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: VOW )
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''Aus Liebe zum Automobil''<br>(For the Love of the Car)
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1937
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Wolfsburg , Germany
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Martin Winterkorn , Chairman
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344,902 ( 2005 )
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Auto And Truck Manufacturers
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Auto And Truck Manufacturers
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€ 104,875 Million ( 2006 )http://volkswagen-irde/English_version3370html
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€ 2,750 Million ( 2006 )
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€ 2,009 Million ( 2006 )
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Audi , Bentley , Bugatti , Lamborghini , SEAT , Škoda , Volkswagen
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(, ) 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. In 2006 the Volkswagen group sold 5.734 million automobiles claiming a 9.7% share of the world passenger car market.
Volkswagen's second-largest market is
China where its subsidiary,
Volkswagen Group China is by far the Second largest
Joint Venture automaker.
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 olks'''w'''agenwerk '''A'''ktien'''g'''esellschaft'' (''
Aktiengesellschaft '', abbreviated ''AG'', being equivalent to the English ''Corp
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 . Later that year Porsche further increase their ownership to 30.9%, forcing them to launch the mandatory takeover required by German law, however Porsche expects this takeover to fail. However, many commentators argued that this investment in VW fits well to
Porsche 's strategy.
The company owns eight automotive based brands.
These are the brands of Volkswagen AG:
Volkswagen is also the largest shareholder in
Scania AB with a capital stake of 20.03% and 35.31% of voting rights. Prior to the increase of the stake in March 2007 they held a capital stake of 16.5% and a voting stake of 33.4%.
On
October 4 ,
2006 , Volkswagen acquired a 15.1% stake in German truck maker
MAN AG , later increased to 29.9%, 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 three-way merger between MAN, Scania, 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.
On
26 January 2007 Malaysian news has announced
Volkswagen AG has signed an agreement to buy a 51% stake in
Proton 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. The deal still has yet to be finalised as of April 2007. And the Prime Minister of Malaysia said he won't for the Volkswagen chairman to meet him to discuss the '''possible strategic partnership''' with Proton.
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Institutional Investors in Volkswagen AG are:
- 32.4% Foreign institutional investors
- 27.7% Private shareholders / others
- 9.7% German institutional investors
