The Volkswagen Group is one of the world's leading vehicle manufacturing companies in terms of sales and revenue. In 2022, its namesake brand Volkswagen held close to 6.7 percent of the global automotive market shares, second only to Japan-based Toyota. A year later, its luxury brand Audi ranked among the ten most valuable brands in the automotive sector along with Porsche, another one of the manufacturer's brands. As of June 2023, Audi was valued at 8.3 billion U.S. dollars, with Porsche recording a valuation of 16.1 billion. The group's 2022 financial performance reflects its position among the global automotive leaders: Between 2006 and 2022, Volkswagen AG had more than doubled its sales revenue, which was at its highest in 2022. The company's operating profits were also at their highest in 2022, but global market disruptions led to the group's deliveries falling to their lowest point between 2012 and 2022 in 2022. This seven percent year-over-year drop in deliveries was attributed to the COVID-19 lockdowns in China—where the group has various joint-ventures—and to the supply chain disruptions caused by Russia's war on Ukraine. This slump in deliveries was however not recorded across all segments of the company. Notably, Volkswagen Group's global battery-electric vehicle deliveries grew in 2022.
Volkswagen shifts its fuel type strategy
As of September 30, 2015, it was confirmed that some five million Volkswagen-branded cars, 2.1 million Audi vehicles, 1.2 million Skoda automobiles, 700,000 Seat cars, and 1.8 million VW commercial vehicles were fitted with a defeat device in their engines. These 10.8 million vehicles were thus affected by the Volkswagen emissions scandal. Seven years on, the company is invested in new drivetrain technologies. Volkswagen aimed to expand its electric car model range and tap into the growing European market for electric vehicles. This innovation is possible through the steady increase of its research and development spending to over 18.9 billion euros in 2022. That same year, the manufacturer had increased its global battery-electric vehicle sales by around 26.3 percent compared to its 2021 record. This spike was partly through selling its ID.4 model, which was the only European model ranked among the ten best-selling plug-in electric vehicles worldwide in 2022. Electric commercial vehicles were the manufacturer's least popular in terms of alternative fuel, with its brand MAN recording some 900 sales of battery-electric trucks in 2022.
Volkswagen's most successful brands
Although Volkswagen is the group's most prolific marque, the automotive company has acquired several other brands over the last few years. Volkswagen's most notable brands include Audi, Bentley, SEAT, Porsche, and Škoda. In addition to its commercial vehicle segment, the automaker finalized a deal to acquire U.S.-based Navistar and owns Scania and MAN, two European manufacturers of commercial vehicles and engines. The Volkswagen Group also holds stakes in the Ducati motorcycle brand.
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