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Annual Report

Management Report

7.2 In the past fiscal year, both the global economy as a whole and the automotive industry largely recovered from the consequences of the financial and economic crisis. The Volkswagen Group took advantage of this development to further strengthen its market position: deliveries rose to 7.2 million vehicles, thereby pushing through the seven million mark for the first time.

Passenger car deliveries in key markets compared with 2009 (graphics)

What you'll find in this chapter:

Business Development

Number of vehicles delivered exceeds 7 million for the first time.

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Shares and Bonds

Encouraging share price performance for Volkswagen AG shareholders.

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Results of Operations, Financial Position and Net Assets

Volkswagen Group generates record results in 2010.

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Summary

Summary of economic position of the Volkswagen Group.

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Value added statement

The value added statement indicates the added value generated by a company in the past fiscal year as its contribution to the gross domestic product of its home country, and how it is appropriated.

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Volkswagen AG

Stronger vehicle sales boost sales revenue and earnings.

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Value-Enhancing Factors

Highly motivated specialists develop and manufacture innovative, emotional products.

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Risk Report

Identifying and controlling risk – successfully.

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Report on Expected Developments

Automotive markets gaining further momentum.

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