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Annual Report

Brands and Business Fields

Strong demand for Volkswagen Group vehicles and financial services worldwide

GROUP STRUCTURE

The Volkswagen Group consists of two divisions: the Automotive Division and the Financial Services Division. 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, and the genuine parts business. The Financial Services Division’s portfolio of services combines dealer and customer financing, leasing, banking and insurance activities, and fleet management.

In this chapter, we present the key volume and financial data relating to the Group brands and to Volkswagen Financial Services. Owing to the continued positive development of business in China and the growing importance of the Chinese market, we have included a description of the business development and performance of our involvement in China in this chapter for the first time.

The production figures and deliveries to customers are presented by product line. Unit sales figures refer to models sold by each brand company, including vehicles of other Group brands. Given the positive growth of our business in China, there are sometimes marked differences between delivery figures and unit sales.

In addition, we explain the 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 Division

 

Financial Services

 

 

 

 

 

Brand/Business Field

 

Volkswagen Passenger Cars

 

Audi

 

Škoda

 

SEAT

 

Bentley

 

Volkswagen Commercial Vehicles

 

Scania

 

Other

 

Dealer and customer financing Leasing Directbank Insurance Fleet business

KEY FIGURES BY MARKET

Due to the positive development of business in 2010, Volkswagen Group unit sales increased 15.4% year-on-year to 7.3 million vehicles. Sales revenue was up by 20.6% to €126.9 billion.

Group unit sales in the Europe/Remaining markets region increased by 6.0% to 3.6 million vehicles in the reporting period. At €83.8 billion, sales revenue rose by 11.4% year-on-year.

In the North American passenger car market, unit sales of Group vehicles was 0.6 million; the 22.8% rise was far greater than that of the market as a whole. Sales revenue improved by 33.3% to €15.2 billion. In addition to the higher volume, exchange rate effects had a positive effect.

In South America, we sold 0.9 million units, exceeding the previous year’s figure by 9.7%. Sales revenue increased by 40.2% to €13.5 billion due to volume and exchange rate-related factors.

Demand for Group models in some of the passenger car markets of the Asia-Pacific region increased substantially year-on-year. Including the Chinese joint ventures, we sold a total of 2.2 million vehicles in this region in the year under review, an increase of 36.2% compared with fiscal year 2009. At €14.4 billion, sales revenue was 60.4% higher than in the previous year. This figure does not include the sales revenue of our joint ventures in China, as 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 result

thousand vehicles/ € million

 

2010

 

2009

 

2010

 

2009

 

2010

 

2009

 

2010

 

2009

1

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

2

Including the proceeds from the sale of Volkswagen Caminhões e Ônibus Indústria e Comércio de Veículos Comerciais Ltda., Resende.

3

Vehicles & Services and Financial Services.

4

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 €1,907 million (€831 million). The prior-year figures were adjusted.

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.

Volkswagen Passenger Cars

 

3,863

 

3,459

 

80,251

 

65,368

 

62,648

 

52,816

 

2,173

 

561

Audi

 

1,321

 

1,183

 

35,441

 

29,840

 

24,638

 

20,443

 

3,340

 

1,604

Škoda

 

585

 

552

 

8,692

 

7,100

 

5,892

 

5,761

 

447

 

203

SEAT

 

349

 

319

 

5,038

 

4,561

 

3,635

 

3,360

 

–311

 

–339

Bentley

 

5

 

4

 

721

 

571

 

691

 

553

 

–245

 

–194

Commercial Vehicles

 

349

 

275

 

7,392

 

5,294

 

4,809

 

3,844

 

232

 

3132

Scania3

 

64

 

43

 

8,462

 

6,385

 

8,462

 

6,385

 

1,342

 

236

VW China4

 

1,871

 

1,397

 

 

 

 

 

 

 

 

 

 

 

 

Other

 

–1,128

 

–923

 

–32,709

 

–25,592

 

3,499

 

929

 

–7695

 

–1,1355

Volkswagen Financial Services

 

 

 

 

 

13,587

 

11,660

 

12,600

 

11,095

 

932

 

606

Volkswagen Group

 

7,278

 

6,310

 

126,875

 

105,187

 

126,875

 

105,187

 

7,141

 

1,855

of which: Automotive
              Division

 

7,278

 

6,310

 

112,806

 

93,041

 

113,792

 

93,605

 

6,189

 

1,264

Financial Services Division

 

 

 

 

 

14,069

 

12,146

 

13,083

 

11,581

 

952

 

591

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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

 

2010

 

2009

 

2010

 

2009

Europe/Remaining markets

 

3,617

 

3,414

 

83,804

 

75,203

North America

 

554

 

451

 

15,193

 

11,396

South America

 

922

 

841

 

13,468

 

9,606

Asia-Pacific2

 

2,185

 

1,604

 

14,409

 

8,982

Volkswagen Group2

 

7,278

 

6,310

 

126,875

 

105,187

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