Volkswagen Group
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| Volkswagen Group | |
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| Type | Public (ISIN: DE0007664005, Xetra: VOW) (FWB: VOW) |
|---|---|
| Founded | 1937 |
| Headquarters | Wolfsburg, Germany |
| Key people | Martin Winterkorn, Chairman |
| Industry | Auto and Truck Manufacturers |
| Products | Auto and Truck Manufacturers |
| Revenue |  €95.268 billion (2005) |
| Operating income | € ? billion (2005) |
| Net income | €3.143 billion (2005) |
| Employees | 344,902 (2005) |
| Subsidiaries | Audi, Bentley, Bugatti, Lamborghini, SEAT, Škoda, Volkswagen |
| Slogan | Aus Liebe zum Automobil (For the Love of the Car) |
| Website | Volkswagen International |
Volkswagen Group (ISIN: DE0007664005, TYO: 7659 ) is a German automobile manufacturer and one of the largest automotive companies worldwide. Its core market is the European Union and its major subsidiaries include well-known brands like Audi, Bentley, Škoda, Lamborghini, Bugatti, SEAT and the brand Volkswagen itself.
Volkswagen's second-largest market is China where its subsidiary, Volkswagen Group China is by far the Second largest Joint venture automaker.
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[edit] History
VW was founded in 1937 as a public concern by the then Nazi government to sell the Volkswagen Beetle. After the Second World War in 1945, the British Army took control of the bomb-shattered factory and restarted Beetle production for the difficult post-war years which Germany had to face. In 1948, the British Government handed the company back over to the German state, where it was managed by ex-Opel chief Heinrich Nordhoff.
In 1960, upon the floatation of part of the German federal government's stake in the company on the German stock market, its name became Volkswagenwerk Aktiengesellschaft (Aktiengesellschaft, abbreviated AG, being equivalent to the English Corp[oration] or American Inc[orporated]). The name was changed to VOLKSWAGEN AG on 4 July 1985, to reflect the company's increasing global diversification from its headquarters and main plant, the Volkswagenwerk in Wolfsburg, Germany. The corporation now goes by that name or occasionally 'Volkswagen Group' in non-German speaking markets, and is currently the fourth largest car-manufacturer in the world. In 2005 VW sold more than 5.2 million vehicles, which equals a 9.1 share of the world market.
In October 2005, Porsche acquired an 18.53% stake in the business. In July 2006, Porsche increased their ownership to more than 25%. Press reports presume this was done to prevent a foreign takeover.[citation needed] Later that year Porsche further increase their ownership to 28%. However, many commentators argued that this investment fits well to Porsche's strategy.[citation needed]
[edit] Leadership
- 1945-1948 — Ivan Hirst
- 1948-1967 — Heinrich Nordhoff
- 1968-1971 — Kurt Lotz
- 1971-1975 — Rudolf Leiding
- 1975-1982 — Toni Schmucker
- 1982-1993 — Carl Hahn
- 1993-2002 — Ferdinand Piëch
- April 16, 2002 - December 31, 2006 — Bernd Pischetsrieder
- January 1, 2007 - present — Martin Winterkorn
[edit] Brands
The company owns eight active automotive based brands.
- Audi (D)
- Bentley (GB)
- Bugatti (F)
- Lamborghini (I)
- SEAT (ES)
- Škoda (CZ)
- Volkswagen (D)
- Volkswagen Commercial Vehicles (D)
These are the inactive brands of Volkswagen AG:
- Auto Union (although the Auto Union badge is still used on all Audi models)
- DKW
- Horch
- NSU
- Wanderer
[edit] Proton Investment
On 26 January 2007 Malaysian news has announced Volkswagen AG has signed an agreement to buy a 51% stake in Proton (company) Auto Division. It was later discovered that this had not occurred and discussions between Proton and Volkswagen are continuing. Proton is also in discussions with General Motors Corp. It is expected that Proton's foreign partner will be announced before the end of the month of April.
[edit] Heavy Truck Investments
Volkswagen is also the largest shareholder in Scania AB with a capital stake of 16.5% and a voting stake of 33.4%. In March 2007, Volkswagen increased this holding to 20.03% capital stake and a 35.31% voting rights.
On October 4, 2006, Volkswagen acquired a 15.1% stake in German truck maker MAN AG, later increased to 20%, who had launched an offer to acquire Scania (which was eventually withdrawn). Previous Volkswagen CEO Bernd Pischetsrieder, and his successor Prof. Dr. Martin Winterkorn, plan to organise a merger between MAN and Scania and VW's own Brazilian heavy truck division and possibly their Light truck and van division as well. Due to VW's stakes in MAN and Scania, it is expected that VW will have a blocking minority stake of at least 25.1% in the merged entity.
[edit] Investors
Institutional Investors in Volkswagen AG are:
- 32.4% Foreign institutional investors
- 27.7% Private shareholders / others
- 27.4% Dr. Ing. h.c. F. Porsche AG(who intend on increasing this stake to 29.9%)
- 14.9% State of Niedersachsen (Lower Saxony)
- 9.7% German institutional investors
[edit] See also
[edit] External links
- Volkswagen AG Corporate
- Volkswagen AG Investor Relations
- Audi USA
- Bentley English
- Bugatti English
- Lamborghini English
- SEAT Global (in English)
- Škoda Global (in English)
- Volkswagen USA
- French fans website on Volkswagen AG
- Russian Auto Hand Made
- Official Porsche Website
