DOCSLIB.ORG

Separate Financial Statements Fiscal Year 2016

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Separate Financial Statements Fiscal Year 2016 Separate financial statements 2016 3 2016 4 Content 7 Group management report and management report of Porsche Automobil Holding SE 10 Fundamental information about the group 12 Report on economic position 12 Significant events and developments at the Porsche SE Group 24 Significant events and developments at the Volkswagen Group 39 Business development 45 Results of operations, financial position and net assets 53 Porsche Automobil Holding SE (financial statements pursuant to the German Commercial Code) 60 Sustainable value enhancement in the Porsche SE Group 60 Sustainable value enhancement in the Volkswagen Group 75 Overall statement on the economic situation of Porsche SE and the Porsche SE Group 76 Remuneration report 100 Opportunities and risks of future development 132 Publication of the declaration of compliance 133 Subsequent events 174 Forecast report and outlook 5 141 Financials 144 Balance sheet of Porsche Automobil Holding SE 145 Income statement of Porsche Automobil Holding SE 146 Notes to the fi nancial statements of Porsche Automobil Holding SE 261 Responsibility statement 262 Audit opinion 6 Volkswagen Golf R 7 1 Group management report and management report of Porsche Automobil Holding SE 8 9 Group management report and management report of Porsche Automobil Holding SE 10 Fundamental information about the group 12 Report on economic position 12 Significant events and developments at the Porsche SE Group 24 Significant events and developments at the Volkswagen Group 39 Business development 45 Results of operations, financial position and net assets 53 Porsche Automobil Holding SE (financial statements pursuant to the German Commercial Code) 60 Sustainable value enhancement in the Porsche SE Group 60 Sustainable value enhancement in the Volkswagen Group 75 Overall statement on the economic situation of Porsche SE and the Porsche SE Group 76 Remuneration report 100 Opportunities and risks of future development 132 Publication of the declaration of compliance 133 Subsequent events 134 Forecast report and outlook 10 1 Fundamental information about the group Porsche Automobil Holding SE (“Porsche SE” or in the field of connected-car services and real-time the “company”), as the ultimate parent of the traffic information. Porsche SE Group, is a European Company (Societas Europaea) and is headquartered at In addition to these investments, Porsche SE Porscheplatz 1 in 70435 Stuttgart, Germany. As plans to acquire further strategic investments. of 31 December 2016, the Porsche SE Group had Porsche SE’s principal criteria for future investments 30 employees (31 December 2015: 32 employees). are the connection to the automotive value chain, and above-average growth potential based on The business activities of the Porsche SE macroeconomic trends and industry-specific trends Group essentially consist in holding and managing derived from them. investments. The management reports for Porsche SE and for the Porsche SE Group are combined in The automotive value chain comprises the this report. entire spectrum of basic technologies geared to supporting the development and production process through to vehicle- and mobility-related Investment management of Porsche SE services. The relevant macro trends include, for Porsche SE is a holding company. In particular, example, sustainability and conservation of it holds the majority of the ordinary shares in resources, demographic change, urbanization and Volkswagen Aktiengesellschaft, Wolfsburg the increasingly networked automotive world. The (“Volkswagen AG” or “Volkswagen”), one of the industry-specific trends derived from these include leading automobile manufacturers in the world. new materials and drive concepts, shorter product The Volkswagen Group comprises twelve brands life cycles and rising customer demands regarding from seven European countries: Volkswagen safety and connectivity. passenger cars, Audi, SEAT, ŠKODA, Bentley, Bugatti, Lamborghini, Porsche, Ducati, Volkswagen Porsche SE’s investment focus is therefore on commercial vehicles, Scania and MAN. In addition, strategic investments in companies that meet these the Porsche SE Group holds shares in the criteria and contribute to the goal of achieving US technology company INRIX Inc., Kirkland, sustainable value enhancement. New investment Washington, USA (“INRIX”). INRIX is a world leader opportunities are examined on an ongoing basis. Group management report Fundamental information 11 about the group Core management and financial In the course of the year, the development of indicator system the indicators is continuously tracked and made Porsche SE’s main corporate goal is to invest in available to the executive board and supervisory companies that contribute to the mid- and long- board in the form of regular reports. The reporting term profitability of the Porsche SE Group while includes in particular the monthly reports for the ensuring liquidity. In line with these corporate goals, Porsche SE Group as well as monthly risk reports. profit/loss and liquidity are the core management indicators in the Porsche SE Group. Profit/loss after tax for the year is used as a financial indicator for earnings for the Porsche SE Group. For liquidity, net liquidity is monitored and managed accordingly. By definition, net liquidity is calculated as cash and cash equivalents, time deposits and securities less financial liabilities. The planning and budgeting process implemented in the Porsche SE Group is designed to enable management to take its decisions on the basis of the development of these indicators. Within the scope of planning, the costs associated with holding and managing the investments at the level of Porsche SE are budgeted in consultation with all departments, and integrated multi-year planning of the results of operations, financial position and net assets of the Porsche SE Group is derived taking into account the respective planning of the investments held. 12 1 Report on economic position Significant events and developments particular a further increase in the costs of at the Porsche SE Group mitigating the diesel issue might still lead to an impairment in the value of the investment. Ultimately, there could also be subsequent effects Diesel issue at the level of on the dividend policy of Volkswagen AG and the Volkswagen Group therefore on the cash inflows at the level of Porsche SE. Legal risks from claims brought against Porsche On 18 September 2015, the US Environmental SE stemming from this issue can likewise have an Protection Agency (EPA) publicly announced in a effect on Porsche SE’s results of operations, notice of violation that irregularities in relation to financial position and net assets. For details of this nitrogen oxide (NOx) emissions had been discovered matter, please refer to the explanations of the in emissions tests on certain vehicles with significant events and developments at the Volkswagen Group diesel engines. As a result, Volkswagen Group, the explanatory notes on the negative special items totaling €6.4 billion were results of operations, financial position and net recognized in the Volkswagen Group’s operating assets, to the section “Opportunities and risks of profit in the fiscal year 2016, primarily due to legal future development” and the “Outlook” section. The risks in connection with the diesel issues. As the executive board of Porsche SE remains committed majority shareholder, Porsche SE continues to be to the company’s role as Volkswagen AG’s long- affected by this issue, particularly with regard to its term anchor shareholder and is still convinced of profit/loss from investments accounted for at equity. the Volkswagen Group’s potential for increasing Furthermore, the proportional market capitalization value added. of its investment in Volkswagen AG is influenced by the resulting development of the price of Volkswagen ordinary and preference shares. Despite the proportional market capitalization being below the carrying amount as of 31 December 2016, there is no need to recognize an impairment loss on the basis of the earnings forecasts, even taking into consideration the new findings, for the investment in Volkswagen AG. However, in Group management report Report on economic position 13 Significant developments and current status against Porsche SE up until a final decision about relating to litigation risks and legal disputes the establishment objectives in the model case before the Higher Regional Court of Celle. In one of For several years, Porsche SE has been involved in the proceedings the plaintiffs filed an immediate various legal proceedings. The main developments appeal against the suspension decision. By of the legal proceedings during the fiscal year 2016 decision dated 20 February 2017 the Higher are described in the following: Regional Court of Celle dismissed the appeal. Hence, all suspension decisions rendered are final. The suspended proceedings concern six legal Actions for damages concerning the expansion actions of a total of 40 plaintiffs asserting alleged of the investment in Volkswagen AG claims for damages of about €5.4 billion (plus A model case according to the Capital Markets interest). By decision dated 12 January 2017 the Model Case Act (KapMuG) against Porsche SE is Higher Regional Court of Celle extended the pending with the Higher Regional Court of Celle. KapMuG-order of reference by 14 additional Subject of those actions are alleged damage claims establishment objectives. Furthermore, the Higher based on alleged market manipulation and
Load more

Recommended publications
  • Separate Financial Statements Fiscal Year 2019
    201Separate financial9 statements PPorscheorsche TaycanTaycan TurboTurbo S 3 Content Group management report and management report of Porsche Automobil Holding SE 6 Fundamental information about the group 10 Report on economic position 12 Significant events and developments at the Porsche SE Group 12 Significant events and developments at the Volkswagen Group 20 Business development 24 Results of operations, financial position and net assets 31 Porsche Automobil Holding SE (financial statements pursuant to the German Commercial Code) 37 Sustainable value enhancement in the Porsche SE Group 41 Overall statement on the economic situation of Porsche SE and the Porsche SE Group 43 Remuneration report 44 Opportunities and risks of future development 52 Publication of the declaration of compliance and corporate governance report 78 Subsequent events 79 Forecast report and outlook 80 Glossary 85 4 Financials 86 Balance sheet of Porsche Automobil Holding SE 90 Income statement of Porsche Automobil Holding SE 91 Notes to the consolidated fi nancial statements 92 Independent auditor’s report 212 Responsibility statement 220 5 VVolkswagenolkswagen IID.3D.3 6 1 Group management report and management report of Porsche Automobil Holding SE 7 8 Group management report and management report of Porsche Automobil Holding SE 6 Fundamental information about the group 10 Report on economic position 12 Significant events and developments at the Porsche SE Group 12 Significant events and developments at the Volkswagen Group 20 Business development 24 Results
    [Show full text]
  • Media Information
    Media Information 12 August 2020 All Space, All Adventure. The all-new Volkswagen Tiguan Allspace line-up launched from RM164,430 − Available in two variants, the Tiguan Allspace Highline and the Tiguan Press contact Allspace R-Line Dawn Ling − The all-new Tiguan Allspace R-Line set to become a high-achiever in its Manager, VPCM segment. Tel: 012 – 474 3007 − Both variants locally assembled at the Volkswagen Pekan plant. E: [email protected] KUALA LUMPUR – Volkswagen Passenger Cars Malaysia (VPCM) today Yani Fadzil launched the all-new Tiguan Allspace line-up, in an SUV offensive that is set Senior Manager, VPCM to make waves in the local SUV segment. Two variants are available; the Tel: 012 – 212 8977 Tiguan Allspace Highline 1.4TSI and the Tiguan Allspace R-Line 2.0TSI, both E: [email protected] locally assembled at the Volkswagen plant in Pekan, Pahang. An extended wheelbase version of the Tiguan, the Allspace sports bespoke front and rear ends. The exterior is accentuated with a significantly higher bonnet position with precise and sharper lines that run across the bonnet More under and front bumper giving it a stronger stance. www.volkswagen.com.my www.volkswagen-newsroom.com The longer wheelbase of the Tiguan Allspace makes the assertive-looking SUV a true space giant, offering versatility with multiple seat configurations. With the third-row seats folded, the available boot space is at 700 litres and with both seat rows folded, the SUV offers a massive boot space of 1,775 litres, the best in its segment.
    [Show full text]
  • Volkswagen AG Annual Report 2009
    Driving ideas. !..5!,2%0/24 Key Figures MFCBJN8><E>IFLG )''0 )''/ Mfcld\;XkX( M\_`Zc\jXc\jle`kj -#*'0#.+* -#).(#.)+ "'%- Gif[lZk`fele`kj -#',+#/)0 -#*+-#,(, Æ+%- <dgcfp\\jXk;\Z%*( *-/#,'' *-0#0)/ Æ'%+ )''0 )''/ =`eXeZ`Xc;XkX@=IJj #d`cc`fe JXc\ji\m\el\ (',#(/. ((*#/'/ Æ.%- Fg\iXk`e^gif]`k (#/,, -#*** Æ.'%. Gif]`kY\]fi\kXo (#)-( -#-'/ Æ/'%0 Gif]`kX]k\ikXo 0(( +#-// Æ/'%- Gif]`kXkki`YlkXYc\kfj_Xi\_fc[\ijf]MfcbjnX^\e8> 0-' +#.,* Æ.0%/ :Xj_]cfnj]ifdfg\iXk`e^XZk`m`k`\j)()#.+( )#.') o :Xj_]cfnj]ifd`em\jk`e^XZk`m`k`\j)('#+)/ ((#-(* Æ('%) 8lkfdfk`m\;`m`j`fe* <9@K;8+ /#'', ()#('/ Æ**%0 :Xj_]cfnj]ifdfg\iXk`e^XZk`m`k`\j) ()#/(, /#/'' "+,%- :Xj_]cfnj]ifd`em\jk`e^XZk`m`k`\j)#,('#),) ((#+.0 Æ('%. f]n_`Z_1`em\jkd\ekj`egifg\ikp#gcXekXe[\hl`gd\ek),#./* -#..* Æ(+%- XjXg\iZ\ekX^\f]jXc\ji\m\el\ -%) -%- ZXg`kXc`q\[[\m\cfgd\ekZfjkj (#0+/ )#)(- Æ()%( XjXg\iZ\ekX^\f]jXc\ji\m\el\ )%( )%) E\kZXj_]cfn )#,-* Æ)#-.0 o E\kc`hl`[`kpXk;\Z%*( ('#-*- /#'*0 "*)%* )''0 )''/ I\klieiXk`fj`e I\kliefejXc\jY\]fi\kXo (%) ,%/ I\kliefe`em\jkd\ekX]k\ikXo8lkfdfk`m\;`m`j`fe *%/ ('%0 I\kliefe\hl`kpY\]fi\kXo=`eXeZ`XcJ\im`Z\j;`m`j`fe -.%0 ()%( ( @eZcl[`e^mfcld\[XkX]fik_\m\_`Zc\$gif[lZk`fe`em\jkd\ekjJ_Xe^_X`$MfcbjnX^\e8lkfdfk`m\:fdgXepCk[% Xe[=8N$MfcbjnX^\e8lkfdfk`m\:fdgXepCk[%#n_`Z_Xi\XZZflek\[]filj`e^k_\\hl`kpd\k_f[% ) )''/X[aljk\[% * @eZcl[`e^XccfZXk`fef]Zfejfc`[Xk`feX[aljkd\ekjY\kn\\ek_\8lkfdfk`m\Xe[=`eXeZ`XcJ\im`Z\j[`m`j`fej% + Fg\iXk`e^gif]`kgclje\k[\gi\Z`Xk`fe&Xdfik`qXk`feXe[`dgX`id\ekcfjj\j&i\m\ijXcjf]`dgX`id\ekcfjj\jfegifg\ikp#gcXekXe[\hl`gd\ek# ZXg`kXc`q\[[\m\cfgd\ekZfjkj#c\Xj`e^Xe[i\ekXcXjj\kj#^ff[n`ccXe[]`eXeZ`XcXjj\kjXji\gfik\[`ek_\ZXj_]cfnjkXk\d\ek% , <oZcl[`e^XZhl`j`k`feXe[[`jgfjXcf]\hl`kp`em\jkd\ekj1Ñ.#,/,d`cc`feÑ/#/.0d`cc`fe % - Gif]`kY\]fi\kXoXjXg\iZ\ekX^\f]Xm\iX^\\hl`kp% .
    [Show full text]
  • Download PDF, 19 Pages, 505.25 KB
    VOLKSWAGEN AKTIENGESELLSCHAFT Shareholdings of Volkswagen AG and the Volkswagen Group in accordance with sections 285 and 313 of the HGB and presentation of the companies included in Volkswagen's consolidated financial statements in accordance with IFRS 12 as of 31.12.2019 Exchange rate VW AG 's interest Equity Profit/loss (1€ =) in capital in % in thousands, in thousands, Name and domicile of company Currency Dec. 31, 2019 Direct Indirect Total local currency local currency Footnote Year I. PARENT COMPANY VOLKSWAGEN AG, Wolfsburg II. SUBSIDIARIES A. Consolidated companies 1. Germany ASB Autohaus Berlin GmbH, Berlin EUR - 100.00 100.00 16,272 1,415 2018 AUDI AG, Ingolstadt EUR 99.64 - 99.64 13,701,699 - 1) 2019 Audi Berlin GmbH, Berlin EUR - 100.00 100.00 9,971 - 1) 2018 Audi Electronics Venture GmbH, Gaimersheim EUR - 100.00 100.00 60,968 - 1) 2019 Audi Frankfurt GmbH, Frankfurt am Main EUR - 100.00 100.00 8,477 - 1) 2018 Audi Hamburg GmbH, Hamburg EUR - 100.00 100.00 13,425 - 1) 2018 Audi Hannover GmbH, Hanover EUR - 100.00 100.00 16,621 - 1) 2018 AUDI Immobilien GmbH & Co. KG, Ingolstadt EUR - 100.00 100.00 82,470 3,399 2019 AUDI Immobilien Verwaltung GmbH, Ingolstadt EUR - 100.00 100.00 114,355 1,553 2019 Audi Leipzig GmbH, Leipzig EUR - 100.00 100.00 9,525 - 1) 2018 Audi München GmbH, Munich EUR - 100.00 100.00 270 - 1) 2018 Audi Real Estate GmbH, Ingolstadt EUR - 100.00 100.00 9,859 4,073 2019 Audi Sport GmbH, Neckarsulm EUR - 100.00 100.00 100 - 1) 2019 Audi Stuttgart GmbH, Stuttgart EUR - 100.00 100.00 6,677 - 1) 2018 Auto & Service PIA GmbH, Munich EUR - 100.00 100.00 19,895 - 1) 2018 Autonomous Intelligent Driving GmbH, Munich EUR - 100.00 100.00 250 - 1) 2018 Autostadt GmbH, Wolfsburg EUR 100.00 - 100.00 50 - 1) 2018 B.
    [Show full text]
  • D'ieteren Auto
    D’IETEREN AUTO WHAT WE DO As part of its 70-year old relationship with the Volkswagen Group, D’Ieteren Auto imports and distributes the vehicles of Volkswagen, Audi, SEAT, Škoda, Bentley, Lamborghini, Bugatti and Porsche across Belgium, along with spare parts and accessories. It is the country’s number one vehicle distributor, with a market share of around 21% and 1.2 million vehicles on the road. D’Ieteren Auto manages a strong network of independent dealers across the country and corporately owns about 20 locations, mainly on the Brussels-Mechelen-Antwerp axis. Besides distributing vehicles in Belgium, D’Ieteren Auto provides after sales services through its Corporate-owned operations. These include bodywork, maintenance and repair, glass repair and tyre replace- ment. It also sells used vehicles through My Way centres and My Way Authorized Distributors. In addition, D’Ieteren Auto provides car financing and long-term car rental services through a joint venture between D’Ieteren and Volkswagen Financial Services. Finally, it distributes the products of Yamaha in Belgium and the Grand Duchy of Luxembourg through D’Ieteren Sport. D’Ieteren Auto’s business model is currently evolving towards suppor- ting citizens’ social life through a more fluid, accessible and comfortable mobility. The company is bringing great focus on supporting responsible mobility, mainly through the initiatives of its recently launched sub- sidiary, Lab Box. IMPROVING THE LIVES OF CITIZENS WITH FLUID, ACCESSIBLE AND COMFORTABLE MOBILITY D’Ieteren / Acti vity Report 2017 / D’Ieteren Auto 12 / 13 MESSagE FROM denis gorteman CEO of d’ieteren auTO Mobility is evolving, D’Ieteren Auto too.
    [Show full text]
  • Club Veedub Sydney. June 2014
    NQ629.2220994/5 Club VeeDub Sydney. www.clubvw.org.au At the VW Nationals 2014. June 2014 IN THIS ISSUE: VW Nationals results VW Supersprint results 40 years of VW Golf The Toy Department Berry Blast from the Past Greg Cusack Pty Ltd Driving the Golf Cabriolet Plus lots more... Club VeeDub Sydney. www.clubvw.org.au A member of the NSW Council of Motor Clubs. Also affiliated with CAMS. ZEITSCHRIFT - June 2014 - Page 1 Club VeeDub Sydney. www.clubvw.org.au Club VeeDub Sydney Club VeeDub membership. Membership of Club VeeDub Sydney is open to all Committee 2013-14. Volkswagen owners. The cost is $45 for 12 months. President: Steve Carter 0490 020 338 [email protected] Monthly meetings. Monthly Club VeeDub meetings are held at the Vice President: David Birchall (02) 9534 4825 Greyhound Social Club Ltd., 140 Rookwood Rd, Yagoona, on [email protected] the third Thursday of each month, from 7:30 pm. All our members, friends and visitors are most welcome. Secretary and: Bob Hickman (02) 4655 5566 Membership: [email protected] Correspondence. Assist. Secretary: Wayne Murray 0414 253 797 Club VeeDub Sydney or Club VeeDub (Secretary) [email protected] PO Box 1340 14 Willoughby Cct Camden NSW 2570 Grassmere NSW 2570 Treasurer: Martin Fox 0411 331 121 (02) 9534 4825 [email protected] Our magazine. Editor: Phil Matthews (02) 9773 3970 Zeitschrift (German for ‘magazine’) is published monthly [email protected] by Club VeeDub Sydney Inc. Members with email details receive Assistant Editor: Lily Matthews Zeitschrift as a full-colour PDF from our website.
    [Show full text]
  • Golf R – the New Flagship
    Volkswagen GOLF R – THE NEW FLAGSHIP Volkswagen R GmbH workshop Wolfsburg, August 2013 Notes: You will find this press release and graphic motifs of the Golf R online at www.volkswagen-media-services.com. User ID: wobvwgor; password: 08pr-2013. TDI, TSI and DSG are registered trademarks of Volkswagen AG or other companies of the Volkswagen Group in Germany and other countries. All features and technical data apply to models offered in Germany. They may differ in other countries. All performance data and fuel economy and emissions data are forecast values as of August 2013. Golf R / Workshop / Wolfsburg / VOLKSWAGEN / 1 Contents New Golf R Key aspects Brief summary Page 03 TSI engine Page 04 4MOTION all-wheel drive system Page 05 Sport suspension Page 07 Exterior Page 10 Interior Page 11 Overview – quick facts Page 13 Key aspects Golf R / Workshop / Wolfsburg / VOLKSWAGEN / 2 Power of the Golf R increased to 300 PS Fuel consumption with DSG reduced to 6.9 litres per 100 km New TSI propels Golf R with DSG to 100 km/h in 4.9 seconds Golf R makes its debut with a new 4MOTION all-wheel drive system and progressive steering Wolfsburg, August 2013. It is the year of the Golf. The first six months of 2013 have already seen the debuts of the new Golf GTI, Golf GTD, Golf Estate and Golf TDI BlueMotion. Now, Volkswagen is continuing its Golf product offensive with the flagship of the model series – the new Golf R. The sports car is powered by a newly designed 300 PS TSI (221 kW), which is 30 PS stronger but up to 18 per cent more fuel efficient than that in the previous model.
    [Show full text]
  • Audi on the Road to Climate-Neutral Mobility
    Audi MediaInfo Audi on the road to climate-neutral mobility • Accelerated transfer to e-mobility: more than 20 models by 2025 • Cooperation with energy providers: Audi is calling for expansion of renewable energies • Holistically sustainable: numerous steps in the supply chain, production, and logistics Ingolstadt, August 27, 2021 – Production of Audi’s final new combustion engine model will start in just four years. Beginning in 2026, the premium brand will only release models onto the market that are powered purely by electricity. The manufacturer will phase out production of internal combustion engines by 2033. In order to become a leading provider of net-zero1 carbon mobility, Audi is also optimizing every link in its value chain and, moreover, committing itself to the expansion of renewable energy. On the “Sustainability” theme day at Audi Media Days prior to the IAA, the company presented, among other things, its vision of a climate-neutral factory and showed how sustainability is implemented in the supply chain. Audi wants to be a net-zero carbon emissions company by no later than 2050. By 2025, the company plans to offer more than 20 fully electric, battery-driven cars. At the same time, Audi wants to reduce the ecological footprint of its fleet – specifically, by 30 percent as compared with 2015. One central goal is to make production carbon neutral at all sites by 2025. This has already been achieved as an interim target at Audi Hungaria and Audi Brussels. The premium brand is keeping all its processes in sight: the sourcing of raw materials and production itself, but also the utilization phase and recycling or reuse at the end of a car’s life cycle.
    [Show full text]
  • (Microsoft Powerpoint
    Company Overview a member of SAMVARDHANA MOTHERSON GROUP SMP is… Innovative supplier of modules and complete systems for the automotive industry Specialist in cockpits, door panels and bumpers in Europe, Mexico, Brazil and China Leading plastic expert with cutting edge processes and innovative technologies Member of US$ 5.4 billion automotive specialist Samvardhana Motherson Group since 2011 SMP_PPT _MSO7_1307_Exec-Master a member of SAMVARDHANA MOTHERSON GROUP 2 Well balanced product portfolio Leading solutions in all product segments External sales FY2013-14: € 1.9 billion Interiors Exteriors 60% of sales 40% of sales Dashboards and cockpits Door panels Bumpers Innovative plastic solutions Dashboards Fully completed systems Painted bumper covers Convertible roof covers Fully completed cockpits Textile and slush surfaces Front-end modules Plastic based hybrid tailgates Glove boxes Light weight solutions Grills Plastic roof panels and hoods Airbag boxes Natural fibre solutions Painted rocker panel covers Innovate plastic body parts Centre consoles Decorative interior panels SMP_PPT _MSO7_1307_Exec-Master a member of SAMVARDHANA MOTHERSON GROUP 3 SMP locations worldwide 9.900 best skilled employees on 4 continents Germany Slovakia China Boetzingen (Headquarters) Bratislava Changchun Emden Galanta Bejing (under Gifhorn construction) Goettingen Foshan Ingolstadt Shanghai Leipzig Meerane Munich Neustadt Offenau Oldenburg Schierling (under construction) Portugal Palmela Mexico India Puebla Noida San José Chiapa (under Spain
    [Show full text]
  • Golf GTI Performance! Przód Nadwozia Ze Zmodyfikowanym Zderzakiem I Z Reflektorami LED Natychmiast Rzuca Się W Oczy
    Golf GTI 1925_Golf_GTI_K11.indd 01 18.10.19 14:48 Spis treści 04 Golf GTI 16 Connectivity 06 Stylistyka 18 Systemy wspomagające 08 Zawieszenie 20 Oryginalne akcesoria Volkswagen® 10 Wnętrze 22 Volkswagen Lifestyle 12 Obręcze kół i silnik 24 Lakiery i tapicerki 14 Infotainment 26 Serwis Zdjęcia na kolejnych stronach przedstawiają częściowo wyposażenie dodatkowe. Golf GTI – spis treści 03 1925_Golf_GTI_K11.indd 02 18.10.19 14:48 1925_Golf_GTI_K11.indd 03 18.10.19 14:48 Nowy, ale dzielny Buntownik znów pojawia się na drogach i po raz kolejny budzi sensację, a swoim kierowcom dostarcza jeszcze więcej przyjemności i wrażeń. Ladies and Gentlemen: Golf GTI Performance! Przód nadwozia ze zmodyfikowanym zderzakiem i z reflektorami LED natychmiast rzuca się w oczy. Legendarna struktura plastra miodu w osłonie chłodnicy, masywne progi i oczywiście moc 180 kW (245 KM) pozostały bez zmian. Blokada mechanizmu różnicowego przedniej osi zapewnia natomiast jeszcze intensywniejsze wrażenia podczas jazdy. Golf GTI 05 1925_Golf_GTI_K11.indd 04 18.10.19 14:48 1925_Golf_GTI_K11.indd 05 18.10.19 14:48 Stylistyka 01 Tył nadwozia Golfa GTI z karbowanym dyfuzorem w kolorze czarnym matowym, chromowanymi podwójnymi końcówkami rur wydechowych z lewej i prawej strony oraz tylnym spoilerem w kolorze nadwozia wygląda teraz jeszcze dynamiczniej. Ciemnoczerwone diodowe światła tylne z dynamicznymi kierunkowskazami jeszcze podkreślają to wrażenie. S 01 wyposażenie standardowe S wyposażenie dodatkowe O Golf GTI – stylistyka 07 1925_Golf_GTI_K11.indd 06 14.11.19 09:57 1925_Golf_GTI_K11.indd 07 18.10.19 14:48 Wyprzedzanie będzie od teraz łatwe i przyjemne Sportowe zawieszenie ma sztywno dostrojone sprężyny, amortyzatory i stabilizatory, co poprawia reakcję na ruchy kierownicą, szczególnie przy dynamicznym pokonywaniu zakrętów.
    [Show full text]
  • Porsche Automobil Holding SE Company Accounts 2008/2009
    Porsche Automobil Holding SE company accounts 2008/09 4 Group management report and management report of Porsche Automobil Holding SE 80 Balance Sheet 81 Income statement 82 Notes 102 Audit Opinion 103 Company Boards 105 Membership in other statutory supervisory boards and comparable domestic and foreign control bodies Group management report and management report of Porsche Automobil Holding SE Recent developments Michael Macht and Thomas Edig's appointment to the helm of Porsche AG marks the beginning of a new era for the Stuttgart-based automobile manufacturer. Michael Macht, who for many years served as head of pro- duction and logistics, has been made a member of the executive board of Porsche SE, and CEO of Porsche AG. Thomas Edig has been made board member at Porsche SE and Mr. Macht’s deputy at Porsche AG, where he is also responsible for HR and social issues and functions as labor director. Macht’s successor as head of production is Wolfgang Leimgruber, who was previously responsible for the body shell and paint shops. At Porsche SE, Michael Macht is responsible for technology and products, while Tho- mas Edig heads the commercial and administrative side. On 23 July 2009, the supervisory board of Porsche Automobil Holding SE (“Porsche SE”) reached an agreement on the departure of the long-term executive board members Dr. Wendelin Wiedeking and Holger P. Härter. Both men also resigned from their posts on the supervisory boards of Volkswagen AG and AUDI AG. Prof. Dr. Martin Winterkorn will be made the new CEO of Porsche SE fol- lowing the approval of the supervisory boards of Porsche SE and Volks- wagen AG.
    [Show full text]
  • RPM Garage 972-590-8689 11450 Sprowles St Dallas, TX 75229
    rpmgaragetx.com RPM Garage 972-590-8689 11450 Sprowles St Dallas, TX 75229 2013 Volkswagen Golf R w Sunroof & Nav, Bagged with Many Upgrades View this car on our website at rpmgaragetx.com/6949894/ebrochure Our Price $27,991 Specifications: Year: 2013 VIN: WVWPF7AJ6DW117436 Make: Volkswagen Model/Trim: Golf R w Sunroof & Nav, Bagged with Many Upgrades Condition: Pre-Owned Body: Sedan Exterior: Candy White Engine: 2.0L DOHC 16-valve turbocharged I4 engine Interior: Black Leather Mileage: 43,365 Drivetrain: All Wheel Drive Economy: City 19 / Highway 27 RPM Garage is a specialty car dealership conveniently located off I-35E in Dallas, Texas. With over 100 cars in stock, and new inventory arriving every day, we offer a wide variety of quality vehicles to make your dreams come true. Make sure to stop by and check out our BRAND NEW 40,000 sq/ft warehouse and take your dream car home TODAY! LET US FINANCE YOUR DREAMS! CLICK HERE TO BEGIN! We are proud to offer you this 2013 We are proud to offer you this 2013 Volkswagen R w Sunroof & Nav, Bagged with Many Upgrades for sale! This 2013 Volkswagen Golf R is a member of the sixth generation of the popular German hot hatch. With a turbocharged 2.0-liter engine under the hood, this car is built from the factory to tackle the track or the road at high speeds. This R spec model has 256 horsepower and 243 lb-ft. of torque that provide more than enough excitement without being unmanageable. The power is put through a six-speed manual gearbox and delivered through what is essentially Audi’s Quattro all- wheel drive layout to the road.
    [Show full text]