VWGoA AND ITS DEALERS SUPPORT NEARLY 120,000 U.S. JOBS AND CONTRIBUTE NEARLY $25 BILLION TO U.S. ECONOMY, STUDY FINDS

November 15, 2016 by Volkswagen

—Ernst & Young study shows Volkswagen Group of America's economic contributions and state-by-state impact in 2015—

Herndon, Va. (November 15, 2016) – Volkswagen Group of America (VWGoA) operations and its dealers were responsible for 119,830 direct and indirect U.S. jobs in 2015, including more than 2,000 newly-created jobs, according to a study of the company's 2015 U.S. economic contribution by Ernst & Young. The study finds that employees supported by VWGoA's U.S. operations earned a total of more than $7.1 billion in compensation, and generated $24.8 billion of U.S. economic gross output.

VWGoA President and CEO Hinrich J. Woebcken announced the study's results today at the 2016 AutoConference LA event, hosted by the National Automobile Dealers Association and J.D. Power.

'The Ernst & Young study shows the broad reach and impact of VWGoA's operations, the strength of our U.S. dealer network, and the important role the company plays in spurring economic growth and U.S. jobs,' said Hinrich J. Woebcken, president and CEO, Volkswagen Group of America, Inc. 'We are tremendously proud of the positive impact we've had on the U.S. economy thus far, and are confident that our long-term investments in this market will continue to benefit communities throughout the nation.'

The study also indicates that VWGoA's U.S. operations, comprising more than 900 Audi and Volkswagen dealerships in all 50 states, and 56 corporate-operated facilities in 15 states, contributed $2.4 billion of federal, state, and local taxes in 2015.

Key findings from the study show that, in 2015, VWGoA:

◾Supported 45,866 direct jobs, including positions throughout U.S. corporate facilities and VW and Audi dealerships.

◾Supported 73,944 indirect and induced jobs, including positions with U.S. suppliers and throughout the manufacturing sector.

◾Created 2,057 new jobs based on its capital investments, including 1,600 supported by the expansion of Volkswagen's Chattanooga plant.

◾Provided more than $7.1 billion in employee compensation, which helped generate $24.8 billion of U.S. economic gross output.

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◾Contributed $2.4 billion of federal, state and local taxes, including $280 million in customs duties and fees, $550 million of direct-employee related taxes, and property and payroll taxes.

◾Donated more than $4.3 million in charitable giving to 122 organizations.

The Ernst & Young study was commissioned by VWGoA. The analysis was based Ernst & Young's IMPLAN economic model and 2015 data provided by VWGoA. The study included an analysis of the employment, labor income and gross economic output of VWGoA, Volkswagen of Chattanooga, and Volkswagen and Audi dealers nationwide. A full copy of the study is available here.

About Volkswagen Group of America, Inc.

Volkswagen Group of America, Inc. (VWGoA) is a wholly owned subsidiary of Volkswagen AG, one of the world's leading automobile manufacturers and the largest carmaker in Europe. VWGoA operates a manufacturing plant in Chattanooga, Tennessee and houses the U.S. operations of a worldwide family of distinguished and exciting brands including Audi, Bentley, Bugatti, Lamborghini and Volkswagen, as well as VW Credit, Inc. Founded in 1955, the company's headquarters are in Herndon, Va. The company has approximately 6,000 employees in the United States and sells its vehicles through a network of approximately 1,000 dealers.