswagen AG bought a 49.9% stake in Dr. Ing. h.c. F. Porsche AG (more commonly known as Porsche AG) in a first step towards an 'integrated automotive group' with Porsche. The merger of Volkswagen AG and Porsche SE was scheduled to take place during the course of 2011. On 8 September 2011, it was announced that the planned merger "cannot be implemented within the time frame provided for in the Comprehensive Agreement". As reasons, unquantifiable legal risks, including a criminal probe into the holding's former management team were given. Both parties "remain committed to the goal of creating an integrated automotive group with Porsche and are convinced that this will take place". On 4 July 2012 Volkswagen group announced they would wrap up the remaining half of Porsche shares for 4.46 billion euros (US$5.58 billion) on 1 August 2012 to avoid taxes of as much as 1.5 billion euros, which would have to be paid if the wrap up happened after 31 July 2014. Volkswagen AG purchased the remaining stake in Porsche AG equaling 100% of the shares in Porsche Zwischenholding GmbH, effectively becoming its parent company as of 1 August 2012.
Volkswagen AG completed the purchase of 19.9% of Suzuki Motor Corporation's issued shares on 15 January 2010. Suzuki invested part of the amount received from Volkswagen into 1.49% percent of Volkswagen. In 2011, Suzuki filed a lawsuit at an arbitration court in London requesting that Volkswagen return the 19.9% stake.
On 25 May 2010, it was announced that Volkswagen Group, through it subsidiary Lamborghini Holding S.p.A., had acquired a 90.1% stake in the Italian automotive design
Automotive design is the process of developing the appearance (and to some extent the ergonomics) of motor vehicles - including automobiles, motorcycles, trucks, buses, coaches, and vans.
The functional design and development of a modern m ...
house Italdesign Giugiaro
Italdesign Giugiaro S.p.A. is a design and engineering company and brand based in Moncalieri, Italy, that traces its roots to the 1968 foundation of Studi Italiani Realizzazione Prototipi S.p.A. by Giorgetto Giugiaro and Aldo Mantovani. Best k ...
.
In less than three months, the transaction had been completed making the Italian firm a member of the Volkswagen Group. Since 2013 the Volkswagen Group has held a 89.7% stake in Traton
Traton SE, known as the Traton Group (formerly Volkswagen Truck & Bus AG), is a subsidiary of the Volkswagen Group and one of the world's largest commercial vehicle manufacturers, with its MAN, Scania, Navistar, and Volkswagen Caminhões e Ôn ...
.
In 2015 research showed a security flaw in the keyless ignition of Volkswagen and other carmakers' vehicles. Volkswagen spent two years trying to keep the research from the public domain.
On 3 August 2015, Nokia
Nokia Corporation (natively Nokia Oyj, referred to as Nokia) is a Finnish multinational telecommunications, information technology, and consumer electronics corporation, established in 1865. Nokia's main headquarters are in Espoo, Finland, i ...
announced that it had reached a deal to sell its Here
Here is an adverb that means "in, on, or at this place". It may also refer to:
Software
* Here Technologies, a mapping company
* Here WeGo (formerly Here Maps), a mobile app and map website by Here Technologies, Here
Television
* Here TV (form ...
digital maps division to a consortium of three German automakers— BMW, Daimler AG
The Mercedes-Benz Group AG (previously named Daimler-Benz, DaimlerChrysler and Daimler) is a German multinational automotive corporation headquartered in Stuttgart, Baden-Württemberg, Germany. It is one of the world's leading car manufactu ...
, and Volkswagen Group, for €2.8 billion. This was seen as an indication that the automakers were interested in automated cars.
Volkswagen held a 19.9% non-controlling shareholding in Suzuki between 2009 and 2015. An international arbitration court ordered Volkswagen to sell the stake back to Suzuki. On 17 September 2015, Suzuki paid $3.8bn to complete the stock buy-back just hours prior to a major scandal about emissions violations engulfing Volkswagen. Suzuki had wished to buy Fiat diesel engines.
Bugatti left the Volkswagen Group in November 2021, when the company became part of Bugatti Rimac, a joint venture
A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and economic risk, risks, and shared governance. Companies typically pursue joint ventures for one of four rea ...
between Rimac Automobili
Rimac Automobili (, \'Ri-mats\) is a Croatian car manufacturer headquartered in Sveta Nedelja, Croatia, that develops and produces electric sports cars, drivetrains and battery systems. The company was founded in 2009 by Mate Rimac. Rimac Auto ...
and Porsche AG
Dr. Ing. h.c. F. Porsche AG, usually shortened to Porsche (; see below), is a German automobile manufacturer specializing in high-performance sports cars, SUVs and sedans, headquartered in Stuttgart, Baden-Württemberg, Germany. The company is ...
.
Emissions scandal, 2015
On 18 September 2015, the US EPA announced that Volkswagen had installed a "defeat device" software code in the diesel models sold in the US from 2009 to 2015. The code was intended to detect when an emissions test was being conducted, and altered emissions controls for better compliance. Off the test stand, the controls were relaxed, and emissions jumped 35 to 40 times regulatory levels according to investigators at West Virginia University and the California Air Resources Board. About 482,000 vehicles are under the recall order, a potential $18 billion ($37,500 per violation) in fines are pending, and news accounts speculate a criminal indictment for the deception is certain. The VW Group CEO, Martin Winterkorn
Martin Winterkorn (born 24 May 1947) is a German former business executive who was chairman of the board of management (CEO, ''Vorstandsvorsitzender'' in German) of Volkswagen AG, the parent company of the Volkswagen Group, chairman of the supe ...
, said he was "deeply sorry" and ordered an external investigation. The software code was only revealed when the EPA refused to certify VW's 2016 models for sale in the US unless the corporation provided full disclosure. On Sunday, 20 September 2015, VW Group announced it was halting the sale of its four-cylinder diesel models in the US. The US EPA press release on its Notice of Violation, and the California Air Resources Board letter dated 18 September 2015 contain significant chronological detail of the agencies interaction with VW on the issue.
On 22 September 2015, VW AG admitted that 11 million cars worldwide had been fitted with software intended to deceive emissions testing. The company issued a profit warning, saying it had set aside $7 billion to fix the fraud. On 23 September 2015, Martin Winterkorn announced his resignation from the CEO position after a crisis meeting of the company board. On 25 September 2015 Matthias Müller was named CEO. Müller was the head of the Porsche marque within the VW corporate umbrella.
On 21 April 2017, a U.S. federal judge ordered Volkswagen "to pay a $2.8 billion criminal fine for rigging diesel-powered vehicles to cheat on government emissions tests". The "unprecedented" plea deal formalized a punishment that Volkswagen AG agreed to earlier in 2017. In addition, the plea deal includes a $1.5 billion settlement for various environmental, customs and financial violations.
Overall, Volkswagen will pay more than $30 billion in penalties and lawsuit settlements related to the scandal.
Electrification strategy 2025
In 2016, Volkswagen Group announced a corporate "Strategy 2025" that focuses on electrification of its portfolio. The VW Group developed the Volkswagen Group MEB platform
The Volkswagen Group MEB platform (german: Modularer E-Antriebs-Baukasten; English: ''modular electric-drive toolkit'') is a modular car platform for electric cars developed by the Volkswagen Group and its subsidiaries.Julian RendellSkoda electri ...
chassis that will be utilized in a range of various cars and light utility vehicle
A utility vehicle is a vehicle, generally motorized, that is designed to carry out a specific task with more efficacy than a passenger vehicle. It sometimes refers to a small truck with low sides.
Types of utility vehicles
Military light u ...
s across several VW Group marques due to its flexibility and floor-mounted battery.
As of May 2018, the VW Group has committed $48 billion in car battery
An automotive battery or car battery is a rechargeable battery that is used to start a motor vehicle. Its main purpose is to provide an electric current to the electric-powered starting motor, which in turn starts the chemically-powered internal ...
supplies[VW doubles its electric vehicle battery contracts to $48 billion](_blank)
. '' Fortune''. 3 May 2018. and plans to outfit 16 factories to build electric cars by the end of 2022. According to VW Group CEO Dr. Herbert Diess
Herbert Diess (born 24 October 1958) is an Austrian businessman, the current chairman of the board of management of Volkswagen Group, as well as the chairman of the board of management of the Volkswagen Passenger Cars brand.
Career
BMW
In ...
, the company will offer 25 electric models and 20 plug-in hybrids by 2020.
Production in Xinjiang
Volkswagen Group came under pressure for cooperating with the Chinese government in the region of Xinjiang
Xinjiang, SASM/GNC: ''Xinjang''; zh, c=, p=Xīnjiāng; formerly romanized as Sinkiang (, ), officially the Xinjiang Uygur Autonomous Region (XUAR), is an autonomous region of the People's Republic of China (PRC), located in the northwest ...
. In that same region, western-funded NGOs accused the Chinese government of having committed human rights abuses against the Uighur minority group, which included mass surveillance, incarceration, and forced labor. After these accusations emerged, Volkswagen responded, "We do not assume any of our employees are forced laborers." '' Süddeutsche Zeitung'' claimed that Volkswagen was operating a plant in Xinjiang at a loss in order to curry favor with the Chinese government to set up more lucrative plants in other parts of China, which Volkswagen denied, saying that the decision to set up the plant in 2012 was purely based on economics. Volkswagen is still operating a plant in the region as of 2020.
New Auto
In 2021, Volkswagen Group released their ''New Auto'' strategy. The strategy was based on transitioning to electric cars, and building a shared platform, battery systems, software and mobility solutions to use across all their brands. This involves creating the Scalable Systems Platform, as well as developing software under a new subsidiary called ''CARIAD''. Volkswagen Group aims by 2024 to transition to selling mostly electric cars. It aims to have six battery factories in Europe by 2030.
Finances
For the fiscal year 2018, Volkswagen reported earnings of €13.920 billion, with an annual revenue of €235.849 billion, an increase of 2.2% over the previous fiscal cycle. Volkswagen's shares traded at over €148 per share, and its market capitalization was valued at US$73.8 billion in November 2018.
Operations
Rooted in Europe, the Volkswagen Group operates in 153 countries. Volkswagen Passenger Cars is the Group's original marque, and the other major subsidiaries include passenger car marques such as Audi
Audi AG () is a German automotive manufacturer of luxury vehicles headquartered in Ingolstadt, Bavaria, Germany. As a subsidiary of its parent company, the Volkswagen Group, Audi produces vehicles in nine production facilities worldwide.
Th ...
, Bentley, Lamborghini, Porsche, SEAT, and Škoda
Škoda means ''pity'' in the Czech and Slovak languages. It may also refer to:
Czech brands and enterprises
* Škoda Auto, automobile and previously bicycle manufacturer in Mladá Boleslav
** Škoda Motorsport, the division of Škoda Auto respons ...
. Volkswagen AG also has operations in commercial vehicle
A commercial vehicle is any type of motor vehicle used for transporting goods or paying passengers.
The United States defines a "commercial motor vehicle" as any self-propelled or towed vehicle used on a public highway in interstate commerce to t ...
s, owning Volkswagen Commercial Vehicles
Volkswagen Commercial Vehicles (VWCV; german: Volkswagen Nutzfahrzeuge , abbreviated ''VWN'' ) is a German marque of light commercial vehicles, owned by Volkswagen Group. It is headquartered in Hannover, Lower Saxony, Germany. Originally p ...
, along with controlling stakes in truck, bus and diesel engine
The diesel engine, named after Rudolf Diesel, is an internal combustion engine in which ignition of the fuel is caused by the elevated temperature of the air in the cylinder due to mechanical compression; thus, the diesel engine is a so-ca ...
manufacturers Scania AB
Scania AB is a major Swedish manufacturer headquartered in Södertälje, focusing on commercial vehicles—specifically heavy lorries, trucks and buses. It also manufactures diesel engines for heavy vehicles as well as marine and general ind ...
and MAN SE
MAN SE (abbreviation of ''Maschinenfabrik Augsburg-Nürnberg'', ) was a manufacturing and engineering company based in Munich, Germany. Its primary output was commercial vehicles and diesel engines through its MAN Truck & Bus and MAN Latin Ame ...
.
Subsidiaries and brands
The Volkswagen Group comprises the following vehicle manufacturers and their corresponding brand
A brand is a name, term, design, symbol or any other feature that distinguishes one seller's good or service from those of other sellers. Brands are used in business, marketing, and advertising for recognition and, importantly, to create ...
s:[Volkswagen Truck and Bus are renamed to TRATON AG.]
* Audi AG: 100% ownership — The current company was formed through the acquisitions of Auto Union
Auto Union AG, was an amalgamation of four German automobile manufacturers, founded in 1932 and established in 1936 in Chemnitz, Saxony. It is the immediate predecessor of Audi as it is known today.
As well as acting as an umbrella firm fo ...
from Daimler-Benz
The Mercedes-Benz Group AG (previously named Daimler-Benz, DaimlerChrysler and Daimler) is a German multinational automotive corporation headquartered in Stuttgart, Baden-Württemberg, Germany. It is one of the world's leading car manufactur ...
on 30 December 1964, and NSU Motorenwerke
NSU Motorenwerke AG, or NSU, was a German manufacturer of automobiles, motorcycles and pedal cycles, founded in 1873. Acquired by Volkswagen Group in 1969, VW merged NSU with Auto Union, creating Audi NSU Auto Union AG, ultimately Audi. The nam ...
on 9 March 1969 - Audi being the sole surviving marque from the Auto Union combine.
**Audi Sport GmbH
Audi Sport GmbH, formerly known as quattro GmbH,[Audi-Mediacente ...](_blank)
— Audi's performance engineering and manufacturing subsidiary.
** Automobili Lamborghini S.p.A.: 100% ownership — acquired by AUDI AG in September 1998.
*** Ducati Motor Holding S.p.A.: 100% ownership — bought on 19 July 2012.
** Bentley Motors Ltd: 100% ownership. Volkswagen purchased Rolls-Royce
Rolls-Royce (always hyphenated) may refer to:
* Rolls-Royce Limited, a British manufacturer of cars and later aero engines, founded in 1906, now defunct
Automobiles
* Rolls-Royce Motor Cars, the current car manufacturing company incorporated in ...
& Bentley from Vickers
Vickers was a British engineering company that existed from 1828 until 1999. It was formed in Sheffield as a steel foundry by Edward Vickers and his father-in-law, and soon became famous for casting church bells. The company went public i ...
on 28 July 1998, however the purchase did not include the license to use the Rolls-Royce trademark on automobiles, which is controlled by Rolls-Royce Plc
Rolls-Royce Holdings plc is a British multinational aerospace and defence company incorporated in February 2011. The company owns Rolls-Royce, a business established in 1904 which today designs, manufactures and distributes power systems for ...
. BMW outmaneuvered Volkswagen, succeeding in obtaining the rights to use the Rolls-Royce trademark on automobiles. From July 1998 until December 2002, BMW continued to supply engines for the Rolls-Royce Silver Seraph
The Rolls-Royce Silver Seraph was a large luxury automobile produced by Rolls-Royce Motors from 1998 to 2002. First unveiled on 3 March 1998 at the Geneva Motor Show, it replaced the Silver Spirit, which ended production in 1997. Silver Seraph ...
and the Bentley division sold cars under both the Bentley and Rolls-Royce marques, under an agreement with BMW. In January 2022, Bentley became part of the Audi group.
* Dr. Ing. h.c. F. Porsche AG: 75% ownership — Volkswagen AG purchased 49.9% of the shares in Porsche Zwischenholding GmbH (the holding company of Porsche AG) in December 2009. Volkswagen AG purchased the remaining stake in Porsche AG equaling 100% of the shares in Porsche Zwischenholding GmbH, effectively becoming its parent company as of 1 August 2012. 25% of shares sold in an IPO
An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...
of Porsche AG in 2022.
* Jetta: Joint venture
A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and economic risk, risks, and shared governance. Companies typically pursue joint ventures for one of four rea ...
with First Automotive Works created in 2019.
* Scout Motors Inc.: 100% ownership — founded in 2022.
* SEAT, S.A.: 100% ownership — initially in 1982 a co-operation agreement with AUDI AG; 51% and 75% ownership in 1986, and full ownership in 1990. SEAT was the first non-German subsidiary of the Volkswagen Group.
** Cupra: 100% ownership by SEAT. In 2018, SEAT's motorsport division SEAT Sport was renamed Cupra Racing
Cupra Racing, formerly known as SEAT Sport, is the high-performance motorsport subsidiary of the Spanish automobile manufacturer SEAT, founded in 1985, succeeding the "SEAT Special Vehicles department" which had been formed in 1971 with the miss ...
and at the same time, Cupra was launched as an independent brand alongside SEAT.
* Škoda Auto a.s.: 100% ownership — initially in 1991 a co-operation agreement and 30% ownership; 60.3% and 70% ownership in 1994 and 1995 respectively, 100% ownership since 2000
* TRATON SE: 89.7% ownership — Formerly ''Volkswagen Truck and Bus'', TRATON is the holding company for Volkswagen Group's heavy commercial vehicle operations.
** MAN Truck & Bus SE: 100% ownership — Transferred to TRATON SE after it merged with MAN SE in August 2021.
** Navistar International Corporation: 100% ownership — produces heavy trucks under the International brand. Wholly owned by TRATON SE since July 2021. Volkswagen Truck and Bus (now TRATON) took an initial 16.6% stake in Navistar in February 2017.
** Scania AB: 100% ownership — wholly owned by TRATON SE since 15 January 2015. Volkswagen acquired a controlling stake
A controlling interest is an ownership interest in a corporation with enough voting stock shares to prevail in any stockholders' motion. A majority of voting shares (over 50%) is always a controlling interest. When a party holds less than the major ...
in July 2008, making Scania the 9th marque of the Volkswagen Group.
**Volkswagen Truck & Bus
Volkswagen (),English: , . abbreviated as VW (), is a German Automotive industry, motor vehicle manufacturer headquartered in Wolfsburg, Lower Saxony, Germany. Founded in 1937 by the German Labour Front under the Nazi Party and revived into a ...
: 100% ownership — Volkswagen's Brazilian heavy truck and bus division. Sold by Volkswagen Group to MAN SE in December 2008 and from that point was also known as ''MAN Latin America''. In November 2011, Volkswagen acquired a majority of the shares in MAN SE, bringing Volkswagen Truck & Bus back into the group. Transferred to TRATON SE after it merged with MAN SE in August 2021.
*Volkswagen Commercial Vehicles
Volkswagen Commercial Vehicles (VWCV; german: Volkswagen Nutzfahrzeuge , abbreviated ''VWN'' ) is a German marque of light commercial vehicles, owned by Volkswagen Group. It is headquartered in Hannover, Lower Saxony, Germany. Originally p ...
( ): 100% ownership — Volkswagen's light commercial vehicle division started operations as an independent entity in 1995.
* Volkswagen Passenger Cars: 100% ownership — the founding and flagship marque of the company.Other subsidiaries and shareholdings:
* Bugatti Rimac: Joint venture between Porsche AG (45%) and Rimac Group (55%).
*MOIA: 100% ownership — new mobility services company.
* Italdesign Giugiaro S.p.A.: 100% ownership — 90.1% acquired via Lamborghini S.p.A. in May 2010. Remaining shares transferred in July 2015.
*IAV
IAV GmbH Ingenieurgesellschaft Auto und Verkehr, (literal ''Engineer Society Automobile and Traffic''), abbreviated to IAV GmbH, is an engineering company in the automotive industry, designing products for powertrain, electronics and vehicle ...
: 50% ownership.
*Argo AI
Argo AI was an autonomous driving technology company headquartered in Pittsburgh, Pennsylvania. The company was co-founded in 2016 by Bryan Salesky and Peter Rander, veterans of the Google and Uber automated driving programs. Argo AI was an inde ...
: 40% ownership — since June 2020.
*Diconium: 100% ownership — since January 2020.
*PayByPhone: a pay by phone parking
Pay-by-phone parking allows any driver parking in a fare required space the option to divert the expense to a credit card or to a mobile network operator via the use of a mobile phone, mobile application or computer, opposed to inserting cash ...
service that allows users to pay for parking remotely. The service processes more than US$740 million / €660 million Euros in payments and more than 5 million downloads a year.
The Group also owns five defunct marques which are managed through the companies Auto Union GmbH and NSU GmbH, both of which are 100% owned by AUDI AG:
*Auto Union
Auto Union AG, was an amalgamation of four German automobile manufacturers, founded in 1932 and established in 1936 in Chemnitz, Saxony. It is the immediate predecessor of Audi as it is known today.
As well as acting as an umbrella firm fo ...
— the Auto Union company, together with NSU Motorenwerke AG
NSU Motorenwerke AG, or NSU, was a German manufacturer of automobiles, motorcycles and pedal cycles, founded in 1873. Acquired by Volkswagen Group in 1969, VW merged NSU with Auto Union, creating Audi NSU Auto Union AG, ultimately Audi. The nam ...
(NSU), were merged into "Audi NSU Auto-Union AG" in 1969. The name was shortened to "AUDI AG" in 1985, and the interlocked four-ring badge from Auto Union is still used by AUDI AG.
*Dampf-Kraft-Wagen
DKW (''Dampf-Kraft-Wagen'', en, "steam-powered car", also ''Deutsche Kinder-Wagen'' en, "German children's car". ''Das-Kleine-Wunder'', en, "the little wonder" or ''Des-Knaben-Wunsch'', en, "the boy's wish"- from when the company built to ...
(DKW)
*Horch
Horch () was a car brand manufacturer, founded in Germany by August Horch & Cie at the beginning of the 20th century.
It is one of the predecessors of the present day Audi company, which itself resulted from the merger of Auto Union Aktienge ...
*NSU Motorenwerke AG
NSU Motorenwerke AG, or NSU, was a German manufacturer of automobiles, motorcycles and pedal cycles, founded in 1873. Acquired by Volkswagen Group in 1969, VW merged NSU with Auto Union, creating Audi NSU Auto Union AG, ultimately Audi. The nam ...
(NSU) – bought in 1969 by Volkswagen AG, and merged into "Audi NSU Auto-Union AG"; the NSU brand has not been used since 1977, while the former NSU manufacturing plant at Neckarsulm
Neckarsulm () is a city in northern Baden-Württemberg, Germany, near Heilbronn, and part of the district of Heilbronn. , Neckarsulm had 26,800 inhabitants. The name Neckarsulm derives from the city's location where the Neckar and Sulm rivers ...
is still used for Audi assembly.
*Wanderer
Wanderer, Wanderers, or The Wanderer may refer to:
* Nomadism, Nomadic and/or itinerant people, working short-term before moving to other locations, who wander from place to place with no permanent home, or are vagrancy (people), vagrant
* The Wan ...
Corporate affairs
Ownership
Under the Volkswagen Law, no shareholder in Volkswagen AG could exercise more than 20 percent of the firm's voting rights, regardless of their level of stock holding. This law was supposed to protect Volkswagen Group from takeovers. In October 2005, Porsche acquired an 18.53 percent stake in the business, and in July 2006, Porsche increased that ownership to more than 25 percent. Analysts disagreed as to whether the investment was a good fit for Porsche's strategy.
On 26 March 2007, after the European Union
The European Union (EU) is a supranational political and economic union of member states that are located primarily in Europe. The union has a total area of and an estimated total population of about 447million. The EU has often been de ...
moved against the Volkswagen law, Porsche took its holding to 30.9 percent, triggering a takeover bid under German law. Porsche formally announced in a press statement that it did not intend to take over Volkswagen Group, setting its offer price at the lowest possible legal value, but intended the move to avoid a competitor taking a large stake, or to stop hedge funds dismantling Volkswagen Group, which is Porsche's most important partner.
On 16 September 2008, Porsche announced that the company had increased its stake in Volkswagen AG to 35 percent. By October 2008, Porsche held 42.6 percent of Volkswagen AG's ordinary shares
Common stock is a form of corporate equity ownership, a type of security. The terms voting share and ordinary share are also used frequently outside of the United States. They are known as equity shares or ordinary shares in the UK and other Comm ...
, and held stock options on another 31.5 percent. thus, effectively holding over 74 percent; 42.6 percent actual shares, and the rest as convertible options. Volkswagen AG briefly became the world's most valuable company, as the stock price rose to over €1,000 per share as short sellers tried to cover their positions. The substantial investment in Volkswagen left Porsche with huge financial burden with its debts accumulating up to 13 billion euros by 2009. Porsche would get emergency infusion of about a billion dollars from Volkswagen. In July 2012, Volkswagen completed takeover of Porsche ending the 4 year saga and formed an integrated automotive group with Porsche. Porsche AG would become the 10th brand of Volkswagen. The holding company Porsche SE was left with 31 percent of the subscribed capital of Volkswagen AG, and 50.7 percent of the voting rights in the company.
, share ownership of Volkswagen AG is distributed as follows:
Stock market listings
Volkswagen AG shares are primarily traded on the Frankfurt Stock Exchange
The Frankfurt Stock Exchange (german: link=no, Börse Frankfurt, former German name – FWB) is the world's 12th largest stock exchange by market capitalization. It has operations from 8:00 am to 10:00 pm ( German time).
Organisation
Loca ...
, and are listed under the 'VOW' and 'VOW3' stock ticker symbols. First listed in August 1961, the shares were issued at a price of DM 350 per DM 100 share,[ Volkswagen AG shares are now separated into two different types or classes: ']ordinary shares
Common stock is a form of corporate equity ownership, a type of security. The terms voting share and ordinary share are also used frequently outside of the United States. They are known as equity shares or ordinary shares in the UK and other Comm ...
' and 'preference shares
Preferred stock (also called preferred shares, preference shares, or simply preferreds) is a component of share capital that may have any combination of features not possessed by common stock, including properties of both an equity and a debt inst ...
'.[ The ordinary shares are now traded under the WKN 766400 and ISIN DE0007664005 listings, and the preference shares under the WKN 766403 and ISIN DE0007664039 listings.][
Volkswagen AG shares are also listed and traded on other major domestic and worldwide stock exchanges. In Germany's domestic exchanges, since 1961 these include those in ]Berlin
Berlin ( , ) is the capital and List of cities in Germany by population, largest city of Germany by both area and population. Its 3.7 million inhabitants make it the European Union's List of cities in the European Union by population within ci ...
, Düsseldorf
Düsseldorf ( , , ; often in English sources; Low Franconian and Ripuarian language, Ripuarian: ''Düsseldörp'' ; archaic nl, Dusseldorp ) is the capital city of North Rhine-Westphalia, the most populous state of Germany. It is the second- ...
, Hamburg, Hanover
Hanover (; german: Hannover ; nds, Hannober) is the capital and largest city of the German state of Lower Saxony. Its 535,932 (2021) inhabitants make it the 13th-largest city in Germany as well as the fourth-largest city in Northern Germany ...
, Munich
Munich ( ; german: München ; bar, Minga ) is the capital and most populous city of the German state of Bavaria. With a population of 1,558,395 inhabitants as of 31 July 2020, it is the third-largest city in Germany, after Berlin and Ha ...
and Stuttgart. International exchanges include those in Basel
, french: link=no, Bâlois(e), it, Basilese
, neighboring_municipalities= Allschwil (BL), Hégenheim (FR-68), Binningen (BL), Birsfelden (BL), Bottmingen (BL), Huningue (FR-68), Münchenstein (BL), Muttenz (BL), Reinach (BL), Riehen (BS ...
(listed in 1967), Geneva
, neighboring_municipalities= Carouge, Chêne-Bougeries, Cologny, Lancy, Grand-Saconnex, Pregny-Chambésy, Vernier, Veyrier
, website = https://www.geneve.ch/
Geneva ( ; french: Genève ) frp, Genèva ; german: link=no, Genf ; it, Ginevr ...
(1967), Zürich
, neighboring_municipalities = Adliswil, Dübendorf, Fällanden, Kilchberg, Maur, Oberengstringen, Opfikon, Regensdorf, Rümlang, Schlieren, Stallikon, Uitikon, Urdorf, Wallisellen, Zollikon
, twintowns = Kunming, San Francisco
Zürich ...
(1967), Luxembourg
Luxembourg ( ; lb, Lëtzebuerg ; french: link=no, Luxembourg; german: link=no, Luxemburg), officially the Grand Duchy of Luxembourg, ; french: link=no, Grand-Duché de Luxembourg ; german: link=no, Großherzogtum Luxemburg is a small lan ...
(1979), London (1988), and New York (1988).[
Since the start of trading in 1961, Volkswagen AG shares have been subjected to two ]stock split
A stock split or stock divide increases the number of shares in a company. For example, after a 2-for-1 split, each investor will own double the number of shares, and each share will be worth half as much.
A stock split causes a decrease of mark ...
s – the first was on 17 March 1969 when they were split at a ratio of 2:1, from a DM 100 share to a DM 50 share. The second split occurred on 6 July 1998, the DM 50 share being converted into a share of no overall nominal value, at a ratio of 1:10.[
From 23 December 2009, Volkswagen AG preferred shares replaced its ordinary shares in the ]DAX
Dax or DAX may refer to:
Business and organizations
* DAX, stock market index of the top 40 German companies
** DAX 100, an expanded index of 100 stocks, superseded by the HDAX
** TecDAX, stock index of the top 30 German technology firms
* Dax ...
index.
Leadership, sales and market share
In 2018, Volkswagen Group's largest single country market was China with 4.20 million units delivered, followed by Germany with 1.12 million units. Divided by regions, Asia-Pacific was the second-largest market of the Volkswagen Group with 4.50 million units in 2013, followed by Western Europe with 4.14 million, and North America with 943,000 units delivered in 2018.
The European ranking of automakers is compiled monthly by the European Auto Manufacturers' Association ACEA. Volkswagen has held the top spot in Europe uninterrupted for more than two decades.
The company was again the top global automaker in 2018, for the fifth consecutive year, selling 10.083 million vehicles in the year 2018, just 7,000 more than the Renault–Nissan–Mitsubishi Alliance.
Co-management
With 120,000 employees in Germany and 600,000 globally, it is one of the most well organized labour represented companies in the world. The role that Works Councils
A works council is a shop-floor organization representing workers that functions as a local/firm-level complement to trade unions but is independent of these at least in some countries. Works councils exist with different names in a variety of re ...
and the trade union IG Metall
IG Metall (; IGM; German: ''Industriegewerkschaft Metall'', "Industrial Union of Metalworkers'") is the dominant metalworkers' union in Germany, making it the country's largest union as well as Europe's largest industrial union. Analysts of Ge ...
play is unique even within Germany. VW workers have some of the strongest collective agreements. With the exception of the United States, all of its major locations are represented in the Global Works Council and local trade union
A trade union (labor union in American English), often simply referred to as a union, is an organization of workers intent on "maintaining or improving the conditions of their employment", ch. I such as attaining better wages and benefits ...
bodies. VW has a strong tradition and practice of social partnership
Social partnership ( ga, Pairtíocht sóisialta) is the term used for the tripartite, triennial national pay agreements reached in Ireland.
The process was initiated in 1987, following a period of high inflation and weak economic growth which le ...
and co-determination rights globally.
Sponsorships
Volkswagen
Volkswagen (),English: , . abbreviated as VW (), is a German motor vehicle manufacturer headquartered in Wolfsburg, Lower Saxony, Germany. Founded in 1937 by the German Labour Front under the Nazi Party and revived into a global brand post-W ...
is heavily involved in sports sponsorship, with investments having included the 2008 Summer Olympics, the 2014 Winter Olympics, as well as the David Beckham Academy. Volkswagen AG wholly owns the Bundesliga
The Bundesliga (; ), sometimes referred to as the Fußball-Bundesliga () or 1. Bundesliga (), is a professional association football league in Germany. At the top of the German football league system, the Bundesliga is Germany's primary footba ...
football side VfL Wolfsburg
Verein für Leibesübungen Wolfsburg e. V., commonly known as VfL Wolfsburg () or Wolfsburg, is a German professional sports club based in Wolfsburg, Lower Saxony. The club grew out of a multi-sports club for Volkswagen workers in the city of W ...
; the company is also the shirt sponsor of Major League Soccer club D.C. United
D.C. United is a professional soccer club based in Washington, D.C. that competes in the Eastern Conference of Major League Soccer, the top tier of American soccer. Domestically, the club has won four MLS Cups (league championships), four Supp ...
, League of Ireland Premier Division Sligo Rovers and top level of the Mexican football league system Liga MX team Puebla F.C.
See also
* List of automobile manufacturers
This is a list of notable automobile manufacturers with articles on Wikipedia by country. It includes companies that are in business as well as defunct manufacturers. Only companies that have articles here are included.
A
Algeria
* SNVI
...
* List of automobile manufacturers of Germany
Current major manufacturers
Current minor manufacturers
* 9FF (2001–present)
* Aaglander (2003–present)
* AC Schnitzer (1987–present)
* Alpina (1965–present)
* Apollo Automobil (2016-present)
* Arden
* Artega (2016-present)
* ...
* List of Volkswagen Group factories
This list of Volkswagen Group factories details the current and former manufacturing facilities operated by the automotive concern Volkswagen Group, and its subsidiaries. These include its mainstream marques of Volkswagen Passenger Cars, Audi ...
* List of Volkswagen Group platforms
The German automotive concern, Volkswagen Group has, since the 1970s, developed a series of shared automobile platforms for their motor vehicles.
Originally, these were identified using a simple alphanumeric system. The first letter prefix ind ...
* Wolfsburg Volkswagen Plant
The Wolfsburg Volkswagen Factory is the worldwide headquarters of the Volkswagen Group, and one of the largest manufacturing plants in the world, in terms of area at just under 6.5 million m² (70 million sq ft). The Wolfsburg plant produced 8 ...
Notes
References
Corporate documents
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*
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*
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External links
*
*
{{Authority control
Conglomerate companies of Germany
Emergency services equipment makers
Battery electric vehicle manufacturers
Motor vehicle engine manufacturers
Diesel engine manufacturers
Multinational companies headquartered in Germany
Companies based in Lower Saxony
Conglomerate companies established in 1937
Vehicle manufacturing companies established in 1937
German companies established in 1937
1960s initial public offerings
Companies in the Euro Stoxx 50
Companies listed on the Frankfurt Stock Exchange
Companies formerly listed on the London Stock Exchange
Companies involved in the Holocaust
Government-owned companies of Germany