Volkswagen Group

Volkswagen AG

Headquarters in Wolfsburg, Germany
Company type	Public
Traded as	FWB: VOW, FWB: VOW3 DAX component (VOW3)
ISIN	DE0007664005
Industry	Manufacturing
Founded	28 May 1937; 87 years ago (1937-05-28), in Berlin, Germany
Founder	German Labour Front
Headquarters	Wolfsburg, Lower Saxony , 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]
Products	Automobiles, commercial vehicles, internal combustion engines, motorcycles, turbomachinery
Production output	9,030,000 (2024)[4]
Brands	Automotive:[5] Audi Bentley Cupra Ducati Lamborghini Porsche SEAT Škoda Volkswagen Cars Scout Commercial: IC Bus International Motors MAN Truck & Bus Scania VW Commercial Vehicles VW Truck & Bus Design: Italdesign Giugiaro
Services	Banking, financing, fleet management, insurance, leasing[6]
Revenue	€322.2840 billion (2023)
Operating income	€21.586 billion (2023)
Net income	€16.013 billion (2023)
Total assets	€630.826 billion (2023)
Total equity	€174.757 billion (2023)
Owners	Porsche SE: 31.4% of equity, 53.3% of votes (as of 31 December 2021[update])[4] State of Lower Saxony: 11.8% of equity, 20% of votes (as of 31 December 2021[update])[4] QIA: 10.5% of equity, 17% of votes (as of 31 December 2021[update])[4]
Number of employees	667,647 employees (average during 2021)[4]
Subsidiaries	Transportation:[5] 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 Japan Volkswagen Group India Volkswagen Group of America Volkswagen Argentina Volkswagen Australia Volkswagen Group Canada Volkswagen Group Malaysia Volkswagen de México Volkswagen do Brasil Volkswagen Group Ireland Volkswagen Group Italia Volkswagen of South Africa Volkswagen Group Taiwan Volkswagen Group United Kingdom Audi
Website	volkswagen-group.com

Volkswagen AG (German: [ˈfɔlksˌvaːɡn̩] ^ⓘ), 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.^[7][8] 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.^[9] It has maintained the largest market share in Europe for over two decades.^[10] It ranked seventh in the 2020 Fortune Global 500 list of the world's largest companies.^[11] In 2023, Volkswagen Group was the largest company in the European Union and the largest car manufacturer in the world by revenue.^[12]

The Volkswagen Group sells passenger cars under the Audi, Bentley, 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 (International Motors, MAN, Scania and Volkswagen Truck & Bus).^[13] Software and techstack under CARIAD. It is divided into two primary divisions: the Automotive Division and the Financial Services Division. As of 2008, it had about 342 subsidiary companies.^[14] 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 latter 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.

In 2015, Volkswagen was discovered to have used defeat devices to deceive environmental regulators about how much NO_x its cars were emitting. The company was fined billions of dollars.

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.^[15][16] The government of Lower Saxony holds 12.7% of the company's shares, granting it, by law, 20% of the voting rights.^[17]