Volkswagen group, founded in 1937 is the largest carmaker in Europe and one of world’s leading automobile manufacturers.
Headquartered in Wolfsburg, Germany, it employs more than 600000 people worldwide. The strong brand portfolio of covers almost all auto segments from motorcycles to heavy trucks and buses sold under various brands such as Volkswagen passenger cars, Audi, SEAT, Bentley, Skoda, Lamborghini, Ducati, MAN and Scania.
The group’s largest geographic market is Europe itself and Asia Pacific being the high growth market. They have a market share of 12.9% in the world and sells their products in 153 countries. With the automobile industry expected to grow positively till 2018, the group is investing heavily on its R&D efforts especially in hybrid electric and alternate fuel vehicles. The group runs 119 production plants in 20 European countries and another 11 countries in Europe, Asia and Africa. The worldwide production on a weekday is nearly 42000 vehicles. The company also has a financial services division that handles leasing, banking, customer financing and insurance activities.
Involvement in emission scandals last year has certainly impacted the group’s brand image. Followed by an enquiry by US Environmental Protection agency and California Air Resources Board, Volkswagen admitted that nearly 11 million of their cars had software that could fool the emission tests. This was followed by a drop in share prices of the group by 20% on Frankfurt stock exchange. In the past years, Volkswagen also had to recall several of its models due to technical and safety issues. With all this, all is not well with the Volkswagen group and they are facing a difficult time right now. Significant changes in regulation structure in countries where Volkswagen operates will have serious impact on its operations.
Sales : $246.23 Billion
Profit : $7.06 Billion
Employees : 610076
Market Cap : $73.1 Billion
Revenues and profits of 25 companies across various industries from Europe are selected, and weightages of 60% and 40% are given respectively. After calculating the final scores, the top brands are ranked.