Volkswagen

Volkswagen is a German automobile manufacturer headquartered in Wolfsburg, Lower Saxony. It is best known for the classic Beetle and serves as the flagship brand of the Volkswagen Group, the world's largest automaker by global sales in 2016 and 2017. It was developed in 1937 by the Nazi Party's German Labour Front and relaunched as a global brand after WWII by British Army Officer Ivan Hirst. The group's major market, accounting for 40% of sales and profits, is China. Its name is derived from the German words Volk and Wagen, which signify "people's car" when combined.

Volkswagen's market success stems mostly from the choice to export the brand to the United Kingdom, which proved to be the best commercial option and resulted in the signing of contracts to sell vehicles to Switzerland, Belgium, Luxembourg, Sweden, Denmark, and Norway. By 1950, Volkswagen had become dependent on the export market, shipping over 27,000 cars to 17 countries. The Beetle had become a symbol of West German rebirth, and they have continued to market themselves as an emotive brand in order to preserve and extend their market share.

Volkswagen is kicking off the next phase of this transition with an improved "ACCELERATE" approach. Climate change, the growing speed of innovation in their business, and new competitors provide significant obstacles. Volkswagen has gone a long way from its wartime roots, thanks in large part to its international focus and highly targeted marketing strategy. Soaring sales in China, which now account for one-third of the company's income, have pushed its development. With the Chinese economy anticipated to decline, the corporation will definitely be looking to other growing areas for future revenue.

Founded: 1937
Headquarters: Wolfsburg, Germany
Website: https://www.volkswagen.de/