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Annual Report

Business Development

SALES TO THE DEALER ORGANIZATION

Volkswagen AG sold 2,309,648 vehicles to the dealer organization in 2010, 12.5% more than in 2009. The proportion of vehicles sold outside Germany was 69.2% (57.9%).

PRODUCTION

Volkswagen AG’s vehicle production plants (Emden, Hanover and Wolfsburg) manufactured 1,100,186 vehicles, 6.0% more than in the previous year. Average daily production at Volkswagen AG rose by 13.9% to 5,195 units.

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EMPLOYEE PAY AND BENEFITS AT VOLKSWAGEN AG

 

 

€ million

 

2010

 

%

 

2009

 

%

Direct pay including cash benefits

 

4,790

 

69.5

 

4,104

 

61.8

Social security contributions

 

969

 

14.1

 

873

 

13.1

Compensated absence

 

749

 

10.9

 

764

 

11.5

Old-age pensions

 

385

 

5.6

 

905

 

13.6

Total expense

 

6,892

 

100.0

 

6,645

 

100.0

NUMBER OF EMPLOYEES

At December 31, 2010, a total of 94,787 people were employed at the sites of Volkswagen AG, excluding staff employed at subsidiaries. This figure included 4,512 vocational trainees. 2,946 employees were in the passive phase of their early retirement. The workforce was 0.4% lower than during the previous year.

The percentage of female employees was 14.5% of the total headcount. Volkswagen AG employed 2,977 part-time workers (3.1%). The percentage of foreign employees was 5.9%. A total of 83.2% of employees held a vocational qualification with supplementary further training, while 13.7% were graduates. The average age of Volkswagen employees was 42.4 years.

RESEARCH AND DEVELOPMENT

Volkswagen AG’s research and development costs according to the German Commercial Code amounted to €3.1 billion in fiscal year 2010 (€3.0 billion). As of the end of 2010, 9,114 people were employed in this area.

PURCHASING VOLUME

The purchasing volume across the six Volkswagen AG sites in Germany increased to €20.7 billion in 2010 (€18.1 billion); 70.7% (71.6%) of this volume was sourced from suppliers in Germany. Of the total purchasing volume, €17.6 billion was spent on production materials and €3.1 billion on capital goods and services.

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VOLKSWAGEN AG EXPENDITURE ON ENVIRONMENTAL PROTECTION

 

 

€ million

 

2010

 

2009

 

2008

 

2007

 

2006

Investments

 

12

 

10

 

8

 

20

 

19

Operating costs

 

197

 

180

 

185

 

177

 

170

EXPENDITURE ON ENVIRONMENTAL PROTECTION

Investments in environmental protection include all investments relevant for production made exclusively or primarily for environmental protection. Additive measures as well as those integrated with production equipment and processes are included. Additive measures consist of facilities separate from the rest of the production process that are used for activities such as controlling water pollution. These are downstream of the manufacturing process and reduce the emissions generated by production. Integrated measures are part of a production plant or a process. They result in much lower levels of emissions or their avoidance altogether. The investments in 2010 focused on water pollution control and waste management.

OPERATING COSTS FOR ENVIRONMENTAL PROTECTION AT VOLKSWAGEN AG IN 2010
Share of environmental protection areas as percent
Operating costs for environmental protection at Volkswagen AG in 2010 (bar chart)

Environmental protection operating costs entail expenses for measures related to production and comprise expenditures for the operation of environmental protection equipment and expenditures not relating to such equipment.

BUSINESS DEVELOPMENT RISKS AT VOLKSWAGEN AG

The business development of Volkswagen AG is exposed to essentially the same risks as the Volkswagen Group. These risks are explained in the Risk Report of this Annual Report.

RISKS ARISING FROM FINANCIAL INSTRUMENTS

Risks for Volkswagen AG arising from the use of financial instruments are the same as those to which the Volkswagen Group is exposed. An explanation of these risks can be found in the chapter Financial risks.

DEPENDENT COMPANY REPORT

The Board of Management of Volkswagen AG has submitted to the Supervisory Board the report required by section 312 of the AktG and issued the following concluding declaration:

“We declare that, based on the circumstances known to us at the time when the transactions with affiliated companies within the meaning of section 312 of the German Stock Corporation Act (AktG) were entered into, our Company received an appropriate consideration for each transaction. No transactions with third parties or measures were either undertaken or omitted on the instructions of or in the interests of Porsche or other affiliated companies in the reporting period.”

The Annual Financial Statements of Volkswagen AG (in accordance with the HGB) can be accessed from the electronic companies register at www.unternehmensregister.de.

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