All Press Releases

Virtual reality (VR) is not just game-playing. At Volkswagen, VR is contributing to faster and more efficient development of vehicle models. VR developers such as David Kuri program the powerful software for it. The 26-year-old previously worked for an international computer game company. He is now contributing his specialist knowledge to Group IT's Virtual Engineering Lab.

Volkswagen Group China received the Cross-Cultural Art Award 2017 for its strong support of Deutschland 8, the largest and most comprehensive exhibition of German Contemporary Art ever held in China, and a series of cultural and artistic exchange projects at the 11th ART POWER 100 & the 1st DESIGN POWER 100 awards ceremony in Beijing. Art Power 100 was launched in 2007 to recognize outstanding artists and institutions, and has become one of the country’s top awards.

At the Annual General Meeting 2018, the shareholders of Volkswagen Aktiengesellschaft voted by a majority of 99.97 percent to approve the recommendation of the Board of Management and the Supervisory Board to pay a dividend of 3.90 (2,00) EUR per ordinary share and 3.96 (2.06) EURO per preferred share for fiscal year 2017. Approximately 2 billion EUR will therefore be distributed. In addition, the resolution on the formal approval of the actions of the members of the Board of Management and the Supervisory Board for fiscal year 2017 was passed by 93.18 percent of the ordinary shareholders represented at the Annual General Meeting.

After a very successful year in 2017 and a strong start to the current year, the Volkswagen Group is stepping up the pace of its comprehensive realignment under the leadership of its new CEO, Dr. Herbert Diess. “The Volkswagen Group is in robust shape in both operational and financial terms. Our strategy is gaining traction. We are systematically tackling the major automotive issues of the future. However, the longest part of our journey still lies ahead. The crucial years in our transformation have yet to come,” Diess said at the Annual General Meeting of Volkswagen Aktiengesellschaft in Berlin. As the speed of change in the auto industry continues to accelerate, the Volkswagen Group’s realignment based on Strategy 2025 must gather even greater momentum, Diess added. This is particularly the case for the cultural change at Volkswagen, which the new CEO believes is crucial for future corporate success. “In this regard, Volkswagen has to become more honest, more open, and more truthful. In other words: an upstanding corporate citizen,” the CEO underlined.

Volkswagen Truck & Bus has been able to increase its commercial vehicle sales considerably in the first three months of 20181. The Group’s sales volume came in at 53,220 vehicles, up 16% on the previous year.

The Volkswagen Group is off to a good start for the new fiscal year. Supported by record unit sales in the first quarter, Group sales revenue rose year-on-year from EUR 56.2 to EUR 58.2 billion. Operating profit decreased from EUR 4.4 to EUR 4.2 billion – the moderate decline is due, among other things, to the negative effect resulting from a change in the reporting of the valuation of derivatives of derivatives (IFRS 9). Without this effect, the adjusted earnings were up slightly year-on-year. In the period from January to March, the operating return on sales amounted to 7.2 percent. Additional significant provisions in connection with the diesel issue were not incurred in the first quarter of 2018, in addition there were significantly lower cash outflows in respect of this matter.

At today’s Volkswagen Group Media Event, held on the eve of the 2018 Beijing International Automotive Exhibition, Volkswagen Group demonstrated the company’s commitment to delivering outstanding People’s Mobility solutions to Chinese consumers. The company outlined its vision to be a leading player in a new era of smart, people-oriented, sustainable mobility solutions. To support this goal, through 2022, Volkswagen Group and its joint-venture partners will be making around 15 billion euros available for e-mobility, autonomous driving, digitalization and new mobility services. Ten auto models were unveiled at the event.

Connected vehicles, autonomous driving, digital automobile design, quantum computing, artificial intelligence within the company, blockchain technology, virtual reality configuration, ride sharing, live user experience and a world premiere – the Volkswagen Group is making CEBIT 2018 an innovation festival. At the trade fair which is being held in Hanover from June 11 to 15, 2018, the Group will be more prominent than ever before. At the Volkswagen Group stand, digitalization and IT experts will give visitors a comprehensive glimpse of the future of mobility and the Group’s latest digital technologies.