CORPORATE SOCIAL RESPONSIBILITY at VOLKSWAGEN COMBINING VALUE with VALUES Content
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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 -
Neuer Wilder
Unternehmen Neuer Wilder olfgang Bernhard (44) mag keine VW Der Marken-Chef Wolfgang Versteckspieler. Sie sind ihm zu- Wwider, die Planer und Entwick- Bernhard räumt auf: schnell, ler, die sich davonstehlen, wenn es an die wirkliche Arbeit geht. Die nur telefonieren, effizient, gnadenlos. Ein Kulturschock in Meetings sitzen und sich gegenseitig wichtige Folien zeigen. Er hat sie bei Mer- erschüttert Wolfsburg. cedes getroffen und bei Chrysler; er schimpft sie bevorzugt „Ver-Tschüsser“. Jetzt bekämpft er sie bei VW. Gleich bei einem der ersten Treffen An- fang Mai überraschte der Chef der Marken- gruppe VW seine Wolfsburger Produktions- und Entwicklungsexperten mit einer schockierenden Order: Alle für ein paar Tage ans Band! Alle raus ins Werk! Die Fer- tigung beschleunigen! Die Qualität verbes- sern! „Geh zur Quelle“, heißt das bei Toyota. Dort ist es Normalität. Bei VW verpuffen solche Vorstöße in der Regel. Bernhard aber meinte es ernst. Schon gegen sieben Uhr am nächsten Mor- gen kam Post vom Chef. Der Inhalt der E-Mails: ein detaillierter Plan für die dreitägigen Vor-Ort-Einsätze. Um di- rekt das nächste Zeichen zu setzen, missachtete Bernhard die Hierar- chiestufen. Er überging die mächtigen Bereichsleiter und verschickte die Botschaften 34 managermagazin 7/2005 FOTOS: JOCHEN LUEBKE/DDP/LLADO/PLAINPICTURE,/ PR/[M] MM-MONTAGE Unterrnehmen VW Zusammenhänge und Technik Mann der Extreme gleichermaßen detailliert beherrsche, Lauwarm sind nur die anderen: Wolfgang Bernhards Welt erinnert sich ein DaimlerChrysler-Mann. „Fast autistisch hat der unsere DE R PR IVATMAN N: Wolfgang Bernhard der Leitung des Mercedes-Vorstands Bedenken ignoriert“, schimpft ein (44) hat früher in den Ferien Straßen- Manfred Remmel, heute Chef des Auto- Betriebsrat. -
Volkswagen Aktiengesellschaft Wolfsburg, Germany As Issuer And
Dated 30 September 2010 This document constitutes four base prospectuses for the purposes of Article 5.4 of Directive 2003/71/EC: (i) the base prospectus of Volkswagen Aktiengesellschaft in respect of non-equity securities within the meaning of Art. 22 No. 6 (4) of the Commission Regulation (EC) No. 809/2004 of 29 April 2004 ("Non-Equity Securities"), (ii) the base prospectus of Volkswagen International Finance N.V. in respect of Non-Equity Securities, (iii) the base prospectus of VW Credit, Inc. in respect of Non- Equity Securities and (iv) the base prospectus of VW Credit Canada Inc./Crédit VW Canada, Inc. in respect of Non-Equity Securities (together, the "Debt Issuance Programme Prospectus" or the "Prospectus"). Volkswagen Aktiengesellschaft Wolfsburg, Germany as Issuer and as Guarantor for Notes issued by Volkswagen International Finance N.V. Amsterdam, The Netherlands VW Credit, Inc. Herndon, Virginia, USA (incorporated in Delaware) VW Credit Canada, Inc. / Crédit VW Canada, Inc. St.-Laurent, Québec, Canada € 25,000,000,000 Debt Issuance Programme Arranger Deutsche Bank Dealers Barclays Capital BayernLB BNP PARIBAS Crédit Agricole CIB Citi Commerzbank Deutsche Bank DZ BANK AG HSBC Landesbank Baden- ING Commercial Banking J.P. Morgan Württemberg Société Générale SEB Corporate & Investment The Royal Bank of Scotland Banking Application has been made to the Commission de Surveillance du Secteur Financier of the Grand Duchy of Luxembourg (the "Commission"), which is the Luxembourg competent authority for the purpose of Directive 2003/71/EC (the "Prospectus Directive"), for the approval of this Prospectus. Application has been made to the Luxembourg Stock Exchange for notes ("Notes") issued under this Prospectus to be admitted to trading on the regulated market of the Luxembourg Stock Exchange (as defined below) and to be listed on the official list of the Luxembourg Stock Exchange. -
Volkswagen AG Annual Report 2009
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The Volkswagen Beetle – a Success Story
The Volkswagen Beetle – A Success Story Table of Contents Page Feature – Beetle melancholy 1. Volkswagen Beetle – the sound, the humor, the smell, the feel, the l`mdtudq`ahkhsx, the image 2 VW Beetle, the real miracle 2. How it all began 6 3. Success story without end 7 4. VW Beetle ...and runs and swims and flies 11 5. Volkswagen – an international partner 14 VW Beetle through the years 6. Engine technology 16 7. Design and equipment 18 VW Beetle - Facts and figures 8. Chronology 22 9. Global production 26 10. Production locations 28 11. Sales figures by markets 29 12. Price development in Germany 30 Volkswagen Beetle – the sound, the humor, the smell, the feel, the maneuverability, the image The Sound. The typical sound of a Beetle. People of the Beetle Generation sit up and take notice when they hear it today. They are strangely touched, experience melancholy, as though remembering something long since lost. It is a sound as unmistakable as the Beetle's silhouette: it buzzes, it putters - all against a background of soothing fan noises – a feeling of euphoria which has underscored our mobility for decades and which was the accompaniment for our independence and for growing prosperity during those years. Beginning in the late 1940's and continuing into the early 1980's, the unmistakable noise of the Beetle left its mark on the sound backdrop of German streets. And in other places, as well, the air-cooled Beetle Boxer was the lead instrument in the noisy traffic concert. This is why Volkswagen advertising from the Doyle Dane Bernbach (DDB) agency at the end of the 1960's, advertising that is already legendary today, was titled „What the world loves about Germany"; it included a colorfully mixed collection of pictures: Heidelberg, a cuckoo clock, sauerkraut with dumplings, Goethe, a dachshund, the Lorelei – and a Beetle. -
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. -
News Release
Press Information THE BEETLE Introduction background 2 summary 3 production 5 Design objectives and exterior 6 interior 7 climate control 8 Engines 1.2-litre TSI 105 PS 9 1.4-litre TSI 150 PS 9 2.0-litre TDI 110 PS 10 2.0-litre TDI 150 PS 10 BlueMotion Technology 10 gearboxes 11 servicing 12 Running gear front and rear axle 13 electro-mechanical power steering 13 braking system, inc. ESP, HBA and XDS 13 hill hold function 13 Equipment highlights Beetle 14 Design and R-Line 15 Dune 16 Factory-fit options keyless entry 19 and technical highlights light and sight pack 19 bi-xenon headlights 20 parking sensors 20 Fender premium soundpack 20 telephone preparation 20 satellite navigation systems 20 Safety and security features 21 Euro NCAP test results 21 line-up with insurance groups 22 Warranties information 23 History original Beetle, 1938-2003 24 New Beetle, 1991-2011 27 Beetle, 2011- current 29 After hours telephone: Volkswagen Press and Public Relations Telephone 01908 601187 Mike Orford 07467 442062 Volkswagen (UK) www.vwpress.co.uk Scott Fisher 07554 773869 Yeomans Drive James Bolton 07889 292821 Blakelands Nicki Divey 07802 248310 Milton Keynes MK14 5AN Press Information THE BEETLE Volkswagen unveiled the latest generation Beetle in Shanghai on the eve of the city’s motor show in April 2011, marking a new era in this iconic car’s history. When the original was launched in 1938, it was known simply as ‘the Volkswagen’, quickly acquiring a raft of nicknames from across the world. Whatever the name, its popularity is not in question, with 21.5 million sold over 73 years. -
The Economics of East and West German Cars
The Economics of East and West German Cars Free Market and Command economies produce and distribute goods & services using vastly different methods. Prior to reading the documents, consider the following: a. What is the significance of car production for individuals and society? b. What is the significance of car ownership for individuals and society? c. How are cars distributed in society? In other words, who makes decisions about pricing and allocation of this good within society? Review and annotate the documents. Consider each document for its purpose, context, point of view and potential audience. What clues do the documents provide about life in East and West Germany, Cold War economic systems, and current economic issues? Use the documents to evaluate the outcomes associated with command and free market economies. Your response should include... ● A clear, well-stated claim/argument in response to the prompt. ● At least two well-developed body paragraphs in support of your claim. ● Analysis of at least seven documents to support your argument. West: Federal Republic of Germany (FRG) East: German Democratic Republic (GDR) 1 Document 1: “How German cars beat British motors - and kept going.” BBC August, 2013 In August 1945 the British Army sent a major called Ivan Hirst to take control of the giant Volkswagen plant in Wolfsburg, which had been built under the Nazis to produce 'people's cars' for the German masses. Ignoring his sceptical superiors, Hirst could see the potential amid the shattered debris of the Wolfsburg factory. Rebuilding Volkswagen, he thought, would be a step towards rehabilitating Germany as a prosperous, peaceful European ally. -
October 2019
1 OCTOBER 2019 Stealth Missile ISSUE 67/2019 2 Quarterly Newsletter of the Porsche Club of Tasmania A CAMS Affiliated Club Honorary Life Member – Klaus Bischof (2010) Life Member - Leon Joubert (2013) Club Honours - John Pooley (2016) Rob Sheers (2016) CONTENTS Committee…………………………………………… ...............................................3 Editorial………………………………………………. ...............................................4 The Inside Line……….………………………………….............................................5 President’s Report 2019 AGM……………………………...…………………………..6 New Members……………………………………….………………………...…….…...7 Events Calendar.........................………..................................................................8 PCT Club Awards Points 2019………………..………………………...………………9 Club Awards Points Scoring……. ........................................................................10 Karl Ferdinand Piech……………………………………..........................................11 Southern EMR 14 July…..….................................................................................16 Northern EMR 21 July...........................................................................................18 PCT Driver Training Day 28 July ..........................................................................19 N/NW AGM Run 25 August…………….........……………...................................…21 N/NW Run 15 September …..….…..................................................……………….22 Southern EMR To Geeveston 15 September.........................................................24 Porsche Technical: -
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. -
The New Golf Celebrates Its World Premiere
ALL ABOUT VOLKSWAGEN – THE EMPLOYEE MAGAZINE FOR OUR LOCATION | OCTOBER 2019 360WOLFSBURG° ID.31 – Series Ready for Launch The countdown is on: Series production of the ID.3, the first fully electric Volkswagen from the new ID. family, will begin at the Zwickau plant in early November. The conversions are running on schedule, with employees now assembling the last few robots. Some 8,000 members of staff have been working for months at the Saxony location to get ready to meet the electric age. This has seen them involved in measures such as high-voltage training courses to learn how to handle battery systems safely. → PAGE 21 The New Golf Celebrates Its World Premiere Comic Series Presentation in Wolfsburg: eighth generation even more digital and networked than ever before on Integrity 13 short stories clarify behavioral anchors in an easy-to-understand way. → PAGE 11 f any car can be other model has shaped called a bestseller, it’s our brand quite so power- I certainly the Golf. fully and permanently over Developed and honed the decades. It is synony- from generation to gen- mous with the Volkswagen eration, it has become name and everything a global constant. The Volkswagen stands for Volkswagen brand now around the world.” celebrates the world More than 35 million China: V-Space premiere of the eighth Ralf Brandstätter, Golf models have rolled generation Golf on the Chief Operating o the production line Opens evening of October 24. Officer (COO) over the past 45 years. The V-Space has now launched in The new Golf will be and Member of strengths of the Golf – and Beijing as the new headquarters of the Board at showcased in the Hafen what has made it a world- Volkswagen Group China. -
Driving Into Disaster – How the EU's 'Better Regulation' Agenda Fuelled
Driving Into Disaster How the EU’s Better Regulation agenda fuelled Dieselgate Introduction Dieselgate The ‘Dieselgate’ scandal erupted in September 2015 when United States (US) regulators discovered that German car maker Volkswagen was using ‘defeat device’ software in The European Parliament’s inquiry into ‘Dieselgate’ has revealed that problems with diesel engines to reduce vehicles’ emissions during testing, effectively manipulating emission tests went far beyond Volkswagen’s use of illegal defeat devices. It exposes the results. a culture of looking the other way: the European Commission and Member States turned a blind-eye to industry-wide abuse of the system for emission regulation, Other car manufacturers, including Fiat, Renault, Mercedes, Opel, and Ford, were and, in fact, even invited the car industry to shape the regulatory agenda and its subsequently also found to have been “optimising” test results,2 with on-the-road enforcement. This meant that the car industry’s needs were prioritised in the name of nitrous oxide emission levels 5-10 times higher than legal limits permit, exposing ‘better regulation’ and at the expense of the health and wellbeing of European citizens. European citizens to dangerously high levels of pollution.3 Despite clear evidence of the health impacts of diesel pollution, the car industry was able to delay the implementation of existing standards and to shape new rules in its What the European own favour. As a result, cities across the European Union are left choking, as toxic Parliament’s inquiry found: traffic fumes have led to an air pollution crisis. The Commission and Member States knew in 2004- The report also finds that Member States failed to 2005 that there were discrepancies between the apply financial or legal penalties on car manufacturers An estimated 75,000 people died prematurely due to emission test results obtained from diesel cars in in the aftermath of ‘Dieselgate’.