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Annual Report

Report on Expected Developments

Automotive markets gaining further momentum

The global economy is expected to continue to grow in 2011 and 2012. The Volkswagen Group sees the greatest potential for the automotive industry in emerging economies. New models and technologies will help leverage the opportunities to be found there.

After highlighting the significant risks to the Volkswagen Group’s operating activities in the previous chapter, in the following we would like to outline the expected future developments. The resulting opportunities and potential are continually incorporated into the Group’s planning process so that they can be promptly leveraged.

We prepare our forecasts taking into consideration the most recent assessments by external institutions, including economic research institutes, banks, multinational organizations and consulting firms.

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