In 2010, the global economy had shown a slight recovery from the downfall of previous year, despite the expiry of government economic stimulus programs in many countries. The continued expansionary monetary policy and the rapid growth expansion in the emerging markets led to above-average growth of the global economy. High-export countries such as Germany benefited from the double-digit growth of global trade. The automotive industry as a whole recovered from previous year’s financial and economic crisis and riding on this upstream Volkswagen Group successfully strengthen its market position setting a new milestone with its output exceeding the seven million mark for the first time, an impressive increase of 13.7% vehicle deliveries. Basically, the Volkswagen Group is subdivided into two divisions which is Automotive Division that focus on the development of vehicles and engines, the production and sale of passenger cars, commercial vehicles, trucks and busses and the genuine parts business while the Financial Services Division’s provides financial solutions to its clientele such as dealer and customer financing, leasing, banking, insurance activities and lastly fleet management.
In year 2010, Volkswagen Group recorded an increased in unit sales of 15.4% year-on-year to 7.3 million vehicles while sales revenue was up by 20.6% to €126.9 billion. Table 1: Key figures by market
Vehicle sales Sales revenue
Thousand vehicles/ € million2010200920102009
Europe/ Remaining markets3,6173,41483,80475,203
Volkswagen Group7,278 6,310126,875105,187
As shown in the table above, Asia-Pacific region proved to be the growth driver (pioneers that spear-headed growth with strong positive GDP, high net savings rate struggling inflation= improved living standards). There is a significant increase in demand of...