Friday, December 14, 2007

Volkswagen of America renames itself

Moving from Auburn Hills, Michigan to Herndon, Virginia meant many things for Volkswagen. Some people were left behind in the process, positions were combined, dropped or created. But as Volkswagen settled into its new home, there was apparently one more thing left to be done.

Volkswagen this week announced that the US arm of Volkswagen AG will be renamed to "Volkswagen Group of America, Inc." The change was done to better reflect the five distinct brands that are available in the US: Volkswagen, Audi, Lamborghini, Bugatti, Bentley, as well as the three financial services of Audi Financial Services, Bentley Financial Services, and Volkswagen Credit.

Though, technically, "Volkswagen of America" is not gone. Volkswagen (the brand) will be operating as Volkswagen of America (as will Audi), which will be under the Volkswagen Group of America. Think of it as a mini Volkswagen AG just for the US.

All this comes into effect on January 1. Press release after the jump.

Source: Volkswagen



AUBURN HILLS, MICH. (Dec. 12, 2007) — Volkswagen of America, Inc. announced today that it has changed its name to Volkswagen Group of America, Inc. The change will be fully effective January 1.

The new name better reflects the fact that the Volkswagen Group of America includes five distinct brands: Audi, Bentley, Bugatti, Lamborghini, and Volkswagen, as well as the related financial services functions of Audi Financial Services, Bentley Financial Services and Volkswagen Credit.

“Our company, like the entire Volkswagen Group, has grown dramatically since our formation in the United States in 1955. Our new corporate name allows our individual brands to flourish, while recognizing that we have a common support structure that gives us great strength as we face our competitors,” said Stefan Jacoby, President and Chief Executive Officer. “The new name Volkswagen Group of America reflects the much wider array of goods and services we now offer, and prepares us for even more activities in the future.”

Operating under the umbrella of Volkswagen Group of America, the Volkswagen and Audi brands will continue to provide sales and service under their names, Volkswagen of America and Audi of America.

Volkswagen Group of America, Inc. remains a wholly owned subsidiary of Volkswagen AG, which together with its subsidiaries and affiliates worldwide is now the fourth largest automobile company in the world.

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