CorporateVolkswagen was incorporated in 1937 by German Auto Association. The company always aimed at introducing innovative techniques of manufacturing cars and has initiated the necessary changes in the manufactured models according to market trends.
After such an experiment during 1938, about 336,000 people purchased different models offered by Volkswagen. Over the decades, the company went through many tribunals and trials. Today, Volkswagen is a successful car manufacturing company with Net Income of 741 million Euros during the financial year of 2005. At present, it is the leading diesel engine manufacturer.
Volkswagen is a Fortune 500 company.
Volkswagen has different models and different models are designed for different continents:The popular models offered by Volkswagen are as follows:
- Golf V
- Golf Plus
- Golf Variant
- Passat Variant
To fulfill customer's demands, Volkswagen has introduced diverse models and different models were marketed in different continents. The models were manufactured considering the local demands. For considerable number of years, Volkswagen did not manufacture utility vehicles but in accordance to the market demands, Volkswagen is presently manufacturing utility vehicles as well.
Race Touareg, the most powerful diesel vehicle was introduced in the year 2006 and this vehicle has high demand across different continents.
Volkswagen is a part of Volkswagen Group and the other associated companies are as follows:
- Volkswagen Co
PerformanceDuring the first three months of 2007,there has been 7.9 % growth in sale compared to the sale of same period of the last Financial Year.
At the end of Financial year 2005, Volkswagen had total revenue of 50,245 billion Euros. During the same FY ,Net Income of the company had been 741 million Euros.
During the Financial year of 2005,Porsche became 18.65 stakeholder of Volkswagen and on March 2007,Porsche took holdings of 30.9% of Volkswagen shares.
OrganizationVolkswagen is headed by Martin Winterkorn, Chairman of the Board of Management.
The company employs about 344,900 people.
Headquarter of Volkswagen is situated at Wolfsburg, Germany but many of the business operations are carried on from United States.
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