All Press Releases
This is an overview of press releases of the Volkswagen Group. To stay informed, users can subscribe to the press releases of Volkswagen Group via e-mail service.
Press Release
Volkswagen steps up development of Industrial Cloud
The Volkswagen Group is forging ahead with the integration of its plants into the Volkswagen Industrial Cloud. The aim is to further improve the efficiency of the plants and reduce production costs. The first three plants were already linked up in 2019. “In 2020, we intend to bring 15 further plants into the Cloud,” says Gerd Walker, Head of Production of the Volkswagen Group. Work on the project also continued consistently while production was suspended during the coronavirus crisis. “We are making good progress and significantly forcing the pace,” says Roy Sauer, Head of Enterprise & Platform Architecture of the Volkswagen Group. From 2016 to 2025, Volkswagen intends to boost the productivity of its plants by 30 percent and “our Industrial Cloud will be a key lever for achieving this objective,” says Walker. All in all, the Group expects cost savings totaling several billion euros when the data of all 124 plants can be evaluated in a standardized way. The Industrial Cloud is built on Amazon Web Services (AWS), and Siemens is the integration partner.
Press Release
Volkswagen Group’s business substantially impacted by Covid-19 pandemic in first quarter
The Volkswagen Group recorded a substantial impact on its business as a result of the global Covid-19 pandemic following the first three months of the current fiscal year. Deliveries to customers decreased by 23.0 percent compared to the same period of the previous year to 2.0 (2.6) million vehicles. Sales revenue fell by 8.3 percent from January to March to EUR 55.1 (60.0) billion. Operating profit before special items decreased significantly by 81.4 percent to EUR 0.9 (4.8) billion. In the previous year, special items as a result of the diesel crisis reduced profit by EUR –1.0 billion. There were no special items in the first quarter of 2020. The operating return on sales in the first quarter of 2020 was 1.6 percent (6.4 or 8.1 percent before special items). In addition to the fall in unit sales due to the drop in customer demand, turbulence in the commodity and capital markets caused the fair value measurement of commodity hedges to have a negative effect and also led to negative currency effects. Earnings before tax fell to EUR 0.7 (4.1) billion.
Press Release
Volkswagen AG withdraws 2020 full-year outlook due to business impacts from covid-19 pandemic
The ongoing Covid-19 pandemic has also had a significant impact on Volkswagen Group’s business. As a result, the automobile retail network has largely came to a standstill. The resulting decline in customer demand and supplier bottlenecks led to production stops within the Volkswagen Group. The aforementioned developments have a negative impact on the expected financial results of the
Volkswagen Group.
Press Release
Volkswagen Group China: Clear signs of business recovery
Volkswagen Group China’s operations are showing clear signs of business recovery. All 2,000 Volkswagen brand dealerships are now open again, with showroom traffic during the last weekend of March comparable to the same period last year. Over 95% of the dealerships of the other locally producing brands Audi and ŠKODA have also reopened. The SAIC VOLKSWAGEN joint venture plant in Changsha also resumed operations this week. The total number of Group facilities that have resumed operations has thus risen to 32 of the 33 car and component plants.
Press Release
Flexible quick charging stations launch in China
Volkswagen Group Components and the start-up Shanghai DU-POWER New Energy Technical Co., Ltd. plan to work together to produce flexible quick charging stations in China. An agreement to this effect was signed by representatives from both companies in Suzhou, China. Series production of the flexible quick charging stations is currently scheduled to start in the second half of 2020. Establishing production with a local partner is a key step in the rapidly growing electric vehicle market.
Press Release
Volkswagen extends suspension of production
The Volkswagen Passenger Cars brand, Volkswagen Commercial Vehicles and Volkswagen Group Components are extending the suspension of production at their German plants for a further five working days especially as a result of the continued fall in demand for vehicles and the challenges still faced by the supply chain. For a total of about 80,000 employees of Volkswagen AG, it is planned to end the resulting short-time working with the night shift of April 19 to 20. The plants affected are Dresden, Emden, Osnabrück, Wolfsburg and Zwickau as well as the Volkswagen Commercial Vehicles plant in Hanover, the plants of Volkswagen Group Components at Brunswick, Kassel, Salzgitter, Chemnitz and Hanover and the German plants of SITECH. At the same time, the company continues to prepare intensively for the resumption of production. In this context, the protection of employees will once again be significantly strengthened.
Press Release
Volkswagen Group donates protective face masks
The Volkswagen Group will be providing about 200,000 category FFP-2 and FFP-3 protec-tive face masks for public health protection in the near future. The donation is being made in close cooperation with Federal Minister of Health Jens Spahn. The city of Wolfsburg is also to receive further medical material.
Press Release
Volkswagen Group and its brands bring 2019 to successful conclusion
The Volkswagen Group brought fiscal year 2019 to a successful conclusion with improved financial results in almost all brands. Dr. Herbert Diess, Chairman of the Board of Management of Volkswagen Aktiengesellschaft, said, “2019 was a very successful year for the Volkswagen Group. We have laid vital groundwork for all relevant changes. 2020 is a very difficult year. The corona pandemic presents us with unknown operational and financial challenges. At the same time, there are concerns about sustained economic impacts. We will succeed in overcoming the corona crisis by pooling our strengths and with close cooperation and high morale in our Group.”
Press Release
Volkswagen presents Green Finance Framework
With the Green Finance Framework (GFF), the Volkswagen Group today presented further guidelines for sustainable financial instruments. In future, it will therefore be possible for investors to invest in a targeted fashion in sustainability projects of the Volkswagen Group such as e-mobility. A new corporate body, the Green Finance Committee, will select appropriate projects and can adapt the GFF to reflect changing requirements. Furthermore, regular reporting will ensure transparency in the use of funds. The objective is to ensure independent external verification of the use of funds.
Press Release
TRATON seeking to execute a squeeze-out of the non-controlling shareholders of MAN SE in accordance with merger law
Commercial vehicle producer TRATON SE (TRATON) intends to merge MAN SE (MAN) with TRATON in order to simplify the TRATON GROUP’s overall structure. In connection with this merger, TRATON plans to execute the procedure for transferring the shares held by the non-controlling shareholders of MAN to TRATON in consideration of payment of an appropriate cash settlement (squeeze-out in accordance with merger law). Consequently, the Executive Board of TRATON has today served on the Executive Board of MAN a proposal to commence negotiations for a merger agreement as well as a formal request to initiate proceedings for the execution of a squeeze-out in accordance with merger law.