VAG meaning in Business ?

Answer:

What is Volkswagen Audi Group mean?

The Volkswagen AG (German: [ˈfɔlksˌvaːgn̩] (listen)), known internationally as the Volkswagen Group, is a German multinational automotive manufacturing corporation headquartered in Wolfsburg, Lower Saxony, Germany, and since the late 2000s is a publicly-traded family business majority owned by Porsche SE, which in turn is half-owned but fully owned by the Austrian-German Porsche and Piëch family. It designs, manufactures, and distributes passenger and commercial vehicles, motorcycles, engines, and turbomachinery, and offers related services, including financing, leasing, and fleet management. In 2016, it was the world's largest automaker by sales, overtaking Toyota and keeping this title in 2017, 2018 and 2019, selling 10.9 million vehicles. It has maintained the largest market share in Europe for over two decades. It ranked seventh in the 2018 Fortune Global 500 list of the world's largest companies.

The Volkswagen Group sells passenger cars under the Audi, Bentley, Bugatti, Lamborghini, Porsche, SEAT, Škoda, RUF and Volkswagen marques; light commercial vehicles under the Volkswagen Commercial Vehicles brand; motorcycles under the Ducati brand; and heavy commercial vehicles via the marques of listed subsidiary Traton: MAN, Scania, Volkswagen Caminhões e Ônibus, and Navistar. It is divided into two primary divisions—the Automotive Division and the Financial Services Division—and as of 2008, had about 342 subsidiary companies. Volkswagen also has two major joint ventures in China (FAW-Volkswagen and SAIC Volkswagen). The company has operations in roughly 150 countries and operates 100 production facilities across 27 countries.

Volkswagen was founded in 1937, to manufacture the car that would become known as the Beetle. The company's production grew rapidly in the 1950s and 1960s, and in 1965, it acquired Auto Union, which subsequently produced the first postwar Audi models. Volkswagen launched a new generation of front-wheel drive vehicles in the 1970s, including the Passat, Polo, and Golf; the last became its bestseller. Volkswagen acquired a controlling stake in SEAT in 1986, making it the first non-German marque of the company, and first acquired control of Škoda in 1994, then of Bentley, Lamborghini, and Bugatti in 1998, then of Ducati, MAN, and Porsche in 2012, and finally of Traton in 2013. The company's operations in China have grown rapidly in the past decade with the country becoming its largest market. Since 1 January 2021, the Lower Saxony state owns a 20% share of Volkswagen.

Volkswagen Aktiengesellschaft is a public company and has a primary listing on the Frankfurt Stock Exchange, where it is a constituent of the Euro Stoxx 50 stock market index, and secondary listings on the Luxembourg Stock Exchange and SIX Swiss Exchange. It has been traded in the United States via American depositary receipts since 1988, currently on the OTC Marketplace. Volkswagen delisted from the London Stock Exchange in 2013. The government of Lower Saxony holds 12.7% of the company's shares, granting it, by law, 20% of the voting rights.

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