Report on Expected Developments

The global economy and many automotive markets are expected to continue growing in 2014. The main driver of the global economy is the rapidly expanding emerging markets. 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 future development of the Volkswagen Group and the general framework for its business activities. Risks and opportunities that represent a departure from the forecast trends are presented in the Report on Risks and Opportunities.

We prepare our forecasts on the basis of current estimates by third-party institutions. These include economic research institutes, banks, multinational organizations and consulting firms.