Press Releases
Volkswagen and TraceTronic establish neocx – a joint venture for automated software integration
Volkswagen is strengthening its expertise in the integration of automotive software. At present, high-performance automotive functions can only be achieved by networking many individual software and hardware components. Integrating these components and testing the resulting assembly is a key development task for Volkswagen. As part of its ACCELERATE strategy, Volkswagen is seeking to grow automotive software integration and the digital customer experience as core competencies. The company has therefore established a joint venture with TraceTronic, a world-leading provider of solutions to test and integrate automotive software. Each partner holds 50 percent in the joint venture, named neocx, which will create a continuous integration/continuous testing (CI/CT) factory.
Volkswagen posts a strong first half
Volkswagen finished the first half of 2021 on a successful note thanks to efficient crisis management, strict cost discipline and systematic implementation of its ACCELERATE strategy. Despite the coronavirus pandemic and the semiconductor shortage, the number of vehicles delivered worldwide rose to around 2.7 million – 500,000 more than in the previous year. This increase was partly achieved through smart warehouse and supply management. Market share was also expanded in nearly all regions. Sales revenue climbed by 42 percent year-on-year to EUR 40.7 billion on the back of significant growth in sales volume (H1 2020: EUR 28.6 billion). Earnings improved by EUR 3.3 billion year-on-year to around EUR 1.8 billion, giving an operating return on sales of 4.4 percent.
The new Taigo makes its European debut
The stage is set for a new body shape from the Volkswagen brand: With the new compact crossover Taigo, Volkswagen is launching an SUV coupé on the European market for the first time. The front-wheel drive Taigo is a real crowd-pleaser with its trendy crossover body style, raised seating positions, pioneering connectivity and unrestricted suitability for everyday use. The rear of the five-seater car slopes backwards in the style of a coupé, without restricting headroom in the back seat. This sees Volkswagen expand the portfolio of the compact Polo (hatchback) and T-Cross (SUV) models built on the MQB platform with a third chassis variant, which has previously been primarily reserved for high-end models. Numerous latest-generation assistance systems guarantee optimum comfort and a high level of safety for all passengers. The Taigo is set to make its virtual European debut on Thursday 29 July at 8:00 a.m. CEST.
Volkswagen Group raises outlook for 2021 after a record result in the first half of the year
The Volkswagen Group continued its positive business performance and posted a record result despite challenging conditions in the first half of 2021. This positive development was driven in particular by the premium brands Audi and Porsche and by Volkswagen Financial Services. The impacts of the Covid-19 pandemic and global shortage of semiconductors were successfully contained. There was high customer demand for the Group’s attractive model range as markets continued to recover. As a result, deliveries increased by 27.9 percent to 5.0 (3.9) million vehicles over the weaker prior-year period, which was impacted by the pandemic. Sales revenue even rose more strongly by 34.9 percent to EUR 129.7 (96.1) billion. The operating result was EUR 11.4 (first half of 2020 before special items: EUR –0.8) billion, far exceeding the previous record of EUR 10.0 billion (before special items) from the pre-crisis year 2019. The operating return on sales was therefore at a strong 8.8 (first half of 2020 before special items: –0.8) percent. The higher earnings were mainly due to increased vehicle sales, improvements in the product mix and prices as well as positive effects from the valuation of raw material hedges. One-off restructuring expenses of EUR 0.7 billion had a negative impact. Work on ongoing fixed cost programs was vigorously pursued. The Automotive Division generated a very high adjusted net cash flow of EUR 12.3 (–2.3) billion and thus again demonstrated the great efficiency of its business model. The Division’s net liquidity rose further to a very solid level of EUR 35.0 billion. The acquisition of Navistar and its financial impact are not included in the figures. As a result of the extremely good business performance in the first half of the year, the Volkswagen Group has raised the outlook for its operating return on sales for full year 2021 by 0.5 percent to 6.0 to 7.5 percent.
Consortium of Volkswagen Group, Attestor Limited and Pon Holdings B.V. to launch takeover offer for Europcar
The Volkswagen Group is taking a major step forward in its NEW AUTO strategy to become a leading provider of individual mobility in the electric and fully connected age. In a consortium with London-based asset manager Attestor Limited and Dutch mobility provider Pon Holdings B.V., Volkswagen agreed to launch a recommended takeover offer for Europcar Mobility Group (“Europcar”). Europcar is the leading mobility service and rental car company in Europe with over 3,500 stations across 140+ countries and a fleet of over 350,000 vehicles in 2019, serving over 5 million customers per year. The minimum acceptance threshold for the takeover offer is 67% and existing shareholders holding 68% in Europcar have committed to accept the takeover offer.
Volkswagen shareholders formally approve actions of Board of Management and Supervisory Board and adopt resolution on dividend for 2020
The Annual General Meeting of Volkswagen Aktiengesellschaft took place today online for the second time due to the Covid-19 pandemic. The shareholders voted by a majority of 99.99 percent to approve the recommendation of the Board of Management and the Supervisory Board to pay the same dividend as in the previous two years of 4.80 EUR per ordinary share and 4.86 EUR per preferred share for fiscal year 2020. As in fiscal years 2018 and 2019, approximately 2.4 billion EUR will therefore be distributed to shareholders. The resolution on the formal approval of the actions of the members of the Board of Management and the Supervisory Board who held office in 2020 was passed.
CEO Herbert Diess at the Annual General Meeting: “With NEW AUTO, we will reinvent Volkswagen”
The Volkswagen Group considers itself well equipped for a zero-emission and autonomous future of mobility. “With our NEW AUTO strategy, we will reinvent Volkswagen by 2030," said CEO Herbert Diess at the virtual Annual General Meeting of the Volkswagen Group. "The cars on our roads will be sustainable, safe, smart and ultimately autonomous within the next ten years. Individual mobility has a bright future. With our strong brands and global technology platforms, we have a clear plan to play a leading role in the new world of mobility, too.”
Annual General Meeting 2021
The 61st Annual General Meeting will be broadcasted live on Thursday, July 22th 2021, from 09:15am – 12:30pm CEST.
Volkswagen Group more than doubles deliveries of all-electric vehicles in first half year
The Volkswagen Group has continued its successful electric offensive in the first half of 2021. The following new BEV models were launched in this period: Volkswagen ID.4, Volkswagen ID.6, ŠKODA Enyaq iV, Audi Q4 e-tron, Audi Q4 Sportback e-tron, Audi e-tron GT and Porsche Taycan Cross Turismo. In total, 170,939 BEV models were delivered throughout the world up to the end of June, more than twice as many as in the prior-year period (+165.2 percent). After 59,948 BEV had been delivered to customers in the first quarter (+78.4 percent compared with the previous year), deliveries increased significantly, as planned, in the second quarter to 110,991 units (+259.7 percent compared with the previous year). In the course of the year, the BEV ramp-up will further accelerate thanks to the expanded model range. The Group has also consistently expanded its portfolio of PHEV models. This vehicle category benefits from considerable customer demand, too. In the first half of the year, a total of 171,300 PHEV were delivered, more than three times as many as in the prior-year period (+204.2 percent).
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