(CEO),
Kfaus Kennberg (executive director)
Automobili Lamborghini S.p.A (subsidiary of Audi AG) ,
Bentley Motors Ltd.
Bugatti Automobiles S.A.S. (subsidiary of Volkswagen France) Scania AB
SEAT S.A.
Skoda Auto a.s.
Volkswagen Marine
Porsche
Ducati Motor Holding S.p.A. (subsidiary of Audi AG)
ItalDesign Giugiaro
The Volkswagen Group consists of 342 companies involved in the production of vehicles and related services. As of September 2011, Porsche Automobil Holding SE (also known as Porsche SE) owns 50.73% of the voting shares of Volkswagen AG. In turn, Volkswagen AG owns 49.9% of the ordinary shares of the intermediate holding Porsche Zwischenholding GmbH (the remaining 50.1% is directly owned by Porsche SE), and Porsche Zwischenholding GmbH owns 100% of the shares of the luxury car manufacturer Porsche AG. Negotiations are underway to merge into a single structure VW-Porsche. Until September 2015, Martin Winterkorn was simultaneously Chairman of the Board of Porsche SE and Volkswagen AG.
According to the results of 9 months of 2009, it was the world's largest car manufacturer. Ranked 14th on the Fortune Global 500 in 2009. The leader of the European car market (more than 25%).
Story
The concern originates from the company founded by Ferdinand Porsche in 1937 in Berlin, the Gesellschaft zur Vorbereitung des Deutschen Volkswagens mbH (Society for the Preparation of a German People's Car under the National Socialist organization Strength Through Joy). In early 1938, construction began on the first Volkswagen plant in Wolfsburg; On September 16 of the same year, the company was renamed "Volkswagenwerk GmbH". After World War II, the factories came under the control of the British military administration.
On August 22, 1960, the Volkswagen Plants limited liability company was founded, which, after the founding of the Federal Republic of Germany, became owned by the state of Lower Saxony. By decision of the annual general meeting in 1985, the name of the company was changed to "Volkswagen AG". In addition to the automotive and motorcycle industries, the concern provided financial and logistics services and had a small food business.
In the early 1990s, the concern experienced great difficulties. Appointed Chairman of the Group in 1993, Ferdinand Piech turned out to be an excellent crisis manager. He practically saved the concern by moving it to a four-day work week. Until 2015, Piech played one of the key roles in the concern. It was he who achieved outstanding success, choosing an offensive policy and acquiring a whole galaxy of popular automobile brands.
Corporate structure
Financial divisionIn March 1991, in order to optimize the organizational structure, Volkswagen forms an internal division called Volkswagen Finanz, which in January 1994 becomes independent within the group as a closed joint-stock company Volkswagen Financial Services. 100% of the share capital belongs to Volkswagen AG. As a banking and financial structure, Volkswagen Financial Services gains access to international financial markets and the opportunity to finance projects on favorable terms. The Group's financial division, Volkswagen Financial Services, is currently the largest financial operator in the automotive market in Europe, headquartered in Braunschweig. Assets of Volkswagen Financial Services at the end of 2009 amounted to more than 60.2 billion euros. Volkswagen Financial Services employs more than 5,000 people worldwide, including 3,600 employees based in Germany itself. The division deals with:
ActivityIn 2010, the revenue of the Volkswagen AG concern amounted to €57.243 billion, net profit - €1.55 billion. In 2009, despite the global crisis and the general decline in car sales, the company managed to increase car sales worldwide by 0.6%. This is a sales record, which reached the level of 6.23 million vehicles. In 2006, the concern sold 5.72 million vehicles worth €104.9 billion (net profit for this period amounted to €2.75 billion). More than 370 thousand people worked at the Group's enterprises. In 2005, the concern produced 5.22 million and sold 5.19 million vehicles. 7.5% of sales came from Germany, 44.7% from Europe, 15% from North America, 6.6% from Asia Pacific, 4.4% from South America and 1.8% from Africa. Revenue in 2005 amounted to €95.3 billion, an increase of 7% compared to 2004, VW's net profit was €1.12 billion (€697 million in 2004). In April 2019, it was reported that Volkswagen, together with the Chinese company Anhui Jianghuai Automobile (JAC), are planning to build a new factory for the production of electric vehicles in China. According to preliminary data, the construction of a new production facility will require about $750 million. ProductionThe Volkswagen AG concern owns 48 automobile manufacturing enterprises in 15 countries of Europe and in six countries of America, Asia and Africa. More than 370 thousand people work at the enterprises of the group, more than 26,600 vehicles are produced daily, authorized sales and service of vehicles are carried out in more than 150 countries of the world. Volkswagen in RussiaVolkswagen Group Rus LLC is the official distributor of Volkswagen, Audi, ŠKODA, Bentley, Lamborghini, Ducati and Volkswagen Commercial Vehicles in Russia. The activity of the company as a single importing company dates back to 2003. The General Director is Markus Ozegowicz. In 2014, Volkswagen Group Rus became the official partner of the Olympic and Paralympic Winter Games in Sochi. To organize the transfer of guests, the company provided the Sochi 2014 Organizing Committee with more than 3,000 Volkswagen, Audi, Škoda and Volkswagen Commercial Vehicles, most of which were produced at the company's Russian plants. In March 2016, the company put into operation a new warehouse for spare parts and accessories in the city of Chekhov near Moscow. In February 2018, the company's plant won the Transformer of the Year award for the best performance among Volkswagen brand plants in the world. In July 2018, the company expanded the boundaries of its activities and received the status of an official importer of Volkswagen brands - passenger cars and Volkswagen-Commercial vehicles in Kazakhstan. In November 2018, the Volkswagen Group Rus plant in Kaluga produced the 500,000th Volkswagen Polo sedan in the Drive configuration with a 1.6-liter engine with 110 hp. With. and a 6-speed automatic transmission. This car was handed over to the Russian car sharing operator Delimobil. In 2018, the company's sales in the Russian market amounted to 211,800 vehicles. The market share in 2018 reached 11.8%. The volume of sales of all brands of the Volkswagen Group in Russia amounted to 229,800 (including the results of sales of brands Porsche, MAN and Scania). In 2018, the company's production sites produced 200,000 vehicles: 143,500 vehicles at the company's plant in Kaluga and 56,500 vehicles at the production site in Nizhny Novgorod. The volume of engine production amounted to 161,000 engines, 44,000 of which were exported to production sites in Spain and the Czech Republic. Factory in KalugaOn May 29, 2006, the company signed an investment agreement with the administration of the Kaluga Region and the Ministry of Economic Development of Russia on the construction of an automobile plant near the city of Kaluga, in the technopark Grabtsevo. The initial investment in the project amounted to 570 million Euros. Initially, the plant, opened on November 28, 2007, produced Škoda Octavia cars using SKD technology. In October 2009, the plant launched the production of full-cycle bodies, including welding and painting. At the end of October 2009, Volkswagen Group Rus announced work on a project for a budget B-class sedan, created on the basis of the Volkswagen Polo hatchback specifically for the Russian market. At the beginning of June 2010, it became known about the practical readiness of the car, called Volkswagen Polo sedan. The car was put into production at the plant in Kaluga in the summer of 2010. The plant currently produces Volkswagen Tiguan , Volkswagen Polo and Škoda Rapid . In 2013, the level of production localization was estimated at 50%. In November 2016, a new body shop with an area of 12,000 sq. m. Additional capacities of the enterprise made it possible to organize the production of the second generation Volkswagen Tiguan. The total investment of the Volkswagen Group in the production of the new Tiguan amounted to 180 million euros. In June 2017, production of the updated Škoda Rapid started at the plant in Kaluga. engine plantIn 2015, a plant for the production of 1.6 MPI engines of the EA211 series was opened in Kaluga. The plant's capacity is 150,000 engines per year. In February 2016, the millionth car rolled off the assembly line in Kaluga, which was a Volkswagen Polo Allstar with a locally produced engine. In October 2016, the 200,000th 1.6 MPI EA211 series engine was produced since the opening of the engine factory. In 2018, 161,000 engines were manufactured, of which 44,000 were exported. Production in Nizhny NovgorodSince 2012, the company has also started producing cars at the production site of the GAZ Group in Nizhny Novgorod. The contract assembly agreement with the Russian GAZ Group was signed on June 14, 2011. . In accordance with the agreement, GAZ has now organized a full cycle of production of Škoda Octavia and Škoda Kodiaq cars. In June 2017, Volkswagen Group and GAZ Group signed a cooperation agreement in three areas:
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In the very early days of the automobile industry, all car manufacturers were, of course, independent of one another. But . As a result, more successful car companies began to buy competing car brands. Subsequently, the world's largest conglomerates began to be created in the automotive industry, which to this day are the largest auto companies in the world in terms of the number of products produced and, naturally, in terms of sales. Let's look at the current state of the global auto business. We invite you to find out which famous and popular ones are currently under the control of large corporations and auto alliances.
Abarth - owned by Fiat/Chrysler
Abarth was founded in 1949. Initially, the auto brand was engaged in the production of racing cars and the production of automotive components for powerful vehicles. In 1971, company founder Carlo Abat sold his brand to the company. Abarth is currently producing more powerful versions based on Fiat vehicles.
Alfa Romeo - Owned by Fiat/Chrysler
At the moment, the Audi brand is the largest part of the world's largest auto concern Volkswagen.
Bentley - Owned by Volkswagen
Ferrari - owned by Fiat
In 1969, Fiat acquired a 50% stake in Ferrari after a planned buyout of the Italian premium brand by Ford failed. Fiat eventually increased its shareholding to 90%. In 2014, Fiat Chrysler decided to separate the brand from the main group. As a result, the deal was completed in 2016, and the Agnelli family, who founded Fiat, became the largest shareholder of Ferrari.
Infiniti - Owned by Nissan
Lamborghini - owned by Volkswagen
In the late 1980s and early 1990s, Lamborghini was owned by Chrysler. Currently part of the Volkswagen Group. Lamborghini became part of this company in 1998, when the brand came under control.
Land Rover - Owned by TATA
Land Rover has been owned by many well-known automobile brands throughout the long history of the automotive industry, ranging from and ending with the American company Ford. But in 2008, the Land Rover brand, along with Jaguar, came under the control of the Indian industrial giant Tata. Immediately after the takeover, the two independent brands and Jaguar were merged into one company.
Lexus - Owned by Toyota
Lexus is wholly owned by Toyota. The brand is the luxury division of a Japanese company. Like Acura, Infiniti, which are owned and respectively, the Lexus brand was brought to market to enter the US premium car market as well as the UK.
Lotus - Owned by Proton
Malaysian automaker Proton bought the company in 1993 from Italian businessman Romano Artioli (who owned Bugatti in those years). Today, the Lotus brand is still owned by Proton. The strangest thing is that Lotus cars are still produced and sold all over the world (mainly in England), while the production of cars under the Proton brand has been discontinued.
Maserati - Owned by Fiat-Chrysler
Maserati has been a 100% subsidiary of Fiat since 1993. Today it belongs to the Fiat-Chrysler automaker.
Mercedes - Owned by Daimler
Mercedes-Benz is the largest and most well-known automobile brand within the Daimler Corporation. Daimler also owns several commercial vehicle manufacturers.
MG - Owned by Saic
MG is owned by a Chinese company after MG Rover went bankrupt in 2005. Initially, the MG brand was bought by the Chinese company Nanjing Automobile, but then it was bought by the Shanghai company SAIC.
Mini - Owned by BMW
In 2000, BMW sold their MG, Rover and Land Rover brands, which were known to be part of the Rover Group. But in the sale, BMW retained control of Mini. As a result, today BMW, in addition to Rolls-Royce, retains control over the brand.
Mitsubishi - Owned by Nissan-Renault
Mitsubishi Motors is the automotive division of the Mitsubishi Group, which, in addition to auto production, is involved in projects in nuclear energy, banking and many other business areas. In October 2016, Nissan became the company's largest shareholder by purchasing a 34% stake. So Mitsubishi became part of the Renault-Nissan auto alliance.
Nissan - Owned by the Renault-Nissan Auto Alliance
After several years of financial difficulties, Nissan entered into an alliance with Renault in 1993. Technically, the two companies are separate. But the technologies, methods of work in the production of cars are the same. The autoalliance also has a single CEO, Carlos Ghosn. Nissan has a smaller stake in Renault, while Renault has a larger stake in Nissan, which is essentially a junior partner.
Porsche - Owned by Volkswagen
The car manufacturer is a subsidiary of Volkswagen.
Renault - Owned by the Renault-Nissan Alliance
Renault was once owned by the French government. In 1996 the company was privatized. But today, France still has a stake in Renault. Today, Renault is part of the world's largest auto alliance Renault-Nissan, which recently also included Mitsubishi.
Rolls-Royce - Owned by BMW
Rolls-Royce Motors was bought by Volkswagen in 1998. Five years later, the company was taken over by BMW.
Seat - Owned by Volkswagen
Since 1986 it has been the single largest car manufacturer in Spain. Since this year, the company has been part of Volkswagen.
Skoda - Owned by Volkswagen
Volkswagen started buying Skoda shares in 1991, at a time of great change in the former Czechoslovakia. Since 2000, Skoda has been wholly owned by the VW Group.
Smart - Owned by Daimler
Initially, the idea of a radical city car was first proposed by the owner of watch manufacturer Swatch. Smart is now wholly owned by Daimler.
SsangYong - Owned by Mahindra & Mahindra
Although SsangYong is still based in South Korea, the main owner of the Korean auto brand is the Indian company Mahindra & Mahindra, which acquired a 70% stake in the Korean company in 2011.
Subaru - Owned by Fuji
Subaru is owned by Fuji Heavy Industries (FHI), which will soon change its name to Subaru Corporation. FHI has six independent automotive companies. The major shareholders of the company are Toyota and Suzuki. Suzuki has a large share.
Vauxhall / Opel - Owned by PSA (Citroen-Peugeot)
Vauxhall cars / despite the fact that they were positioned as British and German car brands, in fact, for a long time they were part of the world's largest automaker General Motors. General Motors has owned the Vauxhall/Opel brands since 1925. In March 2017, it was announced that the Vauxhall/Opel brands were being taken over by the Citroen-Peugeot Auto Alliance (PSA).
Volvo - Owned by Geely
After being a completely independent Swedish car brand for more than 70 years, Volvo became part of Ford in 2000, which 9 years later sold the Swedish brand to the Chinese company Geely.
Lada AvtoVAZ - Owned by Renault-Nissan Alliance and Rostec
In 2008, a controlling stake in the AvtoVAZ car plant was received by Renault.
GAZ - Owned by Basic Element, Oleg Deripaska
In 2000, a controlling stake in GAZ OJSC was acquired by Oleg Deripaska's Basic Element. In 2001, the Gorky Automobile Plant became part of the RusPromAvto auto holding.
The Volkswagen concern is known all over the world. This is indeed the largest group of companies involved in the production of cars. The parent company (or, as they say, the parent company) is located in Wolfsburg and is called, as everyone knows, Volkswagen AG. Well, this concern has a very rich and long history and a lot of interesting facts. So it is worth talking about it in more detail.
Porsche and Volkswagen
So, the headquarters of this concern is located in Germany, in Wolfsburg. The company was named "Volkswagen", which means "people's car" in German. To date, about half of the shares are owned by such a holding as Porsche SE. Nevertheless, the Volkswagen concern owns all one hundred percent of the ordinary shares of the intermediate holding, which is called Porsche Zwischenholding GmbH. In general, in fact, "Porsche" is the car that produces "Volkswagen". Today, management companies are negotiating to combine the firms into a single structure, which could be called VW-Porsche. It is also interesting that Martin Winterkorn (a fairly well-known personality in the automotive world) until September 2015 served as chairman of the board of both Volkswagen and Porsche.
But that's not all. Today, the Volkswagen Group consists of 342 companies that produce cars and provide services related to this area. It is the largest car manufacturer in the world. And of course, the undisputed leader of the European car market. 25% of the cars that drive on the roads of the continent are produced by Volkswagen.
About history
The Volkswagen concern begins its history in 1937. The founder of the company is Ferinand Porsche. It was he who created the so-called Society for the preparation of Volkswagen mbH. And in 1938, they began to build the first Volkswagen plant. Of course, it was in Wolfsburg. In addition to the automotive industry, the plant was engaged in another type of activity. The Volkswagen AG concern then provided logistics and financial services. And besides that, he had a small food business.
In the 1990s, the company began to experience major difficulties. There were some serious financial problems. But thanks to the entrepreneurial spirit of Ferdinand Piech, everything worked out. In fact, this man saved Volkswagen. The concern switched to a 4-day working week, began to follow an offensive policy and began to develop at an even faster pace. In the end, the company managed to acquire just a huge number of popular brands.
Rolls Royce and Suzuki
From 1998 to 2002, the Volkswagen automobile concern was engaged in the production of cars such as Rolls-Royce. All people know about these luxurious models, even those who are not familiar with the auto world. This topic is quite interesting. A division of the Volkswagen Bentley group was engaged in the production of these cars under an agreement with another company - BMW. Why? But because the Munich company bought from such a concern as Vickers, the rights to this brand. And since 2003, only BMW has the right to manufacture and produce cars with the eminent Rolls-Royce emblem.
In 2009, the Volkswagen Group stepped even further - it entered into an alliance with a company such as Suzuki. The firms exchanged blocks of shares (German manufacturers got 20% of Suzuki's shares) and announced the joint development of so-called ecological machines. But in 2011, the alliance broke up, which was announced to the world.
2015 scandal
In September of the current year, 2015, a worldwide scandal broke out around Volkswagen. The concern was accused of the fact that the program that the developers used in the on-board computers they produce determined one important moment. Namely, in what mode the machine works - in normal or in test mode. This program was started in cars with diesel power units. Including VW Jetta, Audi A3, Golf, Passat, Beetle. When testing began, the car automatically switched to an environmentally friendly mode of operation. A very smart and thoughtful system, I must say. However, this turned out to be a huge disaster for the concern and financial costs.
The Environmental Protection Agency said that for absolutely every car that does not meet US standards, the company will have to pay a fine of 37.5 thousand dollars. It turns out a fabulous amount. After all, since 2008 the concern has sold 482,000 cars. And the total amount of fines can reach 18 billion! To date, half a million of its vehicles have been recalled from the United States. This is also a loss. The chairman of the company, Martin Winterkorn, apologized publicly after the incident and said that he would definitely support the investigation. By the way, the ministry is engaged in it. After that, Martin retired after more than a dozen years working at Volkswagen.
Acquired companies before 2000
So, it is worth talking in more detail about what is included in the Volkswagen concern. Naturally, the main part of it is the Volkswagen company, which produces cars. The company is not formalized as a “daughter” of the parent concern, but is a division directly reporting to the management of VW AG.
In 1964, the company "Audi" was attached to this structure. It was purchased from Daimler-Benz. Next after Audi was a company such as NSU Motorenwerke. She was bought in 1969. This brand has not been used as an independent brand for a long time - since 1977. And before that, the company produced motorcycles and cars.
They took over the Spanish brand Seat, which has existed since 1950. Volkswagen owns 99.99% of the company's shares. The most interesting models began to appear after Seat joined the German structure. For example, SEAT Bocanegra with a 180-horsepower engine, which was designed by Lamborghini specialists.
In 1991, the company acquired the Czech Škoda, and then returned to Volkswagen Commercial Vehicles. This company was once part of VW AG, but in 1995 it became an independent brand. Or rather, a division. Bentley, Bugatti, Lamborghini - these brands are known all over the world today. And these are concerns owned by Volkswagen since 1998. That year was a shock year for the company. After all, these cars are considered one of the most popular, well-known and actively bought by people.
Acquired firms after 2000
The Volkswagen Group continued to acquire shares further. In 2009, he bought almost 71% of Scania AB. This production is engaged in the development and production of dump trucks, buses, trucks, truck tractors and diesel engines. Another company, MAN AG, bought in 2011, produces all of the above, as well as hybrid powertrains in addition. VW AG owns 55.9% of the company's shares.
Ducati Motor Holding S.p.A and ItalDesign Giugiaro are two other manufacturers bought by Volkswagen. The first of these companies is one of the leading manufacturers of premium motorcycles. And the second is a studio engaged in the design of cars. Interestingly, 90% of the shares of this company in 2010 were bought by the Lamborghini holding. So Volkswagen was already the owner of the studio, but after the paperwork was completed, it also became the official owner.
And one more interesting information. VW AG acquired the Russian Aleko in 2013 (it was under this TM that the well-known cheap Moskviches were sold for some time). The right to use this brand and any emblems belongs to the German concern until 2021.
Financial questions
In 1991, in March, in order to optimize the organizational structure, the German concern decided to form an internal division that would deal with financial issues. It was named Volkswagen Finanz. In 1994 it became a closed joint stock company. This banking and financial structure gets full access to international financial markets, as well as the opportunity to finance on very favorable terms. This division deals with important issues. For example, financing the development, production and purchase of machines for corporate and individual customers. It also provides banking, leasing and insurance services to these individuals. In general, useful activity and, most importantly for the company, profitable.
About profit
And a couple of interesting facts in the end. In 2010, VW AG made a huge amount of money, amounting to 57.243 billion euros! But out of all this, the net profit turned out to be only 1.55 billion. It seems small compared to the revenue. However, this is actually a lot of money. After all, all expenses that go to almost 350 companies are taken into account. Because the profit is really solid. Therefore, it is not surprising that Volkswagen is by far the largest, richest and most famous company.
Volkswagen Konzern (Russian Volkswagen Concern, in English sources - Volkswagen Group, sometimes VW Group - a German automobile concern (group of companies). The head (parent) company of the concern is Volkswagen Aktiengesellschaft, more commonly known as Volkswagen AG (formerly VAG - the abbreviation was deciphered as Volkswagen Audi Gruppe).The company's headquarters is located in the city of Wolfsburg (Wolfsburg, Germany.The company is named after the Volkswagen brand (German: Volkswagen) - "people's car". As of September 2011, 50.73% of the voting shares of Volkswagen AG belong to the holding Porsche SE In turn, Volkswagen AG owns 100% of the ordinary shares of the intermediate holding Porsche Zwischenholding GmbH, and Porsche Zwischenholding GmbH owns 100% of the shares of luxury car manufacturer Porsche AG Negotiations are underway to merge into a single structure VW-Porsche Currently Martin Winterkorn is simultaneously Chairman of the Management Board of Porsche SE and Volkswagen AG. kswagen is made up of 342 companies involved in vehicle manufacturing and related services. According to the results of 9 months of 2009, it was the world's largest car manufacturer. Ranked 14th on the Fortune Global 500 (2009). From July 1998 to December 2002, a division of the Volkswagen Bentley Group produced cars under the Rolls-Royce brand under an agreement with BMW, which acquired the rights to this brand from Vickers. Since 2003, only BMW has been able to produce cars under the Rolls-Royce brand. In December 2009, the Volkswagen Group entered into an alliance with the Japanese Suzuki, exchanging blocks of shares with the latter (the Germans received a 20% stake in Suzuki) and announcing the joint development of environmentally friendly cars. Less than two years later, in September 2011, the breakup of this alliance was announced. The divisions of the Volkswagen Group are: Volkswagen (passenger cars) - at present, the part of the concern engaged in the production of passenger cars is not registered as a subsidiary joint-stock company, but directly reports to the management of Volkswagen AG. Audi is the last car brand of the Auto Union group, acquired from Daimler-Benz in 1964. NSU Motorenwerke - was acquired in 1969 and entered the Audi Division. Not used as an independent brand since 1977. Seat - a controlling stake in the company (53%) was acquired from the state in 1986. Since 1990, the brand has practically been the property of the Volkswagen Group, which owns 99.99% of the company's shares. Škoda - the company was acquired in 1991. Volkswagen Commercial Vehicles (Volkswagen Nutzfahrzeuge) - was part of Volkswagen AG, but in 1995, thanks to the efforts of Bernd Weideman, the group's previous chairman, it became an independent division within the Volkswagen Group. The division is engaged in the production of commercial vehicles: minibuses, buses and tractors. Bentley, the company was acquired in 1998 from the British concern Vickers along with Rolls-Royce, but cannot independently produce cars under this brand, since the brand itself was sold to BMW. Bugatti - the brand was acquired in 1998. Lamborghini was acquired by a subsidiary of Audi in 1998. Scania AB - a controlling stake in the company (70.94%) was acquired in 2009. It produces truck tractors, trucks and dump trucks, buses and diesel engines. MAN AG - a controlling stake in the company (55.9%) was acquired in 2011. Manufacturer of truck tractors, trucks and dump trucks, buses, diesel and hybrid engines. Porsche - 49.9% of Porsche AG acquired in 2009. By 2011, a merger with parent Porsche SE was planned to create a single integrated car company, but this did not happen. The merger between Porsche and Volkswagen has been postponed indefinitely. And finally, in 2012, the Volkswagen Group completed the acquisition of Porsche, which made it the 12th brand in the German group. The deal was closed after Volkswagen acquired a 50.1 percent stake in Porsche, which cost the concern 4.49 billion euros and one of its ordinary shares. The Volkswagen Group is one of the largest shareholders of the Japanese company Suzuki Motor Corporation. Ducati Motor Holding S.p.A. - one of the leading manufacturers of premium motorcycles, acquired by a division of the Volkswagen Group - Audi AG - on April 18, 2012 from Investindustrial SpA for $ 1.1 billion. Also, as of 2013, Volkswagen is the owner of the Russian trademark "Moskvich". The right to use the brand and all emblems remains with Volkswagen until 2021. In March 1991, in order to optimize the organizational structure, Volkswagen forms an internal division called Volkswagen Finanz, which in January 1994 becomes independent within the group as a closed joint-stock company Volkswagen Financial Services. 100% of the share capital belongs to the Volkswagen Group. As a banking and financial structure, Volkswagen Financial Services gains access to international financial markets and the opportunity to finance projects on favorable terms. The Group's financial division, Volkswagen Financial Services, is currently the largest financial operator in the automotive market in Europe, headquartered in Braunschweig. The assets of Volkswagen Financial Services as of December 31, 2009 amounted to more than 60.2 billion euros. Volkswagen Financial Services employs more than 5,000 people worldwide, including 3,600 employees based in Germany itself. The division is engaged in: financing of production and purchase of cars for private and corporate clients (Volkswagen Bank); provision of banking services to private and corporate clients (Volkswagen Bank direct/Audi Bank direct); providing insurance services to private and corporate clients (Volkswagen Bank GmbH/Volkswagen-Versicherungsdienst: Volkswagen Bank, Audi Bank, Seat Bank, Škoda Bank); provision of leasing services to private and corporate clients (Volkswagen Leasing); fleet management (Volkswagen Leasing/LeasePlan Corporation); In 2010, the Volkswagen Group's revenue amounted to €57.243 billion, net profit - €1.55 billion In 2009, despite the global crisis and the general decline in car sales, the company managed to increase car sales worldwide by 0.6%. This is a sales record, which reached the level of 6.23 million vehicles. In 2006, the concern sold 5.72 million vehicles worth €104.9 billion (net profit for this period amounted to €2.75 billion). More than 370 thousand people work at the Group's enterprises. In 2005, the concern produced 5219.5 thousand and sold 5192.6 thousand cars. 7.5% of sales came from Germany, 44.7% from Europe, 15% from North America, 6.6% from Asia Pacific, 4.4% from South America and 1.8% from Africa. Revenue in 2005 amounted to €95.3 billion, an increase of 7% compared to 2004, net profit - €1.12 billion (€697 million in 2004). Production The Volkswagen Group owns 48 automotive manufacturing plants in 15 European countries and six countries in the Americas, Asia and Africa. More than 370 thousand people work at the enterprises of the group, more than 26`600 cars are produced daily, authorized sales and car servicing are carried out in more than 150 countries of the world. Plans for a corporate merger between Porsche AG and Volkswagen were unveiled in May 2009. Negotiations are suspended at this stage due to lack of clarity about Porsche's financial position. Volkswagen Group in Russia On May 29, 2006 Volkswagen Group signed an investment agreement with the administration of the Kaluga Region and the Ministry of Economic Development of Russia on the construction of an automobile plant near the city of Kaluga, in the technopark Grabtsevo. At the end of July 2007, the EBRD, which is one of the project's lenders, estimated the total cost of the project, including the cost of organizing the production of components, at 1.042 billion euros. Initially, the plant, opened on November 28, 2007, produced Škoda Octavia cars in the amount of no more than 20 thousand cars per year using SKD technology (Semi Knocked Down - assembling cars from large blocks or “large-scale assembly”). In October 2009, the plant launched a full-fledged CKD (Completely Knocked Down) car assembly line - a complete assembly of a car from finished parts, including body welding. First, Škoda Octavia and Volkswagen Tiguan were produced using the CKD method, in 2010 Škoda Fabia and Volkswagen Polo sedan, specially designed for the Russian market, were launched. It is expected that after the opening of a new production facility, the plant will be able to produce up to 150,000 vehicles per year (including the Audi A4, A5, Q5, A6 and Q7 - all using the SKD method). The number of employees at the plant in 2010 will be increased to 3 thousand people On January 12, 2009, a reorganization took place in the form of the merger of two Russian subsidiaries. Volkswagen Group Rus LLC was joined by Volkswagen Rus LLC. The first was registered in Moscow in 1999 (until 2003 it was called Volkswagen Group Automobiles LLC) and was an import structure that manages sales and after-sales service for cars. The second one was established in 2006 in Kaluga to manage a new plant where Volkswagen and Škoda cars are assembled. According to the company, the merger will simplify the coordination between Kaluga and Moscow, and will also allow to combine personnel and finances. Dietmar Korzekwa (since 2010 - Markus Ozegowicz) became the CEO of the new structure. In October 2009, SKD assembly of the following models was carried out at the plant in Kaluga: Skoda Octavia, Octavia Combi, Octavia Tour, Octavia RS, Octavia Scout, Škoda Superb, Škoda Roomster, Škoda Fabia, Škoda Fabia Combi, Škoda Yeti, Volkswagen Passat, Volkswagen Passat CC, Volkswagen Tiguan, Volkswagen Golf, Volkswagen Touareg, Volkswagen Jetta, Volkswagen T5, Volkswagen T5 lang, Volkswagen Caddy and Volkswagen Caddy maxy. Since 2012, Volkswagen has also started producing cars at the GAZ plant in Nizhny Novgorod. The cooperation agreement with the Russian GAZ Group was signed on June 14, 2011. Production of Volkswagen Jetta, Skoda Octavia and Škoda Yeti brands is planned in Nizhny Novgorod. At the beginning of 2013, the production of a full cycle of Skoda Yeti was mastered in Nizhny Novgorod. Other models are coming soon. At the end of October 2009, Volkswagen Group Rus LLC announced that it was working on a project for a budget B-class sedan, created on the basis of the Polo hatchback specifically for the Russian market. In early June 2010, it became known about the practical readiness of the car, called the Volkswagen Polo sedan. The car was put into production at the plant in Kaluga in the summer of 2010.