VOLKSWAGEN AG


Meaning of VOLKSWAGEN AG in English

Major German automobile manufacturer.

It was founded in 1937 by the Nazi government to mass-produce a low-priced "people's car" ( Volkswagen ). After World War II it was rebuilt with Allied help, and within a decade it was producing half of West Germany's motor vehicles. U.S. sales of the small, rounded car were initially low, but an advertising campaign marketing it as the Beetle massively increased sales in the 1960s, making it the leading auto import in the U.S. Competition from other foreign compact cars brought Volkswagen near bankruptcy by 1974, but it rebounded with newer, sportier models such as the Rabbit. In 1998 it introduced a new version of the Beetle. With its affiliates Volkswagen operates plants worldwide; it also owns several other auto companies, including Audi and Rolls-Royce .

Britannica Concise Encyclopedia.      Краткая энциклопедия Британика.