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 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 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.
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.
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.
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.
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.”
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).
Red is a popular colour for sporty top models. And now the ID.41 GTX is a vibrant new addition. Color & Trim Designer Mareike Hackbarth explains why red paintwork is such a good fit for Volkswagen models with power and performance.
SUVs are booming. Their drivers love the sense of space and the sporting driving pleasure. But is it still in keeping with the times in light of the impending climate disaster? Frank Bekemeier, Chief Technology Officer for Electric Mobility at Volkswagen, and Jens Obernolte, Head of Energy and Weight Management, explain how the ID.4 GTX reconciles environmental awareness and driving pleasure.
The specified fuel consumption and emission data have been determined according to the measurement procedures prescribed by law. Since 1st September 2017, certain new vehicles are already being type-approved according to the Worldwide Harmonized Light Vehicles Test Procedure (WLTP), a more realistic test procedure for measuring fuel consumption and CO2 emissions. Starting on September 1st 2018, the New European Driving Cycle (NEDC) will be replaced by the WLTP in stages. Owing to the more realistic test conditions, the fuel consumption and CO2 emissions measured according to the WLTP will, in many cases, be higher than those measured according to the NEDC. For further information on the differences between the WLTP and NEDC, please visit www.volkswagen.de/wltp.
We are currently still required by law to state the NEDC figures. In the case of new vehicles which have been type-approved according to the WLTP, the NEDC figures are derived from the WLTP data. It is possible to specify the WLTP figures voluntarily in addition until such time as this is required by law. In cases where the NEDC figures are specified as value ranges, these do not refer to a particular individual vehicle and do not constitute part of the sales offering. They are intended exclusively as a means of comparison between different vehicle types. Additional equipment and accessories (e.g. add-on parts, different tyre formats, etc.) may change the relevant vehicle parameters, such as weight, rolling resistance and aerodynamics, and, in conjunction with weather and traffic conditions and individual driving style, may affect fuel consumption, electrical power consumption, CO2 emissions and the performance figures for the vehicle.
Further information on official fuel consumption figures and the official specific CO2 emissions of new passenger cars can be found in the “Guide on the fuel economy, CO2 emissions and power consumption of new passenger car models”, which is available free of charge at all sales dealerships and from DAT Deutsche Automobil Treuhand GmbH, Hellmuth-Hirth-Str. 1, D-73760 Ostfildern, Germany and at www.dat.de.