Volkswagen Group

German automotive manufacturing conglomerate

This article is about the main company. For the flagship marque of this company, see Volkswagen.

Volkswagen AG

Headquarters in Wolfsburg

Type| Public

Traded as

| FWB: VOW, VOW3
DAX Component (VOW3)
ISIN| DE0007664005
Industry| Automotive
Founded| Berlin, Germany
(28 May 1937; 84 years ago (1937-05-28))
Headquarters|

Wolfsburg

Germany

Number of locations

| 100 production facilities across 27 countries

Area served

| Worldwide

Key people

| Hans Dieter Pötsch (Chairman of the Supervisory Board)
Herbert Diess (Chairman of the Board of Management)[1]
Products| Automobiles, commercial vehicles, internal combustion engines, motorcycles, turbomachinery

Production output

|  8,900,000 (2020)[2]
Brands|

Automotive:[3]

* Audi
Bentley
Bugatti
Cupra
Ducati
Jetta
Lamborghini
Porsche
RUF
SEAT
Škoda
Volkswagen Passenger Cars

Commercial:

* Volkswagen Commercial Vehicles
Traton

Designing facilities:

* Italdesign Giugiaro

Services| Banking, financing, fleet management, insurance, leasing[4]
Revenue|  €222.884 billion
(2020)[2]

Operating income

|  €11.667 billion (2020)[2]

Net income

|  €8.334 billion (2020)[2]
Total assets|  €497.114 billion (2020)[2]
Total equity|  €127.049 billion (2020)[2]
Owners|

* Porsche SE: 31.4% of equity, 53.3% of votes  (as of 31 December 2020)[2]
* State of Lower Saxony: 11.8% of equity, 20% of votes  (as of 31 December 2020)[2]
* QIA: 14.6% of equity, 17% of votes  (as of 31 December 2020)[2]

Number of employees

|  307,342
(salaried employees)  (2020)[2]
Subsidiaries|

Transportation:[3]

* Traton (89.7%)
Porsche Holding
Volkswagen Marine

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:

* Volkswagen Group China
Volkswagen Group India
Volkswagen Group of America
Volkswagen Group Australia
Volkswagen Group Canada
Volkswagen Group Malaysia
Volkswagen do Brasil
Volkswagen Group Ireland
Volkswagen Group Italia
Volkswagen of South Africa
Volkswagen Group Taiwan
Volkswagen Group United Kingdom

Website| volkswagenag.com

The Volkswagen AG (German: [ˈfɔlksˌvaːgn̩] (listen)), known internationally as the Volkswagen Group, is a German multinational automotive manufacturing corporation headquartered in Wolfsburg, Lower Saxony, Germany, and since the late 2000s is a publicly-traded family business majority owned by Porsche SE, which in turn is half-owned but fully owned by the Austrian-German Porsche and Piëch family. It designs, manufactures, and distributes passenger and commercial vehicles, motorcycles, engines, and turbomachinery, and offers related services, including financing, leasing, and fleet management. In 2016, it was the world's largest automaker by sales, overtaking Toyota and keeping this title in 2017, 2018 and 2019, selling 10.9 million vehicles.[5] It has maintained the largest market share in Europe for over two decades.[6] It ranked seventh in the 2018 Fortune Global 500 list of the world's largest companies.[7]

The Volkswagen Group sells passenger cars under the Audi, Bentley, Bugatti, Lamborghini, Porsche, SEAT, Cupra, Ruf, Škoda and Volkswagen marques; light commercial vehicles under the Volkswagen Commercial Vehicles brand; motorcycles under the Ducati brand; and heavy commercial vehicles via the marques of listed subsidiary Traton: MAN, Scania, Volkswagen Caminhões e Ônibus, and Navistar. It is divided into two primary divisions—the Automotive Division and the Financial Services Division—and as of 2008, had about 342 subsidiary companies.[8] Volkswagen also has two major joint ventures in China (FAW-Volkswagen and SAIC Volkswagen). The company has operations in roughly 150 countries and operates 100 production facilities across 27 countries.

Volkswagen was founded in 1937, to manufacture the car that would become known as the Beetle. The company's production grew rapidly in the 1950s and 1960s, and 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 first acquired control of Škoda in 1994, then of Bentley, Lamborghini, and Bugatti in 1998, then of Ducati, MAN, and Porsche in 2012, and finally of Traton in 2013. The company's operations in China have grown rapidly in the past decade with the country becoming its largest market. Since 1 January 2021, the Lower Saxony state owns a 20% share of Volkswagen.

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 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.[9][10] The government of Lower Saxony holds 12.7% of the company's shares, granting it, by law, 20% of the voting rights.[11]

## Contents

* 1 History
* 1.1 1937 to 1945
* 1.2 1945 to 1970
* 1.3 1970 to 1999
* 1.4 2000 to present
* 1.4.1 Emissions scandal, 2015
* 1.4.2 Electrification strategy 2025
* 1.4.3 Production in Xinjiang
* 1.4.4 New Auto
* 2 Finances
* 3 Operations
* 3.1 Subsidiaries and brands
* 4 Corporate affairs
* 4.1 Ownership
* 4.2 Stock market listings
* 4.3 Leadership, sales and market share
* 5 Sponsorships
* 6 See also
* 7 Notes
* 8 References
* 8.1 Corporate documents
* 9 External links

## History[edit]

26 May 1938: Laying the foundation stone of the first Volkswagen plant by Adolf Hitler: In the front right is Ferdinand Porsche.

### 1937 to 1945[edit]

Volkswagen ('People's car' in German) was founded in Berlin 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 Deutsche Arbeitsfront (German Labour Front) and incorporated on 28 May 1937.[12][13][14] 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.[15] This vehicle was designed by Ferdinand Porsche's consulting firm, and the company was backed by the support of Adolf Hitler.[16] On 16 September 1938, Gezuvor was renamed Volkswagenwerk GmbH ('Volkswagen Factory LLC').[12]

Shortly after the factory near Fallersleben was completed, World War II started, and the plant primarily manufactured the military Kübelwagen (Porsche Type 82) and the related amphibious Schwimmwagen (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, making the plant a major bombing target for the Allied forces.

### 1945 to 1970[edit]

A 1951 Volkswagen Beetle

After the war in Europe, in June 1945, Major Ivan Hirst[15] of the British Army Royal Electrical and Mechanical Engineers (REME) took control of the bomb-shattered factory, and restarted production, pending the expected disposal of the plant as war reparations. However, no British car manufacturer was interested; "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."[17] In 1948, the Ford Motor Company 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."[18] Breech later said that he would have considered merging Ford of Germany 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, 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.[19] 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.

The Audi F103, in production from 1965 to 1972

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 in 1950, the Volkswagen Karmann Ghia in 1955, the Volkswagen Type 3 in 1961, the Volkswagen Type 4 in 1968, and the Volkswagen Type 181 in 1969.

In 1960, upon the flotation of part of the German federal government's stake in the company on the German stock market, its name became Volkswagenwerk Aktiengesellschaft (usually abbreviated to Volkswagenwerk AG).

On 1 January 1965, Volkswagenwerk acquired Auto Union GmbH from its parent company Daimler-Benz. The new subsidiary went on to produce the first post-war Audi models, the Audi F103 series, shortly afterwards.[20]

Another German manufacturer, NSU Motorenwerke AG, was merged into Auto Union on 26 August 1969, creating a new company, Audi NSU Auto Union AG (later renamed AUDI AG in 1985).[20]

### 1970 to 1999[edit]

A Volkswagen Golf Mk1 \- the Golf is the third-bestselling car of all-time, selling over 30 million up to 2013.

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.[21]

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.[20]

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%.[20]

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, accompanied with the acquisition of a 30% stake in the Czech car manufacturer on 16 April 1991.[20] 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%.[22]

Three prestige automotive marques were added to the Volkswagen portfolio in 1998: Bentley, Lamborghini, and Bugatti.[20]

### 2000 to present[edit]

The Škoda Superb B6, in production from 2008 to 2015

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.[20]

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,[23] 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[24][25] – 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.[26] 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 plant in 2012.[27]

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.[28][29][30] 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".[31][32] 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.[33] 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.[34]

Volkswagen AG completed the purchase of 19.9% of Suzuki Motor Corporation's issued shares on 15 January 2010.[35][36] Suzuki invested part of the amount received from Volkswagen into 1.49% percent of Volkswagen.[37] In 2011, Suzuki filed a lawsuit at an arbitration court in London requesting that Volkswagen return the 19.9% stake.[38]

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 house Italdesign Giugiaro.[39] In less than three months, the transaction had been completed making the Italian firm a member of the Volkswagen Group.[40] Since 2013 the Volkswagen Group has held a 89.7% stake in Traton.

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.[41][undue weight? - discuss]

On 3 August 2015, Nokia announced that it had reached a deal to sell its Here digital maps division to a consortium of three German automakers—BMW, Daimler AG, and Volkswagen Group, for €2.8 billion.[42] 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.[43] 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.[44]

#### Emissions scandal, 2015[edit]

Main article: Volkswagen emissions scandal

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.[45] 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.[46][47] The VW Group CEO, Martin Winterkorn, said he was "deeply sorry" and ordered an external investigation.[48] 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.[49] On Sunday, 20 September 2015, VW Group announced it was halting the sale of its four-cylinder diesel models in the US.[50] The US EPA press release on its Notice of Violation,[45] and the California Air Resources Board letter[51] 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.[52] On 23 September 2015, Martin Winterkorn announced his resignation from the CEO position after a crisis meeting of the company board.[53] On 25 September 2015 Matthias Müller was named CEO.[54] Müller was the head of the Porsche marque within the VW corporate umbrella.[55]

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.[56] In addition, the plea deal includes a $1.5 billion settlement for various environmental, customs and financial violations.[57]

Overall, Volkswagen will pay more than $30 billion in penalties and lawsuit settlements related to the scandal.[58]

#### Electrification strategy 2025[edit]

VW Group has invested in a wide-ranging electrification strategy in Europe, North America and China, with its electric "MEB" platform

In 2016, Volkswagen Group announced a corporate "Strategy 2025" that focuses on electrification of its portfolio.[59] The VW Group developed the Volkswagen Group MEB platform chassis that will be utilized in a range of various cars and light utility vehicles across several VW Group marques due to its flexibility and floor-mounted battery.[60]

As of May 2018, the VW Group has committed $48 billion in car battery supplies[61] and plans to outfit 16 factories to build electric cars by the end of 2022.[62] According to VW Group CEO Dr. Herbert Diess, the company will offer 25 electric models and 20 plug-in hybrids by 2020.[61]

#### Production in Xinjiang[edit]

Volkswagen Group came under pressure for cooperating with the Chinese government in the region of Xinjiang. In that same region, the Chinese government has been accused 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."[63] According to the Süddeutsche Zeitung, 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.[63] Other companies[which?] cut ties with China in the region after evidence emerged of human rights abuses. However, Volkswagen was still operating a plant in the region as of 2020.[64]

#### New Auto[edit]

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.[65][66] This involves creating the Scalable Systems Platform, as well as developing software under a new subsidiary called CARIAD.[65][66] Volkswagen Group aims by 2024 to transition to selling mostly electric cars.[67] It aims to have six battery factories in Europe by 2030.[67]

## Finances[edit]

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.[68]

Year  | Revenue
in bn. EUR€[69] | Net income
in bn. EUR€[70] | Employees[71]

|
|
|

1990  | 34.800  |  | 261,000
2000  | 81.840  | 2.610  | 322,000
2001  | 87.300  | 2.930  | 324,000
2002  | 85.293  | 2.597  | 324,000
2003  | 84.813  | 1.003  | 335,000
2004  | 88.963  | 0.697  | 343,000
2005  | 93.996  | 1.120  | 345,000
2006  | 104.875  | 2.750  | 324,900
2007  | 108.897  | 4.122  | 329,300
2008  | 113.808  | 4.688  | 369,900
2009  | 105.187  | 0.911  | 368,500
2010  | 126.875  | 7.226  | 399,400
2011  | 159.337  | 15.799  | 502,000
2012  | 192.676  | 21.884  | 550,000
2013  | 197.007  | 9.145  | 573,000
2014  | 202.458  | 11.068  | 593,000
2015  | 213.292  | −1.361  | 610,000
2016  | 217.267  | 5.379  | 627,000
2017  | 230.682  | 11.638  | 634,000
2018  | 235.849  | 13.920  | 656,000
2019  | 234.139  | 12.369  | 642,000
2020  | 210.681  | 7.876  | 663,000

## Operations[edit]

Part of the Volkswagen factory in Wolfsburg, Germany, its largest worldwide

Rooted in Europe, the Volkswagen Group operates in 153 countries.[72] Volkswagen Passenger Cars is the Group's original marque, and the other major subsidiaries include passenger car marques such as Audi, Bentley, Bugatti, Lamborghini, Porsche, SEAT, and Škoda. Volkswagen AG also has operations in commercial vehicles, owning Volkswagen Commercial Vehicles, along with controlling stakes in truck, bus and diesel engine manufacturers Scania AB and MAN SE.[73]

### Subsidiaries and brands[edit]

The Volkswagen Group comprises the following vehicle manufacturers and their corresponding brands:[note 1]

* Audi AG: 100% ownership[3] — The current company was formed through the acquisitions of Auto Union from Daimler-Benz on 30 December 1964, and NSU Motorenwerke on 9 March 1969 - Audi being the sole surviving marque from the Auto Union combine.
* Audi Sport GmbH — Audi's performance engineering and manufacturing subsidiary.[3]
* Automobili Lamborghini S.p.A.: 100% ownership[3] — acquired by AUDI AG in September 1998.[74]
* Ducati Motor Holding S.p.A.: 100% ownership[3] — bought on 19 July 2012.

Porsche headquarters in Stuttgart

* Bentley Motors Ltd: 100% ownership.[3] Volkswagen purchased Rolls-Royce & Bentley from Vickers on 28 July 1998,[74] however the purchase did not include the license to use the Rolls-Royce trademark on automobiles, which is controlled by Rolls-Royce Plc.[75] 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 and the Bentley division sold cars under both the Bentley and Rolls-Royce marques, under an agreement with BMW.
* Bugatti Automobiles S.A.S.: 100% ownership[3] — a wholly-owned subsidiary of Groupe VOLKSWAGEN France s.a.[76] Volkswagen acquired Bugatti International S.A. Holding in July 1998.[74]
* Dr. Ing. h.c. F. Porsche AG: 100% ownership — Volkswagen AG purchased 49.9% of the shares in Porsche Zwischenholding GmbH (the holding company of Porsche AG) in December 2009.[77] 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.[34]
* Jetta: Joint venture with First Automotive Works created in 2019.
* SEAT, S.A.: 100% ownership[3] — 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.[20]
* Cupra: 100% ownership by SEAT. In 2018, SEAT's motorsport division SEAT Sport was renamed Cupra Racing and at the same time, Cupra was launched as an independent brand alongside SEAT.
* Škoda Auto a.s.: 100% ownership[3] — initially in 1991 a co-operation agreement and 30% ownership;[20] 60.3% and 70% ownership in 1994 and 1995 respectively, 100% ownership since 2000[22]
* TRATON SE: 89.7% ownership — Formerly Volkswagen Truck and Bus, TRATON is the holding company for Volkswagen Group's heavy commercial vehicle operations.[78]
* MAN Truck & Bus SE: 100% ownership — Transferred to TRATON SE after it merged with MAN SE in August 2021.
* Navistar International Corporation: 100% ownership — 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 in July 2008, making Scania the 9th marque of the Volkswagen Group.[79]
* Volkswagen Caminhões e Ônibus: 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 Caminhões e Ônibus back into the group. Transferred to TRATON SE after it merged with MAN SE in August 2021.

The Volkswagen Commercial Vehicles assembly plant in Hannover, Germany

* Volkswagen Commercial Vehicles (German: Volkswagen Nutzfahrzeuge): 100% ownership[3] — 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.[3]

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 — the Auto Union company, together with NSU Motorenwerke AG (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)
* Horch
* NSU Motorenwerke AG (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 is still used for Audi assembly.
* Wanderer

Other subsidiaries and shareholdings:

* Italdesign Giugiaro S.p.A.: 100% ownership — 90.1% acquired via Lamborghini S.p.A. in May 2010. Remaining shares transferred in July 2015.
* MOIA: 100% ownership — new mobility services company.[80]
* MAN Energy Solutions: 100% ownership — the former power engineering division of MAN SE was purchased by Volkswagen AG effective from 1 January 2019.
* IAV: 50% ownership.
* Argo AI: 40% ownership — since June 2020.
* Diconium: 100% ownership — since January 2020

## Corporate affairs[edit]

### Ownership[edit]

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.[81] This law was supposed to protect Volkswagen Group from takeovers.[82] 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.[83]

On 26 March 2007, after the European Union 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.[84] On 16 September 2008, Porsche announced that the company had increased its stake in Volkswagen AG to 35 percent.[85] By October 2008, Porsche held 42.6 percent of Volkswagen AG's ordinary shares, and held stock options on another 31.5 percent.[86] thus, effectively holding over 74 percent; 42.6 percent actual shares, and the rest as convertible options.[87] 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.[88] The substantial investment in Volkswagen left Porsche with huge financial burden with its debts accumulating up to 13 billion euros by 2009.[89] Porsche would get emergency infusion of about a billion dollars from Volkswagen.[90] 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.[91]

As of 31 December 2020[update], share ownership of Volkswagen AG is distributed as follows:[92]

Subscribed capital:  | Percentage | Shareholder name

|

31.4% | Porsche Automobil Holding SE
25.9% | Foreign institutional investors
14.6% | Qatar Holding LLC
11.8% | State of Lower Saxony
12.9% | Private shareholders / Others
3.4% | German institutional investors
Voting rights:  | Percentage | Shareholder name

|

53.3% | Porsche Automobil Holding SE
20.0% | State of Lower Saxony
17.0% | Qatar Holding LLC
9.7% | Others

### Stock market listings[edit]

Volkswagen AG shares are primarily traded on the Frankfurt Stock Exchange,[93] 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,[93] Volkswagen AG shares are now separated into two different types or classes: 'ordinary shares' and 'preference shares'.[93] 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.[93]

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, Düsseldorf, Hamburg, Hanover, Munich and Stuttgart. International exchanges include those in Basel (listed in 1967), Geneva (1967), Zürich (1967), Luxembourg (1979), London (1988), and New York (1988).[93]

Since the start of trading in 1961, Volkswagen AG shares have been subjected to two stock splits – 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.[93]

From 23 December 2009, Volkswagen AG preferred shares replaced its ordinary shares in the DAX index.[94]

### Leadership, sales and market share[edit]

Volkswagen (mbH, GmbH, AG) leaders  Tenure | Leader(s)

|

1937 to 1946 | Bodo Lafferentz, Ferdinand Porsche, Jakob Werlin[95]
June 1945 to December 1947 | Ivan Hirst (Royal Electrical and Mechanical Engineers)[15]
1 January 1948 to April 1967 | Heinrich Nordhoff[96]
1 May 1968 to September 1971 | Kurt Lotz[96]
1 October 1971 to February 1975 | Rudolf Leiding[96]
10 February 1975 to December 1980 | Toni Schmücker[96]
1 January 1982 to December 1992 | Carl Hahn[96]
1 January 1993 to 16 April 2002 | Ferdinand K. Piëch[96]
16 April 2002 to 31 December 2006 | Bernd Pischetsrieder[96]
1 January 2007 to 23 September 2015 | Martin Winterkorn[96][97][98]
25 September 2015 to 12 April 2018 | Matthias Müller[99]
since 12 April 2018 | Herbert Diess[1]
Top 3 Automakers Global, 2018, by global volume[100] Group  | Units

|

Volkswagen  | 10,083,000
Renault-Nissan-Mitsubishi  | 10,076,000
Toyota  | 10,059,000

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.[101]

Top 3 Automakers EU27, 2013, new passenger car volume[102] Group  | Units  | share

|
|

Volkswagen  | 2,957,653  | 25.0
PSA  | 1,311,406  | 11.1
RENAULT  | 1,076,367  | 10.4

The European ranking of automakers is compiled monthly by the European Auto Manufacturers' Association ACEA.[102] Volkswagen has held the top spot in Europe uninterrupted for more than two decades.[103]

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.[100]

## Sponsorships[edit]

Volkswagen is heavily involved in sports sponsorship, with investments having included the 2008 Summer Olympics, the 2014 Winter Olympics,[104][105] as well as the David Beckham Academy. Volkswagen AG wholly owns the Bundesliga football side VfL Wolfsburg;[106] the company is also the shirt sponsor of Major League Soccer club D.C. United, League of Ireland Premier Division Sligo Rovers and top level of the Mexican football league system Liga MX team Puebla F.C.

## See also[edit]

* Germany portal
* Companies portal

* List of automobile manufacturers
* List of automobile manufacturers of Germany
* List of Volkswagen Group factories
* List of Volkswagen Group platforms
* Wolfsburg Volkswagen Plant

## Notes[edit]

1. ^ Volkswagen Truck and Bus are renamed to TRATON AG.

## References[edit]

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### Corporate documents[edit]

* "1937-1945 The Foundation of the Volkswagen Plant". Volkswagen Chronicle. Volkswagen Aktiengesellschaft. 2008. Archived from the original (PDF) on 8 August 2014. Retrieved 8 August 2012.
* "VOLKSWAGEN AKTIENGESELLSCHAFT Articles of Association As at August 2012" (PDF). volkswagenag.com. VOLKSWAGEN AKTIENGESELLSCHAFT. August 2012. Archived from the original (PDF) on 8 August 2014. Retrieved 15 August 2012.
* "Volkswagen Aktiengesellschaft Annual Report 2007" (PDF). volkswagenag.com. Volkswagen Aktiengesellschaft. 13 March 2007. ISSN 0944-9817. 858.809.505.20. Archived from the original (PDF) on 8 August 2014. Retrieved 8 August 2012.
* "Volkswagen Aktiengesellschaft Annual Report 2008" (PDF). volkswagenag.com. Volkswagen Aktiengesellschaft. 12 March 2009. ISSN 0944-9817. 958.809.512.20. Archived from the original (PDF) on 22 July 2012. Retrieved 8 August 2012.
* "Volkswagen Aktiengesellschaft Annual Report 2009" (PDF). volkswagenag.com. Volkswagen Aktiengesellschaft. 11 March 2010. ISSN 0944-9817. 058.809.522.20. Archived from the original (PDF) on 8 August 2014. Retrieved 8 August 2012.
* "Volkswagen Aktiengesellschaft Annual Report 2010" (PDF). volkswagenag.com. Volkswagen Aktiengesellschaft. 10 March 2011. ISSN 0944-9817. 158.809.527.20. Archived from the original (PDF) on 8 August 2014. Retrieved 8 August 2012.
* "Volkswagen Aktiengesellschaft Annual Report 2011" (PDF). volkswagenag.com. Volkswagen Aktiengesellschaft. 12 March 2012. ISSN 0944-9817. 258.809.536.00. Archived (PDF) from the original on 26 May 2012. Retrieved 8 August 2012.
* "Volkswagen Aktiengesellschaft Facts and Figures 2012" (PDF). volkswagenag.com. Volkswagen Aktiengesellschaft. 11 June 2012. 272.802.497.20. Archived from the original (PDF) on 2 October 2013. Retrieved 10 August 2012.
* "Volkswagen Group Production Plants". volkswagenag.com. Volkswagen Aktiengesellschaft. 31 December 2011. Archived from the original on 22 July 2012. Retrieved 8 August 2012.

## External links[edit]

| Wikimedia Commons has media related to Volkswagen Group.

|

* Official website
* Clippings about Volkswagen Group in the 20th Century Press Archives of the ZBW

* v
* t
* e

Volkswagen Group

Ownership|

* Porsche SE
* State of Lower Saxony
* Qatar Holding LLC
* Capital Group Companies

Divisions and
subsidiaries|

| Passenger cars|

* Audi
* Audi Sport
* Horch
* Lamborghini
* Bentley Motors
* Mulliner
* Bugatti
* Porsche
* SEAT
* Cupra
* Škoda
* Volkswagen
* VW R
* Sehol (JV with JAC)
* Jetta (JV with FAW)

|

Commercial vehicles|

* Traton
* MAN Truck & Bus
* Navistar International
* Scania
* Volkswagen Caminhões e Ônibus
* Volkswagen Commercial Vehicles

Motorcycles|

* Ducati

Engines|

* MAN Energy Solutions
* MWM International Motores

Services|

* Electrify America
* Electrify Canada
* Italdesign Giugiaro

Geographic|

* Škoda Auto Volkswagen India
* Volkswagen Group of America (Electronics Research Laboratory)
* Volkswagen Argentina
* Volkswagen do Brasil
* Volkswagen Group China
* Volkswagen de México
* Volkswagen Group Rus
* Volkswagen of South Africa

Shareholdings|

* Volkswagen (Anhui) (75%)
* SAIC Volkswagen (50%)
* FAW-Volkswagen (40%)
* Anhui Jianghuai Automobile Group Holdings (50%)
* IAV (50%)
* Here (33.3%)
* Argo AI (40%)
* Sinotruk (Hong Kong) (25%)
* Hino and Traton Global Procurement (51%)

Products and technologies|

* Platforms
* Vehicles

Engines|

* Diesel: current / discontinued
* Petrol: current / discontinued
* North America

Technologies|

* BlueMotion
* Digifant
* DSG
* ETKA
* FSI
* Pumpe Düse
* Quattro
* SDI
* TDI
* VAG-COM

Discontinued brands|

* Auto Union
* DKW
* Horch (Original)
* NSU
* Wanderer

Places|

* Autostadt
* Ehra-Lessien
* Factories

People|

* Ferdinand Porsche (founder)
* Carl Hahn (Chairman Emeritus)
* Ivan Hirst (Former Managing Director)
* Rudolf Leiding (Former CEO)
* Kurt Lotz (Former CEO)
* Heinrich Nordhoff (Former Managing Director)
* Ferdinand Piëch (Former Chairman of the Supervisory Board, former CEO)
* Bernd Pischetsrieder (Former CEO)
* Hans Dieter Pötsch (Chairman of the Supervisory Board)
* Toni Schmücker (Former CEO)
* Martin Winterkorn (Former Chairman of the Board of Management)
* Porsche Family (owner)

Motorsport|

* Teams: Rally Teams
* Series: Formula Vee
* Formula Super Vee
* Formula Volkswagen Germany
* Jetta TDI Cup
* Scirocco R Cup

Other|

* Volkswagen Emissions Scandal
* Volkswagen Currywurst

* Category

* v
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Automotive industry in Germany

* Automotive industry
* Economy of Germany
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Companies|

| Active
vehicle
producers|

* Apollo Automobil
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* Artega Automobile
* BMW
* BMW i
* BMW Motorrad
* Daimler AG
* Mercedes-Benz
* Setra/EvoBus
* Smart
* Maybach
* Elaris
* Krauss-Maffei Wegmann
* Isdera
* Lotec
* Rheinmetall
* RMMV
* Ruf Automobile
* Volkswagen Group
* Audi
* Horch
* MAN
* Neoplan
* RMMV
* Porsche
* Volkswagen
* Volkswagen Commercial Vehicles
* Wiesmann

| Foreign owned|

* Apollo Automobil
* Gumpert Aiways Automobile
* Borgward Group
* Ford of Europe
* Ford-Werke
* Iveco Magirus
* Opel
* Hyundai

|

Defunct
vehicle
producers|

* Adler
* Automobilwerk Eisenach
* Auto Union
* Baijah Automotive
* Beaufort
* Borgward
* Brennabor
* Brütsch
* Büssing
* DKW
* Edelsbrunner Automobile München
* Ehrhardt-Szawe
* Eisenacher Motorenwerk
* Fuldamobil
* Glas
* Goggomobil
* Goliath
* Gutbrod
* Hartge
* Hanomag
* Hansa
* Horch
* Kersting-Modellbauwerkstätten
* Kleinschnittger
* Kühlstein
* Loremo
* Markranstädter Automobilfabrik
* Melkus
* Maurer-Union
* Neue Automobil Gesellschaft
* North German Automobile and Engine
* NSU
* Protos of Nonnendamm
* Selve
* Simson
* Steiger
* Stoewer
* Tempo
* Veritas
* Wanderer
* Zündapp

Components|

* ATR
* Behr
* Bosch
* ETAS Group
* BBS
* Bühler Motor
* Continental
* Dräxlmaier Group
* Dürr AG
* Getrag
* Hella
* Hermann Peters
* HQM Sachsenring
* KSPG
* Löwe Automobil
* Mahle
* Mann+Hummel
* Petri
* Renk
* Schaeffler
* Voith
* ZF Friedrichshafen
* ZF Sachs

Motorsport
and
tuners|

* 9ff
* Abt Sportsline
* AC Schnitzer
* Schnitzer Motorsport
* Alpina
* APR
* Audi Sport
* AMG
* Bitter
* Brabus
* BMW M
* Carlsson
* Dinan Cars
* G-Power
* Gemballa
* Kleemann
* Lorinser
* Lotec
* Hamann Motorsport
* Hartge
* Hofele-Design
* HWA
* Irmscher
* Je Design
* Joest Racing
* Karosserie Baur
* Koenig Specials
* Mansory
* Melkus
* MK-Motorsport
* Motoren Technik Mayer
* Novitec Group
* Opel Performance Center
* PPI Automotive Design
* Renntech
* Rieger Tuning
* Rowe Racing
* Ruf Automobile
* Schubert Motorsport
* Singer Vehicle Design
* Startech
* CRD
* Steinmetz Opel Tuning
* Styling Garage
* Team Rosberg
* TechArt
* Zakspeed

Services|

* Daimler Mobility
* Mercedes-Benz Bank
* Sixt

Related topics|

* ADAC
* AMI Leipzig
* ASAM
* DTM
* Frankfurt Motor Show
* German Association of the Automotive Industry
* Nürburgring

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EURO STOXX 50 companies of the Euro Area

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