Brands and Business Fields

The Volkswagen Group increased unit sales, sales revenue and profit in fiscal year 2019 amid a persistently challenging market environment. The diesel issue resulted in special items that had an adverse effect on profit.

GROUP STRUCTURE

The Volkswagen Group consists of two divisions: the Automotive Division and the Financial Services Division. The Automotive Division comprises the Passenger Cars, Commercial Vehicles and Power Engineering business areas. Activities of the Automotive Division comprise in particular the development of vehicles and engines, the production and sale of passenger cars, light commercial vehicles, trucks, buses and motorcycles, as well as genuine parts, large-bore diesel engines, turbomachinery, special gear units, propulsion components and testing systems businesses. Mobility solutions are gradually being added to the range. The Ducati brand is allocated to the Audi brand and thus to the Passenger Cars Business Area. The activities of the Financial Services Division comprise dealer and customer financing, vehicle leasing, direct banking and insurance activities, fleet management and mobility offerings.

VOLKSWAGEN GROUP REPORTING STRUCTURE

 

 

 

 

 

 

 

AUTOMOTIVE
DIVISION

 

FINANCIAL SERVICES
DIVISION

 

 

 

 

 

 

 

Passenger Cars Business Area
Volkswagen Passenger Cars
Audi
ŠKODA
SEAT
Bentley
Porsche Automotive
Volkswagen Commercial Vehicles
Other

 

Commercial Vehicles Business Area
Scania Vehicles and Services
MAN Commercial Vehicles

 

Power Engineering Business Area
Power Engineering

 

Dealer and customer financing
Leasing
Direct bank
Insurance
Fleet management
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 the world’s largest single market for the Volkswagen Group, 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 differentiated by vehicle brand and their models that carry the corresponding brand logo. Unit sales figures contain vehicles sold by respective brand companies, including models 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.

KEY FIGURES BY MARKET

The Volkswagen Group generated an operating profit before special items of €19.3 (17.1) billion in fiscal year 2019. Special items which resulted from the diesel issue weighed on the operating profit in the amount of €−2.3 (−3.2) billion.

Unit sales by the Volkswagen Group rose to 11.0 (10.9) million vehicles in 2019 – a new record despite a challenging and highly competitive market environment. Sales revenue rose by 7.1% to €252.6 billion.

At 4.9 million vehicles, unit sales in the Europe/Other markets region were up 2.5% compared with the previous year. Sales revenue increased to €154.0 (143.1) billion due to volume and mix effects.

In North America, we increased unit sales by 3.4% to 1.0 million vehicles. Sales revenue amounted to €43.4 (37.7) billion, primarily due to the increase in volumes as well as positive exchange rate effects.

In the markets of the South America region, we sold 0.6 million vehicles in the reporting year. This was 1.9% more than in the previous year. Despite unfavorable exchange rate trends, sales revenue improved by 8.6% to €11.3 billion due to positive mix effects.

In the Asia-Pacific region, the Volkswagen Group’s unit sales – including those of the Chinese joint ventures – amounted to a total of 4.5 (4.6) million vehicles. At €44.0 (43.2) billion, sales revenue exceeded the prior-year level thanks to the improved mix and positive exchange rate effects. This figure does not include the sales revenue of our equity-accounted Chinese joint ventures.

Hedging transactions relating to sales revenue in foreign currency increased the sales revenue of the Volkswagen Group by €11 million in the reporting year. In the previous year, they increased sales revenue by €1.5 billion.

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KEY FIGURES BY BRAND AND BUSINESS FIELD

 

 

VEHICLE SALES

 

SALES REVENUE

 

OPERATING RESULT

Thousand vehicles/€ million

 

2019

 

2018

 

2019

 

2018

 

2019

 

2018

1

2019 in line with the reallocation of companies; the prior-year figures have not been adjusted.

2

Porsche (including Financial Services): sales revenue €28,518 (25,784) million, operating profit before special items €4,396 (4,291) million.

3

Scania (including Financial Services): sales revenue €14,391 (13,360) million, operating profit €1,648 (1,346) million.

4

The sales revenues and operating profits of the joint venture companies in China are not included in the figures for the Group. These Chinese companies are accounted for using the equity method and recorded a proportionate operating profit of €4,425 (4,627) million.

5

In operating profit, 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, as well as companies not allocated to the brands.

6

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

7

The Volkswagen Commercial Vehicles brand has been reported as part of the Passenger Cars Business Area since January 1, 2019. The prior-year figures have been adjusted.

 

 

 

 

 

 

 

 

 

 

 

 

 

Volkswagen Passenger Cars

 

3,677

 

3,715

 

88,407

 

84,585

 

3,785

 

3,239

Audi1

 

1,200

 

1,467

 

55,680

 

59,248

 

4,509

 

4,705

ŠKODA1

 

1,062

 

957

 

19,806

 

17,293

 

1,660

 

1,377

SEAT

 

667

 

608

 

11,496

 

10,202

 

445

 

254

Bentley

 

12

 

10

 

2,092

 

1,548

 

65

 

−288

Porsche Automotive2

 

277

 

253

 

26,060

 

23,668

 

4,210

 

4,110

Volkswagen Commercial Vehicles

 

456

 

469

 

11,473

 

11,875

 

510

 

780

Scania Vehicles and Services3

 

101

 

97

 

13,934

 

12,981

 

1,506

 

1,207

MAN Commercial Vehicles

 

143

 

137

 

12,663

 

12,104

 

402

 

332

Power Engineering

 

 

 

3,997

 

3,608

 

159

 

193

VW China4

 

4,048

 

4,101

 

 

 

 

Other5

 

−685

 

−912

 

−30,931

 

−34,029

 

−917

 

−1,418

Volkswagen Financial Services

 

 

 

37,957

 

32,764

 

2,960

 

2,612

Volkswagen Group before special items

 

 

 

 

 

19,296

 

17,104

Special items

 

 

 

 

 

−2,336

 

−3,184

Volkswagen Group

 

10,956

 

10,900

 

252,632

 

235,849

 

16,960

 

13,920

Automotive Division6

 

10,956

 

10,900

 

212,473

 

201,067

 

13,748

 

11,127

of which: Passenger Cars Business Area7

 

10,713

 

10,666

 

182,031

 

172,678

 

12,188

 

10,000

Commercial Vehicles Business Area7

 

243

 

234

 

26,444

 

24,781

 

1,653

 

1,191

Power Engineering Business Area

 

 

 

3,997

 

3,608

 

−93

 

−64

Financial Services Division

 

 

 

40,160

 

34,782

 

3,212

 

2,793

  (XLS:) Download

KEY FIGURES BY MARKET

 

 

VEHICLE SALES

 

SALES REVENUE

Thousand vehicles/€ million

 

2019

 

2018

 

2019

 

2018

1

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

 

4,856

 

4,739

 

153,999

 

143,089

North America

 

956

 

925

 

43,351

 

37,656

South America

 

607

 

596

 

11,297

 

10,405

Asia-Pacific1

 

4,538

 

4,640

 

43,974

 

43,166

Hedges on sales revenue

 

 

 

11

 

1,535

Volkswagen Group1

 

10,956

 

10,900

 

252,632

 

235,849