Brands and Business Fields

The Group brands operated in a continuously challenging market environment in 2015, facing fierce competition. Special items – particularly from the emissions issue – significantly affected the operating result.

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.

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VOLKSWAGEN GROUP

 

 

Division

 

Automotive

 

Financial Services

 

 

 

 

 

Brand/
Business Field

 

Volkswagen Passenger Cars

 

Audi

 

ŠKODA

 

SEAT

 

Bentley

 

Dealer and customer financing Leasing Direct bank Insurance Fleet management Mobility offerings

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Porsche

 

Volkswagen Commercial Vehicles

 

Scania

 

MAN

 

Other

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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.

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KEY FIGURES BY BRAND AND BUSINESS FIELD1

 

 

VEHICLE SALES

 

SALES REVENUE

 

SALES TO THIRD PARTIES

 

OPERATING PROFIT

Thousand vehicles/ € million

 

2015

 

2014

 

2015

 

2014

 

2015

 

2014

 

2015

 

2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1

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

2

Including financial services.

3

The sales revenue and the operating result 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 a proportionate operating result of €5,214 (5,182) million.

4

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 purchase price allocation for Scania, Porsche Holding Salzburg, MAN and Porsche.

5

Including allocation of consolidation adjustments between the Automotive and Financial Services divisions.

Volkswagen Passenger Cars

 

4,424

 

4,583

 

106,240

 

99,764

 

70,939

 

68,396

 

2,102

 

2,476

Audi

 

1,529

 

1,444

 

58,420

 

53,787

 

37,605

 

36,105

 

5,134

 

5,150

ŠKODA

 

800

 

796

 

12,486

 

11,758

 

6,128

 

6,144

 

915

 

817

SEAT

 

544

 

501

 

8,572

 

7,699

 

3,570

 

3,412

 

−10

 

−127

Bentley

 

11

 

11

 

1,936

 

1,746

 

1,379

 

1,175

 

110

 

170

Porsche2

 

219

 

187

 

21,533

 

17,205

 

19,663

 

15,727

 

3,404

 

2,718

Volkswagen Commercial Vehicles

 

456

 

442

 

10,341

 

9,577

 

4,813

 

4,826

 

382

 

504

Scania2

 

78

 

80

 

10,479

 

10,381

 

10,479

 

10,381

 

1,027

 

955

MAN

 

102

 

120

 

13,702

 

14,286

 

13,468

 

14,092

 

277

 

384

VW China3

 

3,456

 

3,506

 

 

 

 

 

 

Other

 

−1,608

 

−1,454

 

−56,318

 

−45,885

 

21,922

 

22,127

 

−2,4374

 

−2,0524

Volkswagen Financial Services

 

 

 

25,901

 

22,139

 

23,326

 

20,072

 

1,921

 

1,702

Volkswagen Group before special items

 

 

 

 

 

 

 

12,824

 

12,697

Special items

 

 

 

 

 

 

 

−16,893

 

Volkswagen Group

 

10,010

 

10,217

 

213,292

 

202,458

 

213,292

 

202,458

 

−4,069

 

12,697

Automotive Division5

 

10,010

 

10,217

 

183,936

 

177,538

 

186,869

 

179,864

 

−6,305

 

10,780

of which: Passenger Cars Business Area

 

9,374

 

9,575

 

149,716

 

143,601

 

158,716

 

151,138

 

−7,013

 

9,835

Commercial Vehicles/ Power Engineering Business Area

 

636

 

642

 

34,220

 

33,937

 

28,152

 

28,726

 

709

 

945

Financial Services Division

 

 

 

29,357

 

24,920

 

26,424

 

22,594

 

2,236

 

1,917

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KEY FIGURES BY MARKET1

 

 

VEHICLE SALES

 

SALES REVENUE

Thousand vehicles/€ million

 

2015

 

2014

 

2015

 

2014

 

 

 

 

 

 

 

 

 

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.

Europe/Other markets

 

4,524

 

4,430

 

132,535

 

122,858

North America

 

941

 

879

 

35,384

 

27,619

South America

 

540

 

794

 

10,148

 

13,868

Asia-Pacific2

 

4,005

 

4,114

 

35,225

 

38,113

Volkswagen Group2

 

10,010

 

10,217

 

213,292

 

202,458