• Deliveries up by 21.4 percent
  • Sales turnover up 21.5 percent
  • Operative result almost doubled
  • Focus on internationalization

Volkswagen Commercial Vehicles have achieved new record values in the 2011 fiscal year in deliveries, sales turnover and results. Last year, Europe’s leading brand in light commercial vehicles delivered more than half a million vehicles worldwide, boosting turnover results to 8.985 billion Euro. Volkswagen Commercial Vehicles also raised operative results from the past fiscal year to 449 million Euro, with operative turnover yield up from 3.4 to five percent.

Dr. Wolfgang Schreiber, Speaker for the Board of Management, is keen to point out that “Volkswagen Commercial Vehicles continue to be on a sustained course of growth. The impressive results from the past year are proof positive of the great trust which our customers place in our products.”

Deliveries in 2011

For the first time ever, the company sold 528,810 light commercial vehicles worldwide last year (previous year: 435,700), 21.4 percent better than the previous year.

Top seller and driving force in the growth of the brand in 2011 was the Caddy. With 160,600 deliveries worldwide, the series was up 24.8 percent (previous year: 128,800).

In Europe, registrations were up by 27.1 percent to 132,000 vehicles, which for the first time puts the Caddy generation in lead position in its market segment. “With a market share of 21.8 percent and a lead of about 10,000 vehicles over the second-placed brand, we have established ourselves at the top in this fiercely competitive environment”, says Chairman of the Board Harald Schomburg. And Volkswagen Commercial Vehicles are determined to retain this pole position. “We are already exploiting the full market potential which other manufacturers, as newcomers in this segment, will still have to try and develop in the years to come”, says Schomburg. In Germany too, the Caddy is yet again the market leader, with deliveries at 53,700 and a market share of 49.3 percent.

The T5 series, with the models Transporter, Caravelle, Multivan, and California, achieved a worldwide rise of 5.2 percent to 155,800 deliveries in 2011 (previous year 148,100). 129,000 T5 were sold in Europe, 4.4 percent more than in 2010, with 56,000 delivered in Germany. The T5 was the unchallenged market leader in Europe in 2011 as well as in Germany, with market shares of 24.5 percent in Europe and 39.9 percent in Germany.

The Crafter likewise continued on its upward trend in 2011, and achieved growth of 5.7 percent to 39,600 units (previous year: 37,500). In Europe, Crafter sales were up by five percent, to around 32,000 vehicles, including the German market with about 12,000 sales.

The newcomer in the Volkswagen Commercial Vehicles product range, the Pickup Amarok, saw a threefold increase in worldwide sales in its first full sales year, at 66,500 units (previous year: 22,500). More than half of these went to South America, with 34,000 sales, doubling the results from the previous year. In Europe the Amarok achieved 14,000 deliveries, almost 12,000 more Volkswagen Pickups than in 2010. In Germany, the Amarok was the market leader for the first time in 2011, with a market share of 28.9 percent, and, at 4,200 deliveries, sales figures were doubled. The Amarok took first place in Austria too, with a 32.9 percent market share, and in Switzerland with 25.4 percent.

From the end of June 2012 the Amarok in the Dual Cab version will be produced at its home location of Hannover. The vehicles produced there will be delivered to Europe and Africa, while South America and the other markets will be serviced from Pacheco. “This will again allow us to improve our position in the competitive environment, and achieve unrestricted delivery capacities in the short term”, is Schreiber’s promise.

More than 1,000 people will be involved in the Amarok production in Hannover. “This means that our traditional plant in Hannover will remain with a high work load, productive, and profitable“, as Schreiber explains.

Deliveries of the Saveiro were up by 10.6 percent to 81,200 units (previous year: 73,400). At 25,100 vehicles sold, the T2 was 3.6 percent below its previous year’s figure of 26,100 units sold.

In 2011 Volkswagen Commercial Vehicles confirmed their top position in Europe in the segment of urban delivery vehicles, Transporter and Crafter. “This makes Volkswagen Commercial Vehicles the market leaders in Europe for the fifth time in succession – and we have even been able to develop our lead still further”, as Schomburg is keen to emphasize. Volkswagen Commercial Vehicles also achieved good sales in the region of Central and Eastern Europe, with 36,500 deliveries (+36.6 %), the Asia/Pacific region, with 11,700 Transporters sold (+48.2 %), and in South America, where 141,100 vehicles (+20.6 %) were handed over to customers. Schomburg again emphasized that, thanks to the excellent product range, the consistent focus on customers’ requirements by way of specialized dealers and importers, and the positive image of the brand, he foresees further clear growth potential for Volkswagen Commercial! Vehicles all over the world.

Results development in 2011

The financial figures reached new best-ever values in 2011. “It was the growth in sales that the Caddy and Amarok were able to achieve in particular which boosted sales earnings substantially compared to 2010”, explains Klaus-Dieter Schürmann, Member of the Brand Board for Finance and Information Technology.

Sales turnover for the brand grew by 21.5 percent to 8.985 billion Euro (previous year: 7.392 billion Euro). Operative result, at 449 million Euro, achieved a historic all-time high (previous year: 232 million Euro).

Schürmann emphasises that: “The excellent result is attributable to both the volume growth as well as to the fall in material costs thanks to improved purchasing performance.”
Net cash-flow, at 480 million Euro, was again clearly positive. Capital yield, at 17.5 percent, was above the minimum return on equity of nine percent.

“We are a company with powerful earnings and committed personnel, healthy processes, technically leading products, and a solid financial basis. These factors continue to provide us with the financial flexibility needed for us to be able to expand our position even further in the face of international competition in years to come”, as Schürmann pointed out.

Outlook for 2012

“In order to reduce the dependency on the traditional markets in Europe, for some years we have been successfully strengthening our sales activities on important growth markets outside Europe”, explains Schreiber. As from this month, for example, the Multivan will be on sale in China, and the Transporter and the Multivan in Indonesia. Other new markets in 2012 will be Nigeria, Angola and the Sub-Sahara. “Our top-quality products offer us every opportunity of exploiting the market potentials in those regions consistently and effectively, and pressing ahead with the internationalization of our brand, and without neglecting our core market in Europe”, Schreiber says. The middle to long-term goal at Volkswagen Commercial Vehicles is to raise the world market share from the present 5.4 percent to 10 percent, the Speaker for the Board added.

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