Business Development
(Condensed, in accordance with the German Commercial Code)
VEHICLE SALES
Volkswagen AG sold a total of 1,882,535 (1,775,556) vehicles in fiscal year 2022. During the reporting period, demand recovered from the declines in sales in the prior-year period precipitated by the Covid-19 pandemic. However, the limited vehicle availability due to bottlenecks in the supply of parts caused by the shortage of semiconductors and the Russia-Ukraine conflict had a detrimental impact. In addition, disrupttions in the supply chain resulted in delays. Vehicles sold abroad accounted for a share of 64.1 (66.3) %.
PRODUCTION
Volkswagen AG manufactured a total of 666,722 vehicles (+5.6%) in the reporting year at its vehicle production plants in Wolfsburg, Hanover and Emden. In fiscal year 2022, supply shortages, especially for semiconductors, continued to limit production.
EMPLOYEES
As of December 31, 2022, a total of 116,677 (117,633) people were employed at the sites of Volkswagen AG, excluding staff employed at subsidiaries; of this figure, 4,452 (4,635) were vocational trainees. 7,528 (7,235) employees were in the passive phase of their partial retirement.
Female employees accounted for 18.3 (17.9) % of the workforce. Volkswagen AG employed 7,908 (7,227) part-time workers. The percentage of foreign employees was 6.5 (6.5) %. In the reporting period, 83.3 (83.3) % of the employees in Volkswagen AG’s production area had completed vocational or additional training. The proportion of graduates was 21.9 (21.4) % in the same period. The average age of employees in fiscal year 2022 was 45.1 (44.8) years.
€ million |
|
2022 |
|
% |
|
2021 |
|
% |
|---|---|---|---|---|---|---|---|---|
|
|
|
|
|
|
|
|
|
Direct pay including cash benefits |
|
8,231 |
|
56.7 |
|
7,816 |
|
67.5 |
Social security contributions |
|
1,510 |
|
10.4 |
|
1,340 |
|
11.6 |
Compensated absence |
|
1,208 |
|
8.3 |
|
1,084 |
|
9.4 |
Retirement benefits |
|
3,557 |
|
24.5 |
|
1,345 |
|
11.6 |
Total expense |
|
14,506 |
|
100.0 |
|
11,585 |
|
100.0 |
RESEARCH AND DEVELOPMENT
Volkswagen AG’s research and development costs as defined in the German Commercial Code amounted to €4.6 (3.5) billion in the reporting period. 15,053 (+11.5%) people were employed in this area at the end of the reporting period. The year-on-year rise is attributable, among other factors, to a change in the data collection method.
BUSINESS DEVELOPMENT OF VOLKSWAGEN AG
As the parent of the Volkswagen Group, Volkswagen AG is fundamentally subject to the same expected developments and risks and opportunities. The forecast is explained in the chapter entitled “Report on Expected Developments” and the risks and opportunities in the chapter entitled “Report on Risks and Opportunities” of this annual report.
RISKS ARISING FROM FINANCIAL INSTRUMENTS
Risks for Volkswagen AG arising from the use of financial instruments are generally the same as those to which the Volkswagen Group is exposed. An explanation of these risks can be found in the chapter “Report on Risks and Opportunities” of this annual report.
DEPENDENT COMPANY REPORT
The Board of Management of Volkswagen AG has submitted to the Supervisory Board the report required by section 312 of the Aktiengesetz (AktG – German Stock Corporation Act) and issued the following concluding declaration:
“We declare that, based on the circumstances known to us at the time when the transactions with affiliated companies within the meaning of section 312 of the AktG were entered into, our Company received appropriate consideration for each transaction. No transactions with third parties or measures were either undertaken or omitted on the instructions of or in the interests of Porsche or other affiliated companies in the reporting period.”