volkswagen group key volume figures

Volkswagen Group Key Volume Figures

1

2019 2020 absolute

Production 000 vehicles 2849 2793 - 56 - 20- excl Chinese joint ventures 1643 1716 + 72 + 44

Sales 2973 2846 - 127 - 43- excl Chinese joint ventures 1740 1731 - 9 - 05

Deliveries to customers 2970 2801 - 170 - 57- excl market China 1692 1612 - 80 - 47

Inventories 2171 1773 - 398 - 183- excl market China 1457 1165 - 292 - 200

Employees 000 6712 6626 - 86 - 13- excl Chinese joint ventures 5899 5845 - 54 - 09

1) Updated to reflect subsequent statistical trends 1)2) At Dec 31 2019 2) 12)

Q4 Change y-o-y

2)

2)

1)

1)

12)

12)


2

Q3 Q4 absolute

Production 000 vehicles 2445 2793 + 348 + 142- excl Chinese joint ventures 1422 1716 + 293 + 206

Sales 2575 2846 + 272 + 105- excl Chinese joint ventures 1534 1731 + 196 + 128

Deliveries to customers 2612 2801 + 189 + 72- excl market China 1542 1612 + 69 + 45

Inventories 1779 1773 - 6 - 03- excl market China 1116 1165 + 48 + 43


1) At Sept 30 2020 1)

2020 Change y-o-y

1)

1)

1)

1)


3

2019 2020 absolute

Production 000 vehicles 2849 2793 - 56 - 20- thereof Chinese joint ventures 1205 1077 - 128 - 106

Sales 2973 2846 - 127 - 43- thereof Chinese joint ventures 1233 1115 - 118 - 96

Deliveries to customers 2970 2801 - 170 - 57- thereof market China 1279 1189 - 90 - 70

Inventories 2171 1773 - 398 - 183- thereof market China 714 609 - 106 - 148

Employees 000 6712 6626 - 86 - 13- thereof Chinese joint ventures 813 781 - 32 - 40


Q4 Change y-o-y

2)

2)

1)

1)

12)

12)


4

2019 2020 absolute

Production 000 vehicles 2553 2445 - 108 - 42- thereof Chinese joint ventures 979 1023 + 44 + 45

Sales 2645 2575 - 70 - 26- thereof Chinese joint ventures 1026 1040 + 14 + 14

Deliveries to customers 2640 2612 - 28 - 11- thereof market China 1039 1069 + 31 + 30



1) Updated to reflect subsequent statistical trends 1)2) At Sept 30 2019 2) 12)

Q3 Change y-o-y

2)

2)

1)

1)

12)

12)

Volkswagen Group Key Financial Figures

5

Q4 Q4

euro million 2019 2020 absolute

Sales revenue 66015 67398 1383 21

Operating profit 3421 7982 4561 x

as of sales revenue 52 118 67 sup1

Financial result 297 1431 1133 x

Profit before tax 3718 9413 5695 x


Income tax expense -843 -2320 (1477) x

Tax rate in 227 246 (20) sup1

Profit after tax 2876 7093 4217 x

sup1 Percentage points

b(w) prior year

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2019 euro-1080 million 2020 euro-245 million

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09 Kosten der Umsatzerloumlse SE


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12 Sonstiges betr Ergebni SE2

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2019 x Mio euro 2020 x Mio euro 2019 eurox million 2020 eurox million

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6

Q4 Q4


Sales revenue 66015 67398 1383 21

Operating profit before special items 4501 8227 3726 828


Special items -1080 -245 835 773




Profit before tax before special items 4798 9658 4860 x




b(w) prior year

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Volkswagen Group Income Statement

7

Q4 Q4 b(w) py

euro million 2019 2020

Sales revenue 66015 1000 67398 1000 21

Cost of sales -53254 -807 -51780 -768 28

Gross profit 12761 193 15617 232 224

Distribution expenses -5885 -89 -5547 -82 57

Administrative expenses -2931 -44 -2185 -32 255

Other operating incomeexpenses -524 -08 97 01 x

Operating profit 3421 52 7982 118 x

Share of profloss of equ-acc invest 754 11 738 11 (21)

Interest resultOther fin result -456 -07 693 10 x

Financial result 297 05 1431 21 x

Profit before tax 3718 56 9413 140 x

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8

Q3 Q4 b(w) pq


Sales revenue 59355 1000 67398 1000 135

Cost of sales -48928 -824 -51780 -768 (58)

Gross profit 10427 176 15617 232 498

Distribution expenses -4508 -76 -5547 -82 (231)








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Q4 euro-245 million

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Q4 euro-117 million


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Q4 euro-362 million



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9

Q1 Q2 b(w) py


Sales revenue 55054 1000 41076 1000 (254)

Cost of sales -45824 -832 -37404 -911 184

Gross profit 9231 168 3672 89 (602)




Operating profit 904 16 -2394 -58 x

Share of profloss of equ-acc invest 129 02 1035 25 x

Interest resultOther fin result -351 -06 -675 -16 (923)

Financial result -222 -04 360 09 x

Profit before tax 682 12 -2034 -50 x

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Q2 euro-687 million

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Q2 euro46 million




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Q2 euro-641 million



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10

b(w) py


Sales revenue 252632 1000 222884 1000 (118)

Cost of sales -203490 -805 -183937 -825 96

Gross profit 49142 195 38947 175 (207)



Other operating incomeexpenses -1437 -06 -1466 -07 (20)

Operating profit 16960 67 9675 43 (430)


Interest resultOther fin result -1953 -08 -765 -03 608

Financial result 1396 06 1991 09 426

Profit before tax 18356 73 11667 52 (364)

January - December

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04 Wesent Finanzzahlen VW per

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15 Bilanz VW

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Key Figures by Brand and Business Field (Q4)

11

acute000 vehicleseuro million Q4 Q4 Q4 Q4 Q4 Q4 Q4 Q42019 2020 2019 2020 2019 2020 2019 2020

VW Passenger Cars 924 939 22960 23892 10133 10874 -496 1218Audi 300 335 14348 16710 7906 9243 1271 2456Skoda 257 253 4995 5043 2402 1912 485 288SEAT 151 165 2667 3155 1427 1696 197 -49Bentley 4 4 786 652 539 366 0 72Porsche Vehicles 72 84 7395 8604 6321 7219 1010 2137VW Com Vehicles 111 95 2717 2684 1062 1196 13 -92Scania Vehicles and Services 25 25 3507 3428 3392 3301 297 329MAN Commercial Vehicles 38 38 3488 3377 3304 3154 105 -171Power Engineering - - 1124 891 1123 890 68 -335VW Chinasup1 1233 1115Other -142 -207 -7983 -11079 19339 18412 -455 sup2 958 sup2VW Financial Service 10011 10043 9066 9134 925 1171Volkswagen Group 2973 2846 66015 67398 66015 67398 3421 7982thereofAutomotive Division 2973 2846 55442 56806 56499 57802 2435 6759of which Passenger Cars 2910 2783 47365 49179 48677 50455 2084 7039

Commercial Vehicles 63 63 6953 6736 6698 6456 345 101 Power Engineering - - 1124 891 1123 890 5 -381

FS Division 10573 10592 9516 9596 986 1223

sup1 The sales revenue and operating profit of the joint venture companies in China are not included in the figures for the Group The Chinese companies are accounted for using the equity method and recorded an operating profit (proportionate) of euro 970 (1238) millionsup2 Mainly intragroup items recognized in profit or loss in particular from the elimination of intercompany profits and including depreciation and amortization of identifiable assets as part of the purchase price allocation for Scania Porsche Holding Salzburg MAN and Porsche

Vehicle Sales Sales Revenue Sales to Operating ResultThird Parties

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10 Vertriebskosten






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29 Finanzergebnis

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Key Figures by Market

12

acute000 vehicleseuro million

Q4 2019 2020 2019 2020

EuropeRem markets 1226 1203 (19) 40074 39661 (10)

North America 219 239 93 10474 10965 47

South America 162 149 (78) 2865 2753 (39)

AsiaPacific 1367 1255 (82) 12664 13908 98

Total 2973 2846 (43) 66075 67287 18

Hedges sales revenue - - x -60 111 x

Volkswagen Group 2973 2846 (43) 66015 67398 21

Vehicle Sales Sales Revenue

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Automotive Division Key Financial Figures

13

Q4 Q4

euro million 2019 2020 absolute in

Gross cash flow 6774 10635 3861 570 + Change in working capital 3039 914 (2125) (699)= Cash flows from operating activities 9812 11549 1737 177

Cash flows from investing activities -7590 -6610 979 129 thereof

Invest in property plant and equipment -5821 -4643 1178 202 ndash as of sales revenue 105 82 23 Add to capitalized development costs -1504 -1991 (488) (324)Acquisition and disposal of equity invest -121 -92 29 239

Net cash flow 2223 4939 2716 x

Capital contributions FS divisions 11 -23 (34) x

Acquisitions of shares of minorities 0 -237 (237) x

Net liquidity 12-31-201912-31-2020 21276 26796 5520 259 sup1 Including allocation of consolidation adjustments between the Automotive and Financial Services divisions

b(w) prior year

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14

Q3 Q4



Cash flows from investing activities -3938 -6610 (2672) (679)thereof

Invest in property plant and equipment -2292 -4643 (2350) xndash as of sales revenue 47 82 (34)Add to capitalized development costs -1531 -1991 (460) (300)Acquisition and disposal of equity invest -184 -92 92 500

Net cash flow 6224 4939 (1285) (206)

Capital contributions FS divisions - -23 (23) x

Acquisitions of shares of minorities - -237 (237) x

Net liquidity 09-30-202012-31-2020 24848 26796 1949 78 Net liquidity 12-31-201912-31-2020 21276 26796 5520 259 sup1 Including allocation of consolidation adjustments between the Automotive and Financial Services divisions

b(w) prior quarter

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Q4 euro-245 million

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Key Figures by Brand and Business Field

Vehicle Sales Sales Revenue Sales to Operating Result Operating Result

Third Parties

acute000 vehicleseuro million Q3 Q4 Q3 Q4 Q3 Q4 Q3 Q4 Q4

2020 2020 2020 2020 2020 2020 2020 2020 2020 2020

VW Passenger Cars 762 939 18604 23892 8818 10874 522 1218 522 1218

Audi 266 335 12788 16710 7382 9243 864 2456 864 2456

Skoda 224 253 4493 5043 1826 1912 240 288 240 288

SEAT 122 165 2294 3155 1371 1696 -20 -49 -20 -49

Bentley 3 4 537 652 322 366 47 72 47 72

Porsche Vehicles 66 84 6290 8604 5614 7219 740 2137 740 2137

VW Com Vehicles 93 95 2436 2684 1151 1196 -27 -92 -27 -92

Scania Vehicles and Services 18 25 2825 3428 2709 3301 198 329 198 329

MAN Commercial Vehicles 33 38 2792 3377 2592 3154 -38 -171 -38 -171

Power Engineering - - 899 891 899 890 45 -335 45 -335

Porsche Hold Salzburg 137 145 5876 6226 5266 5637 248 135 248 135

VW Chinasup1 1040 1115

Other -51 -207 -5132 -11079 16963 18412 136 sup2 958 sup2 136 sup3 958 sup3

VW Financial Service 10531 10043 9708 9134 477 1171 477 1171

Volkswagen Group before special items 3183 7982 3183 7982

Special items - - - -

Volkswagen Group 2575 2846 59355 67398 59355 67398 3183 7982 3183 7982

thereof

Automotive Division 2575 2846 48285 56806 49198 57802 2642 6759 2642 6759

of which Passenger Cars 2524 2783 41821 49179 42997 50455 2535 7039 2535 7039

Commercial Vehicles 50 63 5565 6736 5302 6456 115 101 115 101

Power Engineering Business Area - - 899 891 899 890 -8 -381 -8 -381

FS Division 11070 10592 10158 9596 541 1223 541 1223

sup1 The sales revenue and operating profit of the joint venture companies in China are not included in the figures for the Group The Chinese companies are

accounted for using the equity method and recorded an operating profit (proportionate) of euro xxx (xxx) million

sup2 Mainly intragroup items recognized in profit or loss in particular from the elimination of intercompany profits and including depreciation and amortization of

identifiable assets as part of the purchase price allocation for Scania Porsche Holding Salzburg MAN and Porsche

Volkswagen Group other operating IncomeExpenses

Q3 Q4 b(w) prior quarter Q4 b(w) pq

Specialitems PY Specialitems

euro million 2020 2020 absolute 2020 2020 absolute

Total other operating incomeexpenses -382 97 479 x - -382 - 97 479 x

thereof

Foreign currency influences -183 19 202 x - -183 - 19 202 x

Other hedging 178 455 277 x - 178 - 455 277 x

Futures Commodities - - - x - - - - - x

Reversal of provisions 114 495 382 x - 114 - 495 382 x

Rental income 36 36 0 10 - 36 - 36 0 10

Net income from disposalswrite-ups 11 52 41 x - 11 - 52 41 x

Income from cost allocations 182 259 77 424 - 182 - 259 77 424

Valuation allowances on receivables -276 -355 (80) (289) - -276 - -355 (80) (289)

Other incomeexpenses -443 -863 (421) (950) - -443 - -863 (421) (950)

thereof litigation expenses -159 -663 (504) x - -159 - -663 (504) x

thereof gain of contribution AID to Argo - 113 113 x - - - 113 113 x

sup1 Incl special items from diesel issue 2019 eurox million 2020 eurox million


Volkswagen Group Cost of Sales



euro million 2020 in UE 2020 in UE absolute in 2020 2020 absolute

Total cost of sales 48928 499 51780 495 (2852) (58) - 48928 - 51780 (2852) (58)

thereof

Direct material and cost of goods purchased 26420 269 30529 292 (4109) (156) - 26420 - 30529 (4109) (156)

Warranty costs 1248 13 1652 16 (404) (324) - 1248 - 1652 (404) (324)

Personnel expenses 6868 70 7497 72 (628) (91) - 6868 - 7497 (628) (91)

Deferral of fixed costs 247 03 -1376 (13) 1622 x - 247 - -1376 1622 x

Material overhead expenses 3727 38 5792 55 (2065) (554) - 3727 - 5792 (2065) (554)

Investment overhead expenses 4067 41 4493 43 (426) (105) - 4067 - 4493 (426) (105)

thereof Depreciation 3906 40 4233 40 (328) (84) - 3906 - 4233 (328) (84)

Capitalized own research development costs -1516 (15) -1912 (18) 396 261 - -1516 - -1912 396 261

Cost of sales from Financial Services 8938 91 8518 81 420 47 - 8938 - 8518 420 47

thereof Residual values vehicles operate lease 4904 50 4404 42 501 102 - 4904 - 4404 501 102

thereof Interest expenses FS business 531 05 541 05 (9) (18) - 531 - 541 (9) (18)

thereof Depreciations on rental asset 2411 25 2517 24 (106) (44) - 2411 - 2517 (106) (44)

Services Accounting -745 (08) -2385 (23) 1641 x - -745 - -2385 1641 x

Other -326 (03) -1027 (10) 701 x - -326 - -1027 701 x




Q3 Q4 b(w) pq Q4 b(w) pq


euro million 2020 2020 2020 2020

Sales revenue 59355 1000 67398 1000 135 59355 1000 67398 1000 135

Cost of sales -48928 -824 -51780 -768 (58) - -48928 sup2 -824 - -51780 -768 (58)

Gross profit 10427 176 15617 232 498 10427 176 15617 232 498

Distribution expenses -4508 -76 -5547 -82 (231) - -4508 sup3 -76 - -5547 -82 (231)

Administrative expenses -2354 -40 -2185 -32 72 - -2354 -40 - -2185 -32 72

Other operating incomeexpenses -382 -06 97 01 x - -382 ⁴ -06 - 97 01 x

Operating profit 3183 54 7982 118 x 3183 54 7982 118 x

Share of profloss of equ-acc invest 855 14 738 11 (137) - 855 14 - 738 11 (137)

Interest resultOther fin result -432 -07 693 10 x - -432 -07 - 693 10 x

Financial result 423 07 1431 21 x - 423 07 - 1431 21 x

Profit before tax 3606 61 9413 140 x 3606 61 9413 140 x

Income tax expense -856 -14 -2320 -34 x

Profit after tax 2751 46 7093 105 x




Q3 Q4 b(w) prior quarter


Sales revenue 59355 67398 8042 135

Operating profit before special items 3183 7982 4799 x


Special itemssup2 - - - x













Schluumlssel 3000GJ Aktuell 3010GJ Aktuell 3021GJ Aktuell 3022GJ Aktuell 3023GJ Aktuell 3280GJ Aktuell 3030GJ Aktuell 3035GJ Aktuell 3027GJ Aktuell 3200GJ Aktuell 3210GJ Aktuell 3205GJ Aktuell 3270GJ Aktuell 3272GJ Aktuell 3340GJ Aktuell 3320GJ Aktuell 3325GJ Aktuell 3361GJ Aktuell 3415GJ Aktuell 3160GJ Aktuell 3330GJ Aktuell

GJ Aktuell GJ Aktuell GJ Aktuell GJ Aktuell GJ Aktuell GJ Aktuell GJ Aktuell GJ Aktuell GJ Aktuell GJ Aktuell GJ Aktuell GJ Aktuell GJ Aktuell GJ Aktuell GJ Aktuell GJ Aktuell GJ Aktuell GJ Aktuell GJ Aktuell GJ Aktuell GJ Aktuell

Position 3000 3010 3021 3022 3023 3280 3030 3035 3027 3200 3210 3205 3270 3272 3340 3320 3325 3361 3415 3160 3330

Gesamtergebnis 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

IB9999 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

299999 -436507758823 -45129364845 12419261221 0 -10635442015 -23072997805 6417339959 8336140485 -482769505002 -360905616744 -387995784154 -44554859665 -4262837325 -46376905702 -87849327348 -23503890829 -20557638019 1047811877419

299999

199999 412196456951 25711908174 249140985 0 2108693579 163456413199 -12479000498 20830977763 35974639744 -8632063388 4230395449 12643673581 -2952633834 53740778213 496534942 -3416238 35792730168 222228211731

199999

111999 87918650522 78301517505 5510315369 17788913326 1225415175 -15421894 1606556112 16401943839 1113758199 3479417537 2365659338 -3159342918 41242233823 31052376 3286699911 21037791299 -384613825

111999

111199 -1842676415 -1776296573 1016133625 31487 -66379842 1243852 -379751 -815181799 -721314419 -721339265 -24846 2960969865 -250225 -1069590363 3546580332 -381290201

111199

111110 169114321 198850219 -379751 7884 -29735898 1243852 -379751 353385203 345603839 345578993 -24846 84685269 -250225 19435617 -7304839 -381290201

111115 2762671932 2762671932 -106292829 -106292829 -106292829 2876284596 -7319835

111116

111120 -3754885315 -3739578019 0 -15307296 -672833

111130 -2001136713 -2001136713 3140816 -1062274173 -960625429 -960625429 -12632737 3570028328

111140 98155936 1002896008 1016513376 -21336648 -8823322

111150 0 0 0 0

111299 2500260528 2553495186 3118700291 -53234658 189210194 -8662238 -42909474 -42909474 -103015459 -103015459

111299

111210 2500260528 2553495186 3118700291 -53234658 189210194 -8662238 -42909474 -42909474 -103015459 -103015459

111399 48886092075 40494374233 156102462 6323884952 156102462 3637994005 -452273529 194128791 2393561439 -3136915382 34379404531 1447334863 5084923382

111399

111310 41893304229 33501586387 -1055297774 7911411795 -1055297774 -152661596 -1822880246 -237194767 1585685479 -7046789765 33208597616 9754838893 9960708261

111320 6992787846 6992787846 1211400236 -1587526843 1211400236 5164609965 1370606717 2178482677 80787596 3909874383 1170806915 -830750403 -4875784879

111330

111499 38374974334 37029944659 -185543167 11461879674 1345029675 -16665746 -143298951 13665754013 2287346147 2302378366 15032219 -22427536 4004874886 413789444 2908955411 12406287585 -3323624

111499

111410 21976128676 21617032746 -143298951 86544508 35909593 -16665746 -143298951 604430169 123805685 141480437 17674752 -22427536 351761694 273698912 4291896545 12249239943 -3323624

111420 1375409231 131265743 0 1244143488 0 263486 263486 263486 57408346 940409

111430 1507544118 15333650923 11375335166 -258209743 13058688984 2160905602 2158263069 -2642533 3653113192 140090532 -144034948 63006742

111440

111441

111470 0

111480 -52004753 -52004753 -42244216 0 0

112999 99667678855 99975771182 9864719694 2326593494 -4990869802 -27303196 9685358214 46004214018 16372446085 2517728787 8792195388 -205630844 6213220273 -45526088 31398203179 -5987408857 -116999887

112999

112110 39604787894 34845333036 3530626918 471096937 -1015211826 -176545 3351265438 1019122233 -592793325 718337646 7776169785 23018723 49525828 -126680899 21233470103 594492516 951410319

112120 15708324054 16637058091 2021158712 -54600738 -276824605 -10646249 2021158712 10816091619 9009350431 10047470521 103150351 -7698206 4889557075 -144008696 2482954697 -1390886179 -113691109

112299 46283638097 46263933895 -110662673 12680891261 19664019 -110662673 31207643387 -1173697413 12155569045 13329266458 131404449 -78983844 20825056 9341400239 358570436 1183145839

112299

112210 4634605751 46326393491 -118416496 12683657884 19664019 -118416496 31261237153 -112305042 12206268986 13329319406 131404449 1346452 20825056 9348195791 369418697 1183156019

112220 -62419413 -62459596 7753823 -2766623 7753823 -53593766 -50646993 -50699941 -52948 -92448364 -6795552 -10848261 -1018

112399 81912262326 82182178053 2234477667 15646492393 170104233 -14891497 2234477667 42724472379 9139608189 12241398072 3101789883 -35235581 2073950496 203533493 12993568591 16401052427 -375567877

112399

112310 13871433627 13464837716 1481389494 3569979339 150640456 -7882703 1481389494 6192981955 1053164444 2347170929 1294006485 16856116 1399430634 212595661 1847078642 1308455688 -78523114

112320 67139559892 67139559892 461164782 11821389749 461164782 3526297616 6778630028 8818557468 203992744 -361851837 846626434 9657784362 14901390587

112330 901577031 1578088669 291923391 255123305 19463777 -7008794 291923391 1268514264 1307813717 1075669675 -232144042 -7360089 -17203205 -8987646 1488705587 191206152 -297044763

112340 -308224 -308224 -74522 -74522

112410 -83841333516 -79952731893 218911907 -26417286359 -3888601623 218911907 -48935215697 -10021797 -16450526228 -16446534248 -720829282 804958 -14653190451 -21950638057 -1762297059

113999 47880745306 2857656824 388218702 45594491585 69014778 388218702 98595252 6883178 6883178 36034241 -26148

113999

113110 -371588304 119664462 3664126 4649211212 3664126 98595252 9111638 9111638

113111 -25476475 -25476475 0 0 -26148

113112 37520988 -15549 -15549 33670378 -15549

113113

113114 43983612862 -876414377 -928951016 38730714774 -928951016 36034241

113115 -003 1564117746 58361342

113120 0 0

113210 607924054 607924054

113410 3878040459 3869187038 1313521141 8853421 10653436 1313521141 -222846 -222846

114999 1951449077 -121052867 895956638 -77325459 -77325459 -77325459 -1776001534

114999

114110 3574911794 -104820895 4707340063 -77325459 -77325459 -77325459 -63717943

114120 -3861154401 0 -3861154401 0

114130 2237691684 -1105707775 49770976 -1138822104

115999 54815719765 74663291267 4304547195 0 -14092792061 -4632902 4304547195 411415979 8495799144 8495799144 0 -19605 7017805243 38143 -5484767646 2185645494 20248767469

115999

115199 66995265715 74906400125 362852014 0 -7083216659 362852014 -4229036607 175166667 175166667 -5832954269 684915683 45042787943

115199

115110 -3626714094 4284420316 413415317 -7083216659 413415317 0 -1184618 -19518323 0

115115 0 0 0 0 0 0

115125 0 0 0 0 0

115120 70621979809 70621979809 -50563303 0 -50563303 -4229036607 175166667 175166667 -5714492469 704434006 45042787943

115299 -1217954595 -243108858 3941695181 -7009575402 -4632902 3941695181 8343196397 8320632477 8320632477 0 -19605 7017805243 38143 348186623 1500729811 157444886747

115299

115210 0 2938462478 2579393343 638363074 0 2579393343 835456786 835456786 835456786 0 0 -2500000 0 359069135 0 170827978057

115220 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

115230 -10278762719 -3068950276 -7209812443 -4632902 -6909027 -35223933 -35223933 -19605 72677671 -100437836 1501954811 -11360285357

115240 -977344742 -189498904 575571 -787845838 575571 -4462436 128855 128855 38143 38143 -22497197 -122954753

115250 -1522564464 -1526969621 6474036 4405157 6474036 0 0 0 149981343 -12250 -16822000

115260 787025672 1791747162 1355252231 345314648 0 1355252231 149970875 -2176512

115270

115280 0 0 0 0

115290 -187899697 -187899697 -187899697

149999 129494684268 -35452593 129138895257 -11239407108 -27782082 -27782082 -27782082 1090216354 -76074243

149999

144999 28036207613 28036207613 -10613952582

144999

141999 24062736093 24062736093 -10890518052

141999

141110 24062736091 24062736091 -10890518052

141115 002 002

141150

141180

142999 3979161649 3979161649 27656547

142999

Financial Result



Total financial result 423 1431 1008 x

thereof

Share of prof amp loss of equity-acc invest 855 738 (117) (137)

Interest result -407 -520 (113) (278)

Other financial result -25 1213 1238 x


acute000 vehicleseuro million Vehicle Sales Sales Revenue

Q4 2020 2020 2020 2020

EuropeRem markets 1082 1203 112 36187 39661 96

North America 205 239 166 9915 10965 106

South America 139 149 71 2175 2753 266

AsiaPacific 1148 1255 93 11113 13908 251

Total 2575 2846 105 59390 67287 133


Volkswagen Group 2575 2846 105 59355 67398 135



Third Parties


2020 2020 2020 2020 2020 2020 2020 2020 2020 2020


Audi 266 335 12788 16710 7382 9243 864 2518 864 2456

Skoda 224 253 4493 5043 1826 1912 240 288 240 288

SEAT 122 165 2294 3155 1371 1696 -20 -49 -20 -49

Bentley 3 4 537 652 322 366 47 72 47 72


VW Com Vehicles 93 95 2436 2684 1151 1196 -27 -92 -27 -92









Special items - -245 - -


thereof





FS Division 11070 10592 10158 9596 541 1223 541 1223


accounted for using the equity method and recorded an operating profit (proportionate) of euro 970 (1227) million



Research and Development Costs


euro million 0 2020 2020 absolute

Total research and development

costs 3496 3693 (197) (56)

- as of sales revenuesup1 72 65 07 sup2

Capitalized development costs 1531 1991 460 300

as of total expense 438 539 101 sup2

+ Amortization of capitalized

development costs 1139 1281 (142) (124)

= Research and development costs

recognized in the income statement 3104 2983 121 39


sup1 Automotive Division


Automotive Division Change in Working Capitalsup1



Total 3981 914 (3066) (770)

Change in inventories 1379 272 (1108) (803)

Change in receivables -930 1828 2758 x

Change in liabilities 2907 -2338 (5245) x

Change in other provisions 715 1195 480 671

Change in leasing and rental assets

(excluding depreciation) 23 -135 (159) x

Change in financial

services receivables -115 92 207 x

sup1 Including allocation of consolidation adjustments between the Automotive and Financial Services divisions

gepruumlft am 03022021 AT

Key Financial Figures Passenger Cars Divisionsup1



Gross cash flow 5454 10216 4762 873

+ Change in working capital 4199 -344 (4542) x

= Cash flows from operating activities 9652 9872 220 23

Cash flows from investing activities -3684 -5944 (2259) (613)

thereof

Invest in property plant and equipment -2096 -4224 (2128) x

ndash as of sales revenue 50 86 (36)

Add to capitalized development costs -1483 -1885 (402) (271)

Acquisition and disposal of equity invest -168 64 231 x

Net cash flow 5968 3929 (2040) (342)

Capital contributions FS divisions CV PE - -23 (23) x


Net liquidity 09-30-202012-31-2020 25608 26847 1239 48

Net liquidity 12-31-201912-31-2020 19878 26847 6969 351

sup1 Including allocation of consolidation adjustments between the Automotive Division and Commercial Vehicles Power Engineering

03022021 gepruumlft AT

Key Financial Figures Automotive Divisionsup1



Gross cash flow 6182 10635 4453 720

+ Change in working capital 3981 914 (3066) (770)



thereof




Acquisition and disposal of equity invest -184 -92 92 500

Net cash flow 6224 4939 (1285) (206)



Net liquidity 09-30-202012-31-2020 24848 26796 1949 78

Net liquidity 12-31-201912-31-2020 21276 26796 5520 259



Share of the result of equity-accounted investments



Total 855 738 (117) (137)

thereof

SAIC-Volkswagen Groupsup1 385 197 (188) (489)

FAW-Volkswagen 456 441 (15) (34)

Other Chinese Companiessup2 97 232 135 x

Sinotruk (Hong Kong) Ltd 86 3 (83) (962)

There Holding -7 -1 6 878

Rheinmetall M V 1 4 3 x

Mobility Trader Holding Ltd -127 -37 90 706

Argo -34 -44 (10) (281)

Navistar -10 -34 (24) x

Northvoltsup3 -15 -21 (6) (408)

Elimination of unrealized profit 38 -57 (95) x

sup1 SAIC-Volkswagen Autom Comp Ltd und SAIC-Volkswagen Sales Company Ltd Shanghai incl consolidation effects

sup2 Volkswagen FAW Engine Co Ltd Shanghai VW Powertrain VW-FAW Platform Company Ltd Volkswagen (Anhui) Automotive (former JAC VW Automotive)

MOS Intelligent Connectivity Technology Co Ltd Anhui Jianghuai Automobile Group Holdings Ltd

sup3 Northvolt Zwei Verwaltungs-GmbH Northvolt Zwei GmbH amp Co KG NorthVolt AB

Financial Result





Interest result -407 -520 (113) (278)

Interest income 200 157 (43) (217)

Interest expenses -607 -677 (70) (115)

Interest result on other liabilitiessup2 -285 -203 (82) (288)

Result on interest derivativessup2 28 -15 43 x


thereof

Valuation effects on put options and compensation rights - - - x

Exchange rate changes of receivables and liabilities 20 -63 (83) x

Net income from equity investments -72 -286 (214) x

Net income from securities and fundssup1 42 139 97 x

Currency Other derivatives -43 1318 1361 x

thereof Valuation -158 923 1081 x

thereof Realization 115 395 280 x

sup1 Including earnings from sale


before special items

Q3 Q4 b(w) prior quarter Q3 Q4 b(w) pq



Total other operating incomeexpenses -382 97 479 x - -382 -362 458 841 x

thereof


Other hedging 178 455 277 x - 178 - 455 277 x


Reversal of provisions 114 495 382 x - 114 -7 502 389 x

Rental income 36 36 0 10 - 36 - 36 0 10




Other incomeexpenses -443 -863 (421) (950) - -443 -355 -509 (66) (149)

thereof litigation expenses -159 -663 (504) x - -159 -353 -310 (151) (953)

thereof Other expenses-Labour costs from restructuring -22 -316 (294) x

thereof gain of contribution AID to Argo - 113 113 x - - - - - x






thereof


Other hedging 178 455 277 x - 178 - 455 277 x


Reversal of provisions1 114 495 382 x - 114 -7 502 389 x

Rental income 36 36 0 10 - 36 - 36 0 10




Other incomeexpenses2 -443 -863 (421) (950) - -443 -355 -509 (66) (149)



thereof gain of contribution AID to Argo - - - x - - - 113 113 x

sup1 Incl special items from diesel issue Q4 euro-7 million


Volkswagen Group Administrative Expenses



Total administrative expenses 2354 2185 169 72

thereof

Personnel costs 1383 1413 (30) (21)

Material overhead expenses 1007 1253 (246) (245)

Other administrative expenses -36 -481 445 x

thereof DepreciationInvest overh exp 183 221 (38) (209)

Volkswagen Group Distribution Expenses



Total distribution expenses 4508 5547 (1039) (231)

thereof


Sales Expenses 1229 1861 (632) (514)

thereof Incentives 160 142 18 111

Advertising and sales promotion 997 1701 sup2 (704) (707)


Other distribution costs 1244 1153 sup3 92 74

thereof Deferral of fixed costs in sales orga 78 -329 407 x

DepreciationInvest overhead expenses 196 290 (94) (478)

Other direct costs of sale 354 358 (4) (10)

Freight-out packaging-shipping costs 456 603 (148) (324)

sup2 incl Loyalty Program euro XXX million

sup3 incl indirect residual value risks dealer incentives euro XXX million






Total cost of sales 48928 x 09 Kosten der Umsatzerloumlse 51780 x (2852) (58) - 48928 -117 51897 (2969) (61)

thereof

Direct material and cost of goods purchased 26420 x 09 Kosten der Umsatzerloumlse 30529 x (4109) (156) - 26420 - 30529 (4109) (156)

Warranty costs 1248 x 09 Kosten der Umsatzerloumlse 1652 x (404) (324) - 1248 -27 1678 (431) (345)

Personnel expenses 6868 x 09 Kosten der Umsatzerloumlse 7497 x (628) (91) - 6868 - 7497 (628) (91)

Deferral of fixed costs 247 x 09 Kosten der Umsatzerloumlse -1376 x 1622 x - 247 - -1376 1622 x

Material overhead expenses 3727 x 09 Kosten der Umsatzerloumlse 5792 x (2065) (554) - 3727 - 5792 (2065) (554)

Investment overhead expenses 4067 x 09 Kosten der Umsatzerloumlse 4493 x (426) (105) - 4067 - 4493 (426) (105)

thereof Depreciation 3906 x 09 Kosten der Umsatzerloumlse 4233 x (328) (84) - 3906 - 4233 (328) (84)

Capitalized own research development costs -1516 x 09 Kosten der Umsatzerloumlse -1912 x 396 261 - -1516 - -1912 396 261

Cost of sales from Financial Services 8938 x 09 Kosten der Umsatzerloumlse 8518 x 420 47 - 8938 - 8518 420 47

thereof Residual values vehicles operate lease 4904 x 09 Kosten der Umsatzerloumlse 4404 x 501 102 - 4904 - 4404 501 102

thereof Interest expenses FS business 531 x 09 Kosten der Umsatzerloumlse 541 x (9) (18) - 531 - 541 (9) (18)

thereof Depreciations on rental asset 2411 x 09 Kosten der Umsatzerloumlse 2517 x (106) (44) - 2411 - 2517 (106) (44)

Services Accounting -745 x 09 Kosten der Umsatzerloumlse -2385 x 1641 x - -745 - -2385 1641 x

Other -332 x 09 Kosten der Umsatzerloumlse -1033 x 701 x - -326 -90 -943 616 x






thereof


Warranty costs1 1248 x 09 Kosten der Umsatzerloumlse 1652 x (404) (324) - 1248 -27 1678 (431) (345)












Other2 -326 x 09 Kosten der Umsatzerloumlse -1027 x 701 x - -332 -90 -943 611 x





Q3 Q4 b(w) pq Q3 Q4 b(w) pq


euro million 2020 2020 2020 2020

Sales revenue 59355 1000 67398 1000 135 59355 1000 67398 1000 135

Cost of sales -48928 -824 -51780 -768 (58) - -48928 -824 117 -51897 -770 (61)

Gross profit 10427 176 15617 232 498 10427 176 15500 230 487

Distribution expenses -4508 -76 -5547 -82 (231) - -4508 -76 - -5547 -82 (231)


Other operating incomeexpenses -382 -06 97 01 x - -382 -06 -362 458 07 x











euro million 2020 2020 2020 2020

Sales revenue 59355 1000 67398 1000 135 59355 1000 67398 1000 135

Cost of sales1 -48928 -824 -51780 -768 (58) - -48928 sup2 -824 117 -51897 -770 (61)

Gross profit 10427 176 15617 232 498 10427 176 15500 230 487



Other operating incomeexpenses2 -382 -06 97 01 x - -382 ⁴ -06 -362 458 07 x








sup1 Incl special items from diesel issue Q4 euro117 million





Sales revenue 59355 67398 8042 135



Special itemssup2 - -245 (245) x

Operating profit2 3183 7982 4799 x















Sales revenue 59355 67398 8042 135
















Inhaltsverzeichnis

01 Deckblatt



05 GuV


10 Vertriebskosten






21 Cash-Flow Pkw


24 F amp E Kosten




29 Finanzergebnis

Bilanz_GuV_Akt

Bilanz_GuV_Vgl

Bilanz 3112

Cashflow KK GJ

Cashflow KK Vgl

Umsatz Dritte GJ

Umsatz Dritte Vgl

Umsatz Dritte GJ VQ

Absatz MG GJ

Absatz MG Vgl

Absatz Marken GJ

Vorstandscharts

4 Quartal 2020 zu 3 Quartal 2020

5 Lauf



Third Parties


2019 2020 2019 2020 2019 2020 2019 2020 2019 2020

VW Passenger Cars 924 939 22960 23892 10133 10874 -496 1218 -496 1218

Audi 300 335 14348 16710 7906 9243 1271 2456 1271 2456

Skoda 257 253 4995 5043 2402 1912 485 288 485 288

SEAT 151 165 2667 3155 1427 1696 197 -49 197 -49

Bentley 4 4 786 652 539 366 0 72 0 72


VW Com Vehicles 111 95 2717 2684 1062 1196 13 -92 13 -92


MAN Commercial Vehicles 38 38 3488 3377 3304 3154 105 -171 105 -171




Other -142 -207 -7983 -11079 19339 18412 -455 sup2 958 sup2 -455 sup3 958 sup3


Volkswagen Group before special items 3421 7982

Sspecial items - -


thereof




Power Engineering Business Area - - 1124 891 1123 890 5 -381 5 -381

FS Division 10573 10592 9516 9596 986 1223 986 1223






Q4 Q4 b(w) prior year Q4 b(w) py




thereof


Other hedging -332 455 787 x - -332 - 455 787 x


Reversal of provisions 412 495 83 203 - 412 - 495 83 203

Rental income 36 36 0 02 - 36 - 36 0 02

Net income from disposalswrite-ups 909 52 (857) (943) - 909 - 52 (857) (943)

Income from cost allocations 334 259 (75) (224) - 334 - 259 (75) (224)

Valuation allowances on receivables -25 -355 (330) x - -25 - -355 (330) x

Other incomeexpenses -1828 -863 965 528 - -1828 - -863 965 528

thereof litigation expenses -2066 -663 1403 679 - -2066 - -663 1403 679

thereof gain of contribution AID to Argo 2 113 111 x - 2 - 113 111 x







Total cost of sales 53254 x 09 Kosten der Umsatzerloumlse 51780 x 1473 28 - 53254 - 51780 1473 28

thereof


Warranty costs 1990 x 09 Kosten der Umsatzerloumlse 1652 x 338 170 - 1990 - 1652 338 170

Personnel expenses 8547 x 09 Kosten der Umsatzerloumlse 7497 x 1050 123 - 8547 - 7497 1050 123

Deferral of fixed costs -1919 x 09 Kosten der Umsatzerloumlse -1376 x (543) (283) - -1919 - -1376 (543) (283)

Material overhead expenses 6423 x 09 Kosten der Umsatzerloumlse 5792 x 630 98 - 6423 - 5792 630 98




Cost of sales from Financial Services 8366 x 09 Kosten der Umsatzerloumlse 8518 x (153) (18) - 8366 - 8518 (153) (18)

thereof Residual values vehicles operate lease 4275 x 09 Kosten der Umsatzerloumlse 4404 x (128) (30) - 4275 - 4404 (128) (30)

thereof Interest expenses FS business 673 x 09 Kosten der Umsatzerloumlse 541 x 133 197 - 673 - 541 133 197


Services Accounting -2079 x 09 Kosten der Umsatzerloumlse -2385 x 306 147 - -2079 - -2385 306 147

Other -1141 x 09 Kosten der Umsatzerloumlse -1027 x (114) (100) - -1141 - -1027 (114) (100)




Q4 Q4 b(w) py Q4 b(w) py


euro million 2019 2020 2019 2020

Sales revenue 66015 1000 67398 1000 21 66015 1000 67398 1000 21

Cost of sales -53254 -807 -51780 -768 28 - -53254 sup2 -807 - -51780 -768 28

Gross profit 12761 193 15617 232 224 12761 193 15617 232 224

Distribution expenses -5885 -89 -5547 -82 57 - -5885 sup3 -89 - -5547 -82 57













Q4 Q4 b(w) prior year


Sales revenue 66015 67398 1383 21


















Position 3000 3010 3021 3022 3023 3280 3030 3035 3027 3200 3210 3205 3270 3272 3340 3320 3325 3361 3415 3160 3330

Gesamtergebnis 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

IB9999 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

299999 -436507758823 -45129364845 12419261221 0 -10635442015 -23072997805 6417339959 8336140485 -482769505002 -360905616744 -387995784154 -44554859665 -4262837325 -46376905702 -87849327348 -23503890829 -20557638019 1047811877419

299999

199999 412196456951 25711908174 249140985 0 2108693579 163456413199 -12479000498 20830977763 35974639744 -8632063388 4230395449 12643673581 -2952633834 53740778213 496534942 -3416238 35792730168 222228211731

199999

111999 87918650522 78301517505 5510315369 17788913326 1225415175 -15421894 1606556112 16401943839 1113758199 3479417537 2365659338 -3159342918 41242233823 31052376 3286699911 21037791299 -384613825

111999

111199 -1842676415 -1776296573 1016133625 31487 -66379842 1243852 -379751 -815181799 -721314419 -721339265 -24846 2960969865 -250225 -1069590363 3546580332 -381290201

111199

111110 169114321 198850219 -379751 7884 -29735898 1243852 -379751 353385203 345603839 345578993 -24846 84685269 -250225 19435617 -7304839 -381290201

111115 2762671932 2762671932 -106292829 -106292829 -106292829 2876284596 -7319835

111116

111120 -3754885315 -3739578019 0 -15307296 -672833

111130 -2001136713 -2001136713 3140816 -1062274173 -960625429 -960625429 -12632737 3570028328

111140 98155936 1002896008 1016513376 -21336648 -8823322

111150 0 0 0 0

111299 2500260528 2553495186 3118700291 -53234658 189210194 -8662238 -42909474 -42909474 -103015459 -103015459

111299

111210 2500260528 2553495186 3118700291 -53234658 189210194 -8662238 -42909474 -42909474 -103015459 -103015459

111399 48886092075 40494374233 156102462 6323884952 156102462 3637994005 -452273529 194128791 2393561439 -3136915382 34379404531 1447334863 5084923382

111399

111310 41893304229 33501586387 -1055297774 7911411795 -1055297774 -152661596 -1822880246 -237194767 1585685479 -7046789765 33208597616 9754838893 9960708261

111320 6992787846 6992787846 1211400236 -1587526843 1211400236 5164609965 1370606717 2178482677 80787596 3909874383 1170806915 -830750403 -4875784879

111330

111499 38374974334 37029944659 -185543167 11461879674 1345029675 -16665746 -143298951 13665754013 2287346147 2302378366 15032219 -22427536 4004874886 413789444 2908955411 12406287585 -3323624

111499

111410 21976128676 21617032746 -143298951 86544508 35909593 -16665746 -143298951 604430169 123805685 141480437 17674752 -22427536 351761694 273698912 4291896545 12249239943 -3323624

111420 1375409231 131265743 0 1244143488 0 263486 263486 263486 57408346 940409

111430 1507544118 15333650923 11375335166 -258209743 13058688984 2160905602 2158263069 -2642533 3653113192 140090532 -144034948 63006742

111440

111441

111470 0

111480 -52004753 -52004753 -42244216 0 0

112999 99667678855 99975771182 9864719694 2326593494 -4990869802 -27303196 9685358214 46004214018 16372446085 2517728787 8792195388 -205630844 6213220273 -45526088 31398203179 -5987408857 -116999887

112999

112110 39604787894 34845333036 3530626918 471096937 -1015211826 -176545 3351265438 1019122233 -592793325 718337646 7776169785 23018723 49525828 -126680899 21233470103 594492516 951410319

112120 15708324054 16637058091 2021158712 -54600738 -276824605 -10646249 2021158712 10816091619 9009350431 10047470521 103150351 -7698206 4889557075 -144008696 2482954697 -1390886179 -113691109

112299 46283638097 46263933895 -110662673 12680891261 19664019 -110662673 31207643387 -1173697413 12155569045 13329266458 131404449 -78983844 20825056 9341400239 358570436 1183145839

112299

112210 4634605751 46326393491 -118416496 12683657884 19664019 -118416496 31261237153 -112305042 12206268986 13329319406 131404449 1346452 20825056 9348195791 369418697 1183156019

112220 -62419413 -62459596 7753823 -2766623 7753823 -53593766 -50646993 -50699941 -52948 -92448364 -6795552 -10848261 -1018

112399 81912262326 82182178053 2234477667 15646492393 170104233 -14891497 2234477667 42724472379 9139608189 12241398072 3101789883 -35235581 2073950496 203533493 12993568591 16401052427 -375567877

112399

112310 13871433627 13464837716 1481389494 3569979339 150640456 -7882703 1481389494 6192981955 1053164444 2347170929 1294006485 16856116 1399430634 212595661 1847078642 1308455688 -78523114

112320 67139559892 67139559892 461164782 11821389749 461164782 3526297616 6778630028 8818557468 203992744 -361851837 846626434 9657784362 14901390587

112330 901577031 1578088669 291923391 255123305 19463777 -7008794 291923391 1268514264 1307813717 1075669675 -232144042 -7360089 -17203205 -8987646 1488705587 191206152 -297044763

112340 -308224 -308224 -74522 -74522

112410 -83841333516 -79952731893 218911907 -26417286359 -3888601623 218911907 -48935215697 -10021797 -16450526228 -16446534248 -720829282 804958 -14653190451 -21950638057 -1762297059

113999 47880745306 2857656824 388218702 45594491585 69014778 388218702 98595252 6883178 6883178 36034241 -26148

113999

113110 -371588304 119664462 3664126 4649211212 3664126 98595252 9111638 9111638

113111 -25476475 -25476475 0 0 -26148

113112 37520988 -15549 -15549 33670378 -15549

113113

113114 43983612862 -876414377 -928951016 38730714774 -928951016 36034241

113115 -003 1564117746 58361342

113120 0 0

113210 607924054 607924054

113410 3878040459 3869187038 1313521141 8853421 10653436 1313521141 -222846 -222846

114999 1951449077 -121052867 895956638 -77325459 -77325459 -77325459 -1776001534

114999

114110 3574911794 -104820895 4707340063 -77325459 -77325459 -77325459 -63717943

114120 -3861154401 0 -3861154401 0

114130 2237691684 -1105707775 49770976 -1138822104

115999 54815719765 74663291267 4304547195 0 -14092792061 -4632902 4304547195 411415979 8495799144 8495799144 0 -19605 7017805243 38143 -5484767646 2185645494 20248767469

115999

115199 66995265715 74906400125 362852014 0 -7083216659 362852014 -4229036607 175166667 175166667 -5832954269 684915683 45042787943

115199

115110 -3626714094 4284420316 413415317 -7083216659 413415317 0 -1184618 -19518323 0

115115 0 0 0 0 0 0

115125 0 0 0 0 0

115120 70621979809 70621979809 -50563303 0 -50563303 -4229036607 175166667 175166667 -5714492469 704434006 45042787943

115299 -1217954595 -243108858 3941695181 -7009575402 -4632902 3941695181 8343196397 8320632477 8320632477 0 -19605 7017805243 38143 348186623 1500729811 157444886747

115299

115210 0 2938462478 2579393343 638363074 0 2579393343 835456786 835456786 835456786 0 0 -2500000 0 359069135 0 170827978057

115220 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

115230 -10278762719 -3068950276 -7209812443 -4632902 -6909027 -35223933 -35223933 -19605 72677671 -100437836 1501954811 -11360285357

115240 -977344742 -189498904 575571 -787845838 575571 -4462436 128855 128855 38143 38143 -22497197 -122954753

115250 -1522564464 -1526969621 6474036 4405157 6474036 0 0 0 149981343 -12250 -16822000

115260 787025672 1791747162 1355252231 345314648 0 1355252231 149970875 -2176512

115270

115280 0 0 0 0

115290 -187899697 -187899697 -187899697

149999 129494684268 -35452593 129138895257 -11239407108 -27782082 -27782082 -27782082 1090216354 -76074243

149999

144999 28036207613 28036207613 -10613952582

144999

141999 24062736093 24062736093 -10890518052

141999

141110 24062736091 24062736091 -10890518052

141115 002 002

141150

141180

142999 3979161649 3979161649 27656547

142999

Financial Result




thereof


Interest result -278 -520 (242) (871)




Q4 2019 2020 2019 2020


North America 219 239 93 10474 10965 47

South America 162 149 (78) 2865 2753 (39)

AsiaPacific 1367 1255 (82) 12664 13908 98

Total 2973 2846 (43) 66075 67287 18





Third Parties


2019 2020 2019 2020 2019 2020 2019 2020 2019 2020

VW Passenger Cars 924 939 22960 23892 10133 10874 633 1423 -496 1218

Audi 300 335 14348 16710 7906 9243 1271 2518 1271 2456

Skoda 257 253 4995 5043 2402 1912 485 288 485 288

SEAT 151 165 2667 3155 1427 1696 197 -49 197 -49

Bentley 4 4 786 652 539 366 0 72 0 72


VW Com Vehicles 111 95 2717 2684 1062 1196 13 -92 13 -92









Sspecial items -1080 -245 - -


thereof





FS Division 10573 10592 9516 9596 986 1223 986 1223









costs 3609 3693 (84) (23)














Total 3039 914 (2125) (699)


Change in receivables 1426 1828 402 282

Change in liabilities -3360 -2338 1023 304

Change in other provisions 1350 1195 (155) (115)


(excluding depreciation) -29 -135 (106) x

Change in financial

services receivables 299 92 (207) (692)


03022021 AT




Gross cash flow 5908 10216 4308 729



Cash flows from investing activities -6951 -5944 1007 145

thereof

Invest in property plant and equipment -5344 -4224 1120 210

ndash as of sales revenue 113 86 27




Capital contributions FS divisions CV PE 14 -23 (37) x


Net liquidity 12-31-201912-31-2020 19878 26847 6969 351






Gross cash flow 6774 10635 3861 570




thereof








Net liquidity 12-31-201912-31-2020 21276 26796 5520 259






Total 754 738 (16) (21)

thereof


FAW-Volkswagen 347 441 93 269


Sinotruk (Hong Kong) Ltd - 3 3 x


Rheinmetall M V -65 4 69 x

Mobility Trader Holding Ltd - -37 (37) x

Argo - -44 (44) x

Navistar 9 -34 (43) x

Northvoltsup3 -7 -21 (14) x

Elimination of unrealized profit -178 -57 121 679





Financial Result





Interest result -278 -520 (242) (871)



Interest result on other liabilitiessup2 -185 -203 18 97

Result on interest derivativessup2 -8 -15 7 856


thereof



Net income from equity investments -195 -286 (91) (469)

Net income from securities and fundssup1 -28 139 167 x


thereof Valuation 16 923 907 x

thereof Realization -92 395 487 x




Q4 Q4 b(w) prior year Q4 Q4 b(w) py



Total other operating incomeexpenses -524 97 621 x -1376 852 -362 458 (393) (462)

thereof


Other hedging -332 455 787 x - -332 - 455 787 x


Reversal of provisions 412 495 83 203 29 383 -7 502 119 310

Rental income 36 36 0 02 - 36 - 36 0 02




Other incomeexpenses -1828 -863 965 528 -1404 -424 -355 -509 (85) (200)

thereof litigation expenses -2066 -663 1403 679 -1404 -661 -353 -310 352 532


thereof gain of contribution AID to Argo 2 113 111 x - - - - - x






thereof


Other hedging -332 455 787 x - -332 - 455 787 x


Reversal of provisions1 412 495 83 203 29 383 -7 502 119 310

Rental income 36 36 0 02 - 36 - 36 0 02




Other incomeexpenses2 -1828 -863 965 528 -1404 -424 -355 -509 (85) (200)



thereof gain of contribution AID to Argo - - - x - 2 - 113 111 x

sup1 Incl special items from diesel issue 2019 euro29 million 2020 euro-7 million






thereof

Personnel costs 1664 1413 251 151

Material overhead expenses 1714 1253 460 269

Other administrative expenses -447 -481 34 76





Total distribution expenses 5885 5547 338 57

thereof


Sales Expenses 2454 1861 593 242

thereof Incentives 60 142 (82) x

Advertising and sales promotion 2339 1701 sup2 638 273


Other distribution costs 736 1153 sup3 (417) (566)

thereof Deferral of fixed costs in sales orga -394 -329 (65) (165)

DepreciationInvest overhead expenses 335 290 45 135










Total cost of sales 53254 x 09 Kosten der Umsatzerloumlse 51780 x 1473 28 -296 53550 -117 51897 1652 31

thereof


Warranty costs 1990 x 09 Kosten der Umsatzerloumlse 1652 x 338 170 8 1982 -27 1678 304 153












Other -1154 x 09 Kosten der Umsatzerloumlse -1033 x (121) (105) -303 -851 -90 -943 92 108






thereof


Warranty costs1 1990 x 09 Kosten der Umsatzerloumlse 1652 x 338 170 8 1982 -27 1678 304 153












Other2 -1141 x 09 Kosten der Umsatzerloumlse -1027 x (114) (100) -303 -851 -90 -943 92 108


sup2 Incl special items from diesel issue 2019 euro-303 million 2020 euro-90 million



Q4 Q4 b(w) py Q4 Q4 b(w) py


euro million 2019 2020 2019 2020

Sales revenue 66015 1000 67398 1000 21 66015 1000 67398 1000 21

Cost of sales -53254 -807 -51780 -768 28 296 -53550 -811 117 -51897 -770 31

Gross profit 12761 193 15617 232 224 12465 189 15500 230 243

Distribution expenses -5885 -89 -5547 -82 57 - -5885 -89 - -5547 -82 57


Other operating incomeexpenses -524 -08 97 01 x -1376 852 13 -362 458 07 (462)

Operating profit 3421 52 7982 118 x 4501 68 8227 122 828










euro million 2019 2020 2019 2020

Sales revenue 66015 1000 67398 1000 21 66015 1000 67398 1000 21

Cost of sales1 -53254 -807 -51780 -768 28 296 -53550 sup2 -811 117 -51897 -770 31

Gross profit 12761 193 15617 232 224 12465 189 15500 230 243



Other operating incomeexpenses2 -524 -08 97 01 x -1376 852 ⁴ 13 -362 458 07 (462)








sup1 Incl special items from diesel issue 2019 euro296 million 2020 euro117 million

2 Incl special items from diesel issue 2019 euro-1376 million euro 2020 euro-362 million




Sales revenue 66015 67398 1383 21



Special items -1080 -245 835 773
















Sales revenue 66015 67398 1383 21



Special itemssup2 -1080 -245 835 773













Inhaltsverzeichnis

01 Deckblatt



05 GuV


10 Vertriebskosten






21 Cash-Flow Pkw


24 F amp E Kosten




29 Finanzergebnis

Bilanz_GuV_Akt

Bilanz_GuV_Vgl

Bilanz 3112

Cashflow KK GJ

Cashflow KK Vgl

Umsatz Dritte GJ

Umsatz Dritte Vgl

Umsatz Dritte GJ VQ

Absatz MG GJ

Absatz MG Vgl

Absatz Marken GJ

Vorstandscharts


5 Lauf



Third Parties


2019 2020 2019 2020 2019 2020 2019 2020 2019 2020


Audi 300 335 14348 16710 7906 9243 1271 2456 1271 2456

Skoda 257 253 4995 5043 2402 1912 485 288 485 288

SEAT 151 165 2667 3155 1427 1696 197 -49 197 -49

Bentley 4 4 786 652 539 366 0 72 0 72


VW Com Vehicles 111 95 2717 2684 1062 1196 13 -92 13 -92









Sspecial items - -


thereof





FS Division 10573 10592 9516 9596 986 1223 986 1223










thereof


Other hedging -332 455 787 x - -332 - 455 787 x



Rental income 36 36 0 02 - 36 - 36 0 02














thereof




















euro million 2019 2020 2019 2020

Sales revenue 66015 1000 67398 1000 21 66015 1000 67398 1000 21

Cost of sales -53254 -807 -51780 -768 28 - -53254 sup2 -807 - -51780 -768 28

Gross profit 12761 193 15617 232 224 12761 193 15617 232 224
















Sales revenue 66015 67398 1383 21


















Position 3000 3010 3021 3022 3023 3280 3030 3035 3027 3200 3210 3205 3270 3272 3340 3320 3325 3361 3415 3160 3330

Gesamtergebnis 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

IB9999 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

299999 -436507758823 -45129364845 12419261221 0 -10635442015 -23072997805 6417339959 8336140485 -482769505002 -360905616744 -387995784154 -44554859665 -4262837325 -46376905702 -87849327348 -23503890829 -20557638019 1047811877419

299999

199999 412196456951 25711908174 249140985 0 2108693579 163456413199 -12479000498 20830977763 35974639744 -8632063388 4230395449 12643673581 -2952633834 53740778213 496534942 -3416238 35792730168 222228211731

199999

111999 87918650522 78301517505 5510315369 17788913326 1225415175 -15421894 1606556112 16401943839 1113758199 3479417537 2365659338 -3159342918 41242233823 31052376 3286699911 21037791299 -384613825

111999

111199 -1842676415 -1776296573 1016133625 31487 -66379842 1243852 -379751 -815181799 -721314419 -721339265 -24846 2960969865 -250225 -1069590363 3546580332 -381290201

111199

111110 169114321 198850219 -379751 7884 -29735898 1243852 -379751 353385203 345603839 345578993 -24846 84685269 -250225 19435617 -7304839 -381290201

111115 2762671932 2762671932 -106292829 -106292829 -106292829 2876284596 -7319835

111116

111120 -3754885315 -3739578019 0 -15307296 -672833

111130 -2001136713 -2001136713 3140816 -1062274173 -960625429 -960625429 -12632737 3570028328

111140 98155936 1002896008 1016513376 -21336648 -8823322

111150 0 0 0 0

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111299

111210 2500260528 2553495186 3118700291 -53234658 189210194 -8662238 -42909474 -42909474 -103015459 -103015459

111399 48886092075 40494374233 156102462 6323884952 156102462 3637994005 -452273529 194128791 2393561439 -3136915382 34379404531 1447334863 5084923382

111399

111310 41893304229 33501586387 -1055297774 7911411795 -1055297774 -152661596 -1822880246 -237194767 1585685479 -7046789765 33208597616 9754838893 9960708261

111320 6992787846 6992787846 1211400236 -1587526843 1211400236 5164609965 1370606717 2178482677 80787596 3909874383 1170806915 -830750403 -4875784879

111330

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111499

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111420 1375409231 131265743 0 1244143488 0 263486 263486 263486 57408346 940409

111430 1507544118 15333650923 11375335166 -258209743 13058688984 2160905602 2158263069 -2642533 3653113192 140090532 -144034948 63006742

111440

111441

111470 0

111480 -52004753 -52004753 -42244216 0 0

112999 99667678855 99975771182 9864719694 2326593494 -4990869802 -27303196 9685358214 46004214018 16372446085 2517728787 8792195388 -205630844 6213220273 -45526088 31398203179 -5987408857 -116999887

112999

112110 39604787894 34845333036 3530626918 471096937 -1015211826 -176545 3351265438 1019122233 -592793325 718337646 7776169785 23018723 49525828 -126680899 21233470103 594492516 951410319

112120 15708324054 16637058091 2021158712 -54600738 -276824605 -10646249 2021158712 10816091619 9009350431 10047470521 103150351 -7698206 4889557075 -144008696 2482954697 -1390886179 -113691109

112299 46283638097 46263933895 -110662673 12680891261 19664019 -110662673 31207643387 -1173697413 12155569045 13329266458 131404449 -78983844 20825056 9341400239 358570436 1183145839

112299

112210 4634605751 46326393491 -118416496 12683657884 19664019 -118416496 31261237153 -112305042 12206268986 13329319406 131404449 1346452 20825056 9348195791 369418697 1183156019

112220 -62419413 -62459596 7753823 -2766623 7753823 -53593766 -50646993 -50699941 -52948 -92448364 -6795552 -10848261 -1018

112399 81912262326 82182178053 2234477667 15646492393 170104233 -14891497 2234477667 42724472379 9139608189 12241398072 3101789883 -35235581 2073950496 203533493 12993568591 16401052427 -375567877

112399

112310 13871433627 13464837716 1481389494 3569979339 150640456 -7882703 1481389494 6192981955 1053164444 2347170929 1294006485 16856116 1399430634 212595661 1847078642 1308455688 -78523114

112320 67139559892 67139559892 461164782 11821389749 461164782 3526297616 6778630028 8818557468 203992744 -361851837 846626434 9657784362 14901390587

112330 901577031 1578088669 291923391 255123305 19463777 -7008794 291923391 1268514264 1307813717 1075669675 -232144042 -7360089 -17203205 -8987646 1488705587 191206152 -297044763

112340 -308224 -308224 -74522 -74522

112410 -83841333516 -79952731893 218911907 -26417286359 -3888601623 218911907 -48935215697 -10021797 -16450526228 -16446534248 -720829282 804958 -14653190451 -21950638057 -1762297059

113999 47880745306 2857656824 388218702 45594491585 69014778 388218702 98595252 6883178 6883178 36034241 -26148

113999

113110 -371588304 119664462 3664126 4649211212 3664126 98595252 9111638 9111638

113111 -25476475 -25476475 0 0 -26148

113112 37520988 -15549 -15549 33670378 -15549

113113

113114 43983612862 -876414377 -928951016 38730714774 -928951016 36034241

113115 -003 1564117746 58361342

113120 0 0

113210 607924054 607924054

113410 3878040459 3869187038 1313521141 8853421 10653436 1313521141 -222846 -222846

114999 1951449077 -121052867 895956638 -77325459 -77325459 -77325459 -1776001534

114999

114110 3574911794 -104820895 4707340063 -77325459 -77325459 -77325459 -63717943

114120 -3861154401 0 -3861154401 0

114130 2237691684 -1105707775 49770976 -1138822104

115999 54815719765 74663291267 4304547195 0 -14092792061 -4632902 4304547195 411415979 8495799144 8495799144 0 -19605 7017805243 38143 -5484767646 2185645494 20248767469

115999

115199 66995265715 74906400125 362852014 0 -7083216659 362852014 -4229036607 175166667 175166667 -5832954269 684915683 45042787943

115199

115110 -3626714094 4284420316 413415317 -7083216659 413415317 0 -1184618 -19518323 0

115115 0 0 0 0 0 0

115125 0 0 0 0 0

115120 70621979809 70621979809 -50563303 0 -50563303 -4229036607 175166667 175166667 -5714492469 704434006 45042787943

115299 -1217954595 -243108858 3941695181 -7009575402 -4632902 3941695181 8343196397 8320632477 8320632477 0 -19605 7017805243 38143 348186623 1500729811 157444886747

115299

115210 0 2938462478 2579393343 638363074 0 2579393343 835456786 835456786 835456786 0 0 -2500000 0 359069135 0 170827978057

115220 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

115230 -10278762719 -3068950276 -7209812443 -4632902 -6909027 -35223933 -35223933 -19605 72677671 -100437836 1501954811 -11360285357

115240 -977344742 -189498904 575571 -787845838 575571 -4462436 128855 128855 38143 38143 -22497197 -122954753

115250 -1522564464 -1526969621 6474036 4405157 6474036 0 0 0 149981343 -12250 -16822000

115260 787025672 1791747162 1355252231 345314648 0 1355252231 149970875 -2176512

115270

115280 0 0 0 0

115290 -187899697 -187899697 -187899697

149999 129494684268 -35452593 129138895257 -11239407108 -27782082 -27782082 -27782082 1090216354 -76074243

149999

144999 28036207613 28036207613 -10613952582

144999

141999 24062736093 24062736093 -10890518052

141999

141110 24062736091 24062736091 -10890518052

141115 002 002

141150

141180

142999 3979161649 3979161649 27656547

142999

Financial Result




thereof


Interest result -278 -520 (242) (871)




Q4 2019 2020 2019 2020


North America 219 239 93 10474 10965 47

South America 162 149 (78) 2865 2753 (39)

AsiaPacific 1367 1255 (82) 12664 13908 98

Total 2973 2846 (43) 66075 67287 18





Third Parties


2019 2020 2019 2020 2019 2020 2019 2020 2019 2020


Audi 300 335 14348 16710 7906 9243 1271 2518 1271 2456

Skoda 257 253 4995 5043 2402 1912 485 288 485 288

SEAT 151 165 2667 3155 1427 1696 197 -49 197 -49

Bentley 4 4 786 652 539 366 0 72 0 72


VW Com Vehicles 111 95 2717 2684 1062 1196 13 -92 13 -92











thereof





FS Division 10573 10592 9516 9596 986 1223 986 1223









costs 3609 3693 (84) (23)














Total 3039 914 (2125) (699)







Change in financial



03022021 AT




Gross cash flow 5908 10216 4308 729




thereof








Net liquidity 12-31-201912-31-2020 19878 26847 6969 351






Gross cash flow 6774 10635 3861 570




thereof








Net liquidity 12-31-201912-31-2020 21276 26796 5520 259






Total 754 738 (16) (21)

thereof








Argo - -44 (44) x








Financial Result





Interest result -278 -520 (242) (871)






thereof















thereof


Other hedging -332 455 787 x - -332 - 455 787 x



Rental income 36 36 0 02 - 36 - 36 0 02













thereof


Other hedging -332 455 787 x - -332 - 455 787 x



Rental income 36 36 0 02 - 36 - 36 0 02














thereof









thereof



















thereof




















thereof





















euro million 2019 2020 2019 2020

Sales revenue 66015 1000 67398 1000 21 66015 1000 67398 1000 21

Cost of sales -53254 -807 -51780 -768 28 296 -53550 -811 117 -51897 -770 31

Gross profit 12761 193 15617 232 224 12465 189 15500 230 243














euro million 2019 2020 2019 2020

Sales revenue 66015 1000 67398 1000 21 66015 1000 67398 1000 21

Cost of sales1 -53254 -807 -51780 -768 28 296 -53550 sup2 -811 117 -51897 -770 31

Gross profit 12761 193 15617 232 224 12465 189 15500 230 243
















Sales revenue 66015 67398 1383 21



Special items -1080 -245 835 773
















Sales revenue 66015 67398 1383 21
















Inhaltsverzeichnis

01 Deckblatt



05 GuV


10 Vertriebskosten






21 Cash-Flow Pkw


24 F amp E Kosten




29 Finanzergebnis

Bilanz_GuV_Akt

Bilanz_GuV_Vgl

Bilanz 3112

Cashflow KK GJ

Cashflow KK Vgl

Umsatz Dritte GJ

Umsatz Dritte Vgl

Umsatz Dritte GJ VQ

Absatz MG GJ

Absatz MG Vgl

Absatz Marken GJ

Vorstandscharts


5 Lauf



Third Parties


2019 2020 2019 2020 2019 2020 2019 2020 2019 2020


Audi 300 335 14348 16710 7906 9243 1271 2456 1271 2456

Skoda 257 253 4995 5043 2402 1912 485 288 485 288

SEAT 151 165 2667 3155 1427 1696 197 -49 197 -49

Bentley 4 4 786 652 539 366 0 72 0 72


VW Com Vehicles 111 95 2717 2684 1062 1196 13 -92 13 -92









Sspecial items - -


thereof





FS Division 10573 10592 9516 9596 986 1223 986 1223










thereof


Other hedging -332 455 787 x - -332 - 455 787 x



Rental income 36 36 0 02 - 36 - 36 0 02














thereof




















euro million 2019 2020 2019 2020

Sales revenue 66015 1000 67398 1000 21 66015 1000 67398 1000 21

Cost of sales -53254 -807 -51780 -768 28 - -53254 sup2 -807 - -51780 -768 28

Gross profit 12761 193 15617 232 224 12761 193 15617 232 224
















Sales revenue 66015 67398 1383 21


















Position 3000 3010 3021 3022 3023 3280 3030 3035 3027 3200 3210 3205 3270 3272 3340 3320 3325 3361 3415 3160 3330

Gesamtergebnis 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

IB9999 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

299999 -436507758823 -45129364845 12419261221 0 -10635442015 -23072997805 6417339959 8336140485 -482769505002 -360905616744 -387995784154 -44554859665 -4262837325 -46376905702 -87849327348 -23503890829 -20557638019 1047811877419

299999

199999 412196456951 25711908174 249140985 0 2108693579 163456413199 -12479000498 20830977763 35974639744 -8632063388 4230395449 12643673581 -2952633834 53740778213 496534942 -3416238 35792730168 222228211731

199999

111999 87918650522 78301517505 5510315369 17788913326 1225415175 -15421894 1606556112 16401943839 1113758199 3479417537 2365659338 -3159342918 41242233823 31052376 3286699911 21037791299 -384613825

111999

111199 -1842676415 -1776296573 1016133625 31487 -66379842 1243852 -379751 -815181799 -721314419 -721339265 -24846 2960969865 -250225 -1069590363 3546580332 -381290201

111199

111110 169114321 198850219 -379751 7884 -29735898 1243852 -379751 353385203 345603839 345578993 -24846 84685269 -250225 19435617 -7304839 -381290201

111115 2762671932 2762671932 -106292829 -106292829 -106292829 2876284596 -7319835

111116

111120 -3754885315 -3739578019 0 -15307296 -672833

111130 -2001136713 -2001136713 3140816 -1062274173 -960625429 -960625429 -12632737 3570028328

111140 98155936 1002896008 1016513376 -21336648 -8823322

111150 0 0 0 0

111299 2500260528 2553495186 3118700291 -53234658 189210194 -8662238 -42909474 -42909474 -103015459 -103015459

111299

111210 2500260528 2553495186 3118700291 -53234658 189210194 -8662238 -42909474 -42909474 -103015459 -103015459

111399 48886092075 40494374233 156102462 6323884952 156102462 3637994005 -452273529 194128791 2393561439 -3136915382 34379404531 1447334863 5084923382

111399

111310 41893304229 33501586387 -1055297774 7911411795 -1055297774 -152661596 -1822880246 -237194767 1585685479 -7046789765 33208597616 9754838893 9960708261

111320 6992787846 6992787846 1211400236 -1587526843 1211400236 5164609965 1370606717 2178482677 80787596 3909874383 1170806915 -830750403 -4875784879

111330

111499 38374974334 37029944659 -185543167 11461879674 1345029675 -16665746 -143298951 13665754013 2287346147 2302378366 15032219 -22427536 4004874886 413789444 2908955411 12406287585 -3323624

111499

111410 21976128676 21617032746 -143298951 86544508 35909593 -16665746 -143298951 604430169 123805685 141480437 17674752 -22427536 351761694 273698912 4291896545 12249239943 -3323624

111420 1375409231 131265743 0 1244143488 0 263486 263486 263486 57408346 940409

111430 1507544118 15333650923 11375335166 -258209743 13058688984 2160905602 2158263069 -2642533 3653113192 140090532 -144034948 63006742

111440

111441

111470 0

111480 -52004753 -52004753 -42244216 0 0

112999 99667678855 99975771182 9864719694 2326593494 -4990869802 -27303196 9685358214 46004214018 16372446085 2517728787 8792195388 -205630844 6213220273 -45526088 31398203179 -5987408857 -116999887

112999

112110 39604787894 34845333036 3530626918 471096937 -1015211826 -176545 3351265438 1019122233 -592793325 718337646 7776169785 23018723 49525828 -126680899 21233470103 594492516 951410319

112120 15708324054 16637058091 2021158712 -54600738 -276824605 -10646249 2021158712 10816091619 9009350431 10047470521 103150351 -7698206 4889557075 -144008696 2482954697 -1390886179 -113691109

112299 46283638097 46263933895 -110662673 12680891261 19664019 -110662673 31207643387 -1173697413 12155569045 13329266458 131404449 -78983844 20825056 9341400239 358570436 1183145839

112299

112210 4634605751 46326393491 -118416496 12683657884 19664019 -118416496 31261237153 -112305042 12206268986 13329319406 131404449 1346452 20825056 9348195791 369418697 1183156019

112220 -62419413 -62459596 7753823 -2766623 7753823 -53593766 -50646993 -50699941 -52948 -92448364 -6795552 -10848261 -1018

112399 81912262326 82182178053 2234477667 15646492393 170104233 -14891497 2234477667 42724472379 9139608189 12241398072 3101789883 -35235581 2073950496 203533493 12993568591 16401052427 -375567877

112399

112310 13871433627 13464837716 1481389494 3569979339 150640456 -7882703 1481389494 6192981955 1053164444 2347170929 1294006485 16856116 1399430634 212595661 1847078642 1308455688 -78523114

112320 67139559892 67139559892 461164782 11821389749 461164782 3526297616 6778630028 8818557468 203992744 -361851837 846626434 9657784362 14901390587

112330 901577031 1578088669 291923391 255123305 19463777 -7008794 291923391 1268514264 1307813717 1075669675 -232144042 -7360089 -17203205 -8987646 1488705587 191206152 -297044763

112340 -308224 -308224 -74522 -74522

112410 -83841333516 -79952731893 218911907 -26417286359 -3888601623 218911907 -48935215697 -10021797 -16450526228 -16446534248 -720829282 804958 -14653190451 -21950638057 -1762297059

113999 47880745306 2857656824 388218702 45594491585 69014778 388218702 98595252 6883178 6883178 36034241 -26148

113999

113110 -371588304 119664462 3664126 4649211212 3664126 98595252 9111638 9111638

113111 -25476475 -25476475 0 0 -26148

113112 37520988 -15549 -15549 33670378 -15549

113113

113114 43983612862 -876414377 -928951016 38730714774 -928951016 36034241

113115 -003 1564117746 58361342

113120 0 0

113210 607924054 607924054

113410 3878040459 3869187038 1313521141 8853421 10653436 1313521141 -222846 -222846

114999 1951449077 -121052867 895956638 -77325459 -77325459 -77325459 -1776001534

114999

114110 3574911794 -104820895 4707340063 -77325459 -77325459 -77325459 -63717943

114120 -3861154401 0 -3861154401 0

114130 2237691684 -1105707775 49770976 -1138822104

115999 54815719765 74663291267 4304547195 0 -14092792061 -4632902 4304547195 411415979 8495799144 8495799144 0 -19605 7017805243 38143 -5484767646 2185645494 20248767469

115999

115199 66995265715 74906400125 362852014 0 -7083216659 362852014 -4229036607 175166667 175166667 -5832954269 684915683 45042787943

115199

115110 -3626714094 4284420316 413415317 -7083216659 413415317 0 -1184618 -19518323 0

115115 0 0 0 0 0 0

115125 0 0 0 0 0

115120 70621979809 70621979809 -50563303 0 -50563303 -4229036607 175166667 175166667 -5714492469 704434006 45042787943

115299 -1217954595 -243108858 3941695181 -7009575402 -4632902 3941695181 8343196397 8320632477 8320632477 0 -19605 7017805243 38143 348186623 1500729811 157444886747

115299

115210 0 2938462478 2579393343 638363074 0 2579393343 835456786 835456786 835456786 0 0 -2500000 0 359069135 0 170827978057

115220 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

115230 -10278762719 -3068950276 -7209812443 -4632902 -6909027 -35223933 -35223933 -19605 72677671 -100437836 1501954811 -11360285357

115240 -977344742 -189498904 575571 -787845838 575571 -4462436 128855 128855 38143 38143 -22497197 -122954753

115250 -1522564464 -1526969621 6474036 4405157 6474036 0 0 0 149981343 -12250 -16822000

115260 787025672 1791747162 1355252231 345314648 0 1355252231 149970875 -2176512

115270

115280 0 0 0 0

115290 -187899697 -187899697 -187899697

149999 129494684268 -35452593 129138895257 -11239407108 -27782082 -27782082 -27782082 1090216354 -76074243

149999

144999 28036207613 28036207613 -10613952582

144999

141999 24062736093 24062736093 -10890518052

141999

141110 24062736091 24062736091 -10890518052

141115 002 002

141150

141180

142999 3979161649 3979161649 27656547

142999

Financial Result




thereof


Interest result -278 -520 (242) (871)




Q4 2019 2020 2019 2020


North America 219 239 93 10474 10965 47

South America 162 149 (78) 2865 2753 (39)

AsiaPacific 1367 1255 (82) 12664 13908 98

Total 2973 2846 (43) 66075 67287 18





Third Parties


2019 2020 2019 2020 2019 2020 2019 2020 2019 2020


Audi 300 335 14348 16710 7906 9243 1271 2518 1271 2456

Skoda 257 253 4995 5043 2402 1912 485 288 485 288

SEAT 151 165 2667 3155 1427 1696 197 -49 197 -49

Bentley 4 4 786 652 539 366 0 72 0 72


VW Com Vehicles 111 95 2717 2684 1062 1196 13 -92 13 -92











thereof





FS Division 10573 10592 9516 9596 986 1223 986 1223









costs 3609 3693 (84) (23)














Total 3039 914 (2125) (699)







Change in financial



03022021 AT




Gross cash flow 5908 10216 4308 729




thereof








Net liquidity 12-31-201912-31-2020 19878 26847 6969 351






Gross cash flow 6774 10635 3861 570




thereof








Net liquidity 12-31-201912-31-2020 21276 26796 5520 259






Total 754 738 (16) (21)

thereof








Argo - -44 (44) x








Financial Result





Interest result -278 -520 (242) (871)






thereof















thereof


Other hedging -332 455 787 x - -332 - 455 787 x



Rental income 36 36 0 02 - 36 - 36 0 02













thereof


Other hedging -332 455 787 x - -332 - 455 787 x



Rental income 36 36 0 02 - 36 - 36 0 02














thereof









thereof



















thereof




















thereof





















euro million 2019 2020 2019 2020

Sales revenue 66015 1000 67398 1000 21 66015 1000 67398 1000 21

Cost of sales -53254 -807 -51780 -768 28 296 -53550 -811 117 -51897 -770 31

Gross profit 12761 193 15617 232 224 12465 189 15500 230 243














euro million 2019 2020 2019 2020

Sales revenue 66015 1000 67398 1000 21 66015 1000 67398 1000 21

Cost of sales1 -53254 -807 -51780 -768 28 296 -53550 sup2 -811 117 -51897 -770 31

Gross profit 12761 193 15617 232 224 12465 189 15500 230 243
















Sales revenue 66015 67398 1383 21



Special items -1080 -245 835 773
















Sales revenue 66015 67398 1383 21
















Inhaltsverzeichnis

01 Deckblatt



05 GuV


10 Vertriebskosten






21 Cash-Flow Pkw


24 F amp E Kosten




29 Finanzergebnis

Bilanz_GuV_Akt

Bilanz_GuV_Vgl

Bilanz 3112

Cashflow KK GJ

Cashflow KK Vgl

Umsatz Dritte GJ

Umsatz Dritte Vgl

Umsatz Dritte GJ VQ

Absatz MG GJ

Absatz MG Vgl

Absatz Marken GJ

Vorstandscharts


5 Lauf


January - December b(w) prior year January - December b(w) py


euro million 2019 2020 absolute 2019 2020 absolut

Total other operating incomeexpenses -1437 -1466 (29) (20) - -1437 - -1466 (29) (20)

thereof

Foreign currency influences 23 -383 (406) x - 23 - -383 (406) x

Other hedging -155 -97 58 373 - -155 - -97 58 373



Rental income 161 145 (16) (100) - 161 - 145 (16) (100)







thereof gain of contribution AID to Argo - 833 833 x - 2 - 946 944 x





Third Parties

acute000 vehicleseuro million Jan - Dec Jan - Dec Jan - Dec Jan - Dec Jan - Dec

2019 2020 2019 2020 2019 2020 2019 2020 2019 2020

VW Passenger Cars 3677 2835 88407 71076 42062 32046 1934 -331 1934 -331

Audi 1200 1017 55680 49973 32402 28360 4509 2569 4509 2569

Skoda 1062 849 19806 17081 8912 7031 1660 756 1660 756

SEAT 667 484 11496 9198 6409 5189 445 -339 445 -339

Bentley 12 11 2092 2049 1515 1326 65 20 65 20


VW Com Vehicles 456 345 11473 9358 5158 4371 510 -454 510 -454









Sspecial items - - - -


thereof



Commercial Vehicles 243 191 26444 22156 25401 21114 1653 -79 1653 -79


FS Division 40160 40778 36446 37223 3212 3012 3212 3012









Total cost of sales 203490 805 183937 825 19554 96 - 203490 - 183937 19554 96

thereof

Direct material and cost of goods purchased 113282 448 98023 440 15260 135 - 113282 - 98023 15260 135

Warranty costs 6017 24 5187 23 831 138 - 6017 - 5187 831 138

Personnel expenses 31470 125 27889 125 3582 114 - 31470 - 27889 3582 114

Deferral of fixed costs -0 (00) 0 00 (0) x - -0 - 0 (0) x

Material overhead expenses 17135 68 15872 71 1263 74 - 17135 - 15872 1263 74




Cost of sales from Financial Services 32308 128 32813 147 (505) (16) - 32308 - 32813 (505) (16)

thereof Residual values vehicles operate lease 16287 64 16479 74 (192) (12) - 16287 - 16479 (192) (12)

thereof Interest expenses FS business 2705 11 2303 10 402 149 - 2705 - 2303 402 149


Services Accounting -5366 (21) -4266 (19) (1101) (205) - -5366 - -4266 (1101) (205)

Other -2005 (08) -1629 (07) (376) (188) - -2005 - -1629 (376) (188)




January - December b(w) py January - December b(w) py


euro million 2019 2020 2019 2020

Sales revenue 252632 1000 222884 1000 (118) 252632 1000 222884 1000 (118)

Cost of sales -203490 -805 -183937 -825 96 - -203490 sup2 -805 - -183937 -825 96

Gross profit 49142 195 38947 175 (207) 49142 195 38947 175 (207)



Other operating incomeexpenses -1437 -06 -1466 -07 (20) - -1437 ⁴ -06 - -1466 -07 (20)

Operating profit 16960 67 9675 43 (430) 16960 67 9675 43 (430)


Interest resultOther fin result -1953 -08 -765 -03 608 - -1953 -08 - -765 -03 608

Financial result 1396 06 1991 09 426 - 1396 06 - 1991 09 426

Profit before tax 18356 73 11667 52 (364) 18356 73 11667 52 (364)

Income tax expense -4326 -17 -2843 -13 343

Profit after tax 14029 56 8824 40 (371)




January - December b(w) prior year


Sales revenue 252632 222884 (29749) (118)

Operating profit before special items 16960 9675 (7284) (430)

as of sales revenue 67 43 (24) sup1


Operating profit 16960 9675 (7284) (430)


Financial result 1396 1991 595 426

Profit before tax before special items 18356 11667 (6689) (364)


Profit before tax 18356 11667 (6689) (364)


Income tax expense -4326 -2843 1484 343


Profit after tax 14029 8824 (5205) (371)



Financial Result



Total financial result 1396 1991 595 426

thereof


Interest result -1614 -1498 116 72


Dividend decisions of joint venturessup1



FAW-Volkswagen 1393 1368 (25) (18)

SAIC-Volkswagen 1808 1284 (525) (290)

SAIC-Volkswagen Sales Company 153 149 (4) (24)

Shanghai VW Powertrain 115 64 (52) (447)

VW Pon Financial Services BV 12 12 - 00

IAV - - - x

PZ Auto doo - - - x

VW FAW Engine 229 279 50 219

VW-FAW Platform Company 5 - (5) x

VW Transmission (Shanghai) - - - x

Cummis-Scania XPI Manufacturing LLC - - - x

Oppland Tungbilservice AS 0 0 (0) (48)

Tynset Diesel AS Tynset 0 0 0 61

Total 3715 3155 (560) (151)

thereof received 3714 3155 (559) (150)

thereof outstanding 2 - (2) x

sup1 The changes of the equity investment carrying amounts are represented due to the dividend decisions

gepruumlft

CZ 08022021

Share of the result of equity-accounted investments ndash China



Total 3349 2756 (592) (177)

thereof


less Elimination of unrealized profit for inventories 11 10 (1) (60)

less Elimination of unrealized profit for one-time licences -109 -28 81 739

SAIC-Volkswagen Group (Group Level) 1571 975 (597) (380)

FAW-Volkswagen (Separate Financial Statement) 1364 1525 161 118

less Elimination of unrealized profit for inventories 38 -20 (58) x


FAW-Volkswagen (Group Level) 1242 1434 192 155

Other Chinese Companiessup2 364 464 100 275

thereof

Volkswagen FAW Engine Co Ltd 291 295 4 14


Volkswagen (Anhui) Automotive (former JAC VW Automotive) - 71 71 x


sup2 Volkswagen FAW Engine Co Ltd Shanghai VW Powertrain VW-FAW Platform Company Ltd Volkswagen (Anhui) Automotive Co Ldt


gepruumlft

CZ 08022021



January - December 2019 2020 2019 2020


North America 956 744 (221) 43351 36810 (151)

South America 607 471 (224) 11297 8632 (236)

AsiaPacific 4538 4012 (116) 43974 44288 07

Total 10956 9157 (164) 252622 223229 (116)

Hedges sales revenue - - x 11 -345 x

Volkswagen Group 10956 9157 (164) 252632 222884 (118)



Third Parties


2019 2020 2019 2020 2019 2020 2019 2020 2019 2020

VW Passenger Cars 3677 2835 88407 71076 42062 32046 3785 454 1934 -331

Audi 1200 1017 55680 49973 32402 28360 4509 2739 4509 2569

Skoda 1062 849 19806 17081 8912 7031 1660 756 1660 756

SEAT 667 484 11496 9198 6409 5189 445 -339 445 -339

Bentley 12 11 2092 2049 1515 1326 65 20 65 20


VW Com Vehicles 456 345 11473 9358 5158 4371 510 -454 510 -454









Special items -2336 -931 - -


thereof





FS Division 40160 40778 36446 37223 3212 3012 3212 3012









costs 14306 13885 421 29

- as of sales revenuesup1 67 76 (09) sup2










Inventories

12-31- 12-31- b(w) prior year


Total 46742 43823 2919 62

Raw materials and supplies 6099 6966 (867) (142)

WorkService in progress 4110 4022 88 21

Finished goods and products 30617 27204 3413 111

Rental and leasing business 5699 5337 362 64

Payments on account for inventories 222 288 (66) (295)

Hedges on inventories -6 6 (12) x




Total 1636 1079 (558) (341)

Change in inventories -345 1406 1751 x



Change in other provisions 1400 -214 (1614) x


(excluding depreciation) -110 52 161 x

Change in financial

services receivables 303 -72 (375) x






Gross cash flow 25474 21823 (3651) (143)


= Cash flows from operating activities 28528 22154 (6373) (223)


thereof





Net cash flow 8273 5392 (2881) (348)

ContributionsRedemptions from hybrid capital - 2984 2984 x

Capital contributions FS divisions CV PE -971 -87 884 911


IPO TRATON 1387 - (1387) x

Net liquidity 12-31-201912-31-2020 19878 26847 6969 351






Gross cash flow 29097 23642 (5455) (187)




thereof




Acquisition and disposal of equity invest -716 -1188 (472) (659)

Net cash flow 10835 6357 (4478) (413)


Capital contributions FS divisions -970 -33 938 966

Acquisitions of shares of minorities -1109 -235 874 788

IPO TRATON 1387 - (1387) x

Net liquidity 12-31-201912-31-2020 21276 26796 5520 259



Balance Sheet by Division - Equity and Liabilities

Passenger Carssup1 Comm Veh PE

12-31- 12-31- 12-31- 12-31- 12-31- 12-31-

euro million 2019 2020 2019 2020 2019 2020

Equity 75773 81423 14115 13389 2885 1922

Attributable to shareh 74879 80590 13808 13119 2848 1918

Noncontrolling interests 895 834 307 270 37 4

Equity attributable to hybrid capital owner of VW AG 12663 15713 - - - -

Equity attributable to shareholders of VW AG 74879 80590 13808 13119 2848 1918

Noncurrent liabilities 78679 82263 11367 10592 777 668

Noncurrent fin liabilities 16251 14269 1180 1226 160 141

Other nonc liabilities 3937 5722 7203 6246 435 328

Provisions for pensions 38753 42257 1759 1817 119 133

Other nonc provisions 19738 20015 1224 1303 63 66

Current liabilities 47394 49731 13081 12052 2746 2057

Current fin liabilities -10522 -5495 2460 2502 749 186

Trade payables 16495 16156 2453 2753 655 630

Other current liabilities 18812 18391 7294 5819 686 699

Other current provisions 22583 20679 873 978 311 541

Held for Sale 26 - - - 344 -

Total equity and liabilities 201846 213417 38563 36033 6408 4647

sup1 Passenger Cars = Automotive Division Commercial Vehicles Power Engineering

Balance Sheet by Division - Assets


12-31- 12-31- 12-31- 12-31- 12-31- 12-31-

euro million 2019 2020 2019 2020 2019 2020

Noncurrent assets 126387 130237 25143 24777 2206 1847

Intangible assets 56813 58823 7907 7969 1290 990

Property plant amp equip 57214 54913 7032 7131 797 763

Leasing and rental assets -5025 -4968 7106 6480 3 -

Equity accounted invest 6232 8129 1118 1135 34 29

FS receivables -397 -381 7 4 - -

Other 11550 13721 1973 2059 82 65

Current assets 75459 83180 13420 11256 4202 2800

Inventories 35509 33313 4948 4329 1441 1413


Receivables and other financial assets 13190 12694 3438 3178 1174 1140

Marketable securities 10368 15398 3178 2105 - -

Cash cash equivalents 17019 22334 1853 1641 807 247

Held for Sale 16 - - - 779 -

Total assets 201846 213417 38563 36033 6408 4647



VW Group Automotivesup1 Financial Services

12-31- 12-31- 12-31- 12-31- 12-31- 12-31-

euro million 2019 2020 2019 2020 2019 2020

Equity 123651 128783 92774 96733 30877 32050



Equity attributable to hybrid capital owner of VW AG 12663 15713 12663 15713 - -








Current fin liabilities 87912 88648 -7312 -2806 95224 91454

Trade payables 22745 22677 19603 19539 3142 3137



Held for Sale 370 - 370 - - -


sup1 Automotive Division = Volkswagen Group Financial Services



12-31- 12-31- 12-31- 12-31- 12-31- 12-31-

euro million 2019 2020 2019 2020 2019 2020




Leasing and rental assets 48938 50686 2084 1512 46853 49174


FS receivables 86973 82565 -390 -377 87363 82942

Other 24162 26987 13605 15844 10558 11143

Current assets 187463 194944 93081 97236 94382 97708

Inventories 46742 43823 41898 39055 4844 4768

FS receivables 58615 58006 -640 -557 59255 58562


Marketable securities 16769 21162 13546 17503 3223 3658


Held for Sale 795 - 795 - - -

Total assets 488071 497114 246816 254097 241255 243017


Volkswagen Group Balance Sheet

Assets 12-31- 12-31- 12-31- 12-31- Equity and Liabilities 12-31- 12-31- 12-31- 12-31-

euro million 2019 2020 Specialitems 2020 euro million 2019 2020 Specialitems 2020

Noncurrent assets 300608 302170 302170 Equity 123651 128783 128783

Intangible assets 66214 67968 - 67968 Attributable to shareh 121781 127049 - 127049

Property plant amp equip 66152 63884 - 63884 Noncontrolling interests 1870 1734 - 1734

Leasing and rental assets 48938 50686 - 50686 Noncurrent liabilities 196497 202921 202921

Equity accounted invest 8169 10080 - 10080 Noncurrent fin liabilities 113556 114809 - 114809

FS receivables 86973 82565 - 82565 Other nonc liabilities 19769 20344 - 20344

Other 24162 26987 - 26987 Provisions for pensions 41389 45081 - 45081

Current assets 187463 194944 194944 Other nonc provisions 21783 22688 - 22688

Inventories 46742 43823 - 43823 Current liabilities 167924 165410 165410

FS receivables 58615 58006 - 58006 Current fin liabilities 87912 88648 - 88648

Receivables and otherfinancial assets 38620 - - Trade payables 22745 22677 - 22677

38044 - 38044 Other current liabilities 32462 31122 - 31122

Marketable securities 16769 21162 - 21162 Other current provisions 24434 22964 - 22964

Cash cash equivalents 25923 33909 - 33909 Held for Sale 370 - - 589999

Held for Sale 795 - 795 -

Total assets 488071 497114 497114 Total equity and liabilities 488071 497114 497114




Total 3349 2756 (592) (177)

thereof





There Holding -117 61 178 x

Rheinmetall M V 52 22 (30) (576)


Argo - -96 (96) x


NorthVoltsup3 -7 -45 (37) x






gepruumlft

CZ 08022021

Financial Result







Interest expenses -2524 -2291 233 92




thereof




Net income from securities and fundssup1 27 -230 (257) x










Total other operating incomeexpenses -1437 -1466 (29) (20) -2632 1195 -1002 -464 (1659) x

thereof


Other hedging -155 -97 58 373 - -155 - -97 58 373


Reversal of provisions 969 1086 117 121 29 941 86 1000 59 63

Rental income 161 145 (16) (100) - 161 - 145 (16) (100)




Other incomeexpenses -3800 -1628 2172 572 -2661 -1139 -1088 -539 600 527



thereof gain of contribution AID to Argo 2 946 944 x - - - 833 833 x








thereof


Other hedging -155 -97 58 373 - -155 - -97 58 373


Reversal of provisions1 969 1086 117 121 29 941 86 1000 59 63

Rental income 161 145 (16) (100) - 161 - 145 (16) (100)




Other incomeexpenses2 -3800 -1628 2172 572 -2661 -1139 -1088 -539 600 527










thereof



Other administrative expenses -708 -501 (207) (293)






thereof


Sales Expenses 7064 5244 1820 258







Other direct costs of sale 1413 1383 30 21

Freight-out packaging-shipping costs 2080 1795 285 137








Total cost of sales 203490 805 183937 825 19554 96 -296 203786 71 184008 19779 97

thereof


Warranty costs 6017 24 5187 23 831 138 8 6010 72 5114 895 149












Other -2005 (08) -1629 (07) (376) (188) -303 -1702 -143 -1486 (216) (127)








thereof


Warranty costs1 6017 24 5187 23 831 138 8 6010 72 5114 895 149












Other2 -2005 (08) -1629 (07) (376) (188) -303 -1702 -143 -1486 (216) (127)

sup1 Incl special items from Diesel issue 2019 euro8 million 2020 euro72 million

sup2 Incl special items from Diesel issue 2019 euro-303 million 2020 euro-143 million

Income Statement by Division


Jan - Dec Jan - Dec Jan - Dec

euro million 2019 2020 absolute 2019 2020 absolute 2019 2020 absolute

Sales revenue 182031 156311 -25720 -141 26444 22156 -4289 -162 3997 3640 -357 -89

Cost of sales -145606 -128278 17328 119 -21516 -19023 2492 116 -3355 -3206 149 44

Gross profit 36425 28033 -8392 -230 4929 3132 -1796 -364 642 434 -208 -324

Distribution expenses -16767 -14606 2161 129 -2388 -2149 239 100 -557 -511 46 82

Administrative expenses -6347 -6081 266 42 -975 -878 97 100 -201 -189 12 59

Other oper income 8409 9102 693 82 660 676 16 25 103 104 2 16

Other oper expense -9532 -9224 308 32 -572 -860 -288 -503 -80 -320 -240 x

Other oper incomeexpense -1124 -122 1001 891 87 -184 -272 x 23 -215 -238 x

Operating profit 12188 7224 -4964 -407 1653 -79 -1732 x -93 -482 -389 x

Share profloss equ-acc in 3053 2615 -438 -143 225 85 -140 -622 -1 -3 -3 x

Interest resultOther fin result -1819 -297 1522 837 -70 -170 -100 x 1 -2 -3 x

Financial result 1233 2317 1084 879 155 -85 -240 x 0 -5 -6 x

Profit before tax 13421 9541 -3880 -289 1808 -163 -1971 x -92 -487 -394 x

Income tax expense -3175 -2331 844 266 -335 -44 290 868 19 147 128 x

Profit after tax 10246 7211 -3036 -296 1473 -208 -1681 x -73 -340 -267 x

of which attributable to

Non controlling interests 3845 2331 -1514 -394 -335 44 379 x -19 -147 -128 x

Volkswagen AG hybrid capital investors 3845 2331 -1514 -394 -335 44 379 x -19 -147 -128 x

Volkswagen AG shareholders 2557 2549 -8 -03 - -296 -2439 NV -35 -46 -12 -336






Sales revenue 252632 222884 -29749 -118 212473 182106 -30366 -143 40160 40778 618 15

Cost of sales -203490 -183937 19554 96 -170477 -150507 19969 117 -33014 -33430 -416 -13

Gross profit 49142 38947 -10195 -207 41996 31599 -10397 -248 7146 7348 202 28


Administrative expenses -9767 -9399 368 38 -7522 -7147 375 50 -2245 -2252 -7 -03


Other oper expense -12890 -13904 -1014 -79 -10184 -10404 -219 -22 -2706 -3500 -795 -294

Other oper incomeexpense -1437 -1466 -29 -20 -1014 -522 492 485 -423 -944 -521 x

Operating profit 16960 9675 -7284 -430 13748 6664 -7084 -515 3212 3012 -200 -62

Share profloss equ-acc in 3349 2756 -592 -177 3278 2697 -581 -177 71 60 -11 -161

Interest resultOther fin result -1953 -765 1188 608 -1889 -469 1419 751 -64 -296 -231 x

Financial result 1396 1991 595 426 1389 2227 838 604 7 -236 -243 x

Profit before tax 18356 11667 -6689 -364 15137 8891 -6246 -413 3219 2776 -443 -138

Income tax expense -4326 -2843 1484 343 -3491 -2228 1262 362 -836 -615 221 265

Profit after tax 14029 8824 -5205 -371 11646 6663 -4983 -428 2383 2161 -222 -93


Non controlling interests 143 -43 -186 x 79 -98 -177 x 64 55 -9 -137

Volkswagen AG hybrid capital investors 540 533 -7 -13 540 533 -7 -13 - - - x

Volkswagen AG shareholders 13346 8334 -5012 -376 11027 6227 -4799 -435 2319 2106 -213 -92



December b(w) py


Sales revenue 21517 1000 22769 1000 58

Cost of sales -17112 -795 -17126 -752 (01)

Gross profit 4405 205 5643 248 281



Other operating incomeexpense -1684 -78 -267 -12 842

Operating profit -522 -24 2945 129 x




Profit before tax -442 -21 3191 140 x

Income tax expense 148 07 -876 -38 x

Profit after tax -295 -14 2315 102 x





euro million 2019 2020 2019 2020

Sales revenue 252632 1000 222884 1000 (118) 252632 1000 222884 1000 (118)

Cost of sales -203490 -805 -183937 -825 96 296 -203786 -807 71 -184008 -826 97

Gross profit 49142 195 38947 175 (207) 48846 193 38876 174 (204)



Other operating incomeexpenses -1437 -06 -1466 -07 (20) -2632 1195 05 -1002 -464 -02 x







Profit after tax 14029 56 8824 40 (371)




euro million 2019 2020 2019 2020

Sales revenue 252632 1000 222884 1000 (118) 252632 1000 222884 1000 (118)

Cost of sales1 -203490 -805 -183937 -825 96 296 -203786 sup2 -807 71 -184008 -826 97

Gross profit 49142 195 38947 175 (207) 48846 193 38876 174 (204)



Other operating incomeexpenses2 -1437 -06 -1466 -07 (20) -2632 1195 ⁴ 05 -1002 -464 -02 x







Profit after tax 14029 56 8824 40 (371)




December b(w) prior year


Sales revenue 21517 22769 1252 58

Operating profit -522 2945 3467 x

as of sales revenue -24 129 154 sup1


Profit before tax -442 3191 3633 x


Income tax expense 148 -876 (1024) x

Tax rate in 334 275 59 sup1

Profit after tax -295 2315 2610 x





Sales revenue 252632 222884 (29749) (118)




Operating profitsup2 16960 9675 (7284) (430)









Profit after tax 14029 8824 (5205) (371)


sup2 Incl special items from Diesel issue 2019 euro-2336 million 2020 euro- 931 million




Sales revenue 252632 222884 (29749) (118)













Profit after tax 14029 8824 (5205) (371)



Inhaltsverzeichnis

01 Deckblatt




05 GuV

06 GuV per

07 GuV KB

08 GuV KB 1


10 Vertriebskosten





15 Bilanz VW

16 Aktiva KB

17 Passiva KB

18 Aktiva KB 1

19 Passiva KB 1


21 Cash-Flow Pkw


23 Vorraumlte

24 F amp E Kosten

25 Umsatzerloumlse




29 Finanzergebnis

Vorstandscharts

31122020 zu 31122019

5 Lauf



Third Parties


2020 2020 2020 2020 2020 2020 2020 2020 2020 2020


Audi 268 148 12454 8022 6783 4952 15 -765 15 -765

Skoda 237 135 4850 2696 2194 1098 307 -78 307 -78

SEAT 140 57 2558 1191 1383 739 -48 -223 -48 -223

Bentley 3 1 620 239 450 188 56 -155 56 -155


VW Com Vehicles 99 58 2671 1567 1255 769 14 -348 14 -348

Scania Vehicles and Services 19 12 2982 2287 2862 2181 256 -35 256 -35


Power Engineering - - 922 928 922 927 16 5 16 5



Other -180 20 -8842 -1519 14369 11740 -1293 sup2 981 sup2 -1293 sup3 981 sup3


Volkswagen Group before special items 904 -2394 904 -2394


Volkswagen Group 1937 1799 55054 41076 55054 41076 904 -2394 904 -2394

thereof

Automotive Division 1937 1799 44650 32365 45577 33085 197 -2935 197 -2935

of which Passenger Cars 1891 1767 38165 27147 39347 28110 120 -2470 120 -2470



FS Division 10404 8711 9477 7992 707 541 707 541










thereof


Other hedging -944 214 1159 x - -944 - 214 1159 x



Rental income 36 37 1 28 - 36 - 37 1 28

Net income from disposalswrite-ups 28 -3 (31) x - 28 - -3 (31) x





thereof Gain of contribution AID to Argo - 833 833 x






Sales revenue 55054 41076 (13978) (254)

Operating profit before special items 904 -2394 (3298) x

as of sales revenue 16 -58 (75) sup1


Operating profit 904 -2394 (3298) x


Financial result -222 360 583 x

Profit before tax before special items 682 -2034 (2715) x


Profit before tax 682 -2034 (2715) x


Income tax expense -165 498 663 x


Profit after tax 517 -1536 (2053) x






euro million 2020 2020 2020 2020

Sales revenue 55054 1000 41076 1000 (254) 55054 1000 41076 1000 (254)

Cost of sales -45824 -832 -37404 -911 184 - -45824 sup2 -832 - -37404 -911 184

Gross profit 9231 168 3672 89 (602) 9231 168 3672 89 (602)




Operating profit 904 16 -2394 -58 x 904 16 -2394 -58 x

Share of profloss of equ-acc invest 129 02 1035 25 x - 129 02 - 1035 25 x

Interest resultOther fin result -351 -06 -675 -16 (923) - -351 -06 - -675 -16 (923)

Financial result -222 -04 360 09 x - -222 -04 - 360 09 x

Profit before tax 682 12 -2034 -50 x 682 12 -2034 -50 x

Income tax expense -165 -03 498 12 x

Profit after tax 517 09 -1536 -37 x





Position 3000 3010 3021 3022 3023 3280 3030 3035 3027 3200 3210 3205 3270 3272 3340 3320 3325 3361 3415 3160 3330

Gesamtergebnis 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

IB9999 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

299999 630310319147 1137645273837 67555836627 -107000 -149695905635 -1317028634 -169354787 67929341711 305830145554 39098984099 418411375303 37457574394 -3293202439 170712142526 127673633378 118522415547 280975514385 982687889488

299999

199999 324087152278 455224822023 -5334312628 -107000 3779630578 -10760516217 -1833595916 -4960807541 172291332425 16213988767 161801880286 -509784408 -3148900703 11667438348 -3987510977 29420773238 21666874289 410065930052

199999

111999 1475137087 15003577605 656033428 2187146838 -252206735 15698698 992410066 -2116843067 -7321808155 -6920504304 401303851 -808650848 16043572862 -68451337 6447001885 281250503 -887406886

111999

111199 -5067081478 -5113772732 -84010745 -161095545 46691254 -15991 -5410812 -3295113616 -3107627222 -3107653349 -26127 1319179299 -310457 -480162688 -748966158 -884909478

111199

111110 -969985488 -1032901495 -5410812 -587195 62916007 -15991 -5410812 -7756529 -4514337 -4540464 -26127 -1483957 -310457 -42706155 -8356313 -884909478

111115 52079644 52079644 -1268583612 -1268583612 -1268583612 1320663256

111116

111120 -1733447306 -1720122132 0 -13325174 -672833 -187615526

111130 -231243477 -231243477 -16050835 -2018773475 -1834529273 -1834529273 -4367837 -535994319

111140 -103293558 -100393979 -78599933 -2899579 -170000

111150 0 0 0 0

111299 -169032744 -161798331 -236699917 -7234413 -21107477 55076909 -5831255 -5831255 -13999458 -13999458

111299

111210 -169032744 -161798331 -236699917 -7234413 -21107477 55076909 -5831255 -5831255 -13999458 -13999458

111399 18768548476 18768548476 1088045092 2358286669 1088045092 1260126096 -4221192357 -3797999673 423192684 -796600966 15069135454 5828545743 -34317087

111399

111310 -3437511958 -3437511958 1672145474 3972555822 1672145474 -22898938883 -14585118373 -13605060242 980058131 -29878810577 15069135454 10352330195 -662800492

111320 53143668056 53143668056 -584100382 -1614269153 -584100382 24159064979 10363926016 9807060569 -556865447 29082209611 -4523784452 6593687833

111330

111499 1218936616 1510600192 -111301002 -10044286 -291663576 15714689 -69116737 -136932456 7011424 -9020027 -16031451 -12049882 -330742433 -54141422 109861883 1064533748 -2497408

111499

111410 -166069923 88478428 -69116737 -10044286 -254548351 15714689 -69116737 -9661012 425324 -15606127 -16031451 -12049882 -327820911 -57087335 -429675648 1049416274 -2497408

111420 -5341699 -35874363 0 -17542627 0 -73085

111430 1489646772 150921937 -19572598 -40322336 65861 65861 -2921522 2945913 1535602978 15117474

111440

111441

111470 0 0

111480 -51223243 -51223243 -42184265 0 0

112999 -24277768122 -27593207889 -223143314 2046426337 752766495 -24915558 -186014865 -3749003902 -5051367301 -6221511413 -1243945342 -1554717214 -2370489833 -1623048994 -944542892 -16476284983 2007411396

112999

112110 -2568088191 -2478420433 -1542265629 450773074 77770283 -1137907 -150513718 1175711768 9539575 18382006 8842431 -38160636 -277841071 -227677673 1420861055 -2027960661 -22826446

112120 -5067674232 -6543897953 116677925 -251460974 137804238 -13593983 116677925 -1997865283 -1566646015 -1721578385 -226835549 -13826288 -1574527828 -1219784249 72190108 -912272188 -123745415

112299 -2164442535 -2164164197 -1259034852 -90418221 -409481 -1259034852 2000338673 -775770143 -1359415693 -58364555 -331319943 -8552978 -24630584 -697576621 -1701131535 -117557475

112299

112210 -1908127292 -1907717811 -125876144 -901348767 -409481 -125876144 2248155628 -744694106 -132829419 -583600084 -331319943 -8552978 -24630584 -698645753 -1691597005 -117547931

112220 -256315243 -256446386 -273412 -2833443 -273412 -247816955 -31076037 -31121503 -45466 1069132 -953453 -9544

112399 -6733281855 -7651072159 -228081377 423301888 -183136966 -10183668 -228081377 -1561447333 225960653 -690971167 -91693182 -827964623 -736878375 -129446005 -2980237597 -110729744 -314327683

112399

112310 -1216381331 -1867193846 2414201 -78120978 -168463402 -9598907 2414201 -69264161 -713510308 -932413042 -218902734 -71454259 -582611084 -81434015 -366227906 221570235 -2956905

112320 -4960052652 -4960052652 -654964 506477011 -654964 -831557192 941275072 473132678 -468142394 -746537993 -4700358 -27256046 -228398811

112330 -55645022 -823428009 -251568423 -5054145 -14673564 -584761 -251568423 -37248531 -1804111 -231690803 -229886692 -9972371 -149464786 -47909843 111594909 -103901168 -284758633

112340 -397652 -397652 -102147 -102147

112410 -7744281309 -8755653147 2689560619 2327994559 720738421 2689560619 -3365741727 -2944451371 -2467928174 474625146 304287221 -21510483 1240220163 -11724190855 2585868415

113999 -25787435844 -5936148923 -3919678872 -2843867151 -856304095 -3919678872 -7181794 -9227014 -9227014 41024083 -18921

113999

113110 -215871688 -10805721 -267935 -242648964 -267935 -7181794 -9227014 -9227014

113111 -69637 -69637 0 0 -18921

113112 26687249 -80466 -80466 23703187 -80466

113113

113114 -2037332789 -607518977 -629593768 -24978467885 -629593768 41024083

113115 -545188 -3388596892 -859409583

113120 0 0

113210 145731037 145731037

113410 -5309172052 -5310780059 -3287325288 1608007 3105488 -3287325288

114999 -11732833 -158806745 17171703 -33334588 -33334588 -33334588 -167835044

114999

114110 -195343203 -48236421 -120334308 -33334588 -33334588 -33334588 -29158442

114120 140114187 140114187

114130 -62099314 -110570324 -2608176 -138676602

115999 210442886289 209977855733 -160353242 0 465030556 -3792 -160353242 203778408326 20389054782 20389054782 0 -120869 -295 -295 -70519732 -101139285 308740103697

115999

115199 206433730922 207435822458 -152603805 0 -1002091536 -152603805 -128528614 0 0 -66965571 -121807093 225103547632

115199

115110 209815544603 210817636139 -28444991 -1002091536 -28444991 0 -66965571 748268488 225103547632

115115 0 0 0 0 0 0

115125 0 0 0 0 0

115120 -3381813681 -3381813681 -124158814 0 -124158814 -128528614 0 0 -1966339418 0

115299 4009155367 2542033275 -7749437 1467122092 -3792 -7749437 20390693694 20389054782 20389054782 0 -120869 -295 -295 -3554161 20667808 83636556065

115299

115210 0 0 0 0 0 0 203888298318 203888298318 203888298318 0 0 0 0 0 0 83165796359

115220 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

115230 2133452987 664253454 1469199533 -3792 12443845 4167564 4167564 -120869 -3554035 221308 63717107

115240 216938682 216938682 -800844 -800844 6095177 -1918062 -1918062 -295 -295 2044650 -1053401

115250 -2043379 -27446 -485729 -2015933 -485729 996 0 0 0

115260 1662995148 1663056656 -6462864 -61508 -6462864 -126 0 4080960

115270 -2188071 -2188071 0 0 0 0 0 0 0

115280 0 0

115290

149999 25219857415 -14627665 24804695201 -353209851 -26320054 -26320054 -26320054 -7490706

149999

144999 13190748303 13190748303 3324804661

144999

141999 2874542441 2874542441 3325585832

141999

141110 27799562462 27799562462 3325585832

141115 945861948 945861948

141150

141180

142999 -15560567352 -15560567352 -781171

142999

Financial Result



Total financial result -222 360 583 x

thereof

Share of prof amp loss of equity-acc invest 129 1035 906 x

Interest result 112 -683 (796) x




2020 Q1 Q2 Q1 Q2


North America 204 96 (526) 9730 6200 (363)

South America 121 62 (492) 2404 1301 (459)

AsiaPacific 588 1021 737 8645 10622 229

Total 1937 1799 (71) 55288 41264 (254)

Hedges sales revenue - - x -233 -188 195




Third Parties


2020 2020 2020 2020 2020 2020 2020 2020 2020 2020


Audi 268 148 12454 8022 6783 4952 15 -658 15 -765

Skoda 237 135 4850 2696 2194 1098 307 -78 307 -78

SEAT 140 57 2558 1191 1383 739 -48 -223 -48 -223

Bentley 3 1 620 239 450 188 56 -155 56 -155


VW Com Vehicles 99 58 2671 1567 1255 769 14 -348 14 -348











thereof





FS Division 10404 8711 9477 7992 707 541 707 541









costs 3563 3132 431 121


Capitalized development costs 1564 1386 (179) (114)












Total -3371 -445 2926 868


Change in receivables -358 -496 (138) (385)


Change in other provisions -1208 -916 292 241


(excluding depreciation) 105 58 (47) (448)

Change in financial







Gross cash flow 4421 1733 (2688) (608)

+ Change in working capital -3081 -443 2638 856



thereof



Add to capitalized development costs -1464 -1303 160 110


Net cash flow -2375 -2130 245 103



Net liquidity 03-31-202006-30-2020 18036 19117 1082 60

Net liquidity 12-31-201906-30-2020 19878 19117 (761) (38)






Gross cash flow 4917 1909 (3008) (612)




thereof





Net cash flow -2518 -2288 231 92



Aquisition of MAN shares tendered compensation payments 2 - (2) x

Net liquidity 03-31-202006-30-2020 17787 18663 876 49

Net liquidity 12-31-201906-30-2020 21276 18663 (2613) (123)






Total 129 1035 906 x

thereof

SAIC-Volkswagen Groupsup1 -6 416 422 x

FAW-Volkswagen 184 445 260 x

Other Chinese Joint Venturesup2 46 87 40 862



GETT - - - ERRORDIV0

Navistar -10 -12 (2) 171

Sinotruk (Hong Kong) Ltd 27 - (27) x

Elimination of unrealized profit -107 19 126 x


sup2 Volkswagen FAW Engine Co Ltd Shanghai VW Powertrain VW-FAW Platform Company Ltd

Financial Result







Interest expenses -131 -876 (746) x

Interest result on other liabilitiessup2 234 -516 750 x

Result on interest derivativessup2 -8 -24 16 x


thereof


Exchange rate changes of receivables and liabilities -213 -379 (166) (781)

Net income from equity investments -88 23 112 x


Currency Other derivatives 394 282 (112) (285)

thereof Valuation 282 271 (11) (37)

thereof Realization 112 10 (102) (907)




1 Quartal 2 Quartal b(s) Vorjahr Q1 2 Quartal Q2 b(w) prior year

Sonder-einfluumlsse VJ Sonder-einfluumlsse

euro million 2020 2020 absolut 2020 2020 absolute b(s) Vj


thereof


Other hedging -944 214 1159 x - -944 - 214 1159 x


Reversal of provisions 185 293 108 585 - 185 93 200 15 81

Rental income 36 37 1 28 - 36 - 37 1 28




Other incomeexpenses -122 -199 (78) (637) - -122 -734 534 656 x

thereof litigation expenses -191 -875 (684) x - -191 -734 -141 50 263

thereof Gain of contribution AID to Argo - - - 833 833 x


Q1 Q2 b(w) prior year 2 Quartal b(s) Vj




thereof


Other hedging -944 214 1159 x - -944 - 214 1159 x


Reversal of provisions1 185 293 108 585 - 185 93 200 15 81

Rental income 36 37 1 28 - 36 - 37 1 28




Other incomeexpenses2 -122 -199 (78) (637) - -122 -734 534 656 x



sup1 Incl special items from Diesel issue Q2 euro93 million

sup2 Incl special items from Diesel issue Q2 euro-734 million





thereof



Other administrative expenses 48 -32 80 x






thereof







thereof Deferral of fixed costs in sales orga 138 113 25 181











thereof


Warranty costs 1121 11 1167 11 (46) (41) - 1121 - 1167 (46) (41)


Deferral of fixed costs 816 08 314 03 502 616 - 816 - 314 502 616




Capitalized own research development costs -1550 (16) -1370 (13) (179) (116) - -1550 - -1370 (179) (116)





Services Accounting -411 (04) -725 (07) 314 762 - -411 - -725 314 762

Other -11 (00) -277 (03) 266 x - -11 - -277 266 x





1 Quartal 2 Quartal b(s) Vorjahr Q1 Q2 b(w) prior year


euro million 2020 in UE 2020 in UE absolut in 2020 2020 absolute

Total cost of sales 45824 467 37404 357 8420 184 - 45824 46 37358 8465 185

thereof


Warranty costs 1121 11 1167 11 (46) (41) - 1121 99 1068 53 47












Other -11 (00) -277 (03) 266 x - -11 -53 -224 212 x




euro million 2020 in UE 2020 in UE absolute in 2020 2020 absolut


thereof


Warranty costs1 1121 11 1167 11 (46) (41) - 1121 99 1068 53 47












Other2 -11 (00) -277 (03) 266 x - -11 -53 -224 212 x





1 Quartal 2 Quartal b(s) Vj Q1 Q2 b(w) py


euro million 2020 2020 2020 2020

Sales revenue 55054 1000 41076 1000 (254) 55054 1000 41076 1000 (254)

Cost of sales -45824 -832 -37404 -911 184 - -45824 -832 -46 -37358 -909 185

Gross profit 9231 168 3672 89 (602) 9231 168 3718 91 (597)









Ertragsteuern -165 -03 498 12 x

Ergebnis nach Steuern 517 09 -1536 -37 x


Q1 Q2 b(w) py 2 Quartal b(s) Vj


euro million 2020 2020 2020 2020

Sales revenue 55054 1000 41076 1000 (254) 55054 1000 41076 1000 (254)

Cost of sales1 -45824 -832 -37404 -911 184 - -45824 sup2 -832 -46 -37358 -909 185

Gross profit 9231 168 3672 89 (602) 9231 168 3718 91 (597)













Wesentliche Finanzzahlen Volkswagen Konzern



Sales revenue 55054 41076 (13978) (254)




Operating profitsup2 904 -2394 (3298) x















Sales revenue 55054 41076 (13978) (254)
















Inhaltsverzeichnis

01 Deckblatt



05 GuV


10 Vertriebskosten






21 Cash-Flow Pkw


24 F amp E Kosten



29 Finanzergebnis

Bilanz_GuV_Akt

Bilanz_GuV_Vgl

Bilanz 3112

Cashflow KK GJ

Cashflow KK Vgl

Umsatz Dritte GJ

Umsatz Dritte Vgl

Umsatz Dritte GJ VQ

Absatz MG GJ

Absatz MG Vgl

Absatz Marken GJ

Absatz Marken Vgl

Vorstandscharts


3 Lauf



Third Parties


2020 2020 2020 2020 2020 2020 2020 2020 2020 2020


Audi 266 335 12788 16710 7382 9243 864 2456 864 2456

Skoda 224 253 4493 5043 1826 1912 240 288 240 288

SEAT 122 165 2294 3155 1371 1696 -20 -49 -20 -49

Bentley 3 4 537 652 322 366 47 72 47 72


VW Com Vehicles 93 95 2436 2684 1151 1196 -27 -92 -27 -92











thereof





FS Division 11070 10592 10158 9596 541 1223 541 1223










thereof


Other hedging 178 455 277 x - 178 - 455 277 x



Rental income 36 36 0 10 - 36 - 36 0 10














thereof


Warranty costs 1248 13 1652 16 (404) (324) - 1248 - 1652 (404) (324)












Other -326 (03) -1027 (10) 701 x - -326 - -1027 701 x






euro million 2020 2020 2020 2020

Sales revenue 59355 1000 67398 1000 135 59355 1000 67398 1000 135

Cost of sales -48928 -824 -51780 -768 (58) - -48928 sup2 -824 - -51780 -768 (58)

Gross profit 10427 176 15617 232 498 10427 176 15617 232 498
















Sales revenue 59355 67398 8042 135


















Position 3000 3010 3021 3022 3023 3280 3030 3035 3027 3200 3210 3205 3270 3272 3340 3320 3325 3361 3415 3160 3330

Gesamtergebnis 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

IB9999 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

299999 -436507758823 -45129364845 12419261221 0 -10635442015 -23072997805 6417339959 8336140485 -482769505002 -360905616744 -387995784154 -44554859665 -4262837325 -46376905702 -87849327348 -23503890829 -20557638019 1047811877419

299999

199999 412196456951 25711908174 249140985 0 2108693579 163456413199 -12479000498 20830977763 35974639744 -8632063388 4230395449 12643673581 -2952633834 53740778213 496534942 -3416238 35792730168 222228211731

199999

111999 87918650522 78301517505 5510315369 17788913326 1225415175 -15421894 1606556112 16401943839 1113758199 3479417537 2365659338 -3159342918 41242233823 31052376 3286699911 21037791299 -384613825

111999

111199 -1842676415 -1776296573 1016133625 31487 -66379842 1243852 -379751 -815181799 -721314419 -721339265 -24846 2960969865 -250225 -1069590363 3546580332 -381290201

111199

111110 169114321 198850219 -379751 7884 -29735898 1243852 -379751 353385203 345603839 345578993 -24846 84685269 -250225 19435617 -7304839 -381290201

111115 2762671932 2762671932 -106292829 -106292829 -106292829 2876284596 -7319835

111116

111120 -3754885315 -3739578019 0 -15307296 -672833

111130 -2001136713 -2001136713 3140816 -1062274173 -960625429 -960625429 -12632737 3570028328

111140 98155936 1002896008 1016513376 -21336648 -8823322

111150 0 0 0 0

111299 2500260528 2553495186 3118700291 -53234658 189210194 -8662238 -42909474 -42909474 -103015459 -103015459

111299

111210 2500260528 2553495186 3118700291 -53234658 189210194 -8662238 -42909474 -42909474 -103015459 -103015459

111399 48886092075 40494374233 156102462 6323884952 156102462 3637994005 -452273529 194128791 2393561439 -3136915382 34379404531 1447334863 5084923382

111399

111310 41893304229 33501586387 -1055297774 7911411795 -1055297774 -152661596 -1822880246 -237194767 1585685479 -7046789765 33208597616 9754838893 9960708261

111320 6992787846 6992787846 1211400236 -1587526843 1211400236 5164609965 1370606717 2178482677 80787596 3909874383 1170806915 -830750403 -4875784879

111330

111499 38374974334 37029944659 -185543167 11461879674 1345029675 -16665746 -143298951 13665754013 2287346147 2302378366 15032219 -22427536 4004874886 413789444 2908955411 12406287585 -3323624

111499

111410 21976128676 21617032746 -143298951 86544508 35909593 -16665746 -143298951 604430169 123805685 141480437 17674752 -22427536 351761694 273698912 4291896545 12249239943 -3323624

111420 1375409231 131265743 0 1244143488 0 263486 263486 263486 57408346 940409

111430 1507544118 15333650923 11375335166 -258209743 13058688984 2160905602 2158263069 -2642533 3653113192 140090532 -144034948 63006742

111440

111441

111470 0

111480 -52004753 -52004753 -42244216 0 0

112999 99667678855 99975771182 9864719694 2326593494 -4990869802 -27303196 9685358214 46004214018 16372446085 2517728787 8792195388 -205630844 6213220273 -45526088 31398203179 -5987408857 -116999887

112999

112110 39604787894 34845333036 3530626918 471096937 -1015211826 -176545 3351265438 1019122233 -592793325 718337646 7776169785 23018723 49525828 -126680899 21233470103 594492516 951410319

112120 15708324054 16637058091 2021158712 -54600738 -276824605 -10646249 2021158712 10816091619 9009350431 10047470521 103150351 -7698206 4889557075 -144008696 2482954697 -1390886179 -113691109

112299 46283638097 46263933895 -110662673 12680891261 19664019 -110662673 31207643387 -1173697413 12155569045 13329266458 131404449 -78983844 20825056 9341400239 358570436 1183145839

112299

112210 4634605751 46326393491 -118416496 12683657884 19664019 -118416496 31261237153 -112305042 12206268986 13329319406 131404449 1346452 20825056 9348195791 369418697 1183156019

112220 -62419413 -62459596 7753823 -2766623 7753823 -53593766 -50646993 -50699941 -52948 -92448364 -6795552 -10848261 -1018

112399 81912262326 82182178053 2234477667 15646492393 170104233 -14891497 2234477667 42724472379 9139608189 12241398072 3101789883 -35235581 2073950496 203533493 12993568591 16401052427 -375567877

112399

112310 13871433627 13464837716 1481389494 3569979339 150640456 -7882703 1481389494 6192981955 1053164444 2347170929 1294006485 16856116 1399430634 212595661 1847078642 1308455688 -78523114

112320 67139559892 67139559892 461164782 11821389749 461164782 3526297616 6778630028 8818557468 203992744 -361851837 846626434 9657784362 14901390587

112330 901577031 1578088669 291923391 255123305 19463777 -7008794 291923391 1268514264 1307813717 1075669675 -232144042 -7360089 -17203205 -8987646 1488705587 191206152 -297044763

112340 -308224 -308224 -74522 -74522

112410 -83841333516 -79952731893 218911907 -26417286359 -3888601623 218911907 -48935215697 -10021797 -16450526228 -16446534248 -720829282 804958 -14653190451 -21950638057 -1762297059

113999 47880745306 2857656824 388218702 45594491585 69014778 388218702 98595252 6883178 6883178 36034241 -26148

113999

113110 -371588304 119664462 3664126 4649211212 3664126 98595252 9111638 9111638

113111 -25476475 -25476475 0 0 -26148

113112 37520988 -15549 -15549 33670378 -15549

113113

113114 43983612862 -876414377 -928951016 38730714774 -928951016 36034241

113115 -003 1564117746 58361342

113120 0 0

113210 607924054 607924054

113410 3878040459 3869187038 1313521141 8853421 10653436 1313521141 -222846 -222846

114999 1951449077 -121052867 895956638 -77325459 -77325459 -77325459 -1776001534

114999

114110 3574911794 -104820895 4707340063 -77325459 -77325459 -77325459 -63717943

114120 -3861154401 0 -3861154401 0

114130 2237691684 -1105707775 49770976 -1138822104

115999 54815719765 74663291267 4304547195 0 -14092792061 -4632902 4304547195 411415979 8495799144 8495799144 0 -19605 7017805243 38143 -5484767646 2185645494 20248767469

115999

115199 66995265715 74906400125 362852014 0 -7083216659 362852014 -4229036607 175166667 175166667 -5832954269 684915683 45042787943

115199

115110 -3626714094 4284420316 413415317 -7083216659 413415317 0 -1184618 -19518323 0

115115 0 0 0 0 0 0

115125 0 0 0 0 0

115120 70621979809 70621979809 -50563303 0 -50563303 -4229036607 175166667 175166667 -5714492469 704434006 45042787943

115299 -1217954595 -243108858 3941695181 -7009575402 -4632902 3941695181 8343196397 8320632477 8320632477 0 -19605 7017805243 38143 348186623 1500729811 157444886747

115299

115210 0 2938462478 2579393343 638363074 0 2579393343 835456786 835456786 835456786 0 0 -2500000 0 359069135 0 170827978057

115220 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

115230 -10278762719 -3068950276 -7209812443 -4632902 -6909027 -35223933 -35223933 -19605 72677671 -100437836 1501954811 -11360285357

115240 -977344742 -189498904 575571 -787845838 575571 -4462436 128855 128855 38143 38143 -22497197 -122954753

115250 -1522564464 -1526969621 6474036 4405157 6474036 0 0 0 149981343 -12250 -16822000

115260 787025672 1791747162 1355252231 345314648 0 1355252231 149970875 -2176512

115270

115280 0 0 0 0

115290 -187899697 -187899697 -187899697

149999 129494684268 -35452593 129138895257 -11239407108 -27782082 -27782082 -27782082 1090216354 -76074243

149999

144999 28036207613 28036207613 -10613952582

144999

141999 24062736093 24062736093 -10890518052

141999

141110 24062736091 24062736091 -10890518052

141115 002 002

141150

141180

142999 3979161649 3979161649 27656547

142999

Financial Result




thereof


Interest result -407 -520 (113) (278)




Q4 2020 2020 2020 2020


North America 205 239 166 9915 10965 106

South America 139 149 71 2175 2753 266

AsiaPacific 1148 1255 93 11113 13908 251

Total 2575 2846 105 59390 67287 133





Third Parties


2020 2020 2020 2020 2020 2020 2020 2020 2020 2020


Audi 266 335 12788 16710 7382 9243 864 2518 864 2456

Skoda 224 253 4493 5043 1826 1912 240 288 240 288

SEAT 122 165 2294 3155 1371 1696 -20 -49 -20 -49

Bentley 3 4 537 652 322 366 47 72 47 72


VW Com Vehicles 93 95 2436 2684 1151 1196 -27 -92 -27 -92











thereof





FS Division 11070 10592 10158 9596 541 1223 541 1223









costs 3496 3693 (197) (56)














Total 3981 914 (3066) (770)







Change in financial







Gross cash flow 5454 10216 4762 873




thereof





Net cash flow 5968 3929 (2040) (342)



Net liquidity 09-30-202012-31-2020 25608 26847 1239 48

Net liquidity 12-31-201912-31-2020 19878 26847 6969 351






Gross cash flow 6182 10635 4453 720




thereof





Net cash flow 6224 4939 (1285) (206)



Net liquidity 09-30-202012-31-2020 24848 26796 1949 78

Net liquidity 12-31-201912-31-2020 21276 26796 5520 259






Total 855 738 (117) (137)

thereof








Argo -34 -44 (10) (281)

Navistar -10 -34 (24) x

Northvoltsup3 -15 -21 (6) (408)






Financial Result





Interest result -407 -520 (113) (278)






thereof















thereof


Other hedging 178 455 277 x - 178 - 455 277 x



Rental income 36 36 0 10 - 36 - 36 0 10













thereof


Other hedging 178 455 277 x - 178 - 455 277 x



Rental income 36 36 0 10 - 36 - 36 0 10














thereof









thereof


Sales Expenses 1229 1861 (632) (514)

















thereof




















thereof





















euro million 2020 2020 2020 2020

Sales revenue 59355 1000 67398 1000 135 59355 1000 67398 1000 135

Cost of sales -48928 -824 -51780 -768 (58) - -48928 -824 117 -51897 -770 (61)

Gross profit 10427 176 15617 232 498 10427 176 15500 230 487














euro million 2020 2020 2020 2020

Sales revenue 59355 1000 67398 1000 135 59355 1000 67398 1000 135

Cost of sales1 -48928 -824 -51780 -768 (58) - -48928 sup2 -824 117 -51897 -770 (61)

Gross profit 10427 176 15617 232 498 10427 176 15500 230 487
















Sales revenue 59355 67398 8042 135



















Sales revenue 59355 67398 8042 135
















Inhaltsverzeichnis

01 Deckblatt



05 GuV


10 Vertriebskosten






21 Cash-Flow Pkw


24 F amp E Kosten




29 Finanzergebnis

Bilanz_GuV_Akt

Bilanz_GuV_Vgl

Bilanz 3112

Cashflow KK GJ

Cashflow KK Vgl

Umsatz Dritte GJ

Umsatz Dritte Vgl

Umsatz Dritte GJ VQ

Absatz MG GJ

Absatz MG Vgl

Absatz Marken GJ

Vorstandscharts


5 Lauf



Third Parties


2019 2020 2019 2020 2019 2020 2019 2020 2019 2020


Audi 300 335 14348 16710 7906 9243 1271 2456 1271 2456

Skoda 257 253 4995 5043 2402 1912 485 288 485 288

SEAT 151 165 2667 3155 1427 1696 197 -49 197 -49

Bentley 4 4 786 652 539 366 0 72 0 72


VW Com Vehicles 111 95 2717 2684 1062 1196 13 -92 13 -92









Sspecial items - -


thereof





FS Division 10573 10592 9516 9596 986 1223 986 1223










thereof


Other hedging -332 455 787 x - -332 - 455 787 x



Rental income 36 36 0 02 - 36 - 36 0 02














thereof




















euro million 2019 2020 2019 2020

Sales revenue 66015 1000 67398 1000 21 66015 1000 67398 1000 21

Cost of sales -53254 -807 -51780 -768 28 - -53254 sup2 -807 - -51780 -768 28

Gross profit 12761 193 15617 232 224 12761 193 15617 232 224
















Sales revenue 66015 67398 1383 21


















Position 3000 3010 3021 3022 3023 3280 3030 3035 3027 3200 3210 3205 3270 3272 3340 3320 3325 3361 3415 3160 3330

Gesamtergebnis 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

IB9999 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

299999 -436507758823 -45129364845 12419261221 0 -10635442015 -23072997805 6417339959 8336140485 -482769505002 -360905616744 -387995784154 -44554859665 -4262837325 -46376905702 -87849327348 -23503890829 -20557638019 1047811877419

299999

199999 412196456951 25711908174 249140985 0 2108693579 163456413199 -12479000498 20830977763 35974639744 -8632063388 4230395449 12643673581 -2952633834 53740778213 496534942 -3416238 35792730168 222228211731

199999

111999 87918650522 78301517505 5510315369 17788913326 1225415175 -15421894 1606556112 16401943839 1113758199 3479417537 2365659338 -3159342918 41242233823 31052376 3286699911 21037791299 -384613825

111999

111199 -1842676415 -1776296573 1016133625 31487 -66379842 1243852 -379751 -815181799 -721314419 -721339265 -24846 2960969865 -250225 -1069590363 3546580332 -381290201

111199

111110 169114321 198850219 -379751 7884 -29735898 1243852 -379751 353385203 345603839 345578993 -24846 84685269 -250225 19435617 -7304839 -381290201

111115 2762671932 2762671932 -106292829 -106292829 -106292829 2876284596 -7319835

111116

111120 -3754885315 -3739578019 0 -15307296 -672833

111130 -2001136713 -2001136713 3140816 -1062274173 -960625429 -960625429 -12632737 3570028328

111140 98155936 1002896008 1016513376 -21336648 -8823322

111150 0 0 0 0

111299 2500260528 2553495186 3118700291 -53234658 189210194 -8662238 -42909474 -42909474 -103015459 -103015459

111299

111210 2500260528 2553495186 3118700291 -53234658 189210194 -8662238 -42909474 -42909474 -103015459 -103015459

111399 48886092075 40494374233 156102462 6323884952 156102462 3637994005 -452273529 194128791 2393561439 -3136915382 34379404531 1447334863 5084923382

111399

111310 41893304229 33501586387 -1055297774 7911411795 -1055297774 -152661596 -1822880246 -237194767 1585685479 -7046789765 33208597616 9754838893 9960708261

111320 6992787846 6992787846 1211400236 -1587526843 1211400236 5164609965 1370606717 2178482677 80787596 3909874383 1170806915 -830750403 -4875784879

111330

111499 38374974334 37029944659 -185543167 11461879674 1345029675 -16665746 -143298951 13665754013 2287346147 2302378366 15032219 -22427536 4004874886 413789444 2908955411 12406287585 -3323624

111499

111410 21976128676 21617032746 -143298951 86544508 35909593 -16665746 -143298951 604430169 123805685 141480437 17674752 -22427536 351761694 273698912 4291896545 12249239943 -3323624

111420 1375409231 131265743 0 1244143488 0 263486 263486 263486 57408346 940409

111430 1507544118 15333650923 11375335166 -258209743 13058688984 2160905602 2158263069 -2642533 3653113192 140090532 -144034948 63006742

111440

111441

111470 0

111480 -52004753 -52004753 -42244216 0 0

112999 99667678855 99975771182 9864719694 2326593494 -4990869802 -27303196 9685358214 46004214018 16372446085 2517728787 8792195388 -205630844 6213220273 -45526088 31398203179 -5987408857 -116999887

112999

112110 39604787894 34845333036 3530626918 471096937 -1015211826 -176545 3351265438 1019122233 -592793325 718337646 7776169785 23018723 49525828 -126680899 21233470103 594492516 951410319

112120 15708324054 16637058091 2021158712 -54600738 -276824605 -10646249 2021158712 10816091619 9009350431 10047470521 103150351 -7698206 4889557075 -144008696 2482954697 -1390886179 -113691109

112299 46283638097 46263933895 -110662673 12680891261 19664019 -110662673 31207643387 -1173697413 12155569045 13329266458 131404449 -78983844 20825056 9341400239 358570436 1183145839

112299

112210 4634605751 46326393491 -118416496 12683657884 19664019 -118416496 31261237153 -112305042 12206268986 13329319406 131404449 1346452 20825056 9348195791 369418697 1183156019

112220 -62419413 -62459596 7753823 -2766623 7753823 -53593766 -50646993 -50699941 -52948 -92448364 -6795552 -10848261 -1018

112399 81912262326 82182178053 2234477667 15646492393 170104233 -14891497 2234477667 42724472379 9139608189 12241398072 3101789883 -35235581 2073950496 203533493 12993568591 16401052427 -375567877

112399

112310 13871433627 13464837716 1481389494 3569979339 150640456 -7882703 1481389494 6192981955 1053164444 2347170929 1294006485 16856116 1399430634 212595661 1847078642 1308455688 -78523114

112320 67139559892 67139559892 461164782 11821389749 461164782 3526297616 6778630028 8818557468 203992744 -361851837 846626434 9657784362 14901390587

112330 901577031 1578088669 291923391 255123305 19463777 -7008794 291923391 1268514264 1307813717 1075669675 -232144042 -7360089 -17203205 -8987646 1488705587 191206152 -297044763

112340 -308224 -308224 -74522 -74522

112410 -83841333516 -79952731893 218911907 -26417286359 -3888601623 218911907 -48935215697 -10021797 -16450526228 -16446534248 -720829282 804958 -14653190451 -21950638057 -1762297059

113999 47880745306 2857656824 388218702 45594491585 69014778 388218702 98595252 6883178 6883178 36034241 -26148

113999

113110 -371588304 119664462 3664126 4649211212 3664126 98595252 9111638 9111638

113111 -25476475 -25476475 0 0 -26148

113112 37520988 -15549 -15549 33670378 -15549

113113

113114 43983612862 -876414377 -928951016 38730714774 -928951016 36034241

113115 -003 1564117746 58361342

113120 0 0

113210 607924054 607924054

113410 3878040459 3869187038 1313521141 8853421 10653436 1313521141 -222846 -222846

114999 1951449077 -121052867 895956638 -77325459 -77325459 -77325459 -1776001534

114999

114110 3574911794 -104820895 4707340063 -77325459 -77325459 -77325459 -63717943

114120 -3861154401 0 -3861154401 0

114130 2237691684 -1105707775 49770976 -1138822104

115999 54815719765 74663291267 4304547195 0 -14092792061 -4632902 4304547195 411415979 8495799144 8495799144 0 -19605 7017805243 38143 -5484767646 2185645494 20248767469

115999

115199 66995265715 74906400125 362852014 0 -7083216659 362852014 -4229036607 175166667 175166667 -5832954269 684915683 45042787943

115199

115110 -3626714094 4284420316 413415317 -7083216659 413415317 0 -1184618 -19518323 0

115115 0 0 0 0 0 0

115125 0 0 0 0 0

115120 70621979809 70621979809 -50563303 0 -50563303 -4229036607 175166667 175166667 -5714492469 704434006 45042787943

115299 -1217954595 -243108858 3941695181 -7009575402 -4632902 3941695181 8343196397 8320632477 8320632477 0 -19605 7017805243 38143 348186623 1500729811 157444886747

115299

115210 0 2938462478 2579393343 638363074 0 2579393343 835456786 835456786 835456786 0 0 -2500000 0 359069135 0 170827978057

115220 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

115230 -10278762719 -3068950276 -7209812443 -4632902 -6909027 -35223933 -35223933 -19605 72677671 -100437836 1501954811 -11360285357

115240 -977344742 -189498904 575571 -787845838 575571 -4462436 128855 128855 38143 38143 -22497197 -122954753

115250 -1522564464 -1526969621 6474036 4405157 6474036 0 0 0 149981343 -12250 -16822000

115260 787025672 1791747162 1355252231 345314648 0 1355252231 149970875 -2176512

115270

115280 0 0 0 0

115290 -187899697 -187899697 -187899697

149999 129494684268 -35452593 129138895257 -11239407108 -27782082 -27782082 -27782082 1090216354 -76074243

149999

144999 28036207613 28036207613 -10613952582

144999

141999 24062736093 24062736093 -10890518052

141999

141110 24062736091 24062736091 -10890518052

141115 002 002

141150

141180

142999 3979161649 3979161649 27656547

142999

Financial Result




thereof


Interest result -278 -520 (242) (871)




Q4 2019 2020 2019 2020


North America 219 239 93 10474 10965 47

South America 162 149 (78) 2865 2753 (39)

AsiaPacific 1367 1255 (82) 12664 13908 98

Total 2973 2846 (43) 66075 67287 18





Third Parties


2019 2020 2019 2020 2019 2020 2019 2020 2019 2020


Audi 300 335 14348 16710 7906 9243 1271 2518 1271 2456

Skoda 257 253 4995 5043 2402 1912 485 288 485 288

SEAT 151 165 2667 3155 1427 1696 197 -49 197 -49

Bentley 4 4 786 652 539 366 0 72 0 72


VW Com Vehicles 111 95 2717 2684 1062 1196 13 -92 13 -92











thereof





FS Division 10573 10592 9516 9596 986 1223 986 1223









costs 3609 3693 (84) (23)














Total 3039 914 (2125) (699)







Change in financial



03022021 AT




Gross cash flow 5908 10216 4308 729




thereof








Net liquidity 12-31-201912-31-2020 19878 26847 6969 351






Gross cash flow 6774 10635 3861 570




thereof








Net liquidity 12-31-201912-31-2020 21276 26796 5520 259






Total 754 738 (16) (21)

thereof








Argo - -44 (44) x








Financial Result





Interest result -278 -520 (242) (871)






thereof















thereof


Other hedging -332 455 787 x - -332 - 455 787 x



Rental income 36 36 0 02 - 36 - 36 0 02













thereof


Other hedging -332 455 787 x - -332 - 455 787 x



Rental income 36 36 0 02 - 36 - 36 0 02














thereof









thereof



















thereof




















thereof





















euro million 2019 2020 2019 2020

Sales revenue 66015 1000 67398 1000 21 66015 1000 67398 1000 21

Cost of sales -53254 -807 -51780 -768 28 296 -53550 -811 117 -51897 -770 31

Gross profit 12761 193 15617 232 224 12465 189 15500 230 243














euro million 2019 2020 2019 2020

Sales revenue 66015 1000 67398 1000 21 66015 1000 67398 1000 21

Cost of sales1 -53254 -807 -51780 -768 28 296 -53550 sup2 -811 117 -51897 -770 31

Gross profit 12761 193 15617 232 224 12465 189 15500 230 243
















Sales revenue 66015 67398 1383 21



Special items -1080 -245 835 773
















Sales revenue 66015 67398 1383 21
















Inhaltsverzeichnis

01 Deckblatt



05 GuV


10 Vertriebskosten






21 Cash-Flow Pkw


24 F amp E Kosten




29 Finanzergebnis

Bilanz_GuV_Akt

Bilanz_GuV_Vgl

Bilanz 3112

Cashflow KK GJ

Cashflow KK Vgl

Umsatz Dritte GJ

Umsatz Dritte Vgl

Umsatz Dritte GJ VQ

Absatz MG GJ

Absatz MG Vgl

Absatz Marken GJ

Vorstandscharts


5 Lauf



Third Parties


2019 2020 2019 2020 2019 2020 2019 2020 2019 2020


Audi 300 335 14348 16710 7906 9243 1271 2456 1271 2456

Skoda 257 253 4995 5043 2402 1912 485 288 485 288

SEAT 151 165 2667 3155 1427 1696 197 -49 197 -49

Bentley 4 4 786 652 539 366 0 72 0 72


VW Com Vehicles 111 95 2717 2684 1062 1196 13 -92 13 -92









Sspecial items - -


thereof





FS Division 10573 10592 9516 9596 986 1223 986 1223










thereof


Other hedging -332 455 787 x - -332 - 455 787 x



Rental income 36 36 0 02 - 36 - 36 0 02














thereof




















euro million 2019 2020 2019 2020

Sales revenue 66015 1000 67398 1000 21 66015 1000 67398 1000 21

Cost of sales -53254 -807 -51780 -768 28 - -53254 sup2 -807 - -51780 -768 28

Gross profit 12761 193 15617 232 224 12761 193 15617 232 224
















Sales revenue 66015 67398 1383 21


















Position 3000 3010 3021 3022 3023 3280 3030 3035 3027 3200 3210 3205 3270 3272 3340 3320 3325 3361 3415 3160 3330

Gesamtergebnis 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

IB9999 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

299999 -436507758823 -45129364845 12419261221 0 -10635442015 -23072997805 6417339959 8336140485 -482769505002 -360905616744 -387995784154 -44554859665 -4262837325 -46376905702 -87849327348 -23503890829 -20557638019 1047811877419

299999

199999 412196456951 25711908174 249140985 0 2108693579 163456413199 -12479000498 20830977763 35974639744 -8632063388 4230395449 12643673581 -2952633834 53740778213 496534942 -3416238 35792730168 222228211731

199999

111999 87918650522 78301517505 5510315369 17788913326 1225415175 -15421894 1606556112 16401943839 1113758199 3479417537 2365659338 -3159342918 41242233823 31052376 3286699911 21037791299 -384613825

111999

111199 -1842676415 -1776296573 1016133625 31487 -66379842 1243852 -379751 -815181799 -721314419 -721339265 -24846 2960969865 -250225 -1069590363 3546580332 -381290201

111199

111110 169114321 198850219 -379751 7884 -29735898 1243852 -379751 353385203 345603839 345578993 -24846 84685269 -250225 19435617 -7304839 -381290201

111115 2762671932 2762671932 -106292829 -106292829 -106292829 2876284596 -7319835

111116

111120 -3754885315 -3739578019 0 -15307296 -672833

111130 -2001136713 -2001136713 3140816 -1062274173 -960625429 -960625429 -12632737 3570028328

111140 98155936 1002896008 1016513376 -21336648 -8823322

111150 0 0 0 0

111299 2500260528 2553495186 3118700291 -53234658 189210194 -8662238 -42909474 -42909474 -103015459 -103015459

111299

111210 2500260528 2553495186 3118700291 -53234658 189210194 -8662238 -42909474 -42909474 -103015459 -103015459

111399 48886092075 40494374233 156102462 6323884952 156102462 3637994005 -452273529 194128791 2393561439 -3136915382 34379404531 1447334863 5084923382

111399

111310 41893304229 33501586387 -1055297774 7911411795 -1055297774 -152661596 -1822880246 -237194767 1585685479 -7046789765 33208597616 9754838893 9960708261

111320 6992787846 6992787846 1211400236 -1587526843 1211400236 5164609965 1370606717 2178482677 80787596 3909874383 1170806915 -830750403 -4875784879

111330

111499 38374974334 37029944659 -185543167 11461879674 1345029675 -16665746 -143298951 13665754013 2287346147 2302378366 15032219 -22427536 4004874886 413789444 2908955411 12406287585 -3323624

111499

111410 21976128676 21617032746 -143298951 86544508 35909593 -16665746 -143298951 604430169 123805685 141480437 17674752 -22427536 351761694 273698912 4291896545 12249239943 -3323624

111420 1375409231 131265743 0 1244143488 0 263486 263486 263486 57408346 940409

111430 1507544118 15333650923 11375335166 -258209743 13058688984 2160905602 2158263069 -2642533 3653113192 140090532 -144034948 63006742

111440

111441

111470 0

111480 -52004753 -52004753 -42244216 0 0

112999 99667678855 99975771182 9864719694 2326593494 -4990869802 -27303196 9685358214 46004214018 16372446085 2517728787 8792195388 -205630844 6213220273 -45526088 31398203179 -5987408857 -116999887

112999

112110 39604787894 34845333036 3530626918 471096937 -1015211826 -176545 3351265438 1019122233 -592793325 718337646 7776169785 23018723 49525828 -126680899 21233470103 594492516 951410319

112120 15708324054 16637058091 2021158712 -54600738 -276824605 -10646249 2021158712 10816091619 9009350431 10047470521 103150351 -7698206 4889557075 -144008696 2482954697 -1390886179 -113691109

112299 46283638097 46263933895 -110662673 12680891261 19664019 -110662673 31207643387 -1173697413 12155569045 13329266458 131404449 -78983844 20825056 9341400239 358570436 1183145839

112299

112210 4634605751 46326393491 -118416496 12683657884 19664019 -118416496 31261237153 -112305042 12206268986 13329319406 131404449 1346452 20825056 9348195791 369418697 1183156019

112220 -62419413 -62459596 7753823 -2766623 7753823 -53593766 -50646993 -50699941 -52948 -92448364 -6795552 -10848261 -1018

112399 81912262326 82182178053 2234477667 15646492393 170104233 -14891497 2234477667 42724472379 9139608189 12241398072 3101789883 -35235581 2073950496 203533493 12993568591 16401052427 -375567877

112399

112310 13871433627 13464837716 1481389494 3569979339 150640456 -7882703 1481389494 6192981955 1053164444 2347170929 1294006485 16856116 1399430634 212595661 1847078642 1308455688 -78523114

112320 67139559892 67139559892 461164782 11821389749 461164782 3526297616 6778630028 8818557468 203992744 -361851837 846626434 9657784362 14901390587

112330 901577031 1578088669 291923391 255123305 19463777 -7008794 291923391 1268514264 1307813717 1075669675 -232144042 -7360089 -17203205 -8987646 1488705587 191206152 -297044763

112340 -308224 -308224 -74522 -74522

112410 -83841333516 -79952731893 218911907 -26417286359 -3888601623 218911907 -48935215697 -10021797 -16450526228 -16446534248 -720829282 804958 -14653190451 -21950638057 -1762297059

113999 47880745306 2857656824 388218702 45594491585 69014778 388218702 98595252 6883178 6883178 36034241 -26148

113999

113110 -371588304 119664462 3664126 4649211212 3664126 98595252 9111638 9111638

113111 -25476475 -25476475 0 0 -26148

113112 37520988 -15549 -15549 33670378 -15549

113113

113114 43983612862 -876414377 -928951016 38730714774 -928951016 36034241

113115 -003 1564117746 58361342

113120 0 0

113210 607924054 607924054

113410 3878040459 3869187038 1313521141 8853421 10653436 1313521141 -222846 -222846

114999 1951449077 -121052867 895956638 -77325459 -77325459 -77325459 -1776001534

114999

114110 3574911794 -104820895 4707340063 -77325459 -77325459 -77325459 -63717943

114120 -3861154401 0 -3861154401 0

114130 2237691684 -1105707775 49770976 -1138822104

115999 54815719765 74663291267 4304547195 0 -14092792061 -4632902 4304547195 411415979 8495799144 8495799144 0 -19605 7017805243 38143 -5484767646 2185645494 20248767469

115999

115199 66995265715 74906400125 362852014 0 -7083216659 362852014 -4229036607 175166667 175166667 -5832954269 684915683 45042787943

115199

115110 -3626714094 4284420316 413415317 -7083216659 413415317 0 -1184618 -19518323 0

115115 0 0 0 0 0 0

115125 0 0 0 0 0

115120 70621979809 70621979809 -50563303 0 -50563303 -4229036607 175166667 175166667 -5714492469 704434006 45042787943

115299 -1217954595 -243108858 3941695181 -7009575402 -4632902 3941695181 8343196397 8320632477 8320632477 0 -19605 7017805243 38143 348186623 1500729811 157444886747

115299

115210 0 2938462478 2579393343 638363074 0 2579393343 835456786 835456786 835456786 0 0 -2500000 0 359069135 0 170827978057

115220 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

115230 -10278762719 -3068950276 -7209812443 -4632902 -6909027 -35223933 -35223933 -19605 72677671 -100437836 1501954811 -11360285357

115240 -977344742 -189498904 575571 -787845838 575571 -4462436 128855 128855 38143 38143 -22497197 -122954753

115250 -1522564464 -1526969621 6474036 4405157 6474036 0 0 0 149981343 -12250 -16822000

115260 787025672 1791747162 1355252231 345314648 0 1355252231 149970875 -2176512

115270

115280 0 0 0 0

115290 -187899697 -187899697 -187899697

149999 129494684268 -35452593 129138895257 -11239407108 -27782082 -27782082 -27782082 1090216354 -76074243

149999

144999 28036207613 28036207613 -10613952582

144999

141999 24062736093 24062736093 -10890518052

141999

141110 24062736091 24062736091 -10890518052

141115 002 002

141150

141180

142999 3979161649 3979161649 27656547

142999

Financial Result




thereof


Interest result -278 -520 (242) (871)




Q4 2019 2020 2019 2020


North America 219 239 93 10474 10965 47

South America 162 149 (78) 2865 2753 (39)

AsiaPacific 1367 1255 (82) 12664 13908 98

Total 2973 2846 (43) 66075 67287 18





Third Parties


2019 2020 2019 2020 2019 2020 2019 2020 2019 2020


Audi 300 335 14348 16710 7906 9243 1271 2518 1271 2456

Skoda 257 253 4995 5043 2402 1912 485 288 485 288

SEAT 151 165 2667 3155 1427 1696 197 -49 197 -49

Bentley 4 4 786 652 539 366 0 72 0 72


VW Com Vehicles 111 95 2717 2684 1062 1196 13 -92 13 -92











thereof





FS Division 10573 10592 9516 9596 986 1223 986 1223









costs 3609 3693 (84) (23)














Total 3039 914 (2125) (699)







Change in financial



03022021 AT




Gross cash flow 5908 10216 4308 729




thereof








Net liquidity 12-31-201912-31-2020 19878 26847 6969 351






Gross cash flow 6774 10635 3861 570




thereof








Net liquidity 12-31-201912-31-2020 21276 26796 5520 259






Total 754 738 (16) (21)

thereof








Argo - -44 (44) x








Financial Result





Interest result -278 -520 (242) (871)






thereof















thereof


Other hedging -332 455 787 x - -332 - 455 787 x



Rental income 36 36 0 02 - 36 - 36 0 02













thereof


Other hedging -332 455 787 x - -332 - 455 787 x



Rental income 36 36 0 02 - 36 - 36 0 02














thereof









thereof



















thereof




















thereof





















euro million 2019 2020 2019 2020

Sales revenue 66015 1000 67398 1000 21 66015 1000 67398 1000 21

Cost of sales -53254 -807 -51780 -768 28 296 -53550 -811 117 -51897 -770 31

Gross profit 12761 193 15617 232 224 12465 189 15500 230 243














euro million 2019 2020 2019 2020

Sales revenue 66015 1000 67398 1000 21 66015 1000 67398 1000 21

Cost of sales1 -53254 -807 -51780 -768 28 296 -53550 sup2 -811 117 -51897 -770 31

Gross profit 12761 193 15617 232 224 12465 189 15500 230 243
















Sales revenue 66015 67398 1383 21



Special items -1080 -245 835 773
















Sales revenue 66015 67398 1383 21
















Inhaltsverzeichnis

01 Deckblatt



05 GuV


10 Vertriebskosten






21 Cash-Flow Pkw


24 F amp E Kosten




29 Finanzergebnis

Bilanz_GuV_Akt

Bilanz_GuV_Vgl

Bilanz 3112

Cashflow KK GJ

Cashflow KK Vgl

Umsatz Dritte GJ

Umsatz Dritte Vgl

Umsatz Dritte GJ VQ

Absatz MG GJ

Absatz MG Vgl

Absatz Marken GJ

Vorstandscharts


5 Lauf



Third Parties


2019 2020 2019 2020 2019 2020 2019 2020 2019 2020


Audi 300 335 14348 16710 7906 9243 1271 2456 1271 2456

Skoda 257 253 4995 5043 2402 1912 485 288 485 288

SEAT 151 165 2667 3155 1427 1696 197 -49 197 -49

Bentley 4 4 786 652 539 366 0 72 0 72


VW Com Vehicles 111 95 2717 2684 1062 1196 13 -92 13 -92









Sspecial items - -


thereof





FS Division 10573 10592 9516 9596 986 1223 986 1223










thereof


Other hedging -332 455 787 x - -332 - 455 787 x



Rental income 36 36 0 02 - 36 - 36 0 02














thereof




















euro million 2019 2020 2019 2020

Sales revenue 66015 1000 67398 1000 21 66015 1000 67398 1000 21

Cost of sales -53254 -807 -51780 -768 28 - -53254 sup2 -807 - -51780 -768 28

Gross profit 12761 193 15617 232 224 12761 193 15617 232 224
















Sales revenue 66015 67398 1383 21


















Position 3000 3010 3021 3022 3023 3280 3030 3035 3027 3200 3210 3205 3270 3272 3340 3320 3325 3361 3415 3160 3330

Gesamtergebnis 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

IB9999 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

299999 -436507758823 -45129364845 12419261221 0 -10635442015 -23072997805 6417339959 8336140485 -482769505002 -360905616744 -387995784154 -44554859665 -4262837325 -46376905702 -87849327348 -23503890829 -20557638019 1047811877419

299999

199999 412196456951 25711908174 249140985 0 2108693579 163456413199 -12479000498 20830977763 35974639744 -8632063388 4230395449 12643673581 -2952633834 53740778213 496534942 -3416238 35792730168 222228211731

199999

111999 87918650522 78301517505 5510315369 17788913326 1225415175 -15421894 1606556112 16401943839 1113758199 3479417537 2365659338 -3159342918 41242233823 31052376 3286699911 21037791299 -384613825

111999

111199 -1842676415 -1776296573 1016133625 31487 -66379842 1243852 -379751 -815181799 -721314419 -721339265 -24846 2960969865 -250225 -1069590363 3546580332 -381290201

111199

111110 169114321 198850219 -379751 7884 -29735898 1243852 -379751 353385203 345603839 345578993 -24846 84685269 -250225 19435617 -7304839 -381290201

111115 2762671932 2762671932 -106292829 -106292829 -106292829 2876284596 -7319835

111116

111120 -3754885315 -3739578019 0 -15307296 -672833

111130 -2001136713 -2001136713 3140816 -1062274173 -960625429 -960625429 -12632737 3570028328

111140 98155936 1002896008 1016513376 -21336648 -8823322

111150 0 0 0 0

111299 2500260528 2553495186 3118700291 -53234658 189210194 -8662238 -42909474 -42909474 -103015459 -103015459

111299

111210 2500260528 2553495186 3118700291 -53234658 189210194 -8662238 -42909474 -42909474 -103015459 -103015459

111399 48886092075 40494374233 156102462 6323884952 156102462 3637994005 -452273529 194128791 2393561439 -3136915382 34379404531 1447334863 5084923382

111399

111310 41893304229 33501586387 -1055297774 7911411795 -1055297774 -152661596 -1822880246 -237194767 1585685479 -7046789765 33208597616 9754838893 9960708261

111320 6992787846 6992787846 1211400236 -1587526843 1211400236 5164609965 1370606717 2178482677 80787596 3909874383 1170806915 -830750403 -4875784879

111330

111499 38374974334 37029944659 -185543167 11461879674 1345029675 -16665746 -143298951 13665754013 2287346147 2302378366 15032219 -22427536 4004874886 413789444 2908955411 12406287585 -3323624

111499

111410 21976128676 21617032746 -143298951 86544508 35909593 -16665746 -143298951 604430169 123805685 141480437 17674752 -22427536 351761694 273698912 4291896545 12249239943 -3323624

111420 1375409231 131265743 0 1244143488 0 263486 263486 263486 57408346 940409

111430 1507544118 15333650923 11375335166 -258209743 13058688984 2160905602 2158263069 -2642533 3653113192 140090532 -144034948 63006742

111440

111441

111470 0

111480 -52004753 -52004753 -42244216 0 0

112999 99667678855 99975771182 9864719694 2326593494 -4990869802 -27303196 9685358214 46004214018 16372446085 2517728787 8792195388 -205630844 6213220273 -45526088 31398203179 -5987408857 -116999887

112999

112110 39604787894 34845333036 3530626918 471096937 -1015211826 -176545 3351265438 1019122233 -592793325 718337646 7776169785 23018723 49525828 -126680899 21233470103 594492516 951410319

112120 15708324054 16637058091 2021158712 -54600738 -276824605 -10646249 2021158712 10816091619 9009350431 10047470521 103150351 -7698206 4889557075 -144008696 2482954697 -1390886179 -113691109

112299 46283638097 46263933895 -110662673 12680891261 19664019 -110662673 31207643387 -1173697413 12155569045 13329266458 131404449 -78983844 20825056 9341400239 358570436 1183145839

112299

112210 4634605751 46326393491 -118416496 12683657884 19664019 -118416496 31261237153 -112305042 12206268986 13329319406 131404449 1346452 20825056 9348195791 369418697 1183156019

112220 -62419413 -62459596 7753823 -2766623 7753823 -53593766 -50646993 -50699941 -52948 -92448364 -6795552 -10848261 -1018

112399 81912262326 82182178053 2234477667 15646492393 170104233 -14891497 2234477667 42724472379 9139608189 12241398072 3101789883 -35235581 2073950496 203533493 12993568591 16401052427 -375567877

112399

112310 13871433627 13464837716 1481389494 3569979339 150640456 -7882703 1481389494 6192981955 1053164444 2347170929 1294006485 16856116 1399430634 212595661 1847078642 1308455688 -78523114

112320 67139559892 67139559892 461164782 11821389749 461164782 3526297616 6778630028 8818557468 203992744 -361851837 846626434 9657784362 14901390587

112330 901577031 1578088669 291923391 255123305 19463777 -7008794 291923391 1268514264 1307813717 1075669675 -232144042 -7360089 -17203205 -8987646 1488705587 191206152 -297044763

112340 -308224 -308224 -74522 -74522

112410 -83841333516 -79952731893 218911907 -26417286359 -3888601623 218911907 -48935215697 -10021797 -16450526228 -16446534248 -720829282 804958 -14653190451 -21950638057 -1762297059

113999 47880745306 2857656824 388218702 45594491585 69014778 388218702 98595252 6883178 6883178 36034241 -26148

113999

113110 -371588304 119664462 3664126 4649211212 3664126 98595252 9111638 9111638

113111 -25476475 -25476475 0 0 -26148

113112 37520988 -15549 -15549 33670378 -15549

113113

113114 43983612862 -876414377 -928951016 38730714774 -928951016 36034241

113115 -003 1564117746 58361342

113120 0 0

113210 607924054 607924054

113410 3878040459 3869187038 1313521141 8853421 10653436 1313521141 -222846 -222846

114999 1951449077 -121052867 895956638 -77325459 -77325459 -77325459 -1776001534

114999

114110 3574911794 -104820895 4707340063 -77325459 -77325459 -77325459 -63717943

114120 -3861154401 0 -3861154401 0

114130 2237691684 -1105707775 49770976 -1138822104

115999 54815719765 74663291267 4304547195 0 -14092792061 -4632902 4304547195 411415979 8495799144 8495799144 0 -19605 7017805243 38143 -5484767646 2185645494 20248767469

115999

115199 66995265715 74906400125 362852014 0 -7083216659 362852014 -4229036607 175166667 175166667 -5832954269 684915683 45042787943

115199

115110 -3626714094 4284420316 413415317 -7083216659 413415317 0 -1184618 -19518323 0

115115 0 0 0 0 0 0

115125 0 0 0 0 0

115120 70621979809 70621979809 -50563303 0 -50563303 -4229036607 175166667 175166667 -5714492469 704434006 45042787943

115299 -1217954595 -243108858 3941695181 -7009575402 -4632902 3941695181 8343196397 8320632477 8320632477 0 -19605 7017805243 38143 348186623 1500729811 157444886747

115299

115210 0 2938462478 2579393343 638363074 0 2579393343 835456786 835456786 835456786 0 0 -2500000 0 359069135 0 170827978057

115220 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

115230 -10278762719 -3068950276 -7209812443 -4632902 -6909027 -35223933 -35223933 -19605 72677671 -100437836 1501954811 -11360285357

115240 -977344742 -189498904 575571 -787845838 575571 -4462436 128855 128855 38143 38143 -22497197 -122954753

115250 -1522564464 -1526969621 6474036 4405157 6474036 0 0 0 149981343 -12250 -16822000

115260 787025672 1791747162 1355252231 345314648 0 1355252231 149970875 -2176512

115270

115280 0 0 0 0

115290 -187899697 -187899697 -187899697

149999 129494684268 -35452593 129138895257 -11239407108 -27782082 -27782082 -27782082 1090216354 -76074243

149999

144999 28036207613 28036207613 -10613952582

144999

141999 24062736093 24062736093 -10890518052

141999

141110 24062736091 24062736091 -10890518052

141115 002 002

141150

141180

142999 3979161649 3979161649 27656547

142999

Financial Result




thereof


Interest result -278 -520 (242) (871)




Q4 2019 2020 2019 2020


North America 219 239 93 10474 10965 47

South America 162 149 (78) 2865 2753 (39)

AsiaPacific 1367 1255 (82) 12664 13908 98

Total 2973 2846 (43) 66075 67287 18





Third Parties


2019 2020 2019 2020 2019 2020 2019 2020 2019 2020


Audi 300 335 14348 16710 7906 9243 1271 2518 1271 2456

Skoda 257 253 4995 5043 2402 1912 485 288 485 288

SEAT 151 165 2667 3155 1427 1696 197 -49 197 -49

Bentley 4 4 786 652 539 366 0 72 0 72


VW Com Vehicles 111 95 2717 2684 1062 1196 13 -92 13 -92











thereof





FS Division 10573 10592 9516 9596 986 1223 986 1223









costs 3609 3693 (84) (23)














Total 3039 914 (2125) (699)







Change in financial



03022021 AT




Gross cash flow 5908 10216 4308 729




thereof








Net liquidity 12-31-201912-31-2020 19878 26847 6969 351






Gross cash flow 6774 10635 3861 570




thereof








Net liquidity 12-31-201912-31-2020 21276 26796 5520 259






Total 754 738 (16) (21)

thereof








Argo - -44 (44) x








Financial Result





Interest result -278 -520 (242) (871)






thereof















thereof


Other hedging -332 455 787 x - -332 - 455 787 x



Rental income 36 36 0 02 - 36 - 36 0 02













thereof


Other hedging -332 455 787 x - -332 - 455 787 x



Rental income 36 36 0 02 - 36 - 36 0 02














thereof









thereof



















thereof




















thereof





















euro million 2019 2020 2019 2020

Sales revenue 66015 1000 67398 1000 21 66015 1000 67398 1000 21

Cost of sales -53254 -807 -51780 -768 28 296 -53550 -811 117 -51897 -770 31

Gross profit 12761 193 15617 232 224 12465 189 15500 230 243














euro million 2019 2020 2019 2020

Sales revenue 66015 1000 67398 1000 21 66015 1000 67398 1000 21

Cost of sales1 -53254 -807 -51780 -768 28 296 -53550 sup2 -811 117 -51897 -770 31

Gross profit 12761 193 15617 232 224 12465 189 15500 230 243
















Sales revenue 66015 67398 1383 21



















Sales revenue 66015 67398 1383 21
















Inhaltsverzeichnis

01 Deckblatt



05 GuV


10 Vertriebskosten






21 Cash-Flow Pkw


24 F amp E Kosten




29 Finanzergebnis

Bilanz_GuV_Akt

Bilanz_GuV_Vgl

Bilanz 3112

Cashflow KK GJ

Cashflow KK Vgl

Umsatz Dritte GJ

Umsatz Dritte Vgl

Umsatz Dritte GJ VQ

Absatz MG GJ

Absatz MG Vgl

Absatz Marken GJ

Vorstandscharts


5 Lauf


2

Q3 Q4 absolute

Production 000 vehicles 2445 2793 + 348 + 142- excl Chinese joint ventures 1422 1716 + 293 + 206

Sales 2575 2846 + 272 + 105- excl Chinese joint ventures 1534 1731 + 196 + 128

Deliveries to customers 2612 2801 + 189 + 72- excl market China 1542 1612 + 69 + 45

Inventories 1779 1773 - 6 - 03- excl market China 1116 1165 + 48 + 43


1) At Sept 30 2020 1)

2020 Change y-o-y

1)

1)

1)

1)


3

2019 2020 absolute

Production 000 vehicles 2849 2793 - 56 - 20- thereof Chinese joint ventures 1205 1077 - 128 - 106

Sales 2973 2846 - 127 - 43- thereof Chinese joint ventures 1233 1115 - 118 - 96

Deliveries to customers 2970 2801 - 170 - 57- thereof market China 1279 1189 - 90 - 70




Q4 Change y-o-y

2)

2)

1)

1)

12)

12)


4

2019 2020 absolute

Production 000 vehicles 2553 2445 - 108 - 42- thereof Chinese joint ventures 979 1023 + 44 + 45

Sales 2645 2575 - 70 - 26- thereof Chinese joint ventures 1026 1040 + 14 + 14

Deliveries to customers 2640 2612 - 28 - 11- thereof market China 1039 1069 + 31 + 30



1) Updated to reflect subsequent statistical trends 1)2) At Sept 30 2019 2) 12)

Q3 Change y-o-y

2)

2)

1)

1)

12)

12)


5

Q4 Q4


Sales revenue 66015 67398 1383 21










b(w) prior year

01 Deckblatt

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05 GuV SE

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05 GuV SE2

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10 Vertriebskosten






VS 13

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VS 20

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21 Cash-Flow Pkw

VS 21

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24 F amp E Kosten

VS 24

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29 Finanzergebnis

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Bilanz_GuV_Akt


VS 03

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05 GuV

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VS 25

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6

Q4 Q4


Sales revenue 66015 67398 1383 21



Special items -1080 -245 835 773








b(w) prior year

01 Deckblatt

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05 GuV SE

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05 GuV SE2

VS 05

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10 Vertriebskosten






VS 13

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VS 13



VS 20

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21 Cash-Flow Pkw

VS 21

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24 F amp E Kosten

VS 24

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29 Finanzergebnis

VS 29

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Bilanz_GuV_Akt


VS 03

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05 GuV

VS 05

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VS 25

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7

Q4 Q4 b(w) py


Sales revenue 66015 1000 67398 1000 21

Cost of sales -53254 -807 -51780 -768 28

Gross profit 12761 193 15617 232 224









01 Deckblatt

VS 01

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05 GuV SE

VS 05

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05 GuV SE2

VS 05

VS 05

VS 05

VS 05




10 Vertriebskosten






VS 13

VS 13

VS 13

VS 13

VS 13



VS 20

VS 20

VS 20

VS 20

21 Cash-Flow Pkw

VS 21

VS 21

VS 21

VS 21


VS 22

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24 F amp E Kosten

VS 24

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VS 24

VS 24

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VS 26

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VS 26

29 Finanzergebnis

VS 29

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VS 29

Bilanz_GuV_Akt


VS 03

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05 GuV

VS 05

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8

Q3 Q4 b(w) pq


Sales revenue 59355 1000 67398 1000 135

Cost of sales -48928 -824 -51780 -768 (58)

Gross profit 10427 176 15617 232 498

Distribution expenses -4508 -76 -5547 -82 (231)








01 Deckblatt

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05 GuV SE

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Q4 euro-245 million

05 GuV SE2

VS 05

VS 05

VS 05


Q4 euro-117 million


10 Vertriebskosten



Q4 euro-362 million



VS 13

VS 13

VS 13

VS 13



VS 20

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VS 20

21 Cash-Flow Pkw

VS 21

VS 21

VS 21


VS 22

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24 F amp E Kosten

VS 24

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29 Finanzergebnis

VS 29

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Bilanz_GuV_Akt


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9

Q1 Q2 b(w) py


Sales revenue 55054 1000 41076 1000 (254)

Cost of sales -45824 -832 -37404 -911 184

Gross profit 9231 168 3672 89 (602)




Operating profit 904 16 -2394 -58 x


Interest resultOther fin result -351 -06 -675 -16 (923)

Financial result -222 -04 360 09 x

Profit before tax 682 12 -2034 -50 x

01 Deckblatt

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05 GuV SE

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Q2 euro-687 million

05 GuV SE2

VS 05

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VS 05


Q2 euro46 million




10 Vertriebskosten



Q2 euro-641 million



VS 13

VS 13

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VS 13



VS 20

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21 Cash-Flow Pkw

VS 20

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24 F amp E Kosten

VS 24

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VS 25

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VS 26

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29 Finanzergebnis

VS 29

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VS 29

VS 29

VS 29

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VS 29

Bilanz_GuV_Akt

05 GuV

VS 05

VS 05

VS 05

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VS 05

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VS 05



VS 03

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VS 25

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10

b(w) py


Sales revenue 252632 1000 222884 1000 (118)

Cost of sales -203490 -805 -183937 -825 96

Gross profit 49142 195 38947 175 (207)



Other operating incomeexpenses -1437 -06 -1466 -07 (20)

Operating profit 16960 67 9675 43 (430)


Interest resultOther fin result -1953 -08 -765 -03 608

Financial result 1396 06 1991 09 426

Profit before tax 18356 73 11667 52 (364)

January - December

01 Deckblatt

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05 GuV SE

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05 GuV SE2

VS 05

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VS 05

VS 05

06 GuV per

VS 06

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07 GuV KB

VS 07

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08 GuV KB 1

VS 08

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VS 09

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10 Vertriebskosten

VS 10

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15 Bilanz VW

VS 15

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16 Aktiva KB

VS 16

VS 16

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17 Passiva KB

VS 17

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18 Aktiva KB 1

VS 18

VS 18

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19 Passiva KB 1

VS 19

VS 19

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21 Cash-Flow Pkw

VS 21

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VS 22

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23 Vorraumlte

VS 23

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VS 23

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24 F amp E Kosten

VS 24

VS 24

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25 Umsatzerloumlse SE

VS 25

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VS 25


VS 26

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VS 26

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VS 28

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VS 28

29 Finanzergebnis

VS 29

VS 29

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VS 29

VS 29


VS 03

VS 03

VS 03

VS 03

VS 03

05 GuV

VS 05

VS 05

VS 05

VS 05

VS 05



VS 09

VS 09

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25 Umsatzerloumlse

VS 25

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VS 12

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image1wmf

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11

acute000 vehicleseuro million Q4 Q4 Q4 Q4 Q4 Q4 Q4 Q42019 2020 2019 2020 2019 2020 2019 2020

VW Passenger Cars 924 939 22960 23892 10133 10874 -496 1218Audi 300 335 14348 16710 7906 9243 1271 2456Skoda 257 253 4995 5043 2402 1912 485 288SEAT 151 165 2667 3155 1427 1696 197 -49Bentley 4 4 786 652 539 366 0 72Porsche Vehicles 72 84 7395 8604 6321 7219 1010 2137VW Com Vehicles 111 95 2717 2684 1062 1196 13 -92Scania Vehicles and Services 25 25 3507 3428 3392 3301 297 329MAN Commercial Vehicles 38 38 3488 3377 3304 3154 105 -171Power Engineering - - 1124 891 1123 890 68 -335VW Chinasup1 1233 1115Other -142 -207 -7983 -11079 19339 18412 -455 sup2 958 sup2VW Financial Service 10011 10043 9066 9134 925 1171Volkswagen Group 2973 2846 66015 67398 66015 67398 3421 7982thereofAutomotive Division 2973 2846 55442 56806 56499 57802 2435 6759of which Passenger Cars 2910 2783 47365 49179 48677 50455 2084 7039

Commercial Vehicles 63 63 6953 6736 6698 6456 345 101 Power Engineering - - 1124 891 1123 890 5 -381

FS Division 10573 10592 9516 9596 986 1223

sup1 The sales revenue and operating profit of the joint venture companies in China are not included in the figures for the Group The Chinese companies are accounted for using the equity method and recorded an operating profit (proportionate) of euro 970 (1238) millionsup2 Mainly intragroup items recognized in profit or loss in particular from the elimination of intercompany profits and including depreciation and amortization of identifiable assets as part of the purchase price allocation for Scania Porsche Holding Salzburg MAN and Porsche

Vehicle Sales Sales Revenue Sales to Operating ResultThird Parties

01 Deckblatt

VS 01

VS 01

VS 01

VS 01

VS 01


VS 02

VS 02

VS 02

VS 02

VS 02


VS 03

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VS 03

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VS 03

VS 03

05 GuV SE

VS 05

VS 05

VS 05

VS 05


05 GuV SE2

VS 05

VS 05

VS 05

VS 05




10 Vertriebskosten






VS 13

VS 13

VS 13

VS 13

VS 13



VS 20

VS 20

VS 20

VS 20

21 Cash-Flow Pkw

VS 21

VS 21

VS 21

VS 21


VS 22

VS 22

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VS 22

24 F amp E Kosten

VS 24

VS 24

VS 24

VS 24

VS 24


VS 25

VS 25

VS 25

VS 25


VS 26

VS 26

VS 26

VS 26

VS 26

29 Finanzergebnis

VS 29

VS 29

VS 29

VS 29

VS 29

Bilanz_GuV_Akt


VS 03

VS 03

VS 03

VS 03

VS 03

05 GuV

VS 05

VS 05

VS 05

VS 05

VS 05







VS 25

VS 25

VS 25

VS 25

VS 25

image1wmf

image2emf

image3png


12

acute000 vehicleseuro million

Q4 2019 2020 2019 2020


North America 219 239 93 10474 10965 47

South America 162 149 (78) 2865 2753 (39)

AsiaPacific 1367 1255 (82) 12664 13908 98

Total 2973 2846 (43) 66075 67287 18



Vehicle Sales Sales Revenue

01 Deckblatt

VS 01

VS 01

VS 01

VS 01

VS 01


VS 02

VS 02

VS 02

VS 02

VS 02


VS 03

VS 03

VS 03

VS 03


VS 03

VS 03

VS 03

VS 03

05 GuV SE

VS 05

VS 05

VS 05

VS 05


05 GuV SE2

VS 05

VS 05

VS 05

VS 05




10 Vertriebskosten






VS 13

VS 13

VS 13

VS 13

VS 13



VS 20

VS 20

VS 20

VS 20

21 Cash-Flow Pkw

VS 21

VS 21

VS 21

VS 21


VS 22

VS 22

VS 22

VS 22

VS 22

24 F amp E Kosten

VS 24

VS 24

VS 24

VS 24

VS 24


VS 25

VS 25

VS 25

VS 25


VS 26

VS 26

VS 26

VS 26

VS 26

29 Finanzergebnis

VS 29

VS 29

VS 29

VS 29

VS 29

Bilanz_GuV_Akt


VS 03

VS 03

VS 03

VS 03

VS 03

05 GuV

VS 05

VS 05

VS 05

VS 05

VS 05







VS 25

VS 25

VS 25

VS 25

VS 25

image1wmf

image2emf

image3png


13

Q4 Q4



Cash flows from investing activities -7590 -6610 979 129 thereof

Invest in property plant and equipment -5821 -4643 1178 202 ndash as of sales revenue 105 82 23 Add to capitalized development costs -1504 -1991 (488) (324)Acquisition and disposal of equity invest -121 -92 29 239




Net liquidity 12-31-201912-31-2020 21276 26796 5520 259 sup1 Including allocation of consolidation adjustments between the Automotive and Financial Services divisions

b(w) prior year

01 Deckblatt

VS 01

VS 01

VS 01

VS 01

VS 01


VS 02

VS 02

VS 02

VS 02

VS 02


VS 03

VS 03

VS 03

VS 03


VS 03

VS 03

VS 03

VS 03

05 GuV SE

VS 05

VS 05

VS 05

VS 05


05 GuV SE2

VS 05

VS 05

VS 05

VS 05




10 Vertriebskosten






VS 13

VS 13

VS 13

VS 13

VS 13



VS 20

VS 20

VS 20

VS 20

21 Cash-Flow Pkw

VS 21

VS 21

VS 21

VS 21


VS 22

VS 22

VS 22

VS 22

VS 22

24 F amp E Kosten

VS 24

VS 24

VS 24

VS 24

VS 24


VS 25

VS 25

VS 25

VS 25


VS 26

VS 26

VS 26

VS 26

VS 26

29 Finanzergebnis

VS 29

VS 29

VS 29

VS 29

VS 29

Bilanz_GuV_Akt


VS 03

VS 03

VS 03

VS 03

VS 03

05 GuV

VS 05

VS 05

VS 05

VS 05

VS 05







VS 25

VS 25

VS 25

VS 25

VS 25

image1wmf

image2emf

image3png


14

Q3 Q4



Cash flows from investing activities -3938 -6610 (2672) (679)thereof

Invest in property plant and equipment -2292 -4643 (2350) xndash as of sales revenue 47 82 (34)Add to capitalized development costs -1531 -1991 (460) (300)Acquisition and disposal of equity invest -184 -92 92 500

Net cash flow 6224 4939 (1285) (206)



Net liquidity 09-30-202012-31-2020 24848 26796 1949 78 Net liquidity 12-31-201912-31-2020 21276 26796 5520 259 sup1 Including allocation of consolidation adjustments between the Automotive and Financial Services divisions

b(w) prior quarter

01 Deckblatt

VS 01

VS 01

VS 01

VS 01


VS 02

VS 02

VS 02

VS 02


VS 03

VS 03

VS 03


VS 03

VS 03

VS 03

05 GuV SE

VS 05

VS 05

VS 05

Q4 euro-245 million

05 GuV SE2

VS 05

VS 05

VS 05


Q4 euro-117 million


10 Vertriebskosten



Q4 euro-362 million



VS 13

VS 13

VS 13

VS 13



VS 20

VS 20

VS 20

21 Cash-Flow Pkw

VS 21

VS 21

VS 21


VS 22

VS 22

VS 22

VS 22

24 F amp E Kosten

VS 24

VS 24

VS 24

VS 24


VS 25

VS 25

VS 25


VS 26

VS 26

VS 26

VS 26

29 Finanzergebnis

VS 29

VS 29

VS 29

VS 29

Bilanz_GuV_Akt


VS 03

VS 03

VS 03

VS 03

05 GuV

VS 05

VS 05

VS 05

VS 05







VS 25

VS 25

VS 25

VS 25

image1wmf

image2emf

image3png

















Third Parties


2020 2020 2020 2020 2020 2020 2020 2020 2020 2020


Audi 266 335 12788 16710 7382 9243 864 2456 864 2456

Skoda 224 253 4493 5043 1826 1912 240 288 240 288

SEAT 122 165 2294 3155 1371 1696 -20 -49 -20 -49

Bentley 3 4 537 652 322 366 47 72 47 72


VW Com Vehicles 93 95 2436 2684 1151 1196 -27 -92 -27 -92











thereof





FS Division 11070 10592 10158 9596 541 1223 541 1223










thereof


Other hedging 178 455 277 x - 178 - 455 277 x



Rental income 36 36 0 10 - 36 - 36 0 10














thereof


Warranty costs 1248 13 1652 16 (404) (324) - 1248 - 1652 (404) (324)












Other -326 (03) -1027 (10) 701 x - -326 - -1027 701 x






euro million 2020 2020 2020 2020

Sales revenue 59355 1000 67398 1000 135 59355 1000 67398 1000 135

Cost of sales -48928 -824 -51780 -768 (58) - -48928 sup2 -824 - -51780 -768 (58)

Gross profit 10427 176 15617 232 498 10427 176 15617 232 498
















Sales revenue 59355 67398 8042 135


















Position 3000 3010 3021 3022 3023 3280 3030 3035 3027 3200 3210 3205 3270 3272 3340 3320 3325 3361 3415 3160 3330

Gesamtergebnis 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

IB9999 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

299999 -436507758823 -45129364845 12419261221 0 -10635442015 -23072997805 6417339959 8336140485 -482769505002 -360905616744 -387995784154 -44554859665 -4262837325 -46376905702 -87849327348 -23503890829 -20557638019 1047811877419

299999

199999 412196456951 25711908174 249140985 0 2108693579 163456413199 -12479000498 20830977763 35974639744 -8632063388 4230395449 12643673581 -2952633834 53740778213 496534942 -3416238 35792730168 222228211731

199999

111999 87918650522 78301517505 5510315369 17788913326 1225415175 -15421894 1606556112 16401943839 1113758199 3479417537 2365659338 -3159342918 41242233823 31052376 3286699911 21037791299 -384613825

111999

111199 -1842676415 -1776296573 1016133625 31487 -66379842 1243852 -379751 -815181799 -721314419 -721339265 -24846 2960969865 -250225 -1069590363 3546580332 -381290201

111199

111110 169114321 198850219 -379751 7884 -29735898 1243852 -379751 353385203 345603839 345578993 -24846 84685269 -250225 19435617 -7304839 -381290201

111115 2762671932 2762671932 -106292829 -106292829 -106292829 2876284596 -7319835

111116

111120 -3754885315 -3739578019 0 -15307296 -672833

111130 -2001136713 -2001136713 3140816 -1062274173 -960625429 -960625429 -12632737 3570028328

111140 98155936 1002896008 1016513376 -21336648 -8823322

111150 0 0 0 0

111299 2500260528 2553495186 3118700291 -53234658 189210194 -8662238 -42909474 -42909474 -103015459 -103015459

111299

111210 2500260528 2553495186 3118700291 -53234658 189210194 -8662238 -42909474 -42909474 -103015459 -103015459

111399 48886092075 40494374233 156102462 6323884952 156102462 3637994005 -452273529 194128791 2393561439 -3136915382 34379404531 1447334863 5084923382

111399

111310 41893304229 33501586387 -1055297774 7911411795 -1055297774 -152661596 -1822880246 -237194767 1585685479 -7046789765 33208597616 9754838893 9960708261

111320 6992787846 6992787846 1211400236 -1587526843 1211400236 5164609965 1370606717 2178482677 80787596 3909874383 1170806915 -830750403 -4875784879

111330

111499 38374974334 37029944659 -185543167 11461879674 1345029675 -16665746 -143298951 13665754013 2287346147 2302378366 15032219 -22427536 4004874886 413789444 2908955411 12406287585 -3323624

111499

111410 21976128676 21617032746 -143298951 86544508 35909593 -16665746 -143298951 604430169 123805685 141480437 17674752 -22427536 351761694 273698912 4291896545 12249239943 -3323624

111420 1375409231 131265743 0 1244143488 0 263486 263486 263486 57408346 940409

111430 1507544118 15333650923 11375335166 -258209743 13058688984 2160905602 2158263069 -2642533 3653113192 140090532 -144034948 63006742

111440

111441

111470 0

111480 -52004753 -52004753 -42244216 0 0

112999 99667678855 99975771182 9864719694 2326593494 -4990869802 -27303196 9685358214 46004214018 16372446085 2517728787 8792195388 -205630844 6213220273 -45526088 31398203179 -5987408857 -116999887

112999

112110 39604787894 34845333036 3530626918 471096937 -1015211826 -176545 3351265438 1019122233 -592793325 718337646 7776169785 23018723 49525828 -126680899 21233470103 594492516 951410319

112120 15708324054 16637058091 2021158712 -54600738 -276824605 -10646249 2021158712 10816091619 9009350431 10047470521 103150351 -7698206 4889557075 -144008696 2482954697 -1390886179 -113691109

112299 46283638097 46263933895 -110662673 12680891261 19664019 -110662673 31207643387 -1173697413 12155569045 13329266458 131404449 -78983844 20825056 9341400239 358570436 1183145839

112299

112210 4634605751 46326393491 -118416496 12683657884 19664019 -118416496 31261237153 -112305042 12206268986 13329319406 131404449 1346452 20825056 9348195791 369418697 1183156019

112220 -62419413 -62459596 7753823 -2766623 7753823 -53593766 -50646993 -50699941 -52948 -92448364 -6795552 -10848261 -1018

112399 81912262326 82182178053 2234477667 15646492393 170104233 -14891497 2234477667 42724472379 9139608189 12241398072 3101789883 -35235581 2073950496 203533493 12993568591 16401052427 -375567877

112399

112310 13871433627 13464837716 1481389494 3569979339 150640456 -7882703 1481389494 6192981955 1053164444 2347170929 1294006485 16856116 1399430634 212595661 1847078642 1308455688 -78523114

112320 67139559892 67139559892 461164782 11821389749 461164782 3526297616 6778630028 8818557468 203992744 -361851837 846626434 9657784362 14901390587

112330 901577031 1578088669 291923391 255123305 19463777 -7008794 291923391 1268514264 1307813717 1075669675 -232144042 -7360089 -17203205 -8987646 1488705587 191206152 -297044763

112340 -308224 -308224 -74522 -74522

112410 -83841333516 -79952731893 218911907 -26417286359 -3888601623 218911907 -48935215697 -10021797 -16450526228 -16446534248 -720829282 804958 -14653190451 -21950638057 -1762297059

113999 47880745306 2857656824 388218702 45594491585 69014778 388218702 98595252 6883178 6883178 36034241 -26148

113999

113110 -371588304 119664462 3664126 4649211212 3664126 98595252 9111638 9111638

113111 -25476475 -25476475 0 0 -26148

113112 37520988 -15549 -15549 33670378 -15549

113113

113114 43983612862 -876414377 -928951016 38730714774 -928951016 36034241

113115 -003 1564117746 58361342

113120 0 0

113210 607924054 607924054

113410 3878040459 3869187038 1313521141 8853421 10653436 1313521141 -222846 -222846

114999 1951449077 -121052867 895956638 -77325459 -77325459 -77325459 -1776001534

114999

114110 3574911794 -104820895 4707340063 -77325459 -77325459 -77325459 -63717943

114120 -3861154401 0 -3861154401 0

114130 2237691684 -1105707775 49770976 -1138822104

115999 54815719765 74663291267 4304547195 0 -14092792061 -4632902 4304547195 411415979 8495799144 8495799144 0 -19605 7017805243 38143 -5484767646 2185645494 20248767469

115999

115199 66995265715 74906400125 362852014 0 -7083216659 362852014 -4229036607 175166667 175166667 -5832954269 684915683 45042787943

115199

115110 -3626714094 4284420316 413415317 -7083216659 413415317 0 -1184618 -19518323 0

115115 0 0 0 0 0 0

115125 0 0 0 0 0

115120 70621979809 70621979809 -50563303 0 -50563303 -4229036607 175166667 175166667 -5714492469 704434006 45042787943

115299 -1217954595 -243108858 3941695181 -7009575402 -4632902 3941695181 8343196397 8320632477 8320632477 0 -19605 7017805243 38143 348186623 1500729811 157444886747

115299

115210 0 2938462478 2579393343 638363074 0 2579393343 835456786 835456786 835456786 0 0 -2500000 0 359069135 0 170827978057

115220 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

115230 -10278762719 -3068950276 -7209812443 -4632902 -6909027 -35223933 -35223933 -19605 72677671 -100437836 1501954811 -11360285357

115240 -977344742 -189498904 575571 -787845838 575571 -4462436 128855 128855 38143 38143 -22497197 -122954753

115250 -1522564464 -1526969621 6474036 4405157 6474036 0 0 0 149981343 -12250 -16822000

115260 787025672 1791747162 1355252231 345314648 0 1355252231 149970875 -2176512

115270

115280 0 0 0 0

115290 -187899697 -187899697 -187899697

149999 129494684268 -35452593 129138895257 -11239407108 -27782082 -27782082 -27782082 1090216354 -76074243

149999

144999 28036207613 28036207613 -10613952582

144999

141999 24062736093 24062736093 -10890518052

141999

141110 24062736091 24062736091 -10890518052

141115 002 002

141150

141180

142999 3979161649 3979161649 27656547

142999

Financial Result




thereof


Interest result -407 -520 (113) (278)




Q4 2020 2020 2020 2020


North America 205 239 166 9915 10965 106

South America 139 149 71 2175 2753 266

AsiaPacific 1148 1255 93 11113 13908 251

Total 2575 2846 105 59390 67287 133





Third Parties


2020 2020 2020 2020 2020 2020 2020 2020 2020 2020


Audi 266 335 12788 16710 7382 9243 864 2518 864 2456

Skoda 224 253 4493 5043 1826 1912 240 288 240 288

SEAT 122 165 2294 3155 1371 1696 -20 -49 -20 -49

Bentley 3 4 537 652 322 366 47 72 47 72


VW Com Vehicles 93 95 2436 2684 1151 1196 -27 -92 -27 -92











thereof





FS Division 11070 10592 10158 9596 541 1223 541 1223









costs 3496 3693 (197) (56)














Total 3981 914 (3066) (770)







Change in financial







Gross cash flow 5454 10216 4762 873




thereof





Net cash flow 5968 3929 (2040) (342)



Net liquidity 09-30-202012-31-2020 25608 26847 1239 48

Net liquidity 12-31-201912-31-2020 19878 26847 6969 351






Gross cash flow 6182 10635 4453 720




thereof





Net cash flow 6224 4939 (1285) (206)



Net liquidity 09-30-202012-31-2020 24848 26796 1949 78

Net liquidity 12-31-201912-31-2020 21276 26796 5520 259






Total 855 738 (117) (137)

thereof








Argo -34 -44 (10) (281)

Navistar -10 -34 (24) x

Northvoltsup3 -15 -21 (6) (408)






Financial Result





Interest result -407 -520 (113) (278)






thereof















thereof


Other hedging 178 455 277 x - 178 - 455 277 x



Rental income 36 36 0 10 - 36 - 36 0 10













thereof


Other hedging 178 455 277 x - 178 - 455 277 x



Rental income 36 36 0 10 - 36 - 36 0 10














thereof









thereof


Sales Expenses 1229 1861 (632) (514)

















thereof




















thereof





















euro million 2020 2020 2020 2020

Sales revenue 59355 1000 67398 1000 135 59355 1000 67398 1000 135

Cost of sales -48928 -824 -51780 -768 (58) - -48928 -824 117 -51897 -770 (61)

Gross profit 10427 176 15617 232 498 10427 176 15500 230 487














euro million 2020 2020 2020 2020

Sales revenue 59355 1000 67398 1000 135 59355 1000 67398 1000 135

Cost of sales1 -48928 -824 -51780 -768 (58) - -48928 sup2 -824 117 -51897 -770 (61)

Gross profit 10427 176 15617 232 498 10427 176 15500 230 487
















Sales revenue 59355 67398 8042 135



















Sales revenue 59355 67398 8042 135
















Inhaltsverzeichnis

01 Deckblatt



05 GuV


10 Vertriebskosten






21 Cash-Flow Pkw


24 F amp E Kosten




29 Finanzergebnis

Bilanz_GuV_Akt

Bilanz_GuV_Vgl

Bilanz 3112

Cashflow KK GJ

Cashflow KK Vgl

Umsatz Dritte GJ

Umsatz Dritte Vgl

Umsatz Dritte GJ VQ

Absatz MG GJ

Absatz MG Vgl

Absatz Marken GJ

Vorstandscharts


5 Lauf



Third Parties


2019 2020 2019 2020 2019 2020 2019 2020 2019 2020


Audi 300 335 14348 16710 7906 9243 1271 2456 1271 2456

Skoda 257 253 4995 5043 2402 1912 485 288 485 288

SEAT 151 165 2667 3155 1427 1696 197 -49 197 -49

Bentley 4 4 786 652 539 366 0 72 0 72


VW Com Vehicles 111 95 2717 2684 1062 1196 13 -92 13 -92









Sspecial items - -


thereof





FS Division 10573 10592 9516 9596 986 1223 986 1223










thereof


Other hedging -332 455 787 x - -332 - 455 787 x



Rental income 36 36 0 02 - 36 - 36 0 02














thereof




















euro million 2019 2020 2019 2020

Sales revenue 66015 1000 67398 1000 21 66015 1000 67398 1000 21

Cost of sales -53254 -807 -51780 -768 28 - -53254 sup2 -807 - -51780 -768 28

Gross profit 12761 193 15617 232 224 12761 193 15617 232 224
















Sales revenue 66015 67398 1383 21


















Position 3000 3010 3021 3022 3023 3280 3030 3035 3027 3200 3210 3205 3270 3272 3340 3320 3325 3361 3415 3160 3330

Gesamtergebnis 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

IB9999 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

299999 -436507758823 -45129364845 12419261221 0 -10635442015 -23072997805 6417339959 8336140485 -482769505002 -360905616744 -387995784154 -44554859665 -4262837325 -46376905702 -87849327348 -23503890829 -20557638019 1047811877419

299999

199999 412196456951 25711908174 249140985 0 2108693579 163456413199 -12479000498 20830977763 35974639744 -8632063388 4230395449 12643673581 -2952633834 53740778213 496534942 -3416238 35792730168 222228211731

199999

111999 87918650522 78301517505 5510315369 17788913326 1225415175 -15421894 1606556112 16401943839 1113758199 3479417537 2365659338 -3159342918 41242233823 31052376 3286699911 21037791299 -384613825

111999

111199 -1842676415 -1776296573 1016133625 31487 -66379842 1243852 -379751 -815181799 -721314419 -721339265 -24846 2960969865 -250225 -1069590363 3546580332 -381290201

111199

111110 169114321 198850219 -379751 7884 -29735898 1243852 -379751 353385203 345603839 345578993 -24846 84685269 -250225 19435617 -7304839 -381290201

111115 2762671932 2762671932 -106292829 -106292829 -106292829 2876284596 -7319835

111116

111120 -3754885315 -3739578019 0 -15307296 -672833

111130 -2001136713 -2001136713 3140816 -1062274173 -960625429 -960625429 -12632737 3570028328

111140 98155936 1002896008 1016513376 -21336648 -8823322

111150 0 0 0 0

111299 2500260528 2553495186 3118700291 -53234658 189210194 -8662238 -42909474 -42909474 -103015459 -103015459

111299

111210 2500260528 2553495186 3118700291 -53234658 189210194 -8662238 -42909474 -42909474 -103015459 -103015459

111399 48886092075 40494374233 156102462 6323884952 156102462 3637994005 -452273529 194128791 2393561439 -3136915382 34379404531 1447334863 5084923382

111399

111310 41893304229 33501586387 -1055297774 7911411795 -1055297774 -152661596 -1822880246 -237194767 1585685479 -7046789765 33208597616 9754838893 9960708261

111320 6992787846 6992787846 1211400236 -1587526843 1211400236 5164609965 1370606717 2178482677 80787596 3909874383 1170806915 -830750403 -4875784879

111330

111499 38374974334 37029944659 -185543167 11461879674 1345029675 -16665746 -143298951 13665754013 2287346147 2302378366 15032219 -22427536 4004874886 413789444 2908955411 12406287585 -3323624

111499

111410 21976128676 21617032746 -143298951 86544508 35909593 -16665746 -143298951 604430169 123805685 141480437 17674752 -22427536 351761694 273698912 4291896545 12249239943 -3323624

111420 1375409231 131265743 0 1244143488 0 263486 263486 263486 57408346 940409

111430 1507544118 15333650923 11375335166 -258209743 13058688984 2160905602 2158263069 -2642533 3653113192 140090532 -144034948 63006742

111440

111441

111470 0

111480 -52004753 -52004753 -42244216 0 0

112999 99667678855 99975771182 9864719694 2326593494 -4990869802 -27303196 9685358214 46004214018 16372446085 2517728787 8792195388 -205630844 6213220273 -45526088 31398203179 -5987408857 -116999887

112999

112110 39604787894 34845333036 3530626918 471096937 -1015211826 -176545 3351265438 1019122233 -592793325 718337646 7776169785 23018723 49525828 -126680899 21233470103 594492516 951410319

112120 15708324054 16637058091 2021158712 -54600738 -276824605 -10646249 2021158712 10816091619 9009350431 10047470521 103150351 -7698206 4889557075 -144008696 2482954697 -1390886179 -113691109

112299 46283638097 46263933895 -110662673 12680891261 19664019 -110662673 31207643387 -1173697413 12155569045 13329266458 131404449 -78983844 20825056 9341400239 358570436 1183145839

112299

112210 4634605751 46326393491 -118416496 12683657884 19664019 -118416496 31261237153 -112305042 12206268986 13329319406 131404449 1346452 20825056 9348195791 369418697 1183156019

112220 -62419413 -62459596 7753823 -2766623 7753823 -53593766 -50646993 -50699941 -52948 -92448364 -6795552 -10848261 -1018

112399 81912262326 82182178053 2234477667 15646492393 170104233 -14891497 2234477667 42724472379 9139608189 12241398072 3101789883 -35235581 2073950496 203533493 12993568591 16401052427 -375567877

112399

112310 13871433627 13464837716 1481389494 3569979339 150640456 -7882703 1481389494 6192981955 1053164444 2347170929 1294006485 16856116 1399430634 212595661 1847078642 1308455688 -78523114

112320 67139559892 67139559892 461164782 11821389749 461164782 3526297616 6778630028 8818557468 203992744 -361851837 846626434 9657784362 14901390587

112330 901577031 1578088669 291923391 255123305 19463777 -7008794 291923391 1268514264 1307813717 1075669675 -232144042 -7360089 -17203205 -8987646 1488705587 191206152 -297044763

112340 -308224 -308224 -74522 -74522

112410 -83841333516 -79952731893 218911907 -26417286359 -3888601623 218911907 -48935215697 -10021797 -16450526228 -16446534248 -720829282 804958 -14653190451 -21950638057 -1762297059

113999 47880745306 2857656824 388218702 45594491585 69014778 388218702 98595252 6883178 6883178 36034241 -26148

113999

113110 -371588304 119664462 3664126 4649211212 3664126 98595252 9111638 9111638

113111 -25476475 -25476475 0 0 -26148

113112 37520988 -15549 -15549 33670378 -15549

113113

113114 43983612862 -876414377 -928951016 38730714774 -928951016 36034241

113115 -003 1564117746 58361342

113120 0 0

113210 607924054 607924054

113410 3878040459 3869187038 1313521141 8853421 10653436 1313521141 -222846 -222846

114999 1951449077 -121052867 895956638 -77325459 -77325459 -77325459 -1776001534

114999

114110 3574911794 -104820895 4707340063 -77325459 -77325459 -77325459 -63717943

114120 -3861154401 0 -3861154401 0

114130 2237691684 -1105707775 49770976 -1138822104

115999 54815719765 74663291267 4304547195 0 -14092792061 -4632902 4304547195 411415979 8495799144 8495799144 0 -19605 7017805243 38143 -5484767646 2185645494 20248767469

115999

115199 66995265715 74906400125 362852014 0 -7083216659 362852014 -4229036607 175166667 175166667 -5832954269 684915683 45042787943

115199

115110 -3626714094 4284420316 413415317 -7083216659 413415317 0 -1184618 -19518323 0

115115 0 0 0 0 0 0

115125 0 0 0 0 0

115120 70621979809 70621979809 -50563303 0 -50563303 -4229036607 175166667 175166667 -5714492469 704434006 45042787943

115299 -1217954595 -243108858 3941695181 -7009575402 -4632902 3941695181 8343196397 8320632477 8320632477 0 -19605 7017805243 38143 348186623 1500729811 157444886747

115299

115210 0 2938462478 2579393343 638363074 0 2579393343 835456786 835456786 835456786 0 0 -2500000 0 359069135 0 170827978057

115220 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

115230 -10278762719 -3068950276 -7209812443 -4632902 -6909027 -35223933 -35223933 -19605 72677671 -100437836 1501954811 -11360285357

115240 -977344742 -189498904 575571 -787845838 575571 -4462436 128855 128855 38143 38143 -22497197 -122954753

115250 -1522564464 -1526969621 6474036 4405157 6474036 0 0 0 149981343 -12250 -16822000

115260 787025672 1791747162 1355252231 345314648 0 1355252231 149970875 -2176512

115270

115280 0 0 0 0

115290 -187899697 -187899697 -187899697

149999 129494684268 -35452593 129138895257 -11239407108 -27782082 -27782082 -27782082 1090216354 -76074243

149999

144999 28036207613 28036207613 -10613952582

144999

141999 24062736093 24062736093 -10890518052

141999

141110 24062736091 24062736091 -10890518052

141115 002 002

141150

141180

142999 3979161649 3979161649 27656547

142999

Financial Result




thereof


Interest result -278 -520 (242) (871)




Q4 2019 2020 2019 2020


North America 219 239 93 10474 10965 47

South America 162 149 (78) 2865 2753 (39)

AsiaPacific 1367 1255 (82) 12664 13908 98

Total 2973 2846 (43) 66075 67287 18





Third Parties


2019 2020 2019 2020 2019 2020 2019 2020 2019 2020


Audi 300 335 14348 16710 7906 9243 1271 2518 1271 2456

Skoda 257 253 4995 5043 2402 1912 485 288 485 288

SEAT 151 165 2667 3155 1427 1696 197 -49 197 -49

Bentley 4 4 786 652 539 366 0 72 0 72


VW Com Vehicles 111 95 2717 2684 1062 1196 13 -92 13 -92











thereof





FS Division 10573 10592 9516 9596 986 1223 986 1223









costs 3609 3693 (84) (23)














Total 3039 914 (2125) (699)







Change in financial



03022021 AT




Gross cash flow 5908 10216 4308 729




thereof








Net liquidity 12-31-201912-31-2020 19878 26847 6969 351






Gross cash flow 6774 10635 3861 570




thereof








Net liquidity 12-31-201912-31-2020 21276 26796 5520 259






Total 754 738 (16) (21)

thereof








Argo - -44 (44) x








Financial Result





Interest result -278 -520 (242) (871)






thereof















thereof


Other hedging -332 455 787 x - -332 - 455 787 x



Rental income 36 36 0 02 - 36 - 36 0 02













thereof


Other hedging -332 455 787 x - -332 - 455 787 x



Rental income 36 36 0 02 - 36 - 36 0 02














thereof









thereof



















thereof




















thereof





















euro million 2019 2020 2019 2020

Sales revenue 66015 1000 67398 1000 21 66015 1000 67398 1000 21

Cost of sales -53254 -807 -51780 -768 28 296 -53550 -811 117 -51897 -770 31

Gross profit 12761 193 15617 232 224 12465 189 15500 230 243














euro million 2019 2020 2019 2020

Sales revenue 66015 1000 67398 1000 21 66015 1000 67398 1000 21

Cost of sales1 -53254 -807 -51780 -768 28 296 -53550 sup2 -811 117 -51897 -770 31

Gross profit 12761 193 15617 232 224 12465 189 15500 230 243
















Sales revenue 66015 67398 1383 21



Special items -1080 -245 835 773
















Sales revenue 66015 67398 1383 21
















Inhaltsverzeichnis

01 Deckblatt



05 GuV


10 Vertriebskosten






21 Cash-Flow Pkw


24 F amp E Kosten




29 Finanzergebnis

Bilanz_GuV_Akt

Bilanz_GuV_Vgl

Bilanz 3112

Cashflow KK GJ

Cashflow KK Vgl

Umsatz Dritte GJ

Umsatz Dritte Vgl

Umsatz Dritte GJ VQ

Absatz MG GJ

Absatz MG Vgl

Absatz Marken GJ

Vorstandscharts


5 Lauf



Third Parties


2019 2020 2019 2020 2019 2020 2019 2020 2019 2020


Audi 300 335 14348 16710 7906 9243 1271 2456 1271 2456

Skoda 257 253 4995 5043 2402 1912 485 288 485 288

SEAT 151 165 2667 3155 1427 1696 197 -49 197 -49

Bentley 4 4 786 652 539 366 0 72 0 72


VW Com Vehicles 111 95 2717 2684 1062 1196 13 -92 13 -92









Sspecial items - -


thereof





FS Division 10573 10592 9516 9596 986 1223 986 1223










thereof


Other hedging -332 455 787 x - -332 - 455 787 x



Rental income 36 36 0 02 - 36 - 36 0 02














thereof




















euro million 2019 2020 2019 2020

Sales revenue 66015 1000 67398 1000 21 66015 1000 67398 1000 21

Cost of sales -53254 -807 -51780 -768 28 - -53254 sup2 -807 - -51780 -768 28

Gross profit 12761 193 15617 232 224 12761 193 15617 232 224
















Sales revenue 66015 67398 1383 21


















Position 3000 3010 3021 3022 3023 3280 3030 3035 3027 3200 3210 3205 3270 3272 3340 3320 3325 3361 3415 3160 3330

Gesamtergebnis 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

IB9999 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

299999 -436507758823 -45129364845 12419261221 0 -10635442015 -23072997805 6417339959 8336140485 -482769505002 -360905616744 -387995784154 -44554859665 -4262837325 -46376905702 -87849327348 -23503890829 -20557638019 1047811877419

299999

199999 412196456951 25711908174 249140985 0 2108693579 163456413199 -12479000498 20830977763 35974639744 -8632063388 4230395449 12643673581 -2952633834 53740778213 496534942 -3416238 35792730168 222228211731

199999

111999 87918650522 78301517505 5510315369 17788913326 1225415175 -15421894 1606556112 16401943839 1113758199 3479417537 2365659338 -3159342918 41242233823 31052376 3286699911 21037791299 -384613825

111999

111199 -1842676415 -1776296573 1016133625 31487 -66379842 1243852 -379751 -815181799 -721314419 -721339265 -24846 2960969865 -250225 -1069590363 3546580332 -381290201

111199

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111115 2762671932 2762671932 -106292829 -106292829 -106292829 2876284596 -7319835

111116

111120 -3754885315 -3739578019 0 -15307296 -672833

111130 -2001136713 -2001136713 3140816 -1062274173 -960625429 -960625429 -12632737 3570028328

111140 98155936 1002896008 1016513376 -21336648 -8823322

111150 0 0 0 0

111299 2500260528 2553495186 3118700291 -53234658 189210194 -8662238 -42909474 -42909474 -103015459 -103015459

111299

111210 2500260528 2553495186 3118700291 -53234658 189210194 -8662238 -42909474 -42909474 -103015459 -103015459

111399 48886092075 40494374233 156102462 6323884952 156102462 3637994005 -452273529 194128791 2393561439 -3136915382 34379404531 1447334863 5084923382

111399

111310 41893304229 33501586387 -1055297774 7911411795 -1055297774 -152661596 -1822880246 -237194767 1585685479 -7046789765 33208597616 9754838893 9960708261

111320 6992787846 6992787846 1211400236 -1587526843 1211400236 5164609965 1370606717 2178482677 80787596 3909874383 1170806915 -830750403 -4875784879

111330

111499 38374974334 37029944659 -185543167 11461879674 1345029675 -16665746 -143298951 13665754013 2287346147 2302378366 15032219 -22427536 4004874886 413789444 2908955411 12406287585 -3323624

111499

111410 21976128676 21617032746 -143298951 86544508 35909593 -16665746 -143298951 604430169 123805685 141480437 17674752 -22427536 351761694 273698912 4291896545 12249239943 -3323624

111420 1375409231 131265743 0 1244143488 0 263486 263486 263486 57408346 940409

111430 1507544118 15333650923 11375335166 -258209743 13058688984 2160905602 2158263069 -2642533 3653113192 140090532 -144034948 63006742

111440

111441

111470 0

111480 -52004753 -52004753 -42244216 0 0

112999 99667678855 99975771182 9864719694 2326593494 -4990869802 -27303196 9685358214 46004214018 16372446085 2517728787 8792195388 -205630844 6213220273 -45526088 31398203179 -5987408857 -116999887

112999

112110 39604787894 34845333036 3530626918 471096937 -1015211826 -176545 3351265438 1019122233 -592793325 718337646 7776169785 23018723 49525828 -126680899 21233470103 594492516 951410319

112120 15708324054 16637058091 2021158712 -54600738 -276824605 -10646249 2021158712 10816091619 9009350431 10047470521 103150351 -7698206 4889557075 -144008696 2482954697 -1390886179 -113691109

112299 46283638097 46263933895 -110662673 12680891261 19664019 -110662673 31207643387 -1173697413 12155569045 13329266458 131404449 -78983844 20825056 9341400239 358570436 1183145839

112299

112210 4634605751 46326393491 -118416496 12683657884 19664019 -118416496 31261237153 -112305042 12206268986 13329319406 131404449 1346452 20825056 9348195791 369418697 1183156019

112220 -62419413 -62459596 7753823 -2766623 7753823 -53593766 -50646993 -50699941 -52948 -92448364 -6795552 -10848261 -1018

112399 81912262326 82182178053 2234477667 15646492393 170104233 -14891497 2234477667 42724472379 9139608189 12241398072 3101789883 -35235581 2073950496 203533493 12993568591 16401052427 -375567877

112399

112310 13871433627 13464837716 1481389494 3569979339 150640456 -7882703 1481389494 6192981955 1053164444 2347170929 1294006485 16856116 1399430634 212595661 1847078642 1308455688 -78523114

112320 67139559892 67139559892 461164782 11821389749 461164782 3526297616 6778630028 8818557468 203992744 -361851837 846626434 9657784362 14901390587

112330 901577031 1578088669 291923391 255123305 19463777 -7008794 291923391 1268514264 1307813717 1075669675 -232144042 -7360089 -17203205 -8987646 1488705587 191206152 -297044763

112340 -308224 -308224 -74522 -74522

112410 -83841333516 -79952731893 218911907 -26417286359 -3888601623 218911907 -48935215697 -10021797 -16450526228 -16446534248 -720829282 804958 -14653190451 -21950638057 -1762297059

113999 47880745306 2857656824 388218702 45594491585 69014778 388218702 98595252 6883178 6883178 36034241 -26148

113999

113110 -371588304 119664462 3664126 4649211212 3664126 98595252 9111638 9111638

113111 -25476475 -25476475 0 0 -26148

113112 37520988 -15549 -15549 33670378 -15549

113113

113114 43983612862 -876414377 -928951016 38730714774 -928951016 36034241

113115 -003 1564117746 58361342

113120 0 0

113210 607924054 607924054

113410 3878040459 3869187038 1313521141 8853421 10653436 1313521141 -222846 -222846

114999 1951449077 -121052867 895956638 -77325459 -77325459 -77325459 -1776001534

114999

114110 3574911794 -104820895 4707340063 -77325459 -77325459 -77325459 -63717943

114120 -3861154401 0 -3861154401 0

114130 2237691684 -1105707775 49770976 -1138822104

115999 54815719765 74663291267 4304547195 0 -14092792061 -4632902 4304547195 411415979 8495799144 8495799144 0 -19605 7017805243 38143 -5484767646 2185645494 20248767469

115999

115199 66995265715 74906400125 362852014 0 -7083216659 362852014 -4229036607 175166667 175166667 -5832954269 684915683 45042787943

115199

115110 -3626714094 4284420316 413415317 -7083216659 413415317 0 -1184618 -19518323 0

115115 0 0 0 0 0 0

115125 0 0 0 0 0

115120 70621979809 70621979809 -50563303 0 -50563303 -4229036607 175166667 175166667 -5714492469 704434006 45042787943

115299 -1217954595 -243108858 3941695181 -7009575402 -4632902 3941695181 8343196397 8320632477 8320632477 0 -19605 7017805243 38143 348186623 1500729811 157444886747

115299

115210 0 2938462478 2579393343 638363074 0 2579393343 835456786 835456786 835456786 0 0 -2500000 0 359069135 0 170827978057

115220 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

115230 -10278762719 -3068950276 -7209812443 -4632902 -6909027 -35223933 -35223933 -19605 72677671 -100437836 1501954811 -11360285357

115240 -977344742 -189498904 575571 -787845838 575571 -4462436 128855 128855 38143 38143 -22497197 -122954753

115250 -1522564464 -1526969621 6474036 4405157 6474036 0 0 0 149981343 -12250 -16822000

115260 787025672 1791747162 1355252231 345314648 0 1355252231 149970875 -2176512

115270

115280 0 0 0 0

115290 -187899697 -187899697 -187899697

149999 129494684268 -35452593 129138895257 -11239407108 -27782082 -27782082 -27782082 1090216354 -76074243

149999

144999 28036207613 28036207613 -10613952582

144999

141999 24062736093 24062736093 -10890518052

141999

141110 24062736091 24062736091 -10890518052

141115 002 002

141150

141180

142999 3979161649 3979161649 27656547

142999

Financial Result




thereof


Interest result -278 -520 (242) (871)




Q4 2019 2020 2019 2020


North America 219 239 93 10474 10965 47

South America 162 149 (78) 2865 2753 (39)

AsiaPacific 1367 1255 (82) 12664 13908 98

Total 2973 2846 (43) 66075 67287 18





Third Parties


2019 2020 2019 2020 2019 2020 2019 2020 2019 2020


Audi 300 335 14348 16710 7906 9243 1271 2518 1271 2456

Skoda 257 253 4995 5043 2402 1912 485 288 485 288

SEAT 151 165 2667 3155 1427 1696 197 -49 197 -49

Bentley 4 4 786 652 539 366 0 72 0 72


VW Com Vehicles 111 95 2717 2684 1062 1196 13 -92 13 -92











thereof





FS Division 10573 10592 9516 9596 986 1223 986 1223









costs 3609 3693 (84) (23)














Total 3039 914 (2125) (699)







Change in financial



03022021 AT




Gross cash flow 5908 10216 4308 729




thereof








Net liquidity 12-31-201912-31-2020 19878 26847 6969 351






Gross cash flow 6774 10635 3861 570




thereof








Net liquidity 12-31-201912-31-2020 21276 26796 5520 259






Total 754 738 (16) (21)

thereof








Argo - -44 (44) x








Financial Result





Interest result -278 -520 (242) (871)






thereof















thereof


Other hedging -332 455 787 x - -332 - 455 787 x



Rental income 36 36 0 02 - 36 - 36 0 02













thereof


Other hedging -332 455 787 x - -332 - 455 787 x



Rental income 36 36 0 02 - 36 - 36 0 02














thereof









thereof



















thereof




















thereof





















euro million 2019 2020 2019 2020

Sales revenue 66015 1000 67398 1000 21 66015 1000 67398 1000 21

Cost of sales -53254 -807 -51780 -768 28 296 -53550 -811 117 -51897 -770 31

Gross profit 12761 193 15617 232 224 12465 189 15500 230 243














euro million 2019 2020 2019 2020

Sales revenue 66015 1000 67398 1000 21 66015 1000 67398 1000 21

Cost of sales1 -53254 -807 -51780 -768 28 296 -53550 sup2 -811 117 -51897 -770 31

Gross profit 12761 193 15617 232 224 12465 189 15500 230 243
















Sales revenue 66015 67398 1383 21



Special items -1080 -245 835 773
















Sales revenue 66015 67398 1383 21
















Inhaltsverzeichnis

01 Deckblatt



05 GuV


10 Vertriebskosten






21 Cash-Flow Pkw


24 F amp E Kosten




29 Finanzergebnis

Bilanz_GuV_Akt

Bilanz_GuV_Vgl

Bilanz 3112

Cashflow KK GJ

Cashflow KK Vgl

Umsatz Dritte GJ

Umsatz Dritte Vgl

Umsatz Dritte GJ VQ

Absatz MG GJ

Absatz MG Vgl

Absatz Marken GJ

Vorstandscharts


5 Lauf



Third Parties


2019 2020 2019 2020 2019 2020 2019 2020 2019 2020


Audi 300 335 14348 16710 7906 9243 1271 2456 1271 2456

Skoda 257 253 4995 5043 2402 1912 485 288 485 288

SEAT 151 165 2667 3155 1427 1696 197 -49 197 -49

Bentley 4 4 786 652 539 366 0 72 0 72


VW Com Vehicles 111 95 2717 2684 1062 1196 13 -92 13 -92









Sspecial items - -


thereof





FS Division 10573 10592 9516 9596 986 1223 986 1223










thereof


Other hedging -332 455 787 x - -332 - 455 787 x



Rental income 36 36 0 02 - 36 - 36 0 02














thereof




















euro million 2019 2020 2019 2020

Sales revenue 66015 1000 67398 1000 21 66015 1000 67398 1000 21

Cost of sales -53254 -807 -51780 -768 28 - -53254 sup2 -807 - -51780 -768 28

Gross profit 12761 193 15617 232 224 12761 193 15617 232 224
















Sales revenue 66015 67398 1383 21


















Position 3000 3010 3021 3022 3023 3280 3030 3035 3027 3200 3210 3205 3270 3272 3340 3320 3325 3361 3415 3160 3330

Gesamtergebnis 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

IB9999 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

299999 -436507758823 -45129364845 12419261221 0 -10635442015 -23072997805 6417339959 8336140485 -482769505002 -360905616744 -387995784154 -44554859665 -4262837325 -46376905702 -87849327348 -23503890829 -20557638019 1047811877419

299999

199999 412196456951 25711908174 249140985 0 2108693579 163456413199 -12479000498 20830977763 35974639744 -8632063388 4230395449 12643673581 -2952633834 53740778213 496534942 -3416238 35792730168 222228211731

199999

111999 87918650522 78301517505 5510315369 17788913326 1225415175 -15421894 1606556112 16401943839 1113758199 3479417537 2365659338 -3159342918 41242233823 31052376 3286699911 21037791299 -384613825

111999

111199 -1842676415 -1776296573 1016133625 31487 -66379842 1243852 -379751 -815181799 -721314419 -721339265 -24846 2960969865 -250225 -1069590363 3546580332 -381290201

111199

111110 169114321 198850219 -379751 7884 -29735898 1243852 -379751 353385203 345603839 345578993 -24846 84685269 -250225 19435617 -7304839 -381290201

111115 2762671932 2762671932 -106292829 -106292829 -106292829 2876284596 -7319835

111116

111120 -3754885315 -3739578019 0 -15307296 -672833

111130 -2001136713 -2001136713 3140816 -1062274173 -960625429 -960625429 -12632737 3570028328

111140 98155936 1002896008 1016513376 -21336648 -8823322

111150 0 0 0 0

111299 2500260528 2553495186 3118700291 -53234658 189210194 -8662238 -42909474 -42909474 -103015459 -103015459

111299

111210 2500260528 2553495186 3118700291 -53234658 189210194 -8662238 -42909474 -42909474 -103015459 -103015459

111399 48886092075 40494374233 156102462 6323884952 156102462 3637994005 -452273529 194128791 2393561439 -3136915382 34379404531 1447334863 5084923382

111399

111310 41893304229 33501586387 -1055297774 7911411795 -1055297774 -152661596 -1822880246 -237194767 1585685479 -7046789765 33208597616 9754838893 9960708261

111320 6992787846 6992787846 1211400236 -1587526843 1211400236 5164609965 1370606717 2178482677 80787596 3909874383 1170806915 -830750403 -4875784879

111330

111499 38374974334 37029944659 -185543167 11461879674 1345029675 -16665746 -143298951 13665754013 2287346147 2302378366 15032219 -22427536 4004874886 413789444 2908955411 12406287585 -3323624

111499

111410 21976128676 21617032746 -143298951 86544508 35909593 -16665746 -143298951 604430169 123805685 141480437 17674752 -22427536 351761694 273698912 4291896545 12249239943 -3323624

111420 1375409231 131265743 0 1244143488 0 263486 263486 263486 57408346 940409

111430 1507544118 15333650923 11375335166 -258209743 13058688984 2160905602 2158263069 -2642533 3653113192 140090532 -144034948 63006742

111440

111441

111470 0

111480 -52004753 -52004753 -42244216 0 0

112999 99667678855 99975771182 9864719694 2326593494 -4990869802 -27303196 9685358214 46004214018 16372446085 2517728787 8792195388 -205630844 6213220273 -45526088 31398203179 -5987408857 -116999887

112999

112110 39604787894 34845333036 3530626918 471096937 -1015211826 -176545 3351265438 1019122233 -592793325 718337646 7776169785 23018723 49525828 -126680899 21233470103 594492516 951410319

112120 15708324054 16637058091 2021158712 -54600738 -276824605 -10646249 2021158712 10816091619 9009350431 10047470521 103150351 -7698206 4889557075 -144008696 2482954697 -1390886179 -113691109

112299 46283638097 46263933895 -110662673 12680891261 19664019 -110662673 31207643387 -1173697413 12155569045 13329266458 131404449 -78983844 20825056 9341400239 358570436 1183145839

112299

112210 4634605751 46326393491 -118416496 12683657884 19664019 -118416496 31261237153 -112305042 12206268986 13329319406 131404449 1346452 20825056 9348195791 369418697 1183156019

112220 -62419413 -62459596 7753823 -2766623 7753823 -53593766 -50646993 -50699941 -52948 -92448364 -6795552 -10848261 -1018

112399 81912262326 82182178053 2234477667 15646492393 170104233 -14891497 2234477667 42724472379 9139608189 12241398072 3101789883 -35235581 2073950496 203533493 12993568591 16401052427 -375567877

112399

112310 13871433627 13464837716 1481389494 3569979339 150640456 -7882703 1481389494 6192981955 1053164444 2347170929 1294006485 16856116 1399430634 212595661 1847078642 1308455688 -78523114

112320 67139559892 67139559892 461164782 11821389749 461164782 3526297616 6778630028 8818557468 203992744 -361851837 846626434 9657784362 14901390587

112330 901577031 1578088669 291923391 255123305 19463777 -7008794 291923391 1268514264 1307813717 1075669675 -232144042 -7360089 -17203205 -8987646 1488705587 191206152 -297044763

112340 -308224 -308224 -74522 -74522

112410 -83841333516 -79952731893 218911907 -26417286359 -3888601623 218911907 -48935215697 -10021797 -16450526228 -16446534248 -720829282 804958 -14653190451 -21950638057 -1762297059

113999 47880745306 2857656824 388218702 45594491585 69014778 388218702 98595252 6883178 6883178 36034241 -26148

113999

113110 -371588304 119664462 3664126 4649211212 3664126 98595252 9111638 9111638

113111 -25476475 -25476475 0 0 -26148

113112 37520988 -15549 -15549 33670378 -15549

113113

113114 43983612862 -876414377 -928951016 38730714774 -928951016 36034241

113115 -003 1564117746 58361342

113120 0 0

113210 607924054 607924054

113410 3878040459 3869187038 1313521141 8853421 10653436 1313521141 -222846 -222846

114999 1951449077 -121052867 895956638 -77325459 -77325459 -77325459 -1776001534

114999

114110 3574911794 -104820895 4707340063 -77325459 -77325459 -77325459 -63717943

114120 -3861154401 0 -3861154401 0

114130 2237691684 -1105707775 49770976 -1138822104

115999 54815719765 74663291267 4304547195 0 -14092792061 -4632902 4304547195 411415979 8495799144 8495799144 0 -19605 7017805243 38143 -5484767646 2185645494 20248767469

115999

115199 66995265715 74906400125 362852014 0 -7083216659 362852014 -4229036607 175166667 175166667 -5832954269 684915683 45042787943

115199

115110 -3626714094 4284420316 413415317 -7083216659 413415317 0 -1184618 -19518323 0

115115 0 0 0 0 0 0

115125 0 0 0 0 0

115120 70621979809 70621979809 -50563303 0 -50563303 -4229036607 175166667 175166667 -5714492469 704434006 45042787943

115299 -1217954595 -243108858 3941695181 -7009575402 -4632902 3941695181 8343196397 8320632477 8320632477 0 -19605 7017805243 38143 348186623 1500729811 157444886747

115299

115210 0 2938462478 2579393343 638363074 0 2579393343 835456786 835456786 835456786 0 0 -2500000 0 359069135 0 170827978057

115220 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

115230 -10278762719 -3068950276 -7209812443 -4632902 -6909027 -35223933 -35223933 -19605 72677671 -100437836 1501954811 -11360285357

115240 -977344742 -189498904 575571 -787845838 575571 -4462436 128855 128855 38143 38143 -22497197 -122954753

115250 -1522564464 -1526969621 6474036 4405157 6474036 0 0 0 149981343 -12250 -16822000

115260 787025672 1791747162 1355252231 345314648 0 1355252231 149970875 -2176512

115270

115280 0 0 0 0

115290 -187899697 -187899697 -187899697

149999 129494684268 -35452593 129138895257 -11239407108 -27782082 -27782082 -27782082 1090216354 -76074243

149999

144999 28036207613 28036207613 -10613952582

144999

141999 24062736093 24062736093 -10890518052

141999

141110 24062736091 24062736091 -10890518052

141115 002 002

141150

141180

142999 3979161649 3979161649 27656547

142999

Financial Result




thereof


Interest result -278 -520 (242) (871)




Q4 2019 2020 2019 2020


North America 219 239 93 10474 10965 47

South America 162 149 (78) 2865 2753 (39)

AsiaPacific 1367 1255 (82) 12664 13908 98

Total 2973 2846 (43) 66075 67287 18





Third Parties


2019 2020 2019 2020 2019 2020 2019 2020 2019 2020


Audi 300 335 14348 16710 7906 9243 1271 2518 1271 2456

Skoda 257 253 4995 5043 2402 1912 485 288 485 288

SEAT 151 165 2667 3155 1427 1696 197 -49 197 -49

Bentley 4 4 786 652 539 366 0 72 0 72


VW Com Vehicles 111 95 2717 2684 1062 1196 13 -92 13 -92











thereof





FS Division 10573 10592 9516 9596 986 1223 986 1223









costs 3609 3693 (84) (23)














Total 3039 914 (2125) (699)







Change in financial



03022021 AT




Gross cash flow 5908 10216 4308 729




thereof








Net liquidity 12-31-201912-31-2020 19878 26847 6969 351






Gross cash flow 6774 10635 3861 570




thereof








Net liquidity 12-31-201912-31-2020 21276 26796 5520 259






Total 754 738 (16) (21)

thereof








Argo - -44 (44) x








Financial Result





Interest result -278 -520 (242) (871)






thereof















thereof


Other hedging -332 455 787 x - -332 - 455 787 x



Rental income 36 36 0 02 - 36 - 36 0 02













thereof


Other hedging -332 455 787 x - -332 - 455 787 x



Rental income 36 36 0 02 - 36 - 36 0 02














thereof









thereof



















thereof




















thereof





















euro million 2019 2020 2019 2020

Sales revenue 66015 1000 67398 1000 21 66015 1000 67398 1000 21

Cost of sales -53254 -807 -51780 -768 28 296 -53550 -811 117 -51897 -770 31

Gross profit 12761 193 15617 232 224 12465 189 15500 230 243














euro million 2019 2020 2019 2020

Sales revenue 66015 1000 67398 1000 21 66015 1000 67398 1000 21

Cost of sales1 -53254 -807 -51780 -768 28 296 -53550 sup2 -811 117 -51897 -770 31

Gross profit 12761 193 15617 232 224 12465 189 15500 230 243
















Sales revenue 66015 67398 1383 21



Special items -1080 -245 835 773
















Sales revenue 66015 67398 1383 21
















Inhaltsverzeichnis

01 Deckblatt



05 GuV


10 Vertriebskosten






21 Cash-Flow Pkw


24 F amp E Kosten




29 Finanzergebnis

Bilanz_GuV_Akt

Bilanz_GuV_Vgl

Bilanz 3112

Cashflow KK GJ

Cashflow KK Vgl

Umsatz Dritte GJ

Umsatz Dritte Vgl

Umsatz Dritte GJ VQ

Absatz MG GJ

Absatz MG Vgl

Absatz Marken GJ

Vorstandscharts


5 Lauf





Total other operating incomeexpenses -1437 -1466 (29) (20) - -1437 - -1466 (29) (20)

thereof


Other hedging -155 -97 58 373 - -155 - -97 58 373



Rental income 161 145 (16) (100) - 161 - 145 (16) (100)












Third Parties


2019 2020 2019 2020 2019 2020 2019 2020 2019 2020


Audi 1200 1017 55680 49973 32402 28360 4509 2569 4509 2569

Skoda 1062 849 19806 17081 8912 7031 1660 756 1660 756

SEAT 667 484 11496 9198 6409 5189 445 -339 445 -339

Bentley 12 11 2092 2049 1515 1326 65 20 65 20


VW Com Vehicles 456 345 11473 9358 5158 4371 510 -454 510 -454









Sspecial items - - - -


thereof





FS Division 40160 40778 36446 37223 3212 3012 3212 3012










thereof


Warranty costs 6017 24 5187 23 831 138 - 6017 - 5187 831 138












Other -2005 (08) -1629 (07) (376) (188) - -2005 - -1629 (376) (188)






euro million 2019 2020 2019 2020

Sales revenue 252632 1000 222884 1000 (118) 252632 1000 222884 1000 (118)

Cost of sales -203490 -805 -183937 -825 96 - -203490 sup2 -805 - -183937 -825 96

Gross profit 49142 195 38947 175 (207) 49142 195 38947 175 (207)



Other operating incomeexpenses -1437 -06 -1466 -07 (20) - -1437 ⁴ -06 - -1466 -07 (20)







Profit after tax 14029 56 8824 40 (371)






Sales revenue 252632 222884 (29749) (118)




Operating profit 16960 9675 (7284) (430)









Profit after tax 14029 8824 (5205) (371)



Financial Result




thereof




Dividend decisions of joint venturessup1



FAW-Volkswagen 1393 1368 (25) (18)

SAIC-Volkswagen 1808 1284 (525) (290)

SAIC-Volkswagen Sales Company 153 149 (4) (24)


VW Pon Financial Services BV 12 12 - 00

IAV - - - x

PZ Auto doo - - - x

VW FAW Engine 229 279 50 219

VW-FAW Platform Company 5 - (5) x

VW Transmission (Shanghai) - - - x

Cummis-Scania XPI Manufacturing LLC - - - x

Oppland Tungbilservice AS 0 0 (0) (48)

Tynset Diesel AS Tynset 0 0 0 61

Total 3715 3155 (560) (151)

thereof received 3714 3155 (559) (150)

thereof outstanding 2 - (2) x

sup1 The changes of the equity investment carrying amounts are represented due to the dividend decisions

gepruumlft

CZ 08022021

Share of the result of equity-accounted investments ndash China



Total 3349 2756 (592) (177)

thereof


less Elimination of unrealized profit for inventories 11 10 (1) (60)


SAIC-Volkswagen Group (Group Level) 1571 975 (597) (380)

FAW-Volkswagen (Separate Financial Statement) 1364 1525 161 118

less Elimination of unrealized profit for inventories 38 -20 (58) x


FAW-Volkswagen (Group Level) 1242 1434 192 155


thereof

Volkswagen FAW Engine Co Ltd 291 295 4 14


Volkswagen (Anhui) Automotive (former JAC VW Automotive) - 71 71 x


sup2 Volkswagen FAW Engine Co Ltd Shanghai VW Powertrain VW-FAW Platform Company Ltd Volkswagen (Anhui) Automotive Co Ldt


gepruumlft

CZ 08022021



January - December 2019 2020 2019 2020


North America 956 744 (221) 43351 36810 (151)

South America 607 471 (224) 11297 8632 (236)

AsiaPacific 4538 4012 (116) 43974 44288 07

Total 10956 9157 (164) 252622 223229 (116)

Hedges sales revenue - - x 11 -345 x




Third Parties


2019 2020 2019 2020 2019 2020 2019 2020 2019 2020

VW Passenger Cars 3677 2835 88407 71076 42062 32046 3785 454 1934 -331

Audi 1200 1017 55680 49973 32402 28360 4509 2739 4509 2569

Skoda 1062 849 19806 17081 8912 7031 1660 756 1660 756

SEAT 667 484 11496 9198 6409 5189 445 -339 445 -339

Bentley 12 11 2092 2049 1515 1326 65 20 65 20


VW Com Vehicles 456 345 11473 9358 5158 4371 510 -454 510 -454









Special items -2336 -931 - -


thereof





FS Division 40160 40778 36446 37223 3212 3012 3212 3012









costs 14306 13885 421 29











Inventories

12-31- 12-31- b(w) prior year


Total 46742 43823 2919 62

Raw materials and supplies 6099 6966 (867) (142)

WorkService in progress 4110 4022 88 21

Finished goods and products 30617 27204 3413 111

Rental and leasing business 5699 5337 362 64

Payments on account for inventories 222 288 (66) (295)

Hedges on inventories -6 6 (12) x




Total 1636 1079 (558) (341)




Change in other provisions 1400 -214 (1614) x


(excluding depreciation) -110 52 161 x

Change in financial







Gross cash flow 25474 21823 (3651) (143)




thereof





Net cash flow 8273 5392 (2881) (348)


Capital contributions FS divisions CV PE -971 -87 884 911


IPO TRATON 1387 - (1387) x

Net liquidity 12-31-201912-31-2020 19878 26847 6969 351






Gross cash flow 29097 23642 (5455) (187)




thereof




Acquisition and disposal of equity invest -716 -1188 (472) (659)

Net cash flow 10835 6357 (4478) (413)


Capital contributions FS divisions -970 -33 938 966

Acquisitions of shares of minorities -1109 -235 874 788

IPO TRATON 1387 - (1387) x

Net liquidity 12-31-201912-31-2020 21276 26796 5520 259





12-31- 12-31- 12-31- 12-31- 12-31- 12-31-

euro million 2019 2020 2019 2020 2019 2020

Equity 75773 81423 14115 13389 2885 1922



Equity attributable to hybrid capital owner of VW AG 12663 15713 - - - -








Current fin liabilities -10522 -5495 2460 2502 749 186

Trade payables 16495 16156 2453 2753 655 630



Held for Sale 26 - - - 344 -





12-31- 12-31- 12-31- 12-31- 12-31- 12-31-

euro million 2019 2020 2019 2020 2019 2020




Leasing and rental assets -5025 -4968 7106 6480 3 -



Other 11550 13721 1973 2059 82 65

Current assets 75459 83180 13420 11256 4202 2800

Inventories 35509 33313 4948 4329 1441 1413



Marketable securities 10368 15398 3178 2105 - -


Held for Sale 16 - - - 779 -

Total assets 201846 213417 38563 36033 6408 4647




12-31- 12-31- 12-31- 12-31- 12-31- 12-31-

euro million 2019 2020 2019 2020 2019 2020

Equity 123651 128783 92774 96733 30877 32050



Equity attributable to hybrid capital owner of VW AG 12663 15713 12663 15713 - -








Current fin liabilities 87912 88648 -7312 -2806 95224 91454

Trade payables 22745 22677 19603 19539 3142 3137



Held for Sale 370 - 370 - - -





12-31- 12-31- 12-31- 12-31- 12-31- 12-31-

euro million 2019 2020 2019 2020 2019 2020




Leasing and rental assets 48938 50686 2084 1512 46853 49174


FS receivables 86973 82565 -390 -377 87363 82942

Other 24162 26987 13605 15844 10558 11143

Current assets 187463 194944 93081 97236 94382 97708

Inventories 46742 43823 41898 39055 4844 4768

FS receivables 58615 58006 -640 -557 59255 58562


Marketable securities 16769 21162 13546 17503 3223 3658


Held for Sale 795 - 795 - - -

Total assets 488071 497114 246816 254097 241255 243017


Volkswagen Group Balance Sheet

Assets 12-31- 12-31- 12-31- 12-31- Equity and Liabilities 12-31- 12-31- 12-31- 12-31-

euro million 2019 2020 Specialitems 2020 euro million 2019 2020 Specialitems 2020

Noncurrent assets 300608 302170 302170 Equity 123651 128783 128783

Intangible assets 66214 67968 - 67968 Attributable to shareh 121781 127049 - 127049

Property plant amp equip 66152 63884 - 63884 Noncontrolling interests 1870 1734 - 1734

Leasing and rental assets 48938 50686 - 50686 Noncurrent liabilities 196497 202921 202921

Equity accounted invest 8169 10080 - 10080 Noncurrent fin liabilities 113556 114809 - 114809

FS receivables 86973 82565 - 82565 Other nonc liabilities 19769 20344 - 20344

Other 24162 26987 - 26987 Provisions for pensions 41389 45081 - 45081

Current assets 187463 194944 194944 Other nonc provisions 21783 22688 - 22688

Inventories 46742 43823 - 43823 Current liabilities 167924 165410 165410

FS receivables 58615 58006 - 58006 Current fin liabilities 87912 88648 - 88648

Receivables and otherfinancial assets 38620 - - Trade payables 22745 22677 - 22677

38044 - 38044 Other current liabilities 32462 31122 - 31122

Marketable securities 16769 21162 - 21162 Other current provisions 24434 22964 - 22964

Cash cash equivalents 25923 33909 - 33909 Held for Sale 370 - - 589999

Held for Sale 795 - 795 -

Total assets 488071 497114 497114 Total equity and liabilities 488071 497114 497114




Total 3349 2756 (592) (177)

thereof








Argo - -96 (96) x


NorthVoltsup3 -7 -45 (37) x






gepruumlft

CZ 08022021

Financial Result







Interest expenses -2524 -2291 233 92




thereof




Net income from securities and fundssup1 27 -230 (257) x











thereof


Other hedging -155 -97 58 373 - -155 - -97 58 373


Reversal of provisions 969 1086 117 121 29 941 86 1000 59 63

Rental income 161 145 (16) (100) - 161 - 145 (16) (100)




Other incomeexpenses -3800 -1628 2172 572 -2661 -1139 -1088 -539 600 527



thereof gain of contribution AID to Argo 2 946 944 x - - - 833 833 x








thereof


Other hedging -155 -97 58 373 - -155 - -97 58 373


Reversal of provisions1 969 1086 117 121 29 941 86 1000 59 63

Rental income 161 145 (16) (100) - 161 - 145 (16) (100)




Other incomeexpenses2 -3800 -1628 2172 572 -2661 -1139 -1088 -539 600 527










thereof



Other administrative expenses -708 -501 (207) (293)






thereof


Sales Expenses 7064 5244 1820 258

















thereof


Warranty costs 6017 24 5187 23 831 138 8 6010 72 5114 895 149












Other -2005 (08) -1629 (07) (376) (188) -303 -1702 -143 -1486 (216) (127)








thereof


Warranty costs1 6017 24 5187 23 831 138 8 6010 72 5114 895 149












Other2 -2005 (08) -1629 (07) (376) (188) -303 -1702 -143 -1486 (216) (127)







Sales revenue 182031 156311 -25720 -141 26444 22156 -4289 -162 3997 3640 -357 -89

Cost of sales -145606 -128278 17328 119 -21516 -19023 2492 116 -3355 -3206 149 44

Gross profit 36425 28033 -8392 -230 4929 3132 -1796 -364 642 434 -208 -324


Administrative expenses -6347 -6081 266 42 -975 -878 97 100 -201 -189 12 59


Other oper expense -9532 -9224 308 32 -572 -860 -288 -503 -80 -320 -240 x

Other oper incomeexpense -1124 -122 1001 891 87 -184 -272 x 23 -215 -238 x

Operating profit 12188 7224 -4964 -407 1653 -79 -1732 x -93 -482 -389 x

Share profloss equ-acc in 3053 2615 -438 -143 225 85 -140 -622 -1 -3 -3 x

Interest resultOther fin result -1819 -297 1522 837 -70 -170 -100 x 1 -2 -3 x

Financial result 1233 2317 1084 879 155 -85 -240 x 0 -5 -6 x

Profit before tax 13421 9541 -3880 -289 1808 -163 -1971 x -92 -487 -394 x

Income tax expense -3175 -2331 844 266 -335 -44 290 868 19 147 128 x

Profit after tax 10246 7211 -3036 -296 1473 -208 -1681 x -73 -340 -267 x


Non controlling interests 3845 2331 -1514 -394 -335 44 379 x -19 -147 -128 x

Volkswagen AG hybrid capital investors 3845 2331 -1514 -394 -335 44 379 x -19 -147 -128 x

Volkswagen AG shareholders 2557 2549 -8 -03 - -296 -2439 NV -35 -46 -12 -336






Sales revenue 252632 222884 -29749 -118 212473 182106 -30366 -143 40160 40778 618 15

Cost of sales -203490 -183937 19554 96 -170477 -150507 19969 117 -33014 -33430 -416 -13

Gross profit 49142 38947 -10195 -207 41996 31599 -10397 -248 7146 7348 202 28


Administrative expenses -9767 -9399 368 38 -7522 -7147 375 50 -2245 -2252 -7 -03


Other oper expense -12890 -13904 -1014 -79 -10184 -10404 -219 -22 -2706 -3500 -795 -294

Other oper incomeexpense -1437 -1466 -29 -20 -1014 -522 492 485 -423 -944 -521 x

Operating profit 16960 9675 -7284 -430 13748 6664 -7084 -515 3212 3012 -200 -62

Share profloss equ-acc in 3349 2756 -592 -177 3278 2697 -581 -177 71 60 -11 -161

Interest resultOther fin result -1953 -765 1188 608 -1889 -469 1419 751 -64 -296 -231 x

Financial result 1396 1991 595 426 1389 2227 838 604 7 -236 -243 x

Profit before tax 18356 11667 -6689 -364 15137 8891 -6246 -413 3219 2776 -443 -138

Income tax expense -4326 -2843 1484 343 -3491 -2228 1262 362 -836 -615 221 265

Profit after tax 14029 8824 -5205 -371 11646 6663 -4983 -428 2383 2161 -222 -93


Non controlling interests 143 -43 -186 x 79 -98 -177 x 64 55 -9 -137

Volkswagen AG hybrid capital investors 540 533 -7 -13 540 533 -7 -13 - - - x

Volkswagen AG shareholders 13346 8334 -5012 -376 11027 6227 -4799 -435 2319 2106 -213 -92



December b(w) py


Sales revenue 21517 1000 22769 1000 58

Cost of sales -17112 -795 -17126 -752 (01)

Gross profit 4405 205 5643 248 281



Other operating incomeexpense -1684 -78 -267 -12 842

Operating profit -522 -24 2945 129 x




Profit before tax -442 -21 3191 140 x

Income tax expense 148 07 -876 -38 x

Profit after tax -295 -14 2315 102 x





euro million 2019 2020 2019 2020

Sales revenue 252632 1000 222884 1000 (118) 252632 1000 222884 1000 (118)

Cost of sales -203490 -805 -183937 -825 96 296 -203786 -807 71 -184008 -826 97

Gross profit 49142 195 38947 175 (207) 48846 193 38876 174 (204)



Other operating incomeexpenses -1437 -06 -1466 -07 (20) -2632 1195 05 -1002 -464 -02 x







Profit after tax 14029 56 8824 40 (371)




euro million 2019 2020 2019 2020

Sales revenue 252632 1000 222884 1000 (118) 252632 1000 222884 1000 (118)

Cost of sales1 -203490 -805 -183937 -825 96 296 -203786 sup2 -807 71 -184008 -826 97

Gross profit 49142 195 38947 175 (207) 48846 193 38876 174 (204)



Other operating incomeexpenses2 -1437 -06 -1466 -07 (20) -2632 1195 ⁴ 05 -1002 -464 -02 x







Profit after tax 14029 56 8824 40 (371)




December b(w) prior year


Sales revenue 21517 22769 1252 58

Operating profit -522 2945 3467 x



Profit before tax -442 3191 3633 x


Income tax expense 148 -876 (1024) x

Tax rate in 334 275 59 sup1

Profit after tax -295 2315 2610 x





Sales revenue 252632 222884 (29749) (118)













Profit after tax 14029 8824 (5205) (371)






Sales revenue 252632 222884 (29749) (118)













Profit after tax 14029 8824 (5205) (371)



Inhaltsverzeichnis

01 Deckblatt




05 GuV

06 GuV per

07 GuV KB

08 GuV KB 1


10 Vertriebskosten





15 Bilanz VW

16 Aktiva KB

17 Passiva KB

18 Aktiva KB 1

19 Passiva KB 1


21 Cash-Flow Pkw


23 Vorraumlte

24 F amp E Kosten

25 Umsatzerloumlse




29 Finanzergebnis

Vorstandscharts

31122020 zu 31122019

5 Lauf



Third Parties


2020 2020 2020 2020 2020 2020 2020 2020 2020 2020


Audi 268 148 12454 8022 6783 4952 15 -765 15 -765

Skoda 237 135 4850 2696 2194 1098 307 -78 307 -78

SEAT 140 57 2558 1191 1383 739 -48 -223 -48 -223

Bentley 3 1 620 239 450 188 56 -155 56 -155


VW Com Vehicles 99 58 2671 1567 1255 769 14 -348 14 -348











thereof





FS Division 10404 8711 9477 7992 707 541 707 541










thereof


Other hedging -944 214 1159 x - -944 - 214 1159 x



Rental income 36 37 1 28 - 36 - 37 1 28












Sales revenue 55054 41076 (13978) (254)




Operating profit 904 -2394 (3298) x















euro million 2020 2020 2020 2020

Sales revenue 55054 1000 41076 1000 (254) 55054 1000 41076 1000 (254)

Cost of sales -45824 -832 -37404 -911 184 - -45824 sup2 -832 - -37404 -911 184

Gross profit 9231 168 3672 89 (602) 9231 168 3672 89 (602)









Income tax expense -165 -03 498 12 x

Profit after tax 517 09 -1536 -37 x





Position 3000 3010 3021 3022 3023 3280 3030 3035 3027 3200 3210 3205 3270 3272 3340 3320 3325 3361 3415 3160 3330

Gesamtergebnis 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

IB9999 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

299999 630310319147 1137645273837 67555836627 -107000 -149695905635 -1317028634 -169354787 67929341711 305830145554 39098984099 418411375303 37457574394 -3293202439 170712142526 127673633378 118522415547 280975514385 982687889488

299999

199999 324087152278 455224822023 -5334312628 -107000 3779630578 -10760516217 -1833595916 -4960807541 172291332425 16213988767 161801880286 -509784408 -3148900703 11667438348 -3987510977 29420773238 21666874289 410065930052

199999

111999 1475137087 15003577605 656033428 2187146838 -252206735 15698698 992410066 -2116843067 -7321808155 -6920504304 401303851 -808650848 16043572862 -68451337 6447001885 281250503 -887406886

111999

111199 -5067081478 -5113772732 -84010745 -161095545 46691254 -15991 -5410812 -3295113616 -3107627222 -3107653349 -26127 1319179299 -310457 -480162688 -748966158 -884909478

111199

111110 -969985488 -1032901495 -5410812 -587195 62916007 -15991 -5410812 -7756529 -4514337 -4540464 -26127 -1483957 -310457 -42706155 -8356313 -884909478

111115 52079644 52079644 -1268583612 -1268583612 -1268583612 1320663256

111116

111120 -1733447306 -1720122132 0 -13325174 -672833 -187615526

111130 -231243477 -231243477 -16050835 -2018773475 -1834529273 -1834529273 -4367837 -535994319

111140 -103293558 -100393979 -78599933 -2899579 -170000

111150 0 0 0 0

111299 -169032744 -161798331 -236699917 -7234413 -21107477 55076909 -5831255 -5831255 -13999458 -13999458

111299

111210 -169032744 -161798331 -236699917 -7234413 -21107477 55076909 -5831255 -5831255 -13999458 -13999458

111399 18768548476 18768548476 1088045092 2358286669 1088045092 1260126096 -4221192357 -3797999673 423192684 -796600966 15069135454 5828545743 -34317087

111399

111310 -3437511958 -3437511958 1672145474 3972555822 1672145474 -22898938883 -14585118373 -13605060242 980058131 -29878810577 15069135454 10352330195 -662800492

111320 53143668056 53143668056 -584100382 -1614269153 -584100382 24159064979 10363926016 9807060569 -556865447 29082209611 -4523784452 6593687833

111330

111499 1218936616 1510600192 -111301002 -10044286 -291663576 15714689 -69116737 -136932456 7011424 -9020027 -16031451 -12049882 -330742433 -54141422 109861883 1064533748 -2497408

111499

111410 -166069923 88478428 -69116737 -10044286 -254548351 15714689 -69116737 -9661012 425324 -15606127 -16031451 -12049882 -327820911 -57087335 -429675648 1049416274 -2497408

111420 -5341699 -35874363 0 -17542627 0 -73085

111430 1489646772 150921937 -19572598 -40322336 65861 65861 -2921522 2945913 1535602978 15117474

111440

111441

111470 0 0

111480 -51223243 -51223243 -42184265 0 0

112999 -24277768122 -27593207889 -223143314 2046426337 752766495 -24915558 -186014865 -3749003902 -5051367301 -6221511413 -1243945342 -1554717214 -2370489833 -1623048994 -944542892 -16476284983 2007411396

112999

112110 -2568088191 -2478420433 -1542265629 450773074 77770283 -1137907 -150513718 1175711768 9539575 18382006 8842431 -38160636 -277841071 -227677673 1420861055 -2027960661 -22826446

112120 -5067674232 -6543897953 116677925 -251460974 137804238 -13593983 116677925 -1997865283 -1566646015 -1721578385 -226835549 -13826288 -1574527828 -1219784249 72190108 -912272188 -123745415

112299 -2164442535 -2164164197 -1259034852 -90418221 -409481 -1259034852 2000338673 -775770143 -1359415693 -58364555 -331319943 -8552978 -24630584 -697576621 -1701131535 -117557475

112299

112210 -1908127292 -1907717811 -125876144 -901348767 -409481 -125876144 2248155628 -744694106 -132829419 -583600084 -331319943 -8552978 -24630584 -698645753 -1691597005 -117547931

112220 -256315243 -256446386 -273412 -2833443 -273412 -247816955 -31076037 -31121503 -45466 1069132 -953453 -9544

112399 -6733281855 -7651072159 -228081377 423301888 -183136966 -10183668 -228081377 -1561447333 225960653 -690971167 -91693182 -827964623 -736878375 -129446005 -2980237597 -110729744 -314327683

112399

112310 -1216381331 -1867193846 2414201 -78120978 -168463402 -9598907 2414201 -69264161 -713510308 -932413042 -218902734 -71454259 -582611084 -81434015 -366227906 221570235 -2956905

112320 -4960052652 -4960052652 -654964 506477011 -654964 -831557192 941275072 473132678 -468142394 -746537993 -4700358 -27256046 -228398811

112330 -55645022 -823428009 -251568423 -5054145 -14673564 -584761 -251568423 -37248531 -1804111 -231690803 -229886692 -9972371 -149464786 -47909843 111594909 -103901168 -284758633

112340 -397652 -397652 -102147 -102147

112410 -7744281309 -8755653147 2689560619 2327994559 720738421 2689560619 -3365741727 -2944451371 -2467928174 474625146 304287221 -21510483 1240220163 -11724190855 2585868415

113999 -25787435844 -5936148923 -3919678872 -2843867151 -856304095 -3919678872 -7181794 -9227014 -9227014 41024083 -18921

113999

113110 -215871688 -10805721 -267935 -242648964 -267935 -7181794 -9227014 -9227014

113111 -69637 -69637 0 0 -18921

113112 26687249 -80466 -80466 23703187 -80466

113113

113114 -2037332789 -607518977 -629593768 -24978467885 -629593768 41024083

113115 -545188 -3388596892 -859409583

113120 0 0

113210 145731037 145731037

113410 -5309172052 -5310780059 -3287325288 1608007 3105488 -3287325288

114999 -11732833 -158806745 17171703 -33334588 -33334588 -33334588 -167835044

114999

114110 -195343203 -48236421 -120334308 -33334588 -33334588 -33334588 -29158442

114120 140114187 140114187

114130 -62099314 -110570324 -2608176 -138676602

115999 210442886289 209977855733 -160353242 0 465030556 -3792 -160353242 203778408326 20389054782 20389054782 0 -120869 -295 -295 -70519732 -101139285 308740103697

115999

115199 206433730922 207435822458 -152603805 0 -1002091536 -152603805 -128528614 0 0 -66965571 -121807093 225103547632

115199

115110 209815544603 210817636139 -28444991 -1002091536 -28444991 0 -66965571 748268488 225103547632

115115 0 0 0 0 0 0

115125 0 0 0 0 0

115120 -3381813681 -3381813681 -124158814 0 -124158814 -128528614 0 0 -1966339418 0

115299 4009155367 2542033275 -7749437 1467122092 -3792 -7749437 20390693694 20389054782 20389054782 0 -120869 -295 -295 -3554161 20667808 83636556065

115299

115210 0 0 0 0 0 0 203888298318 203888298318 203888298318 0 0 0 0 0 0 83165796359

115220 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

115230 2133452987 664253454 1469199533 -3792 12443845 4167564 4167564 -120869 -3554035 221308 63717107

115240 216938682 216938682 -800844 -800844 6095177 -1918062 -1918062 -295 -295 2044650 -1053401

115250 -2043379 -27446 -485729 -2015933 -485729 996 0 0 0

115260 1662995148 1663056656 -6462864 -61508 -6462864 -126 0 4080960

115270 -2188071 -2188071 0 0 0 0 0 0 0

115280 0 0

115290

149999 25219857415 -14627665 24804695201 -353209851 -26320054 -26320054 -26320054 -7490706

149999

144999 13190748303 13190748303 3324804661

144999

141999 2874542441 2874542441 3325585832

141999

141110 27799562462 27799562462 3325585832

141115 945861948 945861948

141150

141180

142999 -15560567352 -15560567352 -781171

142999

Financial Result




thereof






2020 Q1 Q2 Q1 Q2


North America 204 96 (526) 9730 6200 (363)

South America 121 62 (492) 2404 1301 (459)

AsiaPacific 588 1021 737 8645 10622 229

Total 1937 1799 (71) 55288 41264 (254)

Hedges sales revenue - - x -233 -188 195




Third Parties


2020 2020 2020 2020 2020 2020 2020 2020 2020 2020


Audi 268 148 12454 8022 6783 4952 15 -658 15 -765

Skoda 237 135 4850 2696 2194 1098 307 -78 307 -78

SEAT 140 57 2558 1191 1383 739 -48 -223 -48 -223

Bentley 3 1 620 239 450 188 56 -155 56 -155


VW Com Vehicles 99 58 2671 1567 1255 769 14 -348 14 -348











thereof





FS Division 10404 8711 9477 7992 707 541 707 541









costs 3563 3132 431 121


Capitalized development costs 1564 1386 (179) (114)












Total -3371 -445 2926 868


Change in receivables -358 -496 (138) (385)


Change in other provisions -1208 -916 292 241


(excluding depreciation) 105 58 (47) (448)

Change in financial







Gross cash flow 4421 1733 (2688) (608)




thereof





Net cash flow -2375 -2130 245 103



Net liquidity 03-31-202006-30-2020 18036 19117 1082 60

Net liquidity 12-31-201906-30-2020 19878 19117 (761) (38)






Gross cash flow 4917 1909 (3008) (612)




thereof





Net cash flow -2518 -2288 231 92



Aquisition of MAN shares tendered compensation payments 2 - (2) x

Net liquidity 03-31-202006-30-2020 17787 18663 876 49

Net liquidity 12-31-201906-30-2020 21276 18663 (2613) (123)






Total 129 1035 906 x

thereof

SAIC-Volkswagen Groupsup1 -6 416 422 x

FAW-Volkswagen 184 445 260 x

Other Chinese Joint Venturesup2 46 87 40 862



GETT - - - ERRORDIV0

Navistar -10 -12 (2) 171

Sinotruk (Hong Kong) Ltd 27 - (27) x

Elimination of unrealized profit -107 19 126 x


sup2 Volkswagen FAW Engine Co Ltd Shanghai VW Powertrain VW-FAW Platform Company Ltd

Financial Result







Interest expenses -131 -876 (746) x

Interest result on other liabilitiessup2 234 -516 750 x

Result on interest derivativessup2 -8 -24 16 x


thereof


Exchange rate changes of receivables and liabilities -213 -379 (166) (781)

Net income from equity investments -88 23 112 x


Currency Other derivatives 394 282 (112) (285)

thereof Valuation 282 271 (11) (37)

thereof Realization 112 10 (102) (907)




1 Quartal 2 Quartal b(s) Vorjahr Q1 2 Quartal Q2 b(w) prior year


euro million 2020 2020 absolut 2020 2020 absolute b(s) Vj


thereof


Other hedging -944 214 1159 x - -944 - 214 1159 x


Reversal of provisions 185 293 108 585 - 185 93 200 15 81

Rental income 36 37 1 28 - 36 - 37 1 28




Other incomeexpenses -122 -199 (78) (637) - -122 -734 534 656 x


thereof Gain of contribution AID to Argo - - - 833 833 x






thereof


Other hedging -944 214 1159 x - -944 - 214 1159 x


Reversal of provisions1 185 293 108 585 - 185 93 200 15 81

Rental income 36 37 1 28 - 36 - 37 1 28




Other incomeexpenses2 -122 -199 (78) (637) - -122 -734 534 656 x









thereof



Other administrative expenses 48 -32 80 x






thereof







thereof Deferral of fixed costs in sales orga 138 113 25 181











thereof


Warranty costs 1121 11 1167 11 (46) (41) - 1121 - 1167 (46) (41)












Other -11 (00) -277 (03) 266 x - -11 - -277 266 x





1 Quartal 2 Quartal b(s) Vorjahr Q1 Q2 b(w) prior year


euro million 2020 in UE 2020 in UE absolut in 2020 2020 absolute


thereof


Warranty costs 1121 11 1167 11 (46) (41) - 1121 99 1068 53 47












Other -11 (00) -277 (03) 266 x - -11 -53 -224 212 x




euro million 2020 in UE 2020 in UE absolute in 2020 2020 absolut


thereof


Warranty costs1 1121 11 1167 11 (46) (41) - 1121 99 1068 53 47












Other2 -11 (00) -277 (03) 266 x - -11 -53 -224 212 x





1 Quartal 2 Quartal b(s) Vj Q1 Q2 b(w) py


euro million 2020 2020 2020 2020

Sales revenue 55054 1000 41076 1000 (254) 55054 1000 41076 1000 (254)

Cost of sales -45824 -832 -37404 -911 184 - -45824 -832 -46 -37358 -909 185

Gross profit 9231 168 3672 89 (602) 9231 168 3718 91 (597)












Q1 Q2 b(w) py 2 Quartal b(s) Vj


euro million 2020 2020 2020 2020

Sales revenue 55054 1000 41076 1000 (254) 55054 1000 41076 1000 (254)

Cost of sales1 -45824 -832 -37404 -911 184 - -45824 sup2 -832 -46 -37358 -909 185

Gross profit 9231 168 3672 89 (602) 9231 168 3718 91 (597)
















Sales revenue 55054 41076 (13978) (254)



















Sales revenue 55054 41076 (13978) (254)
















Inhaltsverzeichnis

01 Deckblatt



05 GuV


10 Vertriebskosten






21 Cash-Flow Pkw


24 F amp E Kosten



29 Finanzergebnis

Bilanz_GuV_Akt

Bilanz_GuV_Vgl

Bilanz 3112

Cashflow KK GJ

Cashflow KK Vgl

Umsatz Dritte GJ

Umsatz Dritte Vgl

Umsatz Dritte GJ VQ

Absatz MG GJ

Absatz MG Vgl

Absatz Marken GJ

Absatz Marken Vgl

Vorstandscharts


3 Lauf



Third Parties


2020 2020 2020 2020 2020 2020 2020 2020 2020 2020


Audi 266 335 12788 16710 7382 9243 864 2456 864 2456

Skoda 224 253 4493 5043 1826 1912 240 288 240 288

SEAT 122 165 2294 3155 1371 1696 -20 -49 -20 -49

Bentley 3 4 537 652 322 366 47 72 47 72


VW Com Vehicles 93 95 2436 2684 1151 1196 -27 -92 -27 -92











thereof





FS Division 11070 10592 10158 9596 541 1223 541 1223










thereof


Other hedging 178 455 277 x - 178 - 455 277 x



Rental income 36 36 0 10 - 36 - 36 0 10














thereof


Warranty costs 1248 13 1652 16 (404) (324) - 1248 - 1652 (404) (324)












Other -326 (03) -1027 (10) 701 x - -326 - -1027 701 x






euro million 2020 2020 2020 2020

Sales revenue 59355 1000 67398 1000 135 59355 1000 67398 1000 135

Cost of sales -48928 -824 -51780 -768 (58) - -48928 sup2 -824 - -51780 -768 (58)

Gross profit 10427 176 15617 232 498 10427 176 15617 232 498
















Sales revenue 59355 67398 8042 135


















Position 3000 3010 3021 3022 3023 3280 3030 3035 3027 3200 3210 3205 3270 3272 3340 3320 3325 3361 3415 3160 3330

Gesamtergebnis 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

IB9999 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

299999 -436507758823 -45129364845 12419261221 0 -10635442015 -23072997805 6417339959 8336140485 -482769505002 -360905616744 -387995784154 -44554859665 -4262837325 -46376905702 -87849327348 -23503890829 -20557638019 1047811877419

299999

199999 412196456951 25711908174 249140985 0 2108693579 163456413199 -12479000498 20830977763 35974639744 -8632063388 4230395449 12643673581 -2952633834 53740778213 496534942 -3416238 35792730168 222228211731

199999

111999 87918650522 78301517505 5510315369 17788913326 1225415175 -15421894 1606556112 16401943839 1113758199 3479417537 2365659338 -3159342918 41242233823 31052376 3286699911 21037791299 -384613825

111999

111199 -1842676415 -1776296573 1016133625 31487 -66379842 1243852 -379751 -815181799 -721314419 -721339265 -24846 2960969865 -250225 -1069590363 3546580332 -381290201

111199

111110 169114321 198850219 -379751 7884 -29735898 1243852 -379751 353385203 345603839 345578993 -24846 84685269 -250225 19435617 -7304839 -381290201

111115 2762671932 2762671932 -106292829 -106292829 -106292829 2876284596 -7319835

111116

111120 -3754885315 -3739578019 0 -15307296 -672833

111130 -2001136713 -2001136713 3140816 -1062274173 -960625429 -960625429 -12632737 3570028328

111140 98155936 1002896008 1016513376 -21336648 -8823322

111150 0 0 0 0

111299 2500260528 2553495186 3118700291 -53234658 189210194 -8662238 -42909474 -42909474 -103015459 -103015459

111299

111210 2500260528 2553495186 3118700291 -53234658 189210194 -8662238 -42909474 -42909474 -103015459 -103015459

111399 48886092075 40494374233 156102462 6323884952 156102462 3637994005 -452273529 194128791 2393561439 -3136915382 34379404531 1447334863 5084923382

111399

111310 41893304229 33501586387 -1055297774 7911411795 -1055297774 -152661596 -1822880246 -237194767 1585685479 -7046789765 33208597616 9754838893 9960708261

111320 6992787846 6992787846 1211400236 -1587526843 1211400236 5164609965 1370606717 2178482677 80787596 3909874383 1170806915 -830750403 -4875784879

111330

111499 38374974334 37029944659 -185543167 11461879674 1345029675 -16665746 -143298951 13665754013 2287346147 2302378366 15032219 -22427536 4004874886 413789444 2908955411 12406287585 -3323624

111499

111410 21976128676 21617032746 -143298951 86544508 35909593 -16665746 -143298951 604430169 123805685 141480437 17674752 -22427536 351761694 273698912 4291896545 12249239943 -3323624

111420 1375409231 131265743 0 1244143488 0 263486 263486 263486 57408346 940409

111430 1507544118 15333650923 11375335166 -258209743 13058688984 2160905602 2158263069 -2642533 3653113192 140090532 -144034948 63006742

111440

111441

111470 0

111480 -52004753 -52004753 -42244216 0 0

112999 99667678855 99975771182 9864719694 2326593494 -4990869802 -27303196 9685358214 46004214018 16372446085 2517728787 8792195388 -205630844 6213220273 -45526088 31398203179 -5987408857 -116999887

112999

112110 39604787894 34845333036 3530626918 471096937 -1015211826 -176545 3351265438 1019122233 -592793325 718337646 7776169785 23018723 49525828 -126680899 21233470103 594492516 951410319

112120 15708324054 16637058091 2021158712 -54600738 -276824605 -10646249 2021158712 10816091619 9009350431 10047470521 103150351 -7698206 4889557075 -144008696 2482954697 -1390886179 -113691109

112299 46283638097 46263933895 -110662673 12680891261 19664019 -110662673 31207643387 -1173697413 12155569045 13329266458 131404449 -78983844 20825056 9341400239 358570436 1183145839

112299

112210 4634605751 46326393491 -118416496 12683657884 19664019 -118416496 31261237153 -112305042 12206268986 13329319406 131404449 1346452 20825056 9348195791 369418697 1183156019

112220 -62419413 -62459596 7753823 -2766623 7753823 -53593766 -50646993 -50699941 -52948 -92448364 -6795552 -10848261 -1018

112399 81912262326 82182178053 2234477667 15646492393 170104233 -14891497 2234477667 42724472379 9139608189 12241398072 3101789883 -35235581 2073950496 203533493 12993568591 16401052427 -375567877

112399

112310 13871433627 13464837716 1481389494 3569979339 150640456 -7882703 1481389494 6192981955 1053164444 2347170929 1294006485 16856116 1399430634 212595661 1847078642 1308455688 -78523114

112320 67139559892 67139559892 461164782 11821389749 461164782 3526297616 6778630028 8818557468 203992744 -361851837 846626434 9657784362 14901390587

112330 901577031 1578088669 291923391 255123305 19463777 -7008794 291923391 1268514264 1307813717 1075669675 -232144042 -7360089 -17203205 -8987646 1488705587 191206152 -297044763

112340 -308224 -308224 -74522 -74522

112410 -83841333516 -79952731893 218911907 -26417286359 -3888601623 218911907 -48935215697 -10021797 -16450526228 -16446534248 -720829282 804958 -14653190451 -21950638057 -1762297059

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113999

113110 -371588304 119664462 3664126 4649211212 3664126 98595252 9111638 9111638

113111 -25476475 -25476475 0 0 -26148

113112 37520988 -15549 -15549 33670378 -15549

113113

113114 43983612862 -876414377 -928951016 38730714774 -928951016 36034241

113115 -003 1564117746 58361342

113120 0 0

113210 607924054 607924054

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114999 1951449077 -121052867 895956638 -77325459 -77325459 -77325459 -1776001534

114999

114110 3574911794 -104820895 4707340063 -77325459 -77325459 -77325459 -63717943

114120 -3861154401 0 -3861154401 0

114130 2237691684 -1105707775 49770976 -1138822104

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115999

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115199

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115299

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115270

115280 0 0 0 0

115290 -187899697 -187899697 -187899697

149999 129494684268 -35452593 129138895257 -11239407108 -27782082 -27782082 -27782082 1090216354 -76074243

149999

144999 28036207613 28036207613 -10613952582

144999

141999 24062736093 24062736093 -10890518052

141999

141110 24062736091 24062736091 -10890518052

141115 002 002

141150

141180

142999 3979161649 3979161649 27656547

142999

Financial Result




thereof


Interest result -407 -520 (113) (278)




Q4 2020 2020 2020 2020


North America 205 239 166 9915 10965 106

South America 139 149 71 2175 2753 266

AsiaPacific 1148 1255 93 11113 13908 251

Total 2575 2846 105 59390 67287 133





Third Parties


2020 2020 2020 2020 2020 2020 2020 2020 2020 2020


Audi 266 335 12788 16710 7382 9243 864 2518 864 2456

Skoda 224 253 4493 5043 1826 1912 240 288 240 288

SEAT 122 165 2294 3155 1371 1696 -20 -49 -20 -49

Bentley 3 4 537 652 322 366 47 72 47 72


VW Com Vehicles 93 95 2436 2684 1151 1196 -27 -92 -27 -92











thereof





FS Division 11070 10592 10158 9596 541 1223 541 1223









costs 3496 3693 (197) (56)














Total 3981 914 (3066) (770)







Change in financial







Gross cash flow 5454 10216 4762 873




thereof





Net cash flow 5968 3929 (2040) (342)



Net liquidity 09-30-202012-31-2020 25608 26847 1239 48

Net liquidity 12-31-201912-31-2020 19878 26847 6969 351






Gross cash flow 6182 10635 4453 720




thereof





Net cash flow 6224 4939 (1285) (206)



Net liquidity 09-30-202012-31-2020 24848 26796 1949 78

Net liquidity 12-31-201912-31-2020 21276 26796 5520 259






Total 855 738 (117) (137)

thereof








Argo -34 -44 (10) (281)

Navistar -10 -34 (24) x

Northvoltsup3 -15 -21 (6) (408)






Financial Result





Interest result -407 -520 (113) (278)






thereof















thereof


Other hedging 178 455 277 x - 178 - 455 277 x



Rental income 36 36 0 10 - 36 - 36 0 10













thereof


Other hedging 178 455 277 x - 178 - 455 277 x



Rental income 36 36 0 10 - 36 - 36 0 10














thereof









thereof


Sales Expenses 1229 1861 (632) (514)

















thereof




















thereof





















euro million 2020 2020 2020 2020

Sales revenue 59355 1000 67398 1000 135 59355 1000 67398 1000 135

Cost of sales -48928 -824 -51780 -768 (58) - -48928 -824 117 -51897 -770 (61)

Gross profit 10427 176 15617 232 498 10427 176 15500 230 487














euro million 2020 2020 2020 2020

Sales revenue 59355 1000 67398 1000 135 59355 1000 67398 1000 135

Cost of sales1 -48928 -824 -51780 -768 (58) - -48928 sup2 -824 117 -51897 -770 (61)

Gross profit 10427 176 15617 232 498 10427 176 15500 230 487
















Sales revenue 59355 67398 8042 135



















Sales revenue 59355 67398 8042 135
















Inhaltsverzeichnis

01 Deckblatt



05 GuV


10 Vertriebskosten






21 Cash-Flow Pkw


24 F amp E Kosten




29 Finanzergebnis

Bilanz_GuV_Akt

Bilanz_GuV_Vgl

Bilanz 3112

Cashflow KK GJ

Cashflow KK Vgl

Umsatz Dritte GJ

Umsatz Dritte Vgl

Umsatz Dritte GJ VQ

Absatz MG GJ

Absatz MG Vgl

Absatz Marken GJ

Vorstandscharts


5 Lauf



Third Parties


2019 2020 2019 2020 2019 2020 2019 2020 2019 2020


Audi 300 335 14348 16710 7906 9243 1271 2456 1271 2456

Skoda 257 253 4995 5043 2402 1912 485 288 485 288

SEAT 151 165 2667 3155 1427 1696 197 -49 197 -49

Bentley 4 4 786 652 539 366 0 72 0 72


VW Com Vehicles 111 95 2717 2684 1062 1196 13 -92 13 -92









Sspecial items - -


thereof





FS Division 10573 10592 9516 9596 986 1223 986 1223










thereof


Other hedging -332 455 787 x - -332 - 455 787 x



Rental income 36 36 0 02 - 36 - 36 0 02














thereof




















euro million 2019 2020 2019 2020

Sales revenue 66015 1000 67398 1000 21 66015 1000 67398 1000 21

Cost of sales -53254 -807 -51780 -768 28 - -53254 sup2 -807 - -51780 -768 28

Gross profit 12761 193 15617 232 224 12761 193 15617 232 224
















Sales revenue 66015 67398 1383 21


















Position 3000 3010 3021 3022 3023 3280 3030 3035 3027 3200 3210 3205 3270 3272 3340 3320 3325 3361 3415 3160 3330

Gesamtergebnis 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

IB9999 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

299999 -436507758823 -45129364845 12419261221 0 -10635442015 -23072997805 6417339959 8336140485 -482769505002 -360905616744 -387995784154 -44554859665 -4262837325 -46376905702 -87849327348 -23503890829 -20557638019 1047811877419

299999

199999 412196456951 25711908174 249140985 0 2108693579 163456413199 -12479000498 20830977763 35974639744 -8632063388 4230395449 12643673581 -2952633834 53740778213 496534942 -3416238 35792730168 222228211731

199999

111999 87918650522 78301517505 5510315369 17788913326 1225415175 -15421894 1606556112 16401943839 1113758199 3479417537 2365659338 -3159342918 41242233823 31052376 3286699911 21037791299 -384613825

111999

111199 -1842676415 -1776296573 1016133625 31487 -66379842 1243852 -379751 -815181799 -721314419 -721339265 -24846 2960969865 -250225 -1069590363 3546580332 -381290201

111199

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111116

111120 -3754885315 -3739578019 0 -15307296 -672833

111130 -2001136713 -2001136713 3140816 -1062274173 -960625429 -960625429 -12632737 3570028328

111140 98155936 1002896008 1016513376 -21336648 -8823322

111150 0 0 0 0

111299 2500260528 2553495186 3118700291 -53234658 189210194 -8662238 -42909474 -42909474 -103015459 -103015459

111299

111210 2500260528 2553495186 3118700291 -53234658 189210194 -8662238 -42909474 -42909474 -103015459 -103015459

111399 48886092075 40494374233 156102462 6323884952 156102462 3637994005 -452273529 194128791 2393561439 -3136915382 34379404531 1447334863 5084923382

111399

111310 41893304229 33501586387 -1055297774 7911411795 -1055297774 -152661596 -1822880246 -237194767 1585685479 -7046789765 33208597616 9754838893 9960708261

111320 6992787846 6992787846 1211400236 -1587526843 1211400236 5164609965 1370606717 2178482677 80787596 3909874383 1170806915 -830750403 -4875784879

111330

111499 38374974334 37029944659 -185543167 11461879674 1345029675 -16665746 -143298951 13665754013 2287346147 2302378366 15032219 -22427536 4004874886 413789444 2908955411 12406287585 -3323624

111499

111410 21976128676 21617032746 -143298951 86544508 35909593 -16665746 -143298951 604430169 123805685 141480437 17674752 -22427536 351761694 273698912 4291896545 12249239943 -3323624

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111430 1507544118 15333650923 11375335166 -258209743 13058688984 2160905602 2158263069 -2642533 3653113192 140090532 -144034948 63006742

111440

111441

111470 0

111480 -52004753 -52004753 -42244216 0 0

112999 99667678855 99975771182 9864719694 2326593494 -4990869802 -27303196 9685358214 46004214018 16372446085 2517728787 8792195388 -205630844 6213220273 -45526088 31398203179 -5987408857 -116999887

112999

112110 39604787894 34845333036 3530626918 471096937 -1015211826 -176545 3351265438 1019122233 -592793325 718337646 7776169785 23018723 49525828 -126680899 21233470103 594492516 951410319

112120 15708324054 16637058091 2021158712 -54600738 -276824605 -10646249 2021158712 10816091619 9009350431 10047470521 103150351 -7698206 4889557075 -144008696 2482954697 -1390886179 -113691109

112299 46283638097 46263933895 -110662673 12680891261 19664019 -110662673 31207643387 -1173697413 12155569045 13329266458 131404449 -78983844 20825056 9341400239 358570436 1183145839

112299

112210 4634605751 46326393491 -118416496 12683657884 19664019 -118416496 31261237153 -112305042 12206268986 13329319406 131404449 1346452 20825056 9348195791 369418697 1183156019

112220 -62419413 -62459596 7753823 -2766623 7753823 -53593766 -50646993 -50699941 -52948 -92448364 -6795552 -10848261 -1018

112399 81912262326 82182178053 2234477667 15646492393 170104233 -14891497 2234477667 42724472379 9139608189 12241398072 3101789883 -35235581 2073950496 203533493 12993568591 16401052427 -375567877

112399

112310 13871433627 13464837716 1481389494 3569979339 150640456 -7882703 1481389494 6192981955 1053164444 2347170929 1294006485 16856116 1399430634 212595661 1847078642 1308455688 -78523114

112320 67139559892 67139559892 461164782 11821389749 461164782 3526297616 6778630028 8818557468 203992744 -361851837 846626434 9657784362 14901390587

112330 901577031 1578088669 291923391 255123305 19463777 -7008794 291923391 1268514264 1307813717 1075669675 -232144042 -7360089 -17203205 -8987646 1488705587 191206152 -297044763

112340 -308224 -308224 -74522 -74522

112410 -83841333516 -79952731893 218911907 -26417286359 -3888601623 218911907 -48935215697 -10021797 -16450526228 -16446534248 -720829282 804958 -14653190451 -21950638057 -1762297059

113999 47880745306 2857656824 388218702 45594491585 69014778 388218702 98595252 6883178 6883178 36034241 -26148

113999

113110 -371588304 119664462 3664126 4649211212 3664126 98595252 9111638 9111638

113111 -25476475 -25476475 0 0 -26148

113112 37520988 -15549 -15549 33670378 -15549

113113

113114 43983612862 -876414377 -928951016 38730714774 -928951016 36034241

113115 -003 1564117746 58361342

113120 0 0

113210 607924054 607924054

113410 3878040459 3869187038 1313521141 8853421 10653436 1313521141 -222846 -222846

114999 1951449077 -121052867 895956638 -77325459 -77325459 -77325459 -1776001534

114999

114110 3574911794 -104820895 4707340063 -77325459 -77325459 -77325459 -63717943

114120 -3861154401 0 -3861154401 0

114130 2237691684 -1105707775 49770976 -1138822104

115999 54815719765 74663291267 4304547195 0 -14092792061 -4632902 4304547195 411415979 8495799144 8495799144 0 -19605 7017805243 38143 -5484767646 2185645494 20248767469

115999

115199 66995265715 74906400125 362852014 0 -7083216659 362852014 -4229036607 175166667 175166667 -5832954269 684915683 45042787943

115199

115110 -3626714094 4284420316 413415317 -7083216659 413415317 0 -1184618 -19518323 0

115115 0 0 0 0 0 0

115125 0 0 0 0 0

115120 70621979809 70621979809 -50563303 0 -50563303 -4229036607 175166667 175166667 -5714492469 704434006 45042787943

115299 -1217954595 -243108858 3941695181 -7009575402 -4632902 3941695181 8343196397 8320632477 8320632477 0 -19605 7017805243 38143 348186623 1500729811 157444886747

115299

115210 0 2938462478 2579393343 638363074 0 2579393343 835456786 835456786 835456786 0 0 -2500000 0 359069135 0 170827978057

115220 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

115230 -10278762719 -3068950276 -7209812443 -4632902 -6909027 -35223933 -35223933 -19605 72677671 -100437836 1501954811 -11360285357

115240 -977344742 -189498904 575571 -787845838 575571 -4462436 128855 128855 38143 38143 -22497197 -122954753

115250 -1522564464 -1526969621 6474036 4405157 6474036 0 0 0 149981343 -12250 -16822000

115260 787025672 1791747162 1355252231 345314648 0 1355252231 149970875 -2176512

115270

115280 0 0 0 0

115290 -187899697 -187899697 -187899697

149999 129494684268 -35452593 129138895257 -11239407108 -27782082 -27782082 -27782082 1090216354 -76074243

149999

144999 28036207613 28036207613 -10613952582

144999

141999 24062736093 24062736093 -10890518052

141999

141110 24062736091 24062736091 -10890518052

141115 002 002

141150

141180

142999 3979161649 3979161649 27656547

142999

Financial Result




thereof


Interest result -278 -520 (242) (871)




Q4 2019 2020 2019 2020


North America 219 239 93 10474 10965 47

South America 162 149 (78) 2865 2753 (39)

AsiaPacific 1367 1255 (82) 12664 13908 98

Total 2973 2846 (43) 66075 67287 18





Third Parties


2019 2020 2019 2020 2019 2020 2019 2020 2019 2020


Audi 300 335 14348 16710 7906 9243 1271 2518 1271 2456

Skoda 257 253 4995 5043 2402 1912 485 288 485 288

SEAT 151 165 2667 3155 1427 1696 197 -49 197 -49

Bentley 4 4 786 652 539 366 0 72 0 72


VW Com Vehicles 111 95 2717 2684 1062 1196 13 -92 13 -92











thereof





FS Division 10573 10592 9516 9596 986 1223 986 1223









costs 3609 3693 (84) (23)














Total 3039 914 (2125) (699)







Change in financial



03022021 AT




Gross cash flow 5908 10216 4308 729




thereof








Net liquidity 12-31-201912-31-2020 19878 26847 6969 351






Gross cash flow 6774 10635 3861 570




thereof








Net liquidity 12-31-201912-31-2020 21276 26796 5520 259






Total 754 738 (16) (21)

thereof








Argo - -44 (44) x








Financial Result





Interest result -278 -520 (242) (871)






thereof















thereof


Other hedging -332 455 787 x - -332 - 455 787 x



Rental income 36 36 0 02 - 36 - 36 0 02













thereof


Other hedging -332 455 787 x - -332 - 455 787 x



Rental income 36 36 0 02 - 36 - 36 0 02














thereof









thereof



















thereof




















thereof





















euro million 2019 2020 2019 2020

Sales revenue 66015 1000 67398 1000 21 66015 1000 67398 1000 21

Cost of sales -53254 -807 -51780 -768 28 296 -53550 -811 117 -51897 -770 31

Gross profit 12761 193 15617 232 224 12465 189 15500 230 243














euro million 2019 2020 2019 2020

Sales revenue 66015 1000 67398 1000 21 66015 1000 67398 1000 21

Cost of sales1 -53254 -807 -51780 -768 28 296 -53550 sup2 -811 117 -51897 -770 31

Gross profit 12761 193 15617 232 224 12465 189 15500 230 243
















Sales revenue 66015 67398 1383 21



Special items -1080 -245 835 773
















Sales revenue 66015 67398 1383 21
















Inhaltsverzeichnis

01 Deckblatt



05 GuV


10 Vertriebskosten






21 Cash-Flow Pkw


24 F amp E Kosten




29 Finanzergebnis

Bilanz_GuV_Akt

Bilanz_GuV_Vgl

Bilanz 3112

Cashflow KK GJ

Cashflow KK Vgl

Umsatz Dritte GJ

Umsatz Dritte Vgl

Umsatz Dritte GJ VQ

Absatz MG GJ

Absatz MG Vgl

Absatz Marken GJ

Vorstandscharts


5 Lauf



Third Parties


2019 2020 2019 2020 2019 2020 2019 2020 2019 2020


Audi 300 335 14348 16710 7906 9243 1271 2456 1271 2456

Skoda 257 253 4995 5043 2402 1912 485 288 485 288

SEAT 151 165 2667 3155 1427 1696 197 -49 197 -49

Bentley 4 4 786 652 539 366 0 72 0 72


VW Com Vehicles 111 95 2717 2684 1062 1196 13 -92 13 -92









Sspecial items - -


thereof





FS Division 10573 10592 9516 9596 986 1223 986 1223










thereof


Other hedging -332 455 787 x - -332 - 455 787 x



Rental income 36 36 0 02 - 36 - 36 0 02














thereof




















euro million 2019 2020 2019 2020

Sales revenue 66015 1000 67398 1000 21 66015 1000 67398 1000 21

Cost of sales -53254 -807 -51780 -768 28 - -53254 sup2 -807 - -51780 -768 28

Gross profit 12761 193 15617 232 224 12761 193 15617 232 224
















Sales revenue 66015 67398 1383 21


















Position 3000 3010 3021 3022 3023 3280 3030 3035 3027 3200 3210 3205 3270 3272 3340 3320 3325 3361 3415 3160 3330

Gesamtergebnis 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

IB9999 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

299999 -436507758823 -45129364845 12419261221 0 -10635442015 -23072997805 6417339959 8336140485 -482769505002 -360905616744 -387995784154 -44554859665 -4262837325 -46376905702 -87849327348 -23503890829 -20557638019 1047811877419

299999

199999 412196456951 25711908174 249140985 0 2108693579 163456413199 -12479000498 20830977763 35974639744 -8632063388 4230395449 12643673581 -2952633834 53740778213 496534942 -3416238 35792730168 222228211731

199999

111999 87918650522 78301517505 5510315369 17788913326 1225415175 -15421894 1606556112 16401943839 1113758199 3479417537 2365659338 -3159342918 41242233823 31052376 3286699911 21037791299 -384613825

111999

111199 -1842676415 -1776296573 1016133625 31487 -66379842 1243852 -379751 -815181799 -721314419 -721339265 -24846 2960969865 -250225 -1069590363 3546580332 -381290201

111199

111110 169114321 198850219 -379751 7884 -29735898 1243852 -379751 353385203 345603839 345578993 -24846 84685269 -250225 19435617 -7304839 -381290201

111115 2762671932 2762671932 -106292829 -106292829 -106292829 2876284596 -7319835

111116

111120 -3754885315 -3739578019 0 -15307296 -672833

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111140 98155936 1002896008 1016513376 -21336648 -8823322

111150 0 0 0 0

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111299

111210 2500260528 2553495186 3118700291 -53234658 189210194 -8662238 -42909474 -42909474 -103015459 -103015459

111399 48886092075 40494374233 156102462 6323884952 156102462 3637994005 -452273529 194128791 2393561439 -3136915382 34379404531 1447334863 5084923382

111399

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111320 6992787846 6992787846 1211400236 -1587526843 1211400236 5164609965 1370606717 2178482677 80787596 3909874383 1170806915 -830750403 -4875784879

111330

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111499

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111440

111441

111470 0

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112999

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112299

112210 4634605751 46326393491 -118416496 12683657884 19664019 -118416496 31261237153 -112305042 12206268986 13329319406 131404449 1346452 20825056 9348195791 369418697 1183156019

112220 -62419413 -62459596 7753823 -2766623 7753823 -53593766 -50646993 -50699941 -52948 -92448364 -6795552 -10848261 -1018

112399 81912262326 82182178053 2234477667 15646492393 170104233 -14891497 2234477667 42724472379 9139608189 12241398072 3101789883 -35235581 2073950496 203533493 12993568591 16401052427 -375567877

112399

112310 13871433627 13464837716 1481389494 3569979339 150640456 -7882703 1481389494 6192981955 1053164444 2347170929 1294006485 16856116 1399430634 212595661 1847078642 1308455688 -78523114

112320 67139559892 67139559892 461164782 11821389749 461164782 3526297616 6778630028 8818557468 203992744 -361851837 846626434 9657784362 14901390587

112330 901577031 1578088669 291923391 255123305 19463777 -7008794 291923391 1268514264 1307813717 1075669675 -232144042 -7360089 -17203205 -8987646 1488705587 191206152 -297044763

112340 -308224 -308224 -74522 -74522

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113999 47880745306 2857656824 388218702 45594491585 69014778 388218702 98595252 6883178 6883178 36034241 -26148

113999

113110 -371588304 119664462 3664126 4649211212 3664126 98595252 9111638 9111638

113111 -25476475 -25476475 0 0 -26148

113112 37520988 -15549 -15549 33670378 -15549

113113

113114 43983612862 -876414377 -928951016 38730714774 -928951016 36034241

113115 -003 1564117746 58361342

113120 0 0

113210 607924054 607924054

113410 3878040459 3869187038 1313521141 8853421 10653436 1313521141 -222846 -222846

114999 1951449077 -121052867 895956638 -77325459 -77325459 -77325459 -1776001534

114999

114110 3574911794 -104820895 4707340063 -77325459 -77325459 -77325459 -63717943

114120 -3861154401 0 -3861154401 0

114130 2237691684 -1105707775 49770976 -1138822104

115999 54815719765 74663291267 4304547195 0 -14092792061 -4632902 4304547195 411415979 8495799144 8495799144 0 -19605 7017805243 38143 -5484767646 2185645494 20248767469

115999

115199 66995265715 74906400125 362852014 0 -7083216659 362852014 -4229036607 175166667 175166667 -5832954269 684915683 45042787943

115199

115110 -3626714094 4284420316 413415317 -7083216659 413415317 0 -1184618 -19518323 0

115115 0 0 0 0 0 0

115125 0 0 0 0 0

115120 70621979809 70621979809 -50563303 0 -50563303 -4229036607 175166667 175166667 -5714492469 704434006 45042787943

115299 -1217954595 -243108858 3941695181 -7009575402 -4632902 3941695181 8343196397 8320632477 8320632477 0 -19605 7017805243 38143 348186623 1500729811 157444886747

115299

115210 0 2938462478 2579393343 638363074 0 2579393343 835456786 835456786 835456786 0 0 -2500000 0 359069135 0 170827978057

115220 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

115230 -10278762719 -3068950276 -7209812443 -4632902 -6909027 -35223933 -35223933 -19605 72677671 -100437836 1501954811 -11360285357

115240 -977344742 -189498904 575571 -787845838 575571 -4462436 128855 128855 38143 38143 -22497197 -122954753

115250 -1522564464 -1526969621 6474036 4405157 6474036 0 0 0 149981343 -12250 -16822000

115260 787025672 1791747162 1355252231 345314648 0 1355252231 149970875 -2176512

115270

115280 0 0 0 0

115290 -187899697 -187899697 -187899697

149999 129494684268 -35452593 129138895257 -11239407108 -27782082 -27782082 -27782082 1090216354 -76074243

149999

144999 28036207613 28036207613 -10613952582

144999

141999 24062736093 24062736093 -10890518052

141999

141110 24062736091 24062736091 -10890518052

141115 002 002

141150

141180

142999 3979161649 3979161649 27656547

142999

Financial Result




thereof


Interest result -278 -520 (242) (871)




Q4 2019 2020 2019 2020


North America 219 239 93 10474 10965 47

South America 162 149 (78) 2865 2753 (39)

AsiaPacific 1367 1255 (82) 12664 13908 98

Total 2973 2846 (43) 66075 67287 18





Third Parties


2019 2020 2019 2020 2019 2020 2019 2020 2019 2020


Audi 300 335 14348 16710 7906 9243 1271 2518 1271 2456

Skoda 257 253 4995 5043 2402 1912 485 288 485 288

SEAT 151 165 2667 3155 1427 1696 197 -49 197 -49

Bentley 4 4 786 652 539 366 0 72 0 72


VW Com Vehicles 111 95 2717 2684 1062 1196 13 -92 13 -92











thereof





FS Division 10573 10592 9516 9596 986 1223 986 1223









costs 3609 3693 (84) (23)














Total 3039 914 (2125) (699)







Change in financial



03022021 AT




Gross cash flow 5908 10216 4308 729




thereof








Net liquidity 12-31-201912-31-2020 19878 26847 6969 351






Gross cash flow 6774 10635 3861 570




thereof








Net liquidity 12-31-201912-31-2020 21276 26796 5520 259






Total 754 738 (16) (21)

thereof








Argo - -44 (44) x








Financial Result





Interest result -278 -520 (242) (871)






thereof















thereof


Other hedging -332 455 787 x - -332 - 455 787 x



Rental income 36 36 0 02 - 36 - 36 0 02













thereof


Other hedging -332 455 787 x - -332 - 455 787 x



Rental income 36 36 0 02 - 36 - 36 0 02














thereof









thereof



















thereof




















thereof





















euro million 2019 2020 2019 2020

Sales revenue 66015 1000 67398 1000 21 66015 1000 67398 1000 21

Cost of sales -53254 -807 -51780 -768 28 296 -53550 -811 117 -51897 -770 31

Gross profit 12761 193 15617 232 224 12465 189 15500 230 243














euro million 2019 2020 2019 2020

Sales revenue 66015 1000 67398 1000 21 66015 1000 67398 1000 21

Cost of sales1 -53254 -807 -51780 -768 28 296 -53550 sup2 -811 117 -51897 -770 31

Gross profit 12761 193 15617 232 224 12465 189 15500 230 243
















Sales revenue 66015 67398 1383 21



Special items -1080 -245 835 773
















Sales revenue 66015 67398 1383 21
















Inhaltsverzeichnis

01 Deckblatt



05 GuV


10 Vertriebskosten






21 Cash-Flow Pkw


24 F amp E Kosten




29 Finanzergebnis

Bilanz_GuV_Akt

Bilanz_GuV_Vgl

Bilanz 3112

Cashflow KK GJ

Cashflow KK Vgl

Umsatz Dritte GJ

Umsatz Dritte Vgl

Umsatz Dritte GJ VQ

Absatz MG GJ

Absatz MG Vgl

Absatz Marken GJ

Vorstandscharts


5 Lauf



Third Parties


2019 2020 2019 2020 2019 2020 2019 2020 2019 2020


Audi 300 335 14348 16710 7906 9243 1271 2456 1271 2456

Skoda 257 253 4995 5043 2402 1912 485 288 485 288

SEAT 151 165 2667 3155 1427 1696 197 -49 197 -49

Bentley 4 4 786 652 539 366 0 72 0 72


VW Com Vehicles 111 95 2717 2684 1062 1196 13 -92 13 -92









Sspecial items - -


thereof





FS Division 10573 10592 9516 9596 986 1223 986 1223










thereof


Other hedging -332 455 787 x - -332 - 455 787 x



Rental income 36 36 0 02 - 36 - 36 0 02














thereof




















euro million 2019 2020 2019 2020

Sales revenue 66015 1000 67398 1000 21 66015 1000 67398 1000 21

Cost of sales -53254 -807 -51780 -768 28 - -53254 sup2 -807 - -51780 -768 28

Gross profit 12761 193 15617 232 224 12761 193 15617 232 224
















Sales revenue 66015 67398 1383 21


















Position 3000 3010 3021 3022 3023 3280 3030 3035 3027 3200 3210 3205 3270 3272 3340 3320 3325 3361 3415 3160 3330

Gesamtergebnis 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

IB9999 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

299999 -436507758823 -45129364845 12419261221 0 -10635442015 -23072997805 6417339959 8336140485 -482769505002 -360905616744 -387995784154 -44554859665 -4262837325 -46376905702 -87849327348 -23503890829 -20557638019 1047811877419

299999

199999 412196456951 25711908174 249140985 0 2108693579 163456413199 -12479000498 20830977763 35974639744 -8632063388 4230395449 12643673581 -2952633834 53740778213 496534942 -3416238 35792730168 222228211731

199999

111999 87918650522 78301517505 5510315369 17788913326 1225415175 -15421894 1606556112 16401943839 1113758199 3479417537 2365659338 -3159342918 41242233823 31052376 3286699911 21037791299 -384613825

111999

111199 -1842676415 -1776296573 1016133625 31487 -66379842 1243852 -379751 -815181799 -721314419 -721339265 -24846 2960969865 -250225 -1069590363 3546580332 -381290201

111199

111110 169114321 198850219 -379751 7884 -29735898 1243852 -379751 353385203 345603839 345578993 -24846 84685269 -250225 19435617 -7304839 -381290201

111115 2762671932 2762671932 -106292829 -106292829 -106292829 2876284596 -7319835

111116

111120 -3754885315 -3739578019 0 -15307296 -672833

111130 -2001136713 -2001136713 3140816 -1062274173 -960625429 -960625429 -12632737 3570028328

111140 98155936 1002896008 1016513376 -21336648 -8823322

111150 0 0 0 0

111299 2500260528 2553495186 3118700291 -53234658 189210194 -8662238 -42909474 -42909474 -103015459 -103015459

111299

111210 2500260528 2553495186 3118700291 -53234658 189210194 -8662238 -42909474 -42909474 -103015459 -103015459

111399 48886092075 40494374233 156102462 6323884952 156102462 3637994005 -452273529 194128791 2393561439 -3136915382 34379404531 1447334863 5084923382

111399

111310 41893304229 33501586387 -1055297774 7911411795 -1055297774 -152661596 -1822880246 -237194767 1585685479 -7046789765 33208597616 9754838893 9960708261

111320 6992787846 6992787846 1211400236 -1587526843 1211400236 5164609965 1370606717 2178482677 80787596 3909874383 1170806915 -830750403 -4875784879

111330

111499 38374974334 37029944659 -185543167 11461879674 1345029675 -16665746 -143298951 13665754013 2287346147 2302378366 15032219 -22427536 4004874886 413789444 2908955411 12406287585 -3323624

111499

111410 21976128676 21617032746 -143298951 86544508 35909593 -16665746 -143298951 604430169 123805685 141480437 17674752 -22427536 351761694 273698912 4291896545 12249239943 -3323624

111420 1375409231 131265743 0 1244143488 0 263486 263486 263486 57408346 940409

111430 1507544118 15333650923 11375335166 -258209743 13058688984 2160905602 2158263069 -2642533 3653113192 140090532 -144034948 63006742

111440

111441

111470 0

111480 -52004753 -52004753 -42244216 0 0

112999 99667678855 99975771182 9864719694 2326593494 -4990869802 -27303196 9685358214 46004214018 16372446085 2517728787 8792195388 -205630844 6213220273 -45526088 31398203179 -5987408857 -116999887

112999

112110 39604787894 34845333036 3530626918 471096937 -1015211826 -176545 3351265438 1019122233 -592793325 718337646 7776169785 23018723 49525828 -126680899 21233470103 594492516 951410319

112120 15708324054 16637058091 2021158712 -54600738 -276824605 -10646249 2021158712 10816091619 9009350431 10047470521 103150351 -7698206 4889557075 -144008696 2482954697 -1390886179 -113691109

112299 46283638097 46263933895 -110662673 12680891261 19664019 -110662673 31207643387 -1173697413 12155569045 13329266458 131404449 -78983844 20825056 9341400239 358570436 1183145839

112299

112210 4634605751 46326393491 -118416496 12683657884 19664019 -118416496 31261237153 -112305042 12206268986 13329319406 131404449 1346452 20825056 9348195791 369418697 1183156019

112220 -62419413 -62459596 7753823 -2766623 7753823 -53593766 -50646993 -50699941 -52948 -92448364 -6795552 -10848261 -1018

112399 81912262326 82182178053 2234477667 15646492393 170104233 -14891497 2234477667 42724472379 9139608189 12241398072 3101789883 -35235581 2073950496 203533493 12993568591 16401052427 -375567877

112399

112310 13871433627 13464837716 1481389494 3569979339 150640456 -7882703 1481389494 6192981955 1053164444 2347170929 1294006485 16856116 1399430634 212595661 1847078642 1308455688 -78523114

112320 67139559892 67139559892 461164782 11821389749 461164782 3526297616 6778630028 8818557468 203992744 -361851837 846626434 9657784362 14901390587

112330 901577031 1578088669 291923391 255123305 19463777 -7008794 291923391 1268514264 1307813717 1075669675 -232144042 -7360089 -17203205 -8987646 1488705587 191206152 -297044763

112340 -308224 -308224 -74522 -74522

112410 -83841333516 -79952731893 218911907 -26417286359 -3888601623 218911907 -48935215697 -10021797 -16450526228 -16446534248 -720829282 804958 -14653190451 -21950638057 -1762297059

113999 47880745306 2857656824 388218702 45594491585 69014778 388218702 98595252 6883178 6883178 36034241 -26148

113999

113110 -371588304 119664462 3664126 4649211212 3664126 98595252 9111638 9111638

113111 -25476475 -25476475 0 0 -26148

113112 37520988 -15549 -15549 33670378 -15549

113113

113114 43983612862 -876414377 -928951016 38730714774 -928951016 36034241

113115 -003 1564117746 58361342

113120 0 0

113210 607924054 607924054

113410 3878040459 3869187038 1313521141 8853421 10653436 1313521141 -222846 -222846

114999 1951449077 -121052867 895956638 -77325459 -77325459 -77325459 -1776001534

114999

114110 3574911794 -104820895 4707340063 -77325459 -77325459 -77325459 -63717943

114120 -3861154401 0 -3861154401 0

114130 2237691684 -1105707775 49770976 -1138822104

115999 54815719765 74663291267 4304547195 0 -14092792061 -4632902 4304547195 411415979 8495799144 8495799144 0 -19605 7017805243 38143 -5484767646 2185645494 20248767469

115999

115199 66995265715 74906400125 362852014 0 -7083216659 362852014 -4229036607 175166667 175166667 -5832954269 684915683 45042787943

115199

115110 -3626714094 4284420316 413415317 -7083216659 413415317 0 -1184618 -19518323 0

115115 0 0 0 0 0 0

115125 0 0 0 0 0

115120 70621979809 70621979809 -50563303 0 -50563303 -4229036607 175166667 175166667 -5714492469 704434006 45042787943

115299 -1217954595 -243108858 3941695181 -7009575402 -4632902 3941695181 8343196397 8320632477 8320632477 0 -19605 7017805243 38143 348186623 1500729811 157444886747

115299

115210 0 2938462478 2579393343 638363074 0 2579393343 835456786 835456786 835456786 0 0 -2500000 0 359069135 0 170827978057

115220 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

115230 -10278762719 -3068950276 -7209812443 -4632902 -6909027 -35223933 -35223933 -19605 72677671 -100437836 1501954811 -11360285357

115240 -977344742 -189498904 575571 -787845838 575571 -4462436 128855 128855 38143 38143 -22497197 -122954753

115250 -1522564464 -1526969621 6474036 4405157 6474036 0 0 0 149981343 -12250 -16822000

115260 787025672 1791747162 1355252231 345314648 0 1355252231 149970875 -2176512

115270

115280 0 0 0 0

115290 -187899697 -187899697 -187899697

149999 129494684268 -35452593 129138895257 -11239407108 -27782082 -27782082 -27782082 1090216354 -76074243

149999

144999 28036207613 28036207613 -10613952582

144999

141999 24062736093 24062736093 -10890518052

141999

141110 24062736091 24062736091 -10890518052

141115 002 002

141150

141180

142999 3979161649 3979161649 27656547

142999

Financial Result




thereof


Interest result -278 -520 (242) (871)




Q4 2019 2020 2019 2020


North America 219 239 93 10474 10965 47

South America 162 149 (78) 2865 2753 (39)

AsiaPacific 1367 1255 (82) 12664 13908 98

Total 2973 2846 (43) 66075 67287 18





Third Parties


2019 2020 2019 2020 2019 2020 2019 2020 2019 2020


Audi 300 335 14348 16710 7906 9243 1271 2518 1271 2456

Skoda 257 253 4995 5043 2402 1912 485 288 485 288

SEAT 151 165 2667 3155 1427 1696 197 -49 197 -49

Bentley 4 4 786 652 539 366 0 72 0 72


VW Com Vehicles 111 95 2717 2684 1062 1196 13 -92 13 -92











thereof





FS Division 10573 10592 9516 9596 986 1223 986 1223









costs 3609 3693 (84) (23)














Total 3039 914 (2125) (699)







Change in financial



03022021 AT




Gross cash flow 5908 10216 4308 729




thereof








Net liquidity 12-31-201912-31-2020 19878 26847 6969 351






Gross cash flow 6774 10635 3861 570




thereof








Net liquidity 12-31-201912-31-2020 21276 26796 5520 259






Total 754 738 (16) (21)

thereof








Argo - -44 (44) x








Financial Result





Interest result -278 -520 (242) (871)






thereof















thereof


Other hedging -332 455 787 x - -332 - 455 787 x



Rental income 36 36 0 02 - 36 - 36 0 02













thereof


Other hedging -332 455 787 x - -332 - 455 787 x



Rental income 36 36 0 02 - 36 - 36 0 02














thereof









thereof



















thereof




















thereof





















euro million 2019 2020 2019 2020

Sales revenue 66015 1000 67398 1000 21 66015 1000 67398 1000 21

Cost of sales -53254 -807 -51780 -768 28 296 -53550 -811 117 -51897 -770 31

Gross profit 12761 193 15617 232 224 12465 189 15500 230 243














euro million 2019 2020 2019 2020

Sales revenue 66015 1000 67398 1000 21 66015 1000 67398 1000 21

Cost of sales1 -53254 -807 -51780 -768 28 296 -53550 sup2 -811 117 -51897 -770 31

Gross profit 12761 193 15617 232 224 12465 189 15500 230 243
















Sales revenue 66015 67398 1383 21



















Sales revenue 66015 67398 1383 21
















Inhaltsverzeichnis

01 Deckblatt



05 GuV


10 Vertriebskosten






21 Cash-Flow Pkw


24 F amp E Kosten




29 Finanzergebnis

Bilanz_GuV_Akt

Bilanz_GuV_Vgl

Bilanz 3112

Cashflow KK GJ

Cashflow KK Vgl

Umsatz Dritte GJ

Umsatz Dritte Vgl

Umsatz Dritte GJ VQ

Absatz MG GJ

Absatz MG Vgl

Absatz Marken GJ

Vorstandscharts


5 Lauf

Key Figures by Brand and Business Field



	Vehicle Sales				Sales Revenue					Sales to					Operating Result						Operating Result

								Third Parties

acute000 vehicleseuro million		Q3		Q4			Q3			Q4			Q3			Q4			Q3			Q4				Q4


	2020		2020			2020			2020			2020			2020			2020			2020				2020			2020



VW Passenger Cars		762		939			18604			23892			8818			10874			522			1218				522			1218

Audi		266		335			12788			16710			7382			9243			864			2456				864			2456

Skoda		224		253			4493			5043			1826			1912			240			288				240			288

SEAT		122		165			2294			3155			1371			1696			-20			-49				-20			-49

Bentley		3		4			537			652			322			366			47			72				47			72

Porsche Vehicles		66		84			6290			8604			5614			7219			740			2137				740			2137

VW Com Vehicles		93		95			2436			2684			1151			1196			-27			-92				-27			-92

Scania Vehicles and Services		18		25			2825			3428			2709			3301			198			329				198			329

MAN Commercial Vehicles		33		38			2792			3377			2592			3154			-38			-171				-38			-171

Power Engineering		-		-			899			891			899			890			45			-335				45			-335

Porsche Hold Salzburg		137		145			5876			6226			5266			5637			248			135				248			135

VW Chinasup1		1040		1115

Other		-51		-207			-5132			-11079			16963			18412			136		sup2		958		sup2			136		sup3	958	sup3

VW Financial Service					10531			10043			9708			9134			477			1171				477			1171

Volkswagen Group before special items													3183			7982				3183			7982

Special items													-			-				-			-

Volkswagen Group		2575		2846			59355			67398			59355			67398			3183			7982				3183			7982

thereof

Automotive Division		2575		2846			48285			56806			49198			57802			2642			6759				2642			6759

of which Passenger Cars		2524		2783			41821			49179			42997			50455			2535			7039				2535			7039

Commercial Vehicles		50		63			5565			6736			5302			6456			115			101				115			101

Power Engineering Business Area		-		-			899			891			899			890			-8			-381				-8			-381

FS Division					11070			10592			10158			9596			541			1223				541			1223


sup1 The sales revenue and operating profit of the joint venture companies in China are not included in the figures for the Group The Chinese companies are

accounted for using the equity method and recorded an operating profit (proportionate) of euro xxx (xxx) million

sup2 Mainly intragroup items recognized in profit or loss in particular from the elimination of intercompany profits and including depreciation and amortization of

identifiable assets as part of the purchase price allocation for Scania Porsche Holding Salzburg MAN and Porsche

Volkswagen Group other operating IncomeExpenses



	Q3		Q4		b(w) prior quarter			Q4					b(w) pq

						Specialitems PY		Specialitems

euro million		2020		2020		absolute				2020		2020		absolute



Total other operating incomeexpenses		-382		97		479	x		-		-382	-		97	479	x



thereof

Foreign currency influences		-183		19		202	x		-		-183	-		19	202	x

Other hedging		178		455		277	x		-		178	-		455	277	x

Futures Commodities		-		-		-	x		-		-	-		-	-	x

Reversal of provisions		114		495		382	x		-		114	-		495	382	x

Rental income		36		36		0	10		-		36	-		36	0	10

Net income from disposalswrite-ups		11		52		41	x		-		11	-		52	41	x

Income from cost allocations		182		259		77	424		-		182	-		259	77	424

Valuation allowances on receivables		-276		-355		(80)	(289)		-		-276	-		-355	(80)	(289)

Other incomeexpenses		-443		-863		(421)	(950)		-		-443	-		-863	(421)	(950)

thereof litigation expenses		-159		-663		(504)	x		-		-159	-		-663	(504)	x

thereof gain of contribution AID to Argo		-		113		113	x		-		-	-		113	113	x



sup1 Incl special items from diesel issue 2019 eurox million 2020 eurox million

sup2 Incl special items from diesel issue 2019 eurox million 2020 eurox million

Volkswagen Group Cost of Sales


	Q3			Q4				b(w) prior quarter					Q4						b(w) pq

									Specialitems PY				Specialitems

euro million		2020		in UE		2020			in UE		absolute		in			2020				2020		absolute



Total cost of sales		48928		499		51780			495		(2852)		(58)		-		48928			-		51780		(2852)		(58)



thereof

Direct material and cost of goods purchased		26420		269		30529			292		(4109)		(156)		-		26420			-		30529		(4109)		(156)

Warranty costs		1248		13		1652			16		(404)		(324)		-		1248			-		1652		(404)		(324)

Personnel expenses		6868		70		7497			72		(628)		(91)		-		6868			-		7497		(628)		(91)

Deferral of fixed costs		247		03		-1376			(13)		1622		x		-		247			-		-1376		1622		x

Material overhead expenses		3727		38		5792			55		(2065)		(554)		-		3727			-		5792		(2065)		(554)

Investment overhead expenses		4067		41		4493			43		(426)		(105)		-		4067			-		4493		(426)		(105)

thereof	Depreciation		3906		40		4233			40		(328)		(84)		-		3906			-		4233		(328)		(84)

Capitalized own research development costs		-1516		(15)		-1912			(18)		396		261		-		-1516			-		-1912		396		261

Cost of sales from Financial Services		8938		91		8518			81		420		47		-		8938			-		8518		420		47

thereof	Residual values vehicles operate lease		4904		50		4404			42		501		102		-		4904			-		4404		501		102

thereof	Interest expenses FS business		531		05		541			05		(9)		(18)		-		531			-		541		(9)		(18)

thereof	Depreciations on rental asset		2411		25		2517			24		(106)		(44)		-		2411			-		2517		(106)		(44)

Services Accounting		-745		(08)		-2385			(23)		1641		x		-		-745			-		-2385		1641		x

Other		-326		(03)		-1027			(10)		701		x		-		-326			-		-1027		701		x



sup1 Incl special items from diesel issue 2019 eurox million 2020 eurox million

sup2 Incl special items from diesel issue 2019 eurox million 2020 eurox million

Volkswagen Group Income Statement



	Q3			Q4			b(w) pq	Q4							b(w) pq

						Specialitems PY			Specialitems

euro million		2020			2020						2020					2020



Sales revenue		59355	1000		67398		1000	135			59355		1000			67398		1000			135

Cost of sales		-48928	-824		-51780		-768	(58)		-		-48928	sup2		-824		-		-51780		-768		(58)



Gross profit		10427	176		15617		232	498			10427		176			15617		232			498

Distribution expenses		-4508	-76		-5547		-82	(231)		-		-4508	sup3		-76		-		-5547		-82		(231)

Administrative expenses		-2354	-40		-2185		-32	72		-		-2354		-40		-		-2185		-32		72

Other operating incomeexpenses		-382	-06		97		01	x		-		-382	⁴		-06		-		97		01		x



Operating profit		3183	54		7982		118	x			3183		54			7982		118			x

Share of profloss of equ-acc invest		855	14		738		11	(137)		-		855		14		-		738		11		(137)

Interest resultOther fin result		-432	-07		693		10	x		-		-432		-07		-		693		10		x

Financial result		423	07		1431		21	x		-		423		07		-		1431		21		x



Profit before tax		3606	61		9413		140	x			3606		61			9413		140			x

Income tax expense		-856	-14		-2320		-34	x

Profit after tax		2751	46		7093		105	x



sup1 Incl special items from diesel issue 2019 eurox million 2020 eurox million

sup2 Incl special items from diesel issue 2019 eurox million 2020 eurox million

Volkswagen Group Key Financial Figures



	Q3		Q4		b(w) prior quarter


euro million		2020		2020		absolute



Sales revenue		59355		67398		8042	135

Operating profit before special items		3183		7982		4799	x

as of sales revenue		54		118			65	sup1

Special itemssup2		-		-		-	x

Operating profit		3183		7982		4799	x

as of sales revenue		54		118			65	sup1

Financial result		423		1431		1008	x

Profit before tax before special items		3606		9413		5807	x

as of sales revenue		61		140			79	sup1

Profit before tax		3606		9413		5807	x

as of sales revenue		61		140			79	sup1

Income tax expense		-856		-2320		(1464)	x

Tax rate in		237		246			(09)	sup1

Profit after tax		2751		7093		4343	x


sup1 Percentage points

sup2 Incl special items from diesel issue 2019 eurox million 2020 eurox million

Schluumlssel		3000GJ Aktuell		3010GJ Aktuell		3021GJ Aktuell		3022GJ Aktuell		3023GJ Aktuell		3280GJ Aktuell		3030GJ Aktuell		3035GJ Aktuell		3027GJ Aktuell		3200GJ Aktuell		3210GJ Aktuell		3205GJ Aktuell		3270GJ Aktuell		3272GJ Aktuell		3340GJ Aktuell		3320GJ Aktuell		3325GJ Aktuell		3361GJ Aktuell		3415GJ Aktuell		3160GJ Aktuell		3330GJ Aktuell

	GJ Aktuell		GJ Aktuell		GJ Aktuell		GJ Aktuell		GJ Aktuell		GJ Aktuell		GJ Aktuell		GJ Aktuell		GJ Aktuell		GJ Aktuell		GJ Aktuell		GJ Aktuell		GJ Aktuell		GJ Aktuell		GJ Aktuell		GJ Aktuell		GJ Aktuell		GJ Aktuell		GJ Aktuell		GJ Aktuell		GJ Aktuell

Position		3000		3010		3021		3022		3023		3280		3030		3035		3027		3200		3210		3205		3270		3272		3340		3320		3325		3361		3415		3160		3330

Gesamtergebnis		0		0		0		0			0		0		0		0		0		0		0			0		0		0		0		0		0		0

IB9999		0		0		0		0			0		0		0		0		0		0		0			0		0		0		0		0		0		0

299999		-436507758823		-45129364845		12419261221		0			-10635442015		-23072997805		6417339959		8336140485		-482769505002		-360905616744		-387995784154			-44554859665		-4262837325		-46376905702		-87849327348		-23503890829		-20557638019		1047811877419

299999

199999		412196456951		25711908174		249140985		0			2108693579		163456413199		-12479000498		20830977763		35974639744		-8632063388		4230395449			12643673581		-2952633834		53740778213		496534942		-3416238		35792730168		222228211731

199999

111999		87918650522		78301517505		5510315369				17788913326		1225415175		-15421894		1606556112		16401943839		1113758199		3479417537			2365659338		-3159342918		41242233823		31052376		3286699911		21037791299		-384613825

111999

111199		-1842676415		-1776296573		1016133625				31487		-66379842		1243852		-379751		-815181799		-721314419		-721339265			-24846			2960969865		-250225		-1069590363		3546580332		-381290201

111199

111110		169114321		198850219		-379751				7884		-29735898		1243852		-379751		353385203		345603839		345578993			-24846			84685269		-250225		19435617		-7304839		-381290201

111115		2762671932		2762671932									-106292829		-106292829		-106292829					2876284596				-7319835

111116

111120		-3754885315		-3739578019		0					-15307296												-672833

111130		-2001136713		-2001136713					3140816					-1062274173		-960625429		-960625429							-12632737		3570028328

111140		98155936		1002896008		1016513376					-21336648													-8823322

111150		0		0															0		0

111299		2500260528		2553495186		3118700291					-53234658			189210194		-8662238			-42909474			-42909474			-103015459		-103015459

111299

111210		2500260528		2553495186		3118700291					-53234658			189210194		-8662238			-42909474			-42909474			-103015459		-103015459

111399		48886092075		40494374233		156102462				6323884952				156102462		3637994005		-452273529		194128791			2393561439		-3136915382		34379404531			1447334863		5084923382

111399

111310		41893304229		33501586387		-1055297774				7911411795				-1055297774		-152661596		-1822880246		-237194767			1585685479		-7046789765		33208597616			9754838893		9960708261

111320		6992787846		6992787846		1211400236				-1587526843				1211400236		5164609965		1370606717		2178482677			80787596		3909874383		1170806915			-830750403		-4875784879

111330

111499		38374974334		37029944659		-185543167				11461879674		1345029675		-16665746		-143298951		13665754013		2287346147		2302378366			15032219		-22427536		4004874886		413789444		2908955411		12406287585		-3323624

111499

111410		21976128676		21617032746		-143298951				86544508		35909593		-16665746		-143298951		604430169		123805685		141480437			17674752		-22427536		351761694		273698912		4291896545		12249239943		-3323624

111420		1375409231		131265743		0					1244143488			0		263486		263486		263486							57408346		940409

111430		1507544118		15333650923					11375335166		-258209743				13058688984		2160905602		2158263069			-2642533			3653113192		140090532		-144034948		63006742

111440

111441

111470		0

111480		-52004753		-52004753		-42244216														0		0

112999		99667678855		99975771182		9864719694				2326593494		-4990869802		-27303196		9685358214		46004214018		16372446085		2517728787			8792195388		-205630844		6213220273		-45526088		31398203179		-5987408857		-116999887

112999

112110		39604787894		34845333036		3530626918				471096937		-1015211826		-176545		3351265438		1019122233		-592793325		718337646			7776169785		23018723		49525828		-126680899		21233470103		594492516		951410319

112120		15708324054		16637058091		2021158712				-54600738		-276824605		-10646249		2021158712		10816091619		9009350431		10047470521			103150351		-7698206		4889557075		-144008696		2482954697		-1390886179		-113691109

112299		46283638097		46263933895		-110662673				12680891261		19664019			-110662673		31207643387		-1173697413		12155569045			13329266458		131404449		-78983844		20825056		9341400239		358570436		1183145839

112299

112210		4634605751		46326393491		-118416496				12683657884		19664019			-118416496		31261237153		-112305042		12206268986			13329319406		131404449		1346452		20825056		9348195791		369418697		1183156019

112220		-62419413		-62459596		7753823				-2766623				7753823		-53593766		-50646993		-50699941			-52948			-92448364			-6795552		-10848261		-1018

112399		81912262326		82182178053		2234477667				15646492393		170104233		-14891497		2234477667		42724472379		9139608189		12241398072			3101789883		-35235581		2073950496		203533493		12993568591		16401052427		-375567877

112399

112310		13871433627		13464837716		1481389494				3569979339		150640456		-7882703		1481389494		6192981955		1053164444		2347170929			1294006485		16856116		1399430634		212595661		1847078642		1308455688		-78523114

112320		67139559892		67139559892		461164782				11821389749				461164782		3526297616		6778630028		8818557468			203992744		-361851837		846626434			9657784362		14901390587

112330		901577031		1578088669		291923391				255123305		19463777		-7008794		291923391		1268514264		1307813717		1075669675			-232144042		-7360089		-17203205		-8987646		1488705587		191206152		-297044763

112340		-308224		-308224															-74522		-74522

112410		-83841333516		-79952731893		218911907				-26417286359		-3888601623			218911907		-48935215697		-10021797		-16450526228			-16446534248			-720829282		804958		-14653190451		-21950638057		-1762297059

113999		47880745306		2857656824		388218702					45594491585		69014778		388218702		98595252							6883178		6883178			36034241		-26148

113999

113110		-371588304		119664462		3664126					4649211212			3664126		98595252							9111638		9111638

113111		-25476475		-25476475		0							0												-26148

113112		37520988		-15549		-15549					33670378			-15549

113113

113114		43983612862		-876414377		-928951016					38730714774			-928951016											36034241

113115		-003							1564117746		58361342

113120		0							0

113210		607924054							607924054

113410		3878040459		3869187038		1313521141					8853421		10653436		1313521141								-222846		-222846

114999		1951449077		-121052867						895956638				-77325459		-77325459		-77325459								-1776001534

114999

114110		3574911794		-104820895						4707340063				-77325459		-77325459		-77325459								-63717943

114120		-3861154401		0						-3861154401													0

114130		2237691684		-1105707775						49770976													-1138822104

115999		54815719765		74663291267		4304547195				0		-14092792061		-4632902		4304547195		411415979		8495799144		8495799144			0		-19605		7017805243		38143		-5484767646		2185645494		20248767469

115999

115199		66995265715		74906400125		362852014				0		-7083216659			362852014		-4229036607		175166667		175166667							-5832954269		684915683		45042787943

115199

115110		-3626714094		4284420316		413415317					-7083216659			413415317		0									-1184618		-19518323		0

115115		0		0		0							0		0											0

115125		0		0		0							0												0

115120		70621979809		70621979809		-50563303				0				-50563303		-4229036607		175166667		175166667							-5714492469		704434006		45042787943

115299		-1217954595		-243108858		3941695181					-7009575402		-4632902		3941695181		8343196397		8320632477		8320632477			0		-19605		7017805243		38143		348186623		1500729811		157444886747

115299

115210		0		2938462478		2579393343					638363074		0		2579393343		835456786		835456786		835456786			0		0		-2500000		0		359069135		0		170827978057

115220		0		0		0					0		0		0		0		0		0			0		0		0		0		0		0

115230		-10278762719		-3068950276						-7209812443		-4632902			-6909027		-35223933		-35223933				-19605		72677671			-100437836		1501954811		-11360285357

115240		-977344742		-189498904		575571					-787845838			575571		-4462436		128855		128855					38143		38143		-22497197			-122954753

115250		-1522564464		-1526969621		6474036					4405157			6474036		0		0		0							149981343		-12250		-16822000

115260		787025672		1791747162		1355252231					345314648		0		1355252231										149970875			-2176512

115270

115280		0		0						0														0

115290		-187899697		-187899697																	-187899697

149999		129494684268		-35452593						129138895257		-11239407108			-27782082		-27782082		-27782082								1090216354		-76074243

149999

144999		28036207613							28036207613		-10613952582

144999

141999		24062736093							24062736093		-10890518052

141999

141110		24062736091							24062736091		-10890518052

141115		002							002

141150

141180

142999		3979161649							3979161649		27656547

142999

Key Figures by Market



acute000 vehicleseuro million	Vehicle Sales		Sales Revenue


Q4	2020	2020		2020	2020



EuropeRem markets	1082	1203	112	36187	39661	96

North America	205	239	166	9915	10965	106

South America	139	149	71	2175	2753	266

AsiaPacific	1148	1255	93	11113	13908	251



Total	2575	2846	105	59390	67287	133

Hedges sales revenue	-	-	x	-35	111	x



Volkswagen Group	2575	2846	105	59355	67398	135

Research and Development Costs



		Q3			Q4			b(w) prior quarter


euro million		0		2020			2020			absolute



	Total research and development

	costs		3496			3693			(197)		(56)

	- as of sales revenuesup1		72			65					07		sup2


		Capitalized development costs		1531			1991			460		300

	as of total expense		438			539					101		sup2


+		Amortization of capitalized

	development costs		1139			1281			(142)		(124)



=		Research and development costs

	recognized in the income statement		3104			2983			121		39

	- as of sales revenuesup1		64			53					12		sup2


sup1 Automotive Division

sup2 Percentage points

Automotive Division Change in Working Capitalsup1



		Q3			Q4		b(w) prior quarter


euro million			2020			2020		absolute	in



Total			3981			914		(3066)	(770)



	Change in inventories		1379			272		(1108)	(803)

	Change in receivables		-930			1828		2758	x

	Change in liabilities		2907			-2338		(5245)	x

	Change in other provisions		715			1195		480	671

	Change in leasing and rental assets

	(excluding depreciation)		23			-135		(159)	x

	Change in financial

	services receivables		-115			92		207	x


sup1 Including allocation of consolidation adjustments between the Automotive and Financial Services divisions


				gepruumlft am 03022021 AT

Key Financial Figures Passenger Cars Divisionsup1



		Q3			Q4			b(w) prior quarter


euro million			2020			2020			absolute		in



	Gross cash flow		5454			10216			4762		873

+		Change in working capital		4199			-344			(4542)		x

=		Cash flows from operating activities		9652			9872			220		23



Cash flows from investing activities			-3684			-5944			(2259)		(613)

thereof

	Invest in property plant and equipment		-2096			-4224			(2128)		x

	ndash as of sales revenue		50			86					(36)

	Add to capitalized development costs		-1483			-1885			(402)		(271)

	Acquisition and disposal of equity invest		-168			64			231		x



Net cash flow			5968			3929			(2040)		(342)



Capital contributions FS divisions CV PE			-			-23			(23)		x



Acquisitions of shares of minorities			-			-237			(237)		x



Net liquidity 09-30-202012-31-2020			25608			26847			1239		48

Net liquidity 12-31-201912-31-2020			19878			26847			6969		351


sup1 Including allocation of consolidation adjustments between the Automotive Division and Commercial Vehicles Power Engineering





				03022021 gepruumlft AT

Key Financial Figures Automotive Divisionsup1



		Q3			Q4			b(w) prior quarter


euro million			2020			2020			absolute		in



	Gross cash flow		6182			10635			4453		720

+		Change in working capital		3981			914			(3066)		(770)

=		Cash flows from operating activities		10162			11549			1387		136



Cash flows from investing activities			-3938			-6610			(2672)		(679)

thereof

	Invest in property plant and equipment		-2292			-4643			(2350)		x

	ndash as of sales revenue		47			82					(34)

	Add to capitalized development costs		-1531			-1991			(460)		(300)

	Acquisition and disposal of equity invest		-184			-92			92		500



Net cash flow			6224			4939			(1285)		(206)



Capital contributions FS divisions			-			-23			(23)		x



Acquisitions of shares of minorities			-			-237			(237)		x



Net liquidity 09-30-202012-31-2020			24848			26796			1949		78

Net liquidity 12-31-201912-31-2020			21276			26796			5520		259


sup1 Including allocation of consolidation adjustments between the Automotive and Financial Services divisions





				03022021 gepruumlft AT

Share of the result of equity-accounted investments



	Q3		Q4		b(w) prior quarter


euro million		2020		2020		absolute	in



Total		855		738		(117)	(137)



thereof

SAIC-Volkswagen Groupsup1		385		197		(188)	(489)

FAW-Volkswagen		456		441		(15)	(34)

Other Chinese Companiessup2		97		232		135	x

Sinotruk (Hong Kong) Ltd		86		3		(83)	(962)

There Holding		-7		-1		6	878

Rheinmetall M V		1		4		3	x

Mobility Trader Holding Ltd		-127		-37		90	706

Argo		-34		-44		(10)	(281)

Navistar		-10		-34		(24)	x

Northvoltsup3		-15		-21		(6)	(408)

Elimination of unrealized profit		38		-57		(95)	x




sup1 SAIC-Volkswagen Autom Comp Ltd und SAIC-Volkswagen Sales Company Ltd Shanghai incl consolidation effects

sup2 Volkswagen FAW Engine Co Ltd Shanghai VW Powertrain VW-FAW Platform Company Ltd Volkswagen (Anhui) Automotive (former JAC VW Automotive)

MOS Intelligent Connectivity Technology Co Ltd Anhui Jianghuai Automobile Group Holdings Ltd

sup3 Northvolt Zwei Verwaltungs-GmbH Northvolt Zwei GmbH amp Co KG NorthVolt AB

Volkswagen Group other operating IncomeExpenses

before special items


	Q3		Q4		b(w) prior quarter			Q3				Q4			b(w) pq

						Specialitems PY		Specialitems

euro million		2020		2020		absolute				2020			2020		absolute



Total other operating incomeexpenses		-382		97		479	x		-		-382		-362		458	841	x



thereof

Foreign currency influences		-183		19		202	x		-		-183		-		19	202	x

Other hedging		178		455		277	x		-		178		-		455	277	x

Futures Commodities		-		-		-	x		-		-		-		-	-	x

Reversal of provisions		114		495		382	x		-		114		-7		502	389	x

Rental income		36		36		0	10		-		36		-		36	0	10

Net income from disposalswrite-ups		11		52		41	x		-		11		-		52	41	x

Income from cost allocations		182		259		77	424		-		182		-		259	77	424

Valuation allowances on receivables		-276		-355		(80)	(289)		-		-276		-		-355	(80)	(289)

Other incomeexpenses		-443		-863		(421)	(950)		-		-443		-355		-509	(66)	(149)

thereof litigation expenses		-159		-663		(504)	x		-		-159		-353		-310	(151)	(953)

thereof Other expenses-Labour costs from restructuring							-22			-316		(294)		x

thereof gain of contribution AID to Argo		-		113		113	x		-		-		-		-	-	x

Volkswagen Group Administrative Expenses



	Q3		Q4		b(w) prior quarter


euro million		2020		2020		absolute



Total administrative expenses		2354		2185		169	72



thereof

Personnel costs		1383		1413		(30)	(21)

Material overhead expenses		1007		1253		(246)	(245)

Other administrative expenses		-36		-481		445	x

thereof DepreciationInvest overh exp		183		221		(38)	(209)

Volkswagen Group Distribution Expenses



		Q3			Q4			b(w) prior quarter


euro million			2020			2020			absolute		in



Total distribution expenses			4508			5547			(1039)		(231)



thereof

Personnel costs			1290			1351			(62)		(48)

Sales Expenses			1229			1861			(632)		(514)

thereof		Incentives		160			142			18		111

	Advertising and sales promotion		997			1701		sup2		(704)		(707)

Material overhead expenses			745			1182			(437)		(587)

Other distribution costs			1244			1153		sup3		92		74

thereof		Deferral of fixed costs in sales orga		78			-329			407		x

	DepreciationInvest overhead expenses		196			290			(94)		(478)

	Other direct costs of sale		354			358			(4)		(10)

	Freight-out packaging-shipping costs		456			603			(148)		(324)



sup2 incl Loyalty Program euro XXX million

sup3 incl indirect residual value risks dealer incentives euro XXX million

	Inhaltsverzeichnis

	01 Deckblatt

	02 Inhaltsverzeichnis

	03 Wesent Finanzzahlen VW

	05 GuV

	09 Kosten der Umsatzerloumlse

	10 Vertriebskosten

	11 Verwaltungskosten

	12 Sonstiges betr Ergebnis

	13 Finanzergebnis lang

	14 At Equity Ergebnis

	20 Cash-Flow Automobile

	21 Cash-Flow Pkw

	22 Working Capital Automobile

	24 F amp E Kosten

	25 Umsatzerloumlse Vorjahresquart

	25 Umsatzerloumlse Vorquartal

	26 Umsatzerloumlse nach Maumlrkten

	29 Finanzergebnis

	Bilanz_GuV_Akt

	Bilanz_GuV_Vgl

	Bilanz 3112

	Cashflow KK GJ

	Cashflow KK Vgl

	Umsatz Dritte GJ

	Umsatz Dritte Vgl

	Umsatz Dritte GJ VQ

	Absatz MG GJ

	Absatz MG Vgl

	Absatz Marken GJ

Volkswagen Group other operating IncomeExpenses



	Q4		Q4		b(w) prior year			Q4					b(w) py

						Specialitems PY		Specialitems

euro million		2019		2020		absolute				2019		2020		absolute



Total other operating incomeexpenses		-524		97		621	x		-		-524	-		97	621	x



thereof

Foreign currency influences		-29		19		48	x		-		-29	-		19	48	x

Other hedging		-332		455		787	x		-		-332	-		455	787	x

Futures Commodities		-		-		-	x		-		-	-		-	-	x

Reversal of provisions		412		495		83	203		-		412	-		495	83	203

Rental income		36		36		0	02		-		36	-		36	0	02

Net income from disposalswrite-ups		909		52		(857)	(943)		-		909	-		52	(857)	(943)

Income from cost allocations		334		259		(75)	(224)		-		334	-		259	(75)	(224)

Valuation allowances on receivables		-25		-355		(330)	x		-		-25	-		-355	(330)	x

Other incomeexpenses		-1828		-863		965	528		-		-1828	-		-863	965	528

thereof litigation expenses		-2066		-663		1403	679		-		-2066	-		-663	1403	679

thereof gain of contribution AID to Argo		2		113		111	x		-		2	-		113	111	x



sup1 Incl special items from diesel issue 2019 eurox million 2020 eurox million

sup2 Incl special items from diesel issue 2019 eurox million 2020 eurox million

Volkswagen Group other operating IncomeExpenses



	January - December			b(w) prior year			January - December					b(w) py

					Specialitems PY			Specialitems

euro million		2019	2020			absolute				2019		2020	absolut



Total other operating incomeexpenses		-1437	-1466			(29)	(20)		-		-1437	-	-1466	(29)	(20)



thereof

Foreign currency influences		23	-383			(406)	x		-		23	-	-383	(406)	x

Other hedging		-155	-97			58	373		-		-155	-	-97	58	373

Futures Commodities		-	-			-	x		-		-	-	-	-	x

Reversal of provisions		969	1086			117	121		-		969	-	1086	117	121

Rental income		161	145			(16)	(100)		-		161	-	145	(16)	(100)

Net income from disposalswrite-ups		1063	87			(976)	(918)		-		1063	-	87	(976)	(918)

Income from cost allocations		920	609			(311)	(338)		-		920	-	609	(311)	(338)

Valuation allowances on receivables		-618	-1284			(667)	x		-		-618	-	-1284	(667)	x

Other incomeexpenses		-3800	-1628			2172	572		-		-3800	-	-1628	2172	572

thereof litigation expenses		-3715	-1887			1828	492		-		-3715	-	-1887	1828	492

thereof Other expenses-Labour costs from restructuring		-54	-391			(337)	x

thereof gain of contribution AID to Argo		-	833			833	x		-		2	-	946	944	x



sup1 Incl special items from diesel issue 2019 eurox million 2020 eurox million

sup2 Incl special items from diesel issue 2019 eurox million 2020 eurox million

Dividend decisions of joint venturessup1



		January - December				b(w) prior year


euro million			2019		2020		absolute	in



FAW-Volkswagen			1393		1368		(25)	(18)

SAIC-Volkswagen			1808		1284		(525)	(290)

SAIC-Volkswagen Sales Company			153		149		(4)	(24)

Shanghai VW Powertrain			115		64		(52)	(447)

VW Pon Financial Services BV			12		12		-	00

IAV			-		-		-	x

PZ Auto doo			-		-		-	x

VW FAW Engine			229		279		50	219

VW-FAW Platform Company			5		-		(5)	x

VW Transmission (Shanghai)			-		-		-	x

Cummis-Scania XPI Manufacturing LLC			-		-		-	x

Oppland Tungbilservice AS			0		0		(0)	(48)

Tynset Diesel AS Tynset			0		0		0	61



Total			3715		3155		(560)	(151)

	thereof received		3714		3155		(559)	(150)

	thereof outstanding		2		-		(2)	x


sup1 The changes of the equity investment carrying amounts are represented due to the dividend decisions


				gepruumlft

				CZ 08022021

Inventories



		12-31-		12-31-		b(w) prior year


euro million			2019		2020		absolute	in



Total			46742		43823		2919	62



	Raw materials and supplies		6099		6966		(867)	(142)

	WorkService in progress		4110		4022		88	21

	Finished goods and products		30617		27204		3413	111

	Rental and leasing business		5699		5337		362	64

	Payments on account for inventories		222		288		(66)	(295)

	Hedges on inventories		-6		6		(12)	x

volkswagen group key volume figures

Documents

01 Deckblatt

02 Inhaltsverzeichnis

03 Wesent Finanzzahlen VW SE

03 Wesent Finanzzahlen VW SE2

05 GuV SE

05 GuV SE2

09 Kosten der Umsatzerloumlse SE

09 Kosten der Umsatzerloumlse SE2

10 Vertriebskosten

11 Verwaltungskosten

12 Sonstiges betr Ergebni SE

12 Sonstiges betr Ergebni SE2

13 Finanzergebnis lang

14 At Equity Ergebnis

20 Cash-Flow Automobile

21 Cash-Flow Pkw

22 Working Capital Automobile

24 F amp E Kosten

25 Umsatzerloumlse Vorjahresq SE

26 Umsatzerloumlse nach Maumlrkten

29 Finanzergebnis

Bilanz_GuV_Akt

03 Wesent Finanzzahlen VW

05 GuV

09 Kosten der Umsatzerloumlse

12 Sonstiges betr Ergebnis

25 Umsatzerloumlse Vorjahresquart

image1wmf

image2emf

image3png

01 Deckblatt

02 Inhaltsverzeichnis

03 Wesent Finanzzahlen VW SE

03 Wesent Finanzzahlen VW SE2

05 GuV SE

05 GuV SE2

09 Kosten der Umsatzerloumlse SE

09 Kosten der Umsatzerloumlse SE2

10 Vertriebskosten

11 Verwaltungskosten

12 Sonstiges betr Ergebni SE

12 Sonstiges betr Ergebni SE2

13 Finanzergebnis lang

14 At Equity Ergebnis

20 Cash-Flow Automobile

21 Cash-Flow Pkw

22 Working Capital Automobile

24 F amp E Kosten

25 Umsatzerloumlse Vorjahresq SE

26 Umsatzerloumlse nach Maumlrkten

29 Finanzergebnis

Bilanz_GuV_Akt

03 Wesent Finanzzahlen VW

05 GuV

09 Kosten der Umsatzerloumlse

12 Sonstiges betr Ergebnis

25 Umsatzerloumlse Vorjahresquart

image1wmf

image2emf

image3png

01 Deckblatt

02 Inhaltsverzeichnis

03 Wesent Finanzzahlen VW SE

03 Wesent Finanzzahlen VW SE2

05 GuV SE

05 GuV SE2

09 Kosten der Umsatzerloumlse SE

09 Kosten der Umsatzerloumlse SE2

10 Vertriebskosten

11 Verwaltungskosten

12 Sonstiges betr Ergebni SE

12 Sonstiges betr Ergebni SE2

13 Finanzergebnis lang

14 At Equity Ergebnis

20 Cash-Flow Automobile

21 Cash-Flow Pkw

22 Working Capital Automobile

24 F amp E Kosten

Balance Sheet by Division - Equity and Liabilities


		Passenger Carssup1				Comm Veh				PE


		12-31-		12-31-			12-31-		12-31-		12-31-		12-31-


euro million			2019		2020			2019		2020		2019		2020



Equity			75773		81423			14115		13389		2885		1922

	Attributable to shareh		74879		80590			13808		13119		2848		1918

	Noncontrolling interests		895		834			307		270		37		4

	Equity attributable to hybrid capital owner of VW AG		12663		15713			-		-		-		-

	Equity attributable to shareholders of VW AG		74879		80590			13808		13119		2848		1918

Noncurrent liabilities			78679		82263			11367		10592		777		668

	Noncurrent fin liabilities		16251		14269			1180		1226		160		141

	Other nonc liabilities		3937		5722			7203		6246		435		328

	Provisions for pensions		38753		42257			1759		1817		119		133

	Other nonc provisions		19738		20015			1224		1303		63		66

Current liabilities			47394		49731			13081		12052		2746		2057

	Current fin liabilities		-10522		-5495			2460		2502		749		186

	Trade payables		16495		16156			2453		2753		655		630

	Other current liabilities		18812		18391			7294		5819		686		699

	Other current provisions		22583		20679			873		978		311		541

	Held for Sale		26		-			-		-		344		-


Total equity and liabilities			201846		213417			38563		36033		6408		4647


sup1 Passenger Cars = Automotive Division Commercial Vehicles Power Engineering

Balance Sheet by Division - Assets


		Passenger Carssup1				Comm Veh				PE


		12-31-		12-31-			12-31-		12-31-		12-31-		12-31-


euro million			2019		2020			2019		2020		2019		2020



Noncurrent assets			126387		130237			25143		24777		2206		1847

	Intangible assets		56813		58823			7907		7969		1290		990

	Property plant amp equip		57214		54913			7032		7131		797		763

	Leasing and rental assets		-5025		-4968			7106		6480		3		-

	Equity accounted invest		6232		8129			1118		1135		34		29

	FS receivables		-397		-381			7		4		-		-

	Other		11550		13721			1973		2059		82		65

Current assets			75459		83180			13420		11256		4202		2800

	Inventories		35509		33313			4948		4329		1441		1413

	FS receivables		-643		-560			3		3		-		-

	Receivables and other financial assets		13190		12694			3438		3178		1174		1140

	Marketable securities		10368		15398			3178		2105		-		-

	Cash cash equivalents		17019		22334			1853		1641		807		247

	Held for Sale		16		-			-		-		779		-


Total assets			201846		213417			38563		36033		6408		4647


sup1 Passenger Cars = Automotive Division Commercial Vehicles Power Engineering

Balance Sheet by Division - Equity and Liabilities


		VW Group				Automotivesup1				Financial Services


		12-31-		12-31-			12-31-		12-31-		12-31-		12-31-


euro million			2019		2020			2019		2020		2019		2020



Equity			123651		128783			92774		96733		30877		32050

	Attributable to shareh		121781		127049			91535		95626		30246		31423

	Noncontrolling interests		1870		1734			1239		1107		631		627

	Equity attributable to hybrid capital owner of VW AG		12663		15713			12663		15713		-		-

	Equity attributable to shareholders of VW AG		121781		127049			91535		95626		30246		31423

Noncurrent liabilities			196497		202921			90822		93523		105675		109398

	Noncurrent fin liabilities		113556		114809			17592		15637		95965		99173

	Other nonc liabilities		19769		20344			11575		12295		8194		8048

	Provisions for pensions		41389		45081			40631		44207		759		874

	Other nonc provisions		21783		22688			21025		21384		757		1304

Current liabilities			167924		165410			63220		63840		104703		101569

	Current fin liabilities		87912		88648			-7312		-2806		95224		91454

	Trade payables		22745		22677			19603		19539		3142		3137

	Other current liabilities		32462		31122			26792		24909		5669		6212

	Other current provisions		24434		22964			23766		22198		668		766

	Held for Sale		370		-			370		-		-		-


Total equity and liabilities			488071		497114			246816		254097		241255		243017


sup1 Automotive Division = Volkswagen Group Financial Services

Volkswagen Group Balance Sheet


Assets		12-31-		12-31-			12-31-			12-31-		Equity and Liabilities			12-31-			12-31-			12-31-			12-31-


euro million		2019		2020			Specialitems			2020		euro million			2019			2020			Specialitems			2020



Noncurrent assets		300608		302170					302170		Equity			123651			128783					128783

	Intangible assets	66214		67968			-			67968			Attributable to shareh		121781			127049			-			127049

	Property plant amp equip	66152		63884			-			63884			Noncontrolling interests		1870			1734			-			1734

	Leasing and rental assets	48938		50686			-			50686		Noncurrent liabilities			196497			202921					202921

	Equity accounted invest	8169		10080			-			10080			Noncurrent fin liabilities		113556			114809			-			114809

	FS receivables	86973		82565			-			82565			Other nonc liabilities		19769			20344			-			20344

	Other	24162		26987			-			26987			Provisions for pensions		41389			45081			-			45081

Current assets		187463		194944					194944			Other nonc provisions		21783			22688			-			22688

	Inventories	46742		43823			-			43823		Current liabilities			167924			165410					165410

	FS receivables	58615		58006			-			58006			Current fin liabilities		87912			88648			-			88648

	Receivables and otherfinancial assets	38620				-			-			Trade payables		22745			22677			-			22677

			38044		-			38044			Other current liabilities		32462			31122			-			31122

	Marketable securities	16769		21162			-			21162			Other current provisions		24434			22964			-			22964

	Cash cash equivalents	25923		33909			-			33909			Held for Sale		370			-			-			589999

	Held for Sale	795		-			795			-


Total assets		488071		497114					497114		Total equity and liabilities			488071			497114					497114

Income Statement by Division


	Passenger Carssup1			Comm Veh			PE


	Jan - Dec			Jan - Dec			Jan - Dec


euro million		2019	2020	absolute		2019		2020	absolute		2019	2020	absolute



Sales revenue		182031	156311	-25720	-141	26444		22156	-4289	-162	3997	3640	-357	-89

Cost of sales		-145606	-128278	17328	119	-21516		-19023	2492	116	-3355	-3206	149	44



Gross profit		36425	28033	-8392	-230	4929		3132	-1796	-364	642	434	-208	-324

Distribution expenses		-16767	-14606	2161	129	-2388		-2149	239	100	-557	-511	46	82

Administrative expenses		-6347	-6081	266	42	-975		-878	97	100	-201	-189	12	59

Other oper income		8409	9102	693	82	660		676	16	25	103	104	2	16

Other oper expense		-9532	-9224	308	32	-572		-860	-288	-503	-80	-320	-240	x

Other oper incomeexpense		-1124	-122	1001	891	87		-184	-272	x	23	-215	-238	x


Operating profit		12188	7224	-4964	-407	1653		-79	-1732	x	-93	-482	-389	x

Share profloss equ-acc in		3053	2615	-438	-143	225		85	-140	-622	-1	-3	-3	x

Interest resultOther fin result		-1819	-297	1522	837	-70		-170	-100	x	1	-2	-3	x

Financial result		1233	2317	1084	879	155		-85	-240	x	0	-5	-6	x



Profit before tax		13421	9541	-3880	-289	1808		-163	-1971	x	-92	-487	-394	x

Income tax expense		-3175	-2331	844	266	-335		-44	290	868	19	147	128	x

Profit after tax		10246	7211	-3036	-296	1473		-208	-1681	x	-73	-340	-267	x

of which attributable to

Non controlling interests		3845	2331	-1514	-394	-335		44	379	x	-19	-147	-128	x

Volkswagen AG hybrid capital investors		3845	2331	-1514	-394	-335		44	379	x	-19	-147	-128	x

Volkswagen AG shareholders		2557	2549	-8	-03	-		-296	-2439	NV	-35	-46	-12	-336


sup1 Passenger Cars = Automotive Division Commercial Vehicles Power Engineering

Volkswagen Group Income Statement



	December				b(w) py


euro million		2019		2020



Sales revenue		21517	1000	22769		1000	58

Cost of sales		-17112	-795	-17126		-752	(01)



Gross profit		4405	205	5643		248	281

Distribution expenses		-2222	-103	-1976		-87	111

Administrative expenses		-1021	-47	-455		-20	555

Other operating incomeexpense		-1684	-78	-267		-12	842



Operating profit		-522	-24	2945		129	x

Share of profloss of equ-acc invest		94	04	227		10	x

Interest resultOther fin result		-14	-01	19		01	x

Financial result		80	04	246		11	x



Profit before tax		-442	-21	3191		140	x

Income tax expense		148	07	-876		-38	x

Profit after tax		-295	-14	2315		102	x

Volkswagen Group other operating IncomeExpenses

before special items


	1 Quartal		2 Quartal		b(s) Vorjahr					Q1			2 Quartal		Q2		b(w) prior year

						Sonder-einfluumlsse VJ				Sonder-einfluumlsse

euro million		2020		2020		absolut						2020				2020		absolute			b(s) Vj



Total other operating incomeexpenses		-1409		229		1639		x			-		-1409			-641		870		2279		x



thereof

Foreign currency influences		-383		163		546		x			-		-383			-		163		546		x

Other hedging		-944		214		1159		x			-		-944			-		214		1159		x

Futures Commodities		-		-		-		x			-		-			-		-		-		x

Reversal of provisions		185		293		108		585			-		185			93		200		15		81

Rental income		36		37		1		28			-		36			-		37		1		28

Net income from disposalswrite-ups		28		-3		(31)		x			-		28			-		-3		(31)		x

Income from cost allocations		56		112		56		996			-		56			-		112		56		996

Valuation allowances on receivables		-266		-388		(122)		(459)			-		-266			-		-388		(122)		(459)

Other incomeexpenses		-122		-199		(78)		(637)			-		-122			-734		534		656		x

thereof litigation expenses		-191		-875		(684)		x			-		-191			-734		-141		50		263

thereof Gain of contribution AID to Argo							-		-			-		833		833			x

Wesentliche Finanzzahlen Volkswagen Konzern



	Q1		Q2		b(w) prior year


euro million		2020		2020		absolute



Sales revenue		55054		41076		(13978)	(254)

Operating profit before special items		904		-1707		(2611)	x

as of sales revenue		16		-42			(58)	sup1

Special itemssup2		-		-687		(687)	x

Operating profitsup2		904		-2394		(3298)	x

as of sales revenue		16		-58			(75)	sup1

Financial result		-222		360		583	x

Profit before tax before special items		682		-1347		(2029)	x

as of sales revenue		12		-33			(45)	sup1

Profit before tax		682		-2034		(2715)	x

as of sales revenue		12		-50			(62)	sup1

Income tax expense		-165		498		663	x

Tax rate in		242		245			(03)	sup1

Profit after tax		517		-1536		(2053)	x


sup1 Percentage points

sup2 Incl special items from Diesel issue Q2 euro-687 million