The Volkswagen Group achieved its target of further increasing its market share in fiscal 2011. We captivated customers worldwide with our unique brand diversity, attractive models and innovative automotive financial services.

What you'll find in this chapter:
Business Development
Number of vehicles delivered to customers passes eight million mark for the first time.
Shares and Bonds
Volkswagen AG shares outperformed the overall market.
Results of Operations, Financial Position and Net Assets
Volkswagen Group again generates record results in 2011.
Summary
Summary of economic position of the Volkswagen Group.
Value added statement
The value added statement indicates the added value generated by a company in the past fiscal year as its contribution to the gross domestic product of its home country, and how it is appropriated.
Volkswagen AG
Vehicle sales rise again, driving sales and earnings gains.
Value-Enhancing Factors
Innovative, fascinating vehicles – developed and manufactured by an outstanding team.
Risk Report
Successful risk management thanks to effective systems.
Report on Expected Developments
Recovery in the automotive markets continues.