Q: What do you think about investing in Volkswagen at this time? There are both common and preferred share classes and I hear they represent the same ownership of the company but there is a significant price difference (the preferreds are cheaper). The company seems to have cleaned up its act environmentally and is now poised to be one of the world’s biggest EV manufacturers. Volkswagen also has a large and growing footprint in China. If worth investing in, what shares—common or preferred—should one opt for? Thanks.
A: Volkswagen AG (Shares outstanding: 501.3 million [59% preferred and 41% common]; Market cap: $138.0 billion; www.volkswagenag.com), is one of the world’s largest automobile manufacturers and the largest in Europe. Its brands include Volkswagen, Audi, Bentley, Porsche, Lamborghini, and the Ducati motorcycle brand.
The company has its main listing on the Frankfurt Stock Exchange, but it trades on the U.S. over-the-counter market under two symbols: VWAGY, $31.88, represents Volkswagen’s common shares, and VWAPY, $22.26, represents the preferred shares.
In 2015, the company created Volkswagen Truck & Bus GmbH, the company’s commercial vehicle business. Three years later, in August 2018, it was renamed Traton. The division became a public company in June 2019. Its brands include Scania, MAN, and Navistar, which Traton acquired on July 1, 2021, for $3.7 billion. Volkswagen retains 89.7% of Traton.
Volkswagen’s overall revenue between 2016 and 2019 grew by 16.2% from 217.3 billion euros ($255.2 billion U.S.) in 2016 to 252.6 billion euros ($296.8 billion) in 2019. However, due…
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Changes to this Policy
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