Volkswagen Group

From Simple English Wikipedia, the free encyclopedia
Volkswagen AG
Company typePublic (AG)
FWBVOW, Template:FWB link
DAX component (VOW3)
Founded28 May 1937; 86 years ago (1937-05-28), in Berlin, Germany
FounderGerman Labour Front
Number of locations
100 production facilities across 27 countries
Area served
Key people
Hans Dieter Pötsch (Chairman of the Supervisory Board)[1]
Oliver Blume (Chairman of the Board of Management)[2][3]
ProductsAutomobiles, commercial vehicles, internal combustion engines, motorcycles, turbomachinery
Production output
Decrease 8,283,000 (2021)[4]
Brands Bugatti
ServicesBanking, financing, fleet management, insurance, leasing[6]
RevenueIncrease 250.200 billion (2021)[4]
Increase €20.126 billion (2021)[4]
Increase €15.428 billion (2021)[4]
Total assetsIncrease €528.609 billion (2021)[4]
Total equityIncrease €144.449 billion (2021)[4]
  • Porsche SE: 31.4% of equity, 53.3% of votes (as of 31 December 2021)[4]
  • State of Lower Saxony: 11.8% of equity, 20% of votes (as of 31 December 2021)[4]
  • QIA: 10.5% of equity, 17% of votes (as of 31 December 2021)[4]
Number of employees
Increase 667,647 employees (average during 2021)[4]
Financial services:
  • Lamborghini Financial Services
    Bentley Financial Services
    Volkswagen Financial Services AG
    Volkswagen Leasing GmbH
    Porsche Financial Services
    Volkswagen Immobilien
  • Volkswagen Group Fleet International
    Volkswagen Group Supply
    Volkswagen Air Service
  • Volkswagen Industrial Motor

Volkswagen (German pronunciation: [ˈfɔlksˌvaːɡn̩] (listen)),[Note 1] abbreviated as VW ([faʊˈveː] (listen)), is a German motor vehicle manufacturer headquartered in Wolfsburg, Lower Saxony, Germany. Founded in 1937 by the German Labour Front under the Nazi Party and revived into a global brand post-World War II by the British Army Officer Ivan Hirst, it is known for the iconic Beetle and serves as the flagship brand of the Volkswagen Group, the largest automotive manufacturer by worldwide sales in 2016 and 2017.[2] The group's biggest market is in China, which delivers 40 percent of its sales and profits.[3][4] Its name is derived from the German-language terms Volk and Wagen, translating to "people's car" when combined.

References[change | change source]

  1. "Extensive revision of Volkswagen Group management structure decided". Volkswagen Media Services. Archived from the original on 13 April 2018. Retrieved 12 April 2018.
  2. "Oliver Blume follows Herbert Diess as Chairman of the Board of Management of the Volkswagen Group". Volkswagen News. 22 July 2022. Archived from the original on 1 September 2022. Retrieved 1 September 2022.
  3. ""Team spirit, fairness and passion are key"". Volkswagen News. 1 September 2022. Archived from the original on 15 October 2022. Retrieved 1 September 2022.
  4. 4.00 4.01 4.02 4.03 4.04 4.05 4.06 4.07 4.08 4.09 "Full Speed Ahead To The Future. 2021 Annual Report" (PDF). Volkswagen Group. 15 March 2022. Retrieved 15 March 2022.
  5. 5.0 5.1 Volkswagen AG 2012, pp. U60–U73.
  6. Volkswagen AG 2012, p. 110.