Brands and Business Fields

GROUP STRUCTURE

The Volkswagen Group consists of two divisions: the Automotive Division and the Financial Services Division. The Automotive Division comprises both the Passenger Cars Business Area and the Commercial Vehicles/Power Engineering Business Area. We report the Passenger Cars segment and the reconciliation in the Passenger Cars Business Area. The Commercial Vehicles/Power Engineering Business Area consists of the Commercial Vehicles and the Power Engineering segments. Accordingly, the activities of the Automotive Division comprise the development of vehicles and engines, the production and sale of passenger cars, light commercial vehicles, trucks, buses and motorcycles, as well as the genuine parts, large-bore diesel engines, turbomachinery, special gear units, propulsion components and testing systems businesses. The Ducati brand is allocated to the Audi brand and is thus presented in the Passenger Cars reporting segment. The Financial Services Division, which corresponds to the Financial Services segment, combines dealer and customer financing, leasing, banking and insurance activities, fleet management and the mobility offerings.

In this chapter, we present the key volume and financial data relating to the Group brands and to Volkswagen Financial Services. In light of the considerable importance of the development of business in China for the Volkswagen Group and the continuing growth in the world’s largest single 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 separately by brand and their models, i.e. by product line. Unit sales figures refer to models sold by the various brand companies, including vehicles of other Group brands. In some cases, there are marked differences between delivery figures and unit sales as a result of our business development in China.

In addition, we explain unit sales and sales revenue in the Europe/Other markets, North America, South America and Asia-Pacific markets.

KEY FIGURES BY MARKET

The irregularities that emerged in relation to the software used in certain diesel engines of the Volkswagen Group and the irregularities in relation to CO₂ emissions that could not be ruled out initially impacted the Volkswagen Group starting in September of last year. In particular, expenses for technical modifications, repurchases and legal risks arising in connection with the diesel issue led to the recognition of special items of €−16.9 billion in total. Operating result before special items matched the prior-year level at €12.8 billion.

The Volkswagen Group operated in a continuously challenging market environment in fiscal year 2015, facing fierce competition. Unit sales passed the ten million mark again, at 10.0 (10.2) million vehicles, while sales revenue rose by 5.4% to €213.3 billion.

In the Europe/Other markets region, unit sales of Group models increased 2.1% to 4.5 million vehicles in the reporting period. Sales revenue was up 7.9% year-on-year to €132.5 billion on the back of volume, mix and exchange rate effects.

The Group sold 0.9 million units in North America; 7.0% more than in the year before. Sales revenue increased 28.1% to €35.4 billion, primarily due to the increase in volumes, the stronger US dollar and positive mix effects.

With the economic environment in the South American region continuing to deteriorate, demand for vehicles fell again in the reporting period. The Volkswagen Group sold 0.5 million vehicles there (−32.0%). Sales revenue decreased by 26.8% to €10.1 billion as a consequence of lower sales figures and negative exchange rate effects.

Demand for Group models in the Asia-Pacific markets in fiscal year 2015 was slightly lower than in the previous year. Including the Chinese joint ventures, 4.0 (4.1) million vehicles were sold there. Sales revenue fell by 7.6% to €35.2 billion due to volume-related factors. These figures do not include the sales revenue generated by our Chinese joint ventures, since these are accounted for using the equity method.