Volkswagen Group
Portrait of the Company
The Volkswagen Group, with its headquarters in Wolfsburg, is one of the world’s leading automobile manufacturers and the largest carmaker in Europe.
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.
Current Results
In 2021, the Covid-19 pandemic and semiconductor shortage had a strong impact on business at the Volkswagen Group and its brands. Volkswagen Group delivered 8.6 million vehicles to customers worldwide in fiscal year 2021 (2020: 9.2 million).
The Group’s sales revenue increased by 12.3% to €250.2 billion (€222.9 billion in 2020).
Group Strategy
With its “NEW AUTO - Mobility for Generations to Come” Group strategy and future program, the Volkswagen Group is paving the way for the biggest change process in its history: the realignment of one of the best carmakers to become a globally leading provider of sustainable mobility. To achieve that, the Group will be transforming its automotive core business, and will among other things be launching a further 30-plus fully electric cars by 2025, as well as expanding battery technology and autonomous driving as new core competences.
The Strategy provides answers to the challenges of today and tomorrow. With electric drives, digital connectivity and autonomous driving, Volkswagen Group is making automobiles cleaner, quieter, more intelligent and safer. At the same time, the 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, Volkswagen Group is committed to the Paris Agreement on climate protection and are one of the first companies in the industry to commit itself to becoming a carbon-neutral company by 2050. This includes vehicles, plants and processes.
Learn more about NEW AUTOVolkswagen Group Brands
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