There is an interesting story related to the creation of the Volkswagen AG brand. Back in 1934, in Germany in one of the rooms of the "Kaiserhof" hotel a famous German engineer Ferdinand Porsche met representatives of the German government. Porsche received an order to develop the first "people's car" within the shortest possible period of time, which in German sounded as "Volks Wagen". Afterwards, the car and the manufacturing company got the name "Volkswagen". The current Volkswagen AG organization is the largest automobile concern, owning such brands as Audi, Lamborghini, Bentley, Bugatti, SEAT, Skoda, Porsche, and others. In 2015, Volkswagen was called "The Most innovative car manufacturer of the decade" according to AutomotiveINNOVATIONS Award. The company managed to secure this award due to its technological developments, applied for manufacturing the brand's vehicles. One of the company's main innovations is the first seven-speed dual-clutch gearbox, introduced in batch manufacturing.
The headquarters is in Wolfsburg city. Volkswagen owns a local football club Verein für Leibesübungen Wolfsburg e.V.
The Volkswagen Concern has successfully completed the financial year 2017. Almost all the key indicators achieved the record values. Last year, 10.7 million customers all around the world – more than ever – decided on the concern’s models.
In 2017, the concern’s turnover reached the record level as well. The sales revenues amounted to 230.7 billion euros, exceeding the previous year’s indicator by 6.2%. The operating income was unprecedentedly high as well: it amounted to 17.0. It is the best indicator of the operating income, that Volkswagen has ever reached.
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