Volkswagenwerk GmbH becomes "Volkswagenwerk Aktiengesellschaft" on 22 August 1960. The German Federal Parliament had previously approved, by a large majority, the "Law on the transfer of shares in Volkswagenwerk Gesellschaft mit beschränkter Haftung to private ownership". In accordance with the Volkswagen-act, that was issued on 21 July 1960, 60 % of the capital is sold to the public, while 40 % remains in the hands of the Federal and Land governments. The partial privatization of Volkswagenwerk creates a new public stock in the Federal Republic of Germany. By 15 March 1961, Volkswagen shares with a total nominal value of DM 360 million are issued at a price of DM 350 each. The annual general meeting of stockholders adopted a resolution to change the company name from "Volkswagenwerk AG" to "VOLKSWAGEN AG" on 4 July 1985.
The establishment of "Volkswagen de Mexico, S.A. de C.V." means Volkswagens are not just assembled from imported parts in Mexico, but they are actually manufactured there as of 17 January 1964. With its new production facility in Puebla, Volkswagen de Mexico achieves a market share of 21.8 % in 1968.
The Daimler-Benz subsidiary "Auto Union GmbH" with its headquarters in Ingolstadt is purchased by Volkswagenwerk AG on 1 January 1965. The Volkswagen Group enters the upper market segment by taking over a brand that enjoys both tradition and is known for innovation. Auto Union is integrated into the Group as an independent subsidiary. "Auto Union GmbH" is merged with "NSU Motorenwerke AG" to become "Audi NSU Auto Union AG" on 21 August 1969. The company is renamed "Audi AG" on 1 January 1985.
To consolidate its competitive position on the Swedish market in 1968 "Svenska Volkswagen AB" is founded in Södertälje in cooperation with the general importer "AB Scania Vabis". This is the beginning of a new Group marketing strategy - Group companies assume responsibility for wholesale distribution in all important European markets.
By acquiring Selbstfahrer-Union, the largest car rental agency in Germany, the Volkswagen Group reinforces its commitment to an up-and-coming new business in March 1970. The subsidiary, renamed "interRent Autovermietung GmbH", is merged in 1988 with Europcar to form "Europcar International S.A.". Volkswagen initally holds 50 % of the shares. The rest of the shares in Europcar Group are acquired by Volkswagen on 1 January 2000.
The founding of "Volkswagen Bruxelles S.A." in 1971 means that the Volkswagenwerk AG assumes responsibility for both import and production of Volkswagen in Belgium .
Volkswagen becomes the 'world's champion' manufacturer on 17 February 1972: with 15,007,034 assembled cars. The Beetle breaks the legendary production record of the "Tin Lizzy", as the Model T, built from 1908 to 1927 by the Ford Motor Company, was popularly known.
The Passat is produced in May 1973 as the first model in the new Volkswagen generation - with front-wheel drive, water-cooled four-cylinder engine, overhead camshafts, all-steel unitized body and various engines ranging in output from 55 hp to 110 hp.
The Passat is closely related to the Audi 80 in its technical design; its modular design creates considerable potential for rationalization thanks to standardized components which can be used in various models.
In Wolfsburg, production of the Golf begins in January 1974. The compact sedan quickly becomes a sales hit and is regarded as the legitimate successor to the legendary Beetle.
