Transcription
Volkswagen Golf VII: Launch of a new eraProf. Dr. Martin Winterkorn, Chairman of the Board of ManagementHans Dieter Pötsch, Member of the Board of ManagementVolkswagen AktiengesellschaftSardinia, 8 October 2012
DisclaimerThis presentation contains forward-looking statements and information on the business development of the Volkswagen Group. These statements maybe spoken or written and can be recognized by terms such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “seeks”, “estimates”, “will” orwords with similar meaning. These statements are based on assumptions relating to the development of the economies of individual countries, and inparticular of the automotive industry, which we have made on the basis of the information available to us and which we consider to be realistic at the timeof going to press. The estimates given involve a degree of risk, and the actual developments may differ from those forecast.Consequently, any unexpected fall in demand or economic stagnation in our key sales markets, such as in Western Europe (and especially Germany) orin the USA, Brazil or China, will have a corresponding impact on the development of our business. The same applies in the event of a significant shift incurrent exchange rates relative to the US dollar, sterling, yen, Brazilian real, Chinese rinminbi and Czech koruna.If any of these or other risks occur, or if the assumptions underlying any of these statements prove incorrect, the actual results may significantly differfrom those expressed or implied by such statements.We do not update forward-looking statements retrospectively. Such statements are valid on the date of publication and can be superceded.This information does not constitute an offer to exchange or sell or an offer to exchange or buy any securities.2
Volkswagen Golf VII: Launch of a new eraProf. Dr. Martin WinterkornChairman of the Board of Management, Volkswagen AktiengesellschaftSardinia, 8 October 2012
The new Golf4
Strategy 2018: Sustainable growth and profitabilityTopcustomersatisfaction& qualityVolkswagen GroupVision: the world’s most profitable,fascinating and sustainable automobilemanufacturerTopemployerReturn onsales before tax 8%Unit sales 10 millionvehicles5
Volkswagen Group – built on three strong pillars1)Automotive DivisionFinancial Services DivisionCommercial Vehicles,Power EngineeringPassenger CarsVolkswagen Financial ServicesEurope / Asia-Pacific / North- and South AmericaFinancial ServicesUSA / Canada / Spain / Argentina2)Scania Financial Services3)MAN Financial ServicesPorsche Holding Financial ServicesPorsche Financial ServicesRemaining companies1)2)Organisational structure of Volkswagen Group as from 1 September 2012; reporting structure as from Q1 2013 reportFully consolidated as from 1 August 20123)Consolidated as from 19 July 20126
Substantial growth opportunities1)Cars and Light Commercial VehiclesTrucks ( 6t)World market growth 2011-2018 (million units)World market growth 2011-2018 (million units) 36% 8Source: IHS Global Insight (data status: September 2012), rounded7
Volkswagen Group – Deliveries to customers by brands1)January to September 2012 vs. 2011January to September 2011January to September 2012 000 units8,0007,0006,000 10.6%6,8026,152 10.5%5,0004,0004,2093,8113,000 12.8% 7.9%2,000973 1,0981,000 4.9%-10.7% 24.4%665 717267 23823563904090VolkswagenVolkswagenGroupPassenger Cars1)AudiŠKODASEATPorsche(since 08/2012)BentleyVW CommercialVehiclesPreliminary figures incl. Scania (Jan – Jun) and MAN (Jan – Jun; since 9 Nov 2011); 9.7% excl. Scania and MAN. Porsche AG fully consolidated as from 1 August 20128
World car markets and Volkswagen Group deliveries to customers1)January to September 2012 vs. 2011World: Car market: 7.9% VW Group: 9.7%North AmericaCar marketVW GroupCars LCV25.3%Western EuropeCar marketVW GroupCar market9.4%-7.6%South AmericaVW Group-2.8%Rest of WorldCar marketVW GroupAsia PacificCar market20.9%13.5%4.8%1)VW Group23.1%13.5%Car marketCentral & Eastern Europe7.3%VW Group17.9%7.6%Preliminary figures incl. Porsche (since 1 August 2012); excl. Scania and MAN9
Volkswagen Golf VII: Launch of a new eraHans Dieter PötschMember of the Board of Management, Volkswagen AktiengesellschaftSardinia, 8 October 2012
Golf VII – a cornerstone in our Strategy 2018Sustainable growth combined with sustainable profitabilityPotential upsideProduct portfolio extensionNorth American expansionand market recoveryCommercial vehicle strategyand market recoveryFinancial Services: strengthenthe automotive value chain16Growth market focusIncreased market penetrationEmerging markets expansionBalanced global footprintLeading incustomersatisfactionand qualityTop employerSynergy potentialLeveraging best practicesacross the GroupPurchasing, production, anddistribution benefitsVolkswagenGroup profitbefore taxmargin 8%Volumes 10 millionunits p.a.2)542Operating profit measuresStrong cost controlProcess/product optimizationRegional scale effects3Modular toolkit strategyReduction in investment,development and unit costsScale and efficiency effectsIncreased production flexibilityReduced time to marketCapital discipline 16% RoI target inautomotive business20% RoE1) goal inFinancial ServicesAround 6% automotive capexin PPE/sales1)2) Including ChinaNormalized RoE based on 8% equity ratioNote: All stated Volkswagen Group figures represent financial targets for 2018, excluding Porsche and MAN11
The Golf – a reliable contributor to Volkswagen‘s successMore than 29 million Golf deliveries to customers since 19741974 Golf I1983 Golf IIDeliveries to customers1)( 000 vehicles)1991 Golf III1997 Golf IV2003 Golf V2008 Golf VI2012 Golf VII(% of Group deliveries)30%80060020%40010%20001)0%includes Golf Hatchback, Station Wagon, MPV, Cabrio12
1305.01204.51104.01003.5903.0802.5702.0CO2 emission g/kmFuel consumption l/100kmCO2 emission g/kmThe new Golf sets the benchmark in terms of efficiency and sustainabilityFuel consumption l/100km13
Strong position in Europe and substantial growth opportunities for the Golf inkey sales marketsMarket shares of the Golf* in 2011 6%4-6 %3-4 %2-3 %0-2 %* includes Golf Hatchback, Station Wagon, MPV, Cabrio14
Introducing premium features in the volume segment2012Golf VII2008Golf VI1974Golf IFront-wheel driveTransverse enginesGTINavigation touchscreenKnee airbagPark AssistDamper control DCCCommon rail TDIDyn. cornering lightReversing cameraAutomatic Stop/StartBattery regenerationHill hold assistLED rear lightingKESSYMulticollision brakeSpeed limiterFront transverse diff. lockTouch with proximity sensingProgressive steeringAutomatically folding mirrorLED fog lightsPreCrashPark Assist 2City Emergency BrakingFatigue detectionTraffic sign detectionPark PilotDynamic Light AssistLane AssistFront AssistAdaptive Cruise ControlElectric parking brakeDriving profile selectionCylinder deactivationDeluxe climate windowPanoramic tilt/slide sunroofErgonomic seatsRun-flat tyresAmbience lighting15
More value for money Driver assistance systems and vehicle dynamics available for all vehicles based on MQBPreCrash360 Park PilotAdaptive Cruise ControlLane AssistPark Assist 2Sign AssistFatigue detectionCity Emergency Breaking Multicollision brake16
Leveraging economies of scale: One standard across the brands and segmentsModular Infotainment ToolkitCommon technology but individual surface and controls tosafeguard brand differentiationModular Infotainment Toolkit to be used across all segments,also in New Small Family class as well as Trucks and BusesA0ABCDEHigh/PremiumMSBStandardEntry1)MLBMQB /PQMQB: Modularer Querbaukasten / modular transversal toolkit; PQ: Plattform Quer / transversal platform; MLB: Modularer Längsbaukasten / modular longitudinal toolkit;MSB: Modularer Standardbaukasten / modular standard toolkit17
Intuitive and high quality infotainment systems for everyone’s taste and budgetHigh-quality displayMultitouch: Gesture control in operating the touchscreenCover flow for selecting mediaDisplay size up to 8“Situative touchscreen (STS)Proximity sensors detect the user‘s finger or hand and thenautomatically switch from display mode to operating modeDetailed information display in display modeSafe and convenient user operation in operating modeEasy operationWell laid-out and intuitive user menusCapacitive touchscreen: Low touch pressureLarge MIB display makes controls easy to operate and enablesindividual settings for all vehicle & driver assistance systems18
Moving profitability to a higher sustainable levelIncreasing operating profitHigher avg. revenues per carthrough better equipped vehiclesLower one-off expenditureOperating profitLower material costs per unitLower engineered hours per vehicleEconomies of scaleRoI Disciplined management of investment capitalInvested capitalShorter developmenttimes per carLimited one-off expenditureLess investments in toolingthrough high standardisationRoI in the Automotive Division17.7Target 16 %13.59.5Best inclass10.99%2.920053.85.82006 20072008200920102011201819
MQB Toolkit: Driving forward significant economies of scalein unit cost and investmentMQB1) Audi A3MQB provides substantial efficiency gainsReduction of unit costsLower one-off expenditureLess engineered hours per vehicleSignificant weight and emission kit affordsFlexibility in length, height, widthSignificant economies of scaleRegional variationsOpportunity for low volume niche modelsAlternative powertrain conceptsMQB: Modularer Querbaukasten / modular transversal toolkit20
Modularisation of production materialExample: Underbody framerProduction materialsGeometric supportsModule base plateModule moving unitModule part supportsGolfTiguanPassatNew moving systems allow the realisation of different modelsand wheelbases from the Golf to the Tiguan to the Passat21
Modularisation of production systemsExample: Body constructionProduction systems30 vehicles / h1 vehicle type60 vehicles / h2 vehicle typesBasic module with30 vehicles / h forone vehicle typeArea for potentialexpansion inbasic layoutincludedExpandedbasis modulewith 60 vehicles / h and twovehicle typesThe modular production system (MPB) builds in flexibility in productionsystems regarding quantity, degree of mechanisation and vehicle type22
Higher flexibility in production through standardisationExample: Turntable conceptsUtilisation of concept within plant and across brands and locationsBody shop vehicle type 1Body shop vehicle type 2PoloGolfOctaviaBody shop vehicle type 3Body shop vehicle type 4Fully flexible body shopfor all 4 typesGolfTiguanOctaviaA3PoloEnhanced flexibility to better react to fluctuations in customer demandProduction plants23
Flexibilisation through standardisationExample: Flexible gripper in the body shopToday: single-use toolingMQB: flexible toolinggripper 1Line 1gripper 2Line 2gripper 3Line 31 flexiblegripper1 lineImproved flexibility in assembly and savings in tooling24
Unification of powertrain installation positions:Considerably reducing number of variants and complexity6 generations of GolfRotation ofcylinder headGolf 7 (MQB)All enginesPetrol enginesExhaust lineDiesel enginesDrive shaftPowertraininstallation positionsNumber today-88%GearboxGearshiftMQBWith the MQB all engines receive a uniform assembly positionConsiderable reduction of the number of variants and the complexity by using the modular assembly strategy25
The MQB‘s flexible design is able to accomodate alternative drivesConventional driveAlternative/RegenerativeTSI GasolineEA211EcoFuelCNGElectric driveTDI DieselEA288Plug-inEDriveFlexFuelEthanol26
Economies of scale through utilisation of MQBExample: Modular transverse membersGolf VIGolf VII– Higher initial investmentHigher order volumeLower price per unitHigher initial investments amortised in the first yearSavings invested in higher quality cockpit and contentInitialcapexAnnualvolumeCostper unitNet weight27
The new Golf: up to 100 kg less weight than its predecessor-37kg-26kgSuperstructure*Use high-strength & advanced high-strength steelgrades (HSS) and reduce sheet thicknessVIVIIRunning gear*Hot formedHot formed steelAdvanced HSS-22kgEngine*-12kgSpecial equipment*Only use material where it is needed-3kgElectrical*Optimise geometries of profiles and surfacesSteelAdv. HS steelUltra-high-strength steel, hot formed* Model-dependent28
Reduced build times through high standardisation and more efficient productionBuild time*in h30 15%20 30%10Golf VGolf VIGolf VII02006200720082009201020112012* Build time (blue line): press shop, body shop, paint shop and assembly line29
Roll-out of MQB production across the Volkswagen GroupProductionin m unitsMQB investments(left scale)86Volume in units 2012: 0.1 m2014: 2 m2016: 4 mMore than 40 models will bebased on the MQB until 2018 4The ramp up phase for a newmodel decreases substantially2Significant up-front investmentswill pay off in the long run0.1201220142016201830
MQB helping to improve product and marginsMaterial costs 100 %Distribution of savingsAdditional serial andoptional content,previously reserved topremium classHatca. 40%Potential savingsMQBplatformca. 60%Lower cost per unitSavings to be partlyabsorbed to fulfillregulatory and legalrequirements:Less EHpV1)Less one-off uresInvest1)EURO 6Pedestrian protectionEngineered Hours per Vehicle31
Introduction of whole Golf family within two yearsWorldwide roll-out in more than 140 countriesGolf hatchback2012Golf GTIE-GolfGolf GTDGolf natural gas (CNG)Golf BlueMotionGolf R-ModelGolf R-LineGolf Special ModelsGolf PlusGolf VariantGolf ChinaGolf Plug-In Hybrid2013201432
The Golf VII: Strong operating profit improvementAnalysis of profitability1)Operating Profit UnitcostsOne erialsCurrencies/OtherVolumeGolf VIIGolf VI1)2)Schematic OverviewEngineered Hours per Vehicle33
Golf VII – a contributor to every element of our Strategy 20181Other Golf derivatives to belaunched within short timeHigh quality and well equippedStrong market position in WesternEurope and substantial growthopportunities across the world6Leading incustomersatisfactionand qualityAttractive financing packagesTop employerDriving forward significanteconomies of scale in unitcosts and investmentsthrough the multi-brandapproach43Moving profitability to ahigher sustainable levelVolkswagenGroup profitbefore taxmargin 8%Volumes 10 millionunits p.a.1)52Reduced build times throughhigh standardization andmore efficient productionHigher average salesrevenue per carImproved cost structure1) Including ChinaNote: All stated Volkswagen Group figures represent financial targets for 2018, excluding Porsche and MAN34
Volkswagen Golf VII: Launch of a new era
Volkswagen Golf VII: Launch of a new eraProf. Dr. Martin Winterkorn, Chairman of the Board of ManagementHans Dieter Pötsch, Member of the Board of ManagementVolkswagen AktiengesellschaftSardinia, 8 October 2012
Volkswagen Group - Deliveries to customers by brands1) January to September 2012 vs. 2011 8 1) Preliminary figures incl. Scania (Jan - Jun) and MAN (Jan - Jun; since 9 Nov 2011); 9.7% excl. Scania and MAN. Porsche AG fully consolidated as from 1 August 2012 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 Volkswagen Group Volkswagen .
