Volkswagen Group

Volkswagen AG
Company typePublic (AG)
FWBVOW, VOW3
DAX component (VOW3)
ISINDE0007664005
IndustryManufacturing
Founded28 May 1937 (1937-05-28), in Berlin, Germany
FounderRobert Ley
Headquarters,
Germany
Number of locations
100 production facilities across 27 countries
Area served
Worldwide
Key people
Hans Dieter Pötsch (Chairman of the Supervisory Board)[1]
Oliver Blume (Chairman of the Board of Management)[2][3]
ProductsAutomobiles, commercial vehicles, internal combustion engines, motorcycles, turbomachinery
Production output
Increase 9,240,000 (2023)[4]
Brands
ServicesBanking, financing, fleet management, insurance, leasing[6]
RevenueIncrease 322.2840 billion (2023)
Increase €21.586 billion (2023)
Increase €16.013 billion (2023)
Total assetsIncrease €630.826 billion (2023)
Total equityIncrease €174.757 billion (2023)
Owners
Number of employees
Increase 667,647 employees (average during 2021)[4]
Subsidiaries
Transportation:[5]
Financial services:
  • Lamborghini Financial Services
    Bentley Financial Services
    Volkswagen Financial Services AG
    Volkswagen Leasing GmbH
    Porsche Financial Services
    Volkswagen Immobilien
Logistics:
  • Volkswagen Group Fleet International
    Volkswagen Group Supply
    Volkswagen Air Service
Industrial:
  • Volkswagen Industrial Motor
International:
Websitevolkswagen-group.com

Volkswagen AG (German: [ˈfɔlksˌvaːgŋ̍] ), known internationally as the Volkswagen Group, is a German public multinational conglomerate manufacturer of passenger and commercial vehicles, motorcycles, engines and turbomachinery. Headquartered in Wolfsburg, Lower Saxony, Germany, and since the late 2000s is a publicly-traded family business owned by Porsche SE, which in turn is half-owned but fully controlled by the Austrian-German Porsche and Piëch family. The company also offers 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 and was the largest automaker by revenue in 2022.[7] It has maintained the largest market share in Europe for over two decades.[8] It ranked seventh in the 2020 Fortune Global 500 list of the world's largest companies.[9] In Forbes Global 2000 2023 Volkswagen Group ranked 29th.[10]

The Volkswagen Group sells passenger cars under the Audi, Bentley, Bugatti, Cupra, Jetta, Lamborghini, Porsche, SEAT, Škoda and Volkswagen brands, motorcycles under the Ducati name, light commercial vehicles under the Volkswagen Commercial Vehicles brand, and heavy commercial vehicles via the marques of the listed subsidiary Traton (Navistar, MAN, Scania and Volkswagen Truck & Bus). It is divided into two primary divisions: the Automotive Division and the Financial Services Division. As of 2008, it had about 342 subsidiary companies.[11] Volkswagen also has three joint ventures in China, FAW-Volkswagen, SAIC Volkswagen and Volkswagen Anhui. The company has operations in roughly 150 countries, and it has 100 production facilities across 27 countries.

Volkswagen was founded in Berlin in 1937 and incorporated in Wolfsburg to manufacture the car that would become known as the Beetle. The company's production grew rapidly in the 1950s and 1960s. In 1965, it acquired Auto Union, 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; 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 is a public company and has a primary listing on the Frankfurt Stock Exchange, where it is a constituent of the Euro Stoxx 50 stock market index, and a secondary listings on the Luxembourg Stock Exchange and SIX Swiss Exchange. It has been traded in the United States via American depositary receipts since 1988, currently on the OTC Marketplace. Volkswagen delisted from the London Stock Exchange in 2013.[12][13] The government of Lower Saxony holds 12.7% of the company's shares, granting it, by law, 20% of the voting rights.[14]

  1. ^ "Extensive revision of Volkswagen Group management structure decided". Volkswagen Media Services. Archived from the original on 13 April 2018. Retrieved 12 April 2018.
  2. ^ "Oliver Blume follows Herbert Diess as Chairman of the Board of Management of the Volkswagen Group". Volkswagen News. 22 July 2022. Archived from the original on 1 September 2022. Retrieved 1 September 2022.
  3. ^ ""Team spirit, fairness and passion are key"". Volkswagen News. 1 September 2022. Archived from the original on 15 October 2022. Retrieved 1 September 2022.
  4. ^ a b c d e "VW-Konzern hat weltweit 9,24 Millionen Autos in 2023 verkauft". de.motor1.com (in German). 10 January 2024. Retrieved 20 January 2024.
  5. ^ a b Volkswagen AG 2012, pp. U60–U73.
  6. ^ Volkswagen AG 2012, p. 110.
  7. ^ "Focus2move| World Car Group Ranking - the top 25 in the 2019". 29 July 2019. Archived from the original on 15 April 2019. Retrieved 24 January 2019.
  8. ^ "NEW PASSENGER CAR REGISTRATIONS BY MANUFACTURER EUROPEAN UNION (EU)". ACEA. 16 January 2013. Archived from the original (XLS) on 3 February 2013. Retrieved 15 March 2013.
  9. ^ "Global 500 2023".
  10. ^ "The Global 2000 2023". Forbes. Archived from the original on 29 January 2024. Retrieved 7 February 2024.
  11. ^ Volkswagen AG 2009.
  12. ^ "Volkswagen AG Factsheet". Volkswagen AG. 14 February 2017. Archived from the original on 15 February 2017. Retrieved 14 February 2017.
  13. ^ "Volkswagen AG Investor Relations FAQ". Volkswagen AG. 14 February 2017. Archived from the original on 15 February 2017. Retrieved 14 February 2017.
  14. ^ "Volkswagen Aktiengesellschaft Interim Report January – September 2011" (PDF). Volkswagen AG. 27 October 2011. p. 39. Archived from the original (PDF) on 7 May 2012. Retrieved 5 November 2011.

Volkswagen Group

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