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Brands and Business Fields

Successful performance amid difficult conditions

GROUP STRUCTURE

As of August 1, 2012, Porsche SE’s operating automotive business was contributed in full to the Volkswagen Group. Since then, Porsche has been consolidated in the Group as another successful brand. AUDI AG acquired Italian sports motorcycle manufacturer Ducati as of July 19, 2012. Ducati is a well-known international manufacturer of premium motorcycles.

The Volkswagen Group consists of two divisions: the Automotive Division and the Financial Services Division. The Automotive Division, in turn, comprises two business areas: “Passenger Cars and Light Commercial Vehicles” and “Trucks and Buses, Power Engineering”. The Passenger Cars and Light Commercial Vehicles segment and the reconciliation are combined to form the Passenger Cars and Light Commercial Vehicles Business Area. We report on the Trucks and Buses and Power Engineering segments under the Trucks and Buses, Power Engineering Business Area. The activities of the Automotive Division are centered on the development of vehicles and engines, the production and sale of passenger cars, commercial vehicles, trucks and buses, as well as the genuine parts, large-bore diesel engines, turbomachinery, special gear units, propulsion components and testing systems businesses. The acquisition of Ducati has expanded this to include motorcycles. The Financial Services Division, which corresponds to the Financial Services segment, combines dealer and customer financing, leasing, banking and insurance activities, fleet management and mobility offerings.

In this chapter, we present the key volume and financial data relating to the Group brands and to Volkswagen Financial Services. Owing to the ongoing positive development of our business in China and the continuing growth in the importance of the Chinese market, we also report on business developments and the results of our activities in China in this chapter.

The production figures and deliveries to customers are presented by product line. Unit sales figures refer to models sold by the various brand companies, including vehicles of other Group brands. There are sometimes marked differences between delivery figures and unit sales as a result of the positive growth of our business in China.

In addition, we explain unit sales and sales revenue in our markets: Europe/Remaining markets, North America, South America and Asia-Pacific.

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VOLKSWAGEN GROUP

 

 

Division

 

Automotive

 

Financial Services

 

 

 

 

 

Brand/
Business Field

 

Volkswagen Passenger Cars

 

Audi

 

ŠKODA

 

SEAT

 

Bentley

 

Dealer and customer financing
Leasing
Direct bank
Insurance
Fleet business
Mobility offerings

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Porsche

 

Volkswagen Commercial Vehicles

 

Scania

 

MAN

 

Other

 

KEY FIGURES BY MARKET

The Volkswagen Group turned in a positive performance in fiscal year 2012 despite difficult conditions, increasing unit sales by 11.8% year-on-year to 9.3 million vehicles. Sales revenue rose by 20.9% to €192.7 billion.

In the Europe/Remaining markets region, Group unit sales increased by 2.8% to 4.2 million vehicles in the reporting period. Sales revenue increased by 11.1% to €115.4 billion, primarily due to volume-related factors and the consolidation of Porsche and MAN.

With an increase of 32.2% to 0.9 million units, the Group again outperformed the market as a whole in North America. Volume improvements, the integration of Porsche and favorable exchange rates lifted sales revenue by 42.7% to €25.0 billion.

In South America, sales rose by 13.9% to 1.1 million vehicles. As a result of volume-related and exchange rate factors, sales revenue was up 22.8% to €18.3 billion. The inclusion in full of MAN as from November 9, 2011 should be taken into account when comparing the previous year’s figures.

Demand for Group models remained strong on the markets in the Asia-Pacific region. Including the Chinese joint ventures, we sold a total of 3.2 million vehicles in this area in the period from January to December 2012, 19.5% more than in 2011. Sales revenue rose by a disproportionately high 47.7% to €33.9 billion, mainly due to positive mix and exchange rate effects. These figures do not include the sales revenue generated by our Chinese joint ventures, since these are accounted for using the equity method.

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KEY FIGURES BY BRAND AND BUSINESS FIELD1

 

 

Vehicle sales

 

Sales revenue

 

Sales to third parties

 

Operating profit

thousand
vehicles/
€ million

 

2012

 

2011

 

2012

 

2011

 

2012

 

2011

 

2012

 

2011

1

All figures shown are rounded, so minor discrepancies may arise from addition of these amounts.

2

Including financial services; Porsche as from August 1, 2012; MAN as from November 9, 2011.

3

The sales revenue and operating profit of the joint venture companies in China are not included in the figures for the Group. The Chinese companies are accounted for using the equity method and recorded an operating profit (proportionate) of €3,678 million (€2,616 million).

4

Including Porsche Holding Salzburg as from March 1, 2011.

5

Mainly intragroup items recognized in profit or loss, in particular from the elimination of intercompany profits; the figure includes depreciation and amortization of identifiable assets as part of the purchase price allocation for Scania, Porsche Holding Salzburg, MAN and Porsche.

Volkswagen Passenger Cars

 

4,850

 

4,450

 

103,942

 

94,690

 

77,110

 

71,504

 

3,640

 

3,796

Audi

 

1,299

 

1,543

 

48,771

 

44,096

 

33,461

 

30,496

 

5,380

 

5,348

ŠKODA

 

727

 

690

 

10,438

 

10,266

 

5,633

 

6,212

 

712

 

743

SEAT

 

429

 

362

 

6,485

 

5,393

 

2,785

 

3,284

 

–156

 

–225

Bentley

 

9

 

7

 

1,453

 

1,119

 

1,274

 

1,060

 

100

 

8

Porsche2

 

62

 

 

5,879

 

 

5,442

 

 

946

 

Volkswagen Commercial Vehicles

 

437

 

441

 

9,450

 

8,985

 

4,920

 

5,199

 

421

 

449

Scania2

 

67

 

80

 

9,314

 

10,064

 

9,314

 

10,064

 

930

 

1,372

MAN2

 

134

 

25

 

15,999

 

2,652

 

15,900

 

2,652

 

808

 

193

VW China3

 

2,609

 

2,201

 

 

 

 

 

 

Other4

 

–1,279

 

–1,438

 

–36,929

 

–33,768

 

20,516

 

14,474

 

–2,6825

 

–1,6175

Volkswagen Financial Services

 

 

 

17,872

 

15,840

 

16,322

 

14,392

 

1,410

 

1,203

Volkswagen Group

 

9,345

 

8,361

 

192,676

 

159,337

 

192,676

 

159,337

 

11,510

 

11,271

Automotive Division

 

9,345

 

8,361

 

172,822

 

142,092

 

174,525

 

143,620

 

9,923

 

9,973

of which: Passenger Cars and Light Commercial Vehicles Business Area

 

9,143

 

8,256

 

148,021

 

129,706

 

150,042

 

131,428

 

9,405

 

9,042

Trucks and Buses, Power Engineering Business Area

 

202

 

105

 

24,801

 

12,386

 

24,483

 

12,192

 

519

 

931

Financial Services Division

 

 

 

19,854

 

17,244

 

18,151

 

15,717

 

1,586

 

1,298

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KEY FIGURES BY MARKET

 

 

Vehicle sales1

 

Sales revenue

1

All figures shown are rounded, so minor discrepancies may arise from addition of these amounts.

2

The sales revenue of the joint venture companies in China is not included in the figures for the Group and the Asia-Pacific market.

thousand vehicles/€ million

 

2012

 

2011

 

2012

 

2011

Europe/Remaining markets

 

4,179

 

4,066

 

115,384

 

103,890

North America

 

896

 

678

 

25,046

 

17,553

South America

 

1,075

 

943

 

18,311

 

14,910

Asia-Pacific2

 

3,194

 

2,674

 

33,936

 

22,983

Volkswagen Group2

 

9,345

 

8,361

 

192,676

 

159,337

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