The Volkswagen Group
The Volkswagen Group, with its headquarters in Wolfsburg, is one of the world’s leading automobile manufacturers and the largest carmaker in Europe.
In 2020, the Covid-19 pandemic had a strong impact on business at the Volkswagen Group and its brands; this led to lower figures in terms of unit sales, sales revenue and profit throughout the Group. The Volkswagen Group delivered 9.3 million vehicles to customers worldwide in fiscal year 2020 (2019: 11.0 million). The global market share rose to 13.0 percent (2019: 12.9 percent). Group sales revenue in 2020 totaled € 222.9 billion (2019: € 252.6 billion), while earnings after tax amounted to € 8.8 billion (2019: € 14.0 billion).
The Group comprises ten brands from five European countries: Volkswagen, Volkswagen Commercial Vehicles, ŠKODA, SEAT, CUPRA, Audi, Lamborghini, Bentley, Porsche and Ducati. In addition, the Volkswagen Group offers a wide range of further brands and business units including financial services. Volkswagen Financial Services comprises dealer and customer financing, leasing, banking and insurance activities, and fleet management.
The Commercial Vehicles Business Area primarily comprises the development, production and sale of light commercial vehicles, trucks and buses from the Volkswagen Commercial Vehicles, Scania and MAN brands, the corresponding genuine parts business and services. The collaboration between the MAN and Scania commercial vehicle brands is coordinated within the TRATON GROUP. The commercial vehicles portfolio ranges from pickups to heavy trucks and buses. The Power Engineering segment combines the large-bore diesel engines, turbomachinery, special gear units, and propulsion components businesses. Until October 2020, it also included the Renk business.
In addition, the Volkswagen Group offers a wide range of financial services, including dealership and customer financing, leasing, banking and insurance activities, fleet management and mobility services.
The Group operates 117 production plants in 20 European countries and a further 10 countries in the Americas, Asia and Africa. 662,575 employees worldwide produce vehicles, and work in vehicle-related services or other fields of business. The Volkswagen Group sells its vehicles in 153 countries.
Under the vision "Mobility for generations to come." the Volkswagen Group with its sharpened NEW AUTO Group strategy 2030 provides answers to the challenges of today and tomorrow. Our goal is to sustainably shape mobility for present and future generations. Our promise: With electric drives, digital connectivity and autonomous driving, we are making automobiles cleaner, quieter, more intelligent and safer. At the same time, our core product becomes even more emotional and offers a completely new driving experience. In this way, the car can continue to be a cornerstone of contemporary, individual and affordable mobility in the future. In addition, we are committed to the Paris Agreement on climate protection and are one of the first companies in our industry to commit ourselves to becoming a carbon-neutral company by 2050. This includes our vehicles, plants and processes.
The Volkswagen Group consists of two divisions: the Automotive Division and the Financial Services Division. The Automotive Division comprises the Passenger Cars, Commercial Vehicles and Power Engineering business areas. Activities of the Automotive Division comprise in particular the development of vehicles and engines, the production and sale of passenger cars, light commercial vehicles, trucks, buses and motorcycles, as well as genuine parts, large-bore diesel engines, turbomachinery, special gear units, propulsion components and testing systems businesses. Mobility solutions are gradually being added to the range. The Ducati brand is allocated to the Audi brand and thus to the Passenger Cars Business Area. The activities of the Financial Services Division comprise dealer and customer financing, vehicle leasing, direct banking and insurance activities, fleet management and mobility offerings.