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 |
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Division |
Automotive |
Financial Services | ||||||||||
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Brand/ |
Volkswagen Passenger Cars |
Audi |
ŠKODA |
SEAT |
Bentley |
Dealer and customer financing | ||||||
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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 |
2012 |
2011 |
2012 |
2011 |
2012 |
2011 |
2012 |
2011 | ||||||||||||||||||
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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 | ||||||||||
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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 |