Volkswagen Commercial Vehicles Achieves 4.9 Percent Increase in Worldwide Deliveries in Nine Months

In the first three quarters of this year Volkswagen Commercial Vehicles delivered 409,300 urban delivery vehicles, transporters and pickups to customers throughout the world. Compared to the corresponding period last year (January – September 2011: 390,000) this represents an increase of 4.9 percent.  Worldwide deliveries of the Amarok pickup were up by 23.9 percent to 58,700 vehicles (January – September 2011: 47,400). Crafter deliveries rose by 35.4 percent to 36,400 units (January – September 2011: 26,900). Deliveries of the T5 series increased in the first three quarters by 3.6 percent to 119,900 (January – September 2011: 115,800). Worldwide Caddy deliveries were down by 2.2 percent to 115,800 vehicles (January – September 2011: 118,400).
In Western Europe, including Germany, brand deliveries from January to September 2012 went up by 1.2 percent to 214,600 vehicles. Deliveries in Eastern Europe up to the end of September rose by 24.3 percent to 30,900 vehicles.
In the first nine months of 2012, Germany was Volkswagen Commercial Vehicles largest-volume market in Europe, with a growth of 2.7 percent to 93,700 customer deliveries.“Despite the tense general situation in the Eurozone, we have succeeded in maintaining our steady increase in deliveries. In this we continue to stand apart from the downward development of the European market as a whole, although we are aware of the difficult conditions”, emphasized Bram Schot, Member of the Executive Management for Sales and Marketing, Volkswagen Commercial Vehicles Brand.
In South America the brand delivered three percent more vehicles to customers than in the corresponding period of the previous year, with 108,100 units. Deliveries of the Saveiro were down by 6.5 percent to 58,100 (January – September 2011: 62,100) whereas the T2, with 20,500 deliveries, showed a five percent increase (January – September 2011: 19,500).
In Africa Volkswagen Commercial Vehicles boosted deliveries by 17.3 percent to 14,300 units and in the Asia-Pacific region, the brand achieved an increase of 59.8 percent, with a delivery volume of 13,300 vehicles.

VOLKSWAGEN AND PORSCHE FINALIZE CREATION OF INTEGRATED AUTOMOTIVE GROUP

Wolfsburg, Germany –  The creation of the Integrated Automotive Group between Volkswagen and Porsche was finalized on August 1 as planned. “The path is now finally clear for a bright future together. Even closer cooperation will enable us to significantly strengthen Volkswagen and Porsche, and further expand the Group’s product portfolio with fascinating new vehicles”, said Prof. Dr. Martin Winterkorn, Chairman of Volkswagen Aktiengesellschaft’s Board of Management, in Wolfsburg on Wednesday.

Under the structure developed jointly by Volkswagen Aktiengesellschaft and Porsche Automobil Holding SE (Porsche SE), Porsche SE contributed its indirect 50.1 percent holding in Porsche AG to Volkswagen Aktiengesellschaft effective August 1, 2012. Volkswagen thus holds 100 percent of the shares of Porsche AG via an intermediate holding company. The cash and share consideration of about €4.49 billion is based on the equity value of €3.88　billion for the remaining shares of Porsche　AG set out in the Comprehensive Agreement entered into in 2009, plus a number of adjustment items. Among other things, Porsche SE will be remunerated for dividend payments from its indirect stake in Porsche AG that it would have received, as well as for half of the present value of the net synergies realizable as a result of the accelerated integration, which amount to a total of approximately €320　million.

The accelerated integration of Porsche AG into the Volkswagen Group allows the implementation of Volkswagen　AG’s and Porsche　AG’s joint strategy more quickly. “The unique Porsche brand will continue to develop successfully under Volkswagen’s multibrand strategy and proven decentralized management structure. Porsche will retain its own identity and operational independence, just like all of the other Group brands”, said Winterkorn.

VW EYE TEST

Meet optometrist Dr. Heeney. As a lifelong Volkswagen fan, she decided to give her patients a little something different when testing their vision.

Can you spot the Volkswagen cars in her eye test?

Volkswagen shares soar after automaker announces deal to complete takeover of Porsche

Shares in Volkswagen AG soared higher on Thursday after Europe’s biggest automaker announced a deal to complete the takeover of sports car manufacturer Porsche by the end of the month, which the company said will result in savings of some €700 million ($880 million) per year.

Volkswagen’s shares were up 5.9 per cent at €135.75 in Frankfurt trading. The Wolfsburg-based company announced Wednesday night that Porsche will become a fully integrated brand as of Aug. 1 — joining others such as Audi, Volkswagen, Seat, Bugatti, Lamborghini and Bentley.

Volkswagen is to acquire the 50.1 per cent in Porsche’s capital that it doesn’t already hold from holding company Porsche SE for €4.46 billion plus one Volkswagen share. The arrangement allows it to book the acquisition as an internal reorganization, which is advantageous in tax terms.

Porsche failed in an attempt to take over the much larger VW in 2009 — loading itself with debt just as the global economy was entering its deepest recession since World War II following the 2008 financial crisis. Volkswagen emerged on top but the companies’ integration had been held up lately by legal issues.

“We will concentrate all our strength on the operative business and the solid, profitable growth of the company,” Volkswagen CEO Martin Winterkorn said Thursday, adding that the deal allows the companies to benefit “earlier than planned from the long-term synergies of about €700 million per year.”

The chief financial officer, Hans-Dieter Poetsch, said everyone would benefit from the deal because the savings it will produce “will lead to rising profit and so to rising tax payments.”

Volkswagen said that integrating Porsche’s highly profitable car business would have a positive impact on its earnings — but for this year, charges will largely offset that impact on operating profit.