Report on Expected Developments

The global economy is expected to continue its growth trajectory in 2015, still driven by the rapidly growing emerging markets of Asia in particular. Many automotive markets are also slated to expand further in 2015. The Volkswagen Group intends to capitalize on this trend by building on the strength of its brand diversity, pioneering technologies and global presence.

In the following, we describe the expected development of the Volkswagen Group and the general framework for its business activities. Risks and opportunities that could represent a departure from the forecast trends are presented in the Report on Risks and Opportunities.

Our assumptions are based on current estimates by third-party institutions. These include economic research institutes, banks, multinational organizations and consulting firms.