Volkswagen
Volkswagen (VW; German pronunciation: [ˈfɔlksˌvaːɡn̩] ⓘ)[Note 1] is a German automobile manufacturer headquartered in Wolfsburg, Lower Saxony, Germany. Founded in 1937 by the German Labour Front under the Nazi Party and revived into the global brand it is known as today post World War II by the British Army officer Ivan Hirst, it is known for the iconic Beetle and serves as the flagship brand of the Volkswagen Group, the largest automotive manufacturer by worldwide sales in 2016 and 2017.[1] The group's biggest market is in China, which delivers 40 percent of its sales and profits.[2][3] Its name is derived from the German-language terms Volk and Wagen, translating to "people's car" when combined.
"VW" redirects here. For other uses, see VW (disambiguation).Company type
28 May 1937
Worldwide
Thomas Schäfer (CEO, Volkswagen Passenger Cars)
279,232,000,000 Euro (2022) 
22,124,000,000 Euro (2022)
15,836,000,000 Euro (2022)
The company's exit from the Russian market[edit]
After February 24, 2022, as a result of Russia's full-scale invasion of Ukraine and in line with sanctions against Russia, Volkswagen, after BMW and Mercedes, ceased production at its subsidiaries in Russia - the plants in Kaluga and Nizhny Novgorod. It also stopped exporting models of its subsidiary Porsche to Russia."
In March 2023, the Russian court froze all VW assets in Russia at the suit of the local automaker GAZ.
Thus, Volkswagen AG completely ceased its operations in Russia due to Russia's full-scale invasion of Ukraine, terminated all dealership agreements with Russian partners, and sold all its shares. The German brand has an agreement with Art Finance LLC, which is the financial partner of the local Avilon dealer. The agreement provides for the transfer of all local VW subsidiaries to the new investor.