Total German car production was set at a maximum of 10% of the 1936 car production numbers.
The company has operations in approximately 150 countries and operates 100 production facilities across 27 countries. Volkswagen was founded in 1937, to manufacture the car which would become known as the Beetle.
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 ("People's car" in German) was founded on 28 May 1937 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).
On 16 September 1938, Gezuvor was renamed Volkswagenwerk GmbH ("Volkswagen Factory limited liability company"). 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.
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 ("People's car" in German) was founded on 28 May 1937 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).
The Fallersleben plant also manufactured the V-1 flying bomb, 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, and restarted production, pending the expected disposal of the plant as war reparations.
In 1948, the Ford Motor Company of USA was offered Volkswagen, but Ernest Breech, a Ford executive vice president said he didn't think either the plant or the car was "worth a damn".
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. 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's production grew rapidly in the 1950s and 1960s, and in 1965 it acquired Auto Union, which subsequently produced the first post-war Audi models.
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. 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.
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.
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 company's production grew rapidly in the 1950s and 1960s, and in 1965 it acquired Auto Union, which subsequently produced the first post-war Audi models.
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. 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.
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.
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.
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' and 'preference shares'.
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). 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 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.
The company's production grew rapidly in the 1950s and 1960s, and in 1965 it acquired Auto Union, which subsequently produced the first post-war Audi models.
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.
International exchanges include those in Basel (listed in 1967), Geneva (1967), Zürich (1967), Luxembourg (1979), London (1988), and New York (1988). 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.
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.
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. 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). ===1970 to 2000=== 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.
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.
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.
International exchanges include those in Basel (listed in 1967), Geneva (1967), Zürich (1967), Luxembourg (1979), London (1988), and New York (1988). 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.
Volkswagen launched a new generation of front-wheel drive vehicles in the 1970s, including the Passat, Polo and Golf; the last became its bestseller.
The Fallersleben plant also manufactured the V-1 flying bomb, 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, and restarted production, pending the expected disposal of the plant as war reparations.
The new subsidiary went on to produce the first post-war Audi models, the Audi F103 series, shortly afterwards. 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). ===1970 to 2000=== 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.
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.
100% ownership since 15 January 2015 - shares held via TRATON SE. 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.
The new subsidiary went on to produce the first post-war Audi models, the Audi F103 series, shortly afterwards. 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). ===1970 to 2000=== 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.
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.
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.
100% ownership since 15 January 2015 - shares held via TRATON SE. 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.
It has been traded in the United States via American depositary receipts since 1988, currently on the OTC Marketplace.
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.
100% ownership since 15 January 2015 - shares held via TRATON SE. 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.
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.
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.
The new subsidiary went on to produce the first post-war Audi models, the Audi F103 series, shortly afterwards. 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). ===1970 to 2000=== 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.
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.
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.
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.
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.
in September 1998. Bentley Motors Ltd: 100% ownership.
Volkswagen purchased Rolls-Royce & Bentley from Vickers 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.
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.
Holding in July 1998. Cupra: 100% ownership by SEAT.
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 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.
The new subsidiary went on to produce the first post-war Audi models, the Audi F103 series, shortly afterwards. 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). ===1970 to 2000=== 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.
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.
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.
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.
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 moved against the Volkswagen law, Porsche took its holding to 30.9 percent, triggering a takeover bid under German law.
It is divided into two primary divisions—the Automotive Division and the Financial Services Division—and as of 2008 had approximately 342 subsidiary companies.
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.
94.36% ownership via TRATON SE since March 2019. MAN Truck & Bus SE: 100% ownership by MAN SE. Scania AB: Acquired controlling stake in July 2008, making Scania the 9th marque of the Volkswagen Group.
Sold by Volkswagen Group to MAN SE in December 2008 and from that point also known as MAN Latin America.
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, and held stock options on another 31.5 percent.
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. ==Sponsorships== Volkswagen 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.
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. In December 2009, Volkswagen AG bought a 49.9% stake in Dr.
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.
Suzuki had wished to buy Fiat diesel engines. ====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 2009-15.
Volkswagen AG purchased 49.9% of the shares in Porsche Zwischenholding GmbH (the holding company of Porsche AG) in December 2009.
The substantial investment in Volkswagen left Porsche with huge financial burden with its debts accumulating up to 13 billion euros by 2009.
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 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.
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.
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".
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. Ducati Motor Holding S.p.A.: 100% ownership by Automobili Lamborghini S.p.A.; company was bought on 19 July 2012. Jetta: Joint venture with First Automotive Works created in 2019. MAN SE (controlling shareholder) Acquired a controlling stake in July 2011, making MAN the 10th marque of the Volkswagen Group.
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.
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. In December 2009, Volkswagen AG bought a 49.9% stake in Dr.
On 4 July 2012 Volkswagen group announced they would wrap up the remaining half of Porsche shares for 4.46 billion euros ($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.
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. Ducati Motor Holding S.p.A.: 100% ownership by Automobili Lamborghini S.p.A.; company was bought on 19 July 2012. Jetta: Joint venture with First Automotive Works created in 2019. MAN SE (controlling shareholder) Acquired a controlling stake in July 2011, making MAN the 10th marque of the Volkswagen Group.
In July 2012, Volkswagen completed takeover of Porsche ending the 4 year saga and formed an integrated automotive group with Porsche.
Volkswagen delisted from the London Stock Exchange in 2013.
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.
On 4 July 2012 Volkswagen group announced they would wrap up the remaining half of Porsche shares for 4.46 billion euros ($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 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. ==Sponsorships== Volkswagen 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 spent two years trying to keep the research from the public domain. 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.
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.
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. ====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 2009-15.
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.
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.
100% ownership since 15 January 2015 - shares held via TRATON SE. 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.
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.
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.
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.
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.
Müller was the head of the Porsche marque within the VW corporate umbrella. On 21 April 2017, a U.S.
The "unprecedented" plea deal formalized a punishment that Volkswagen AG agreed to earlier in 2017.
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.
It ranked seventh in the 2018 Fortune Global 500 list of the world's largest companies.
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. As of May 2018, the VW Group has committed $48 billion in car battery supplies and plans to outfit 16 factories to build electric cars by the end of 2022.
However, Volkswagen was still operating a plant in the region as of 2020. == Finances == For the fiscal year 2018, Volkswagen reported earnings of EUR€13.920 billion, with an annual revenue of EUR€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.
SEAT's motorsport division SEAT Sport was renamed CUPRA in 2018 and launched as an independent brand alongside SEAT. Dr.
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 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. ==Sponsorships== Volkswagen 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.
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.
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. Ducati Motor Holding S.p.A.: 100% ownership by Automobili Lamborghini S.p.A.; company was bought on 19 July 2012. Jetta: Joint venture with First Automotive Works created in 2019. MAN SE (controlling shareholder) Acquired a controlling stake in July 2011, making MAN the 10th marque of the Volkswagen Group.
94.36% ownership via TRATON SE since March 2019. MAN Truck & Bus SE: 100% ownership by MAN SE. Scania AB: Acquired controlling stake in July 2008, making Scania the 9th marque of the Volkswagen Group.
Herbert Diess, 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.
However, Volkswagen was still operating a plant in the region as of 2020. == Finances == For the fiscal year 2018, Volkswagen reported earnings of EUR€13.920 billion, with an annual revenue of EUR€235.849 billion, an increase of 2.2% over the previous fiscal cycle.
In 2021, Volkswagen Group is the first largest German automaker and the fourth-largest worldwide by production. The Volkswagen Group sells passenger cars under the Audi, Bentley, Bugatti, Lamborghini, Porsche, SEAT, 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, and Volkswagen Caminhões e Ônibus.
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