Wolfsburg is net sales break down by activity as follows: - sale of vehicles (84.1%); - financial services (15.9%). Early 2020, Volkswagen had 124 production sites around the world. The geographic breakdown of sales is as follows: Germany (19.4%), Europe (41.6%), Asia-Pacific (17.4%), North America (17.2%) and South America (4 , 4%). Early 2025, employees volume was 650,000

Wolfsburg is a notable identity of lower saxony which gives it a position on earth. As any leader, it is an offensive center of attraction around which a great deal of interest revolves. The question of dividend then arises acutely for investors. Also, the valuation that takes into account the legal risk and public health is likely to prevent speculative choice. Through the intricacies woven by Wolfsburg, it becomes possible to restore what has happened in order to anticipate what will happen.

In the first place, it is advisable to observe the current affairs of the company through the thin veil of law. Indeed, the judge has the skills to know any offense not subject to limitation and his decisions can have negative consequences on the financial results of a for-profit company. Wolfsburg takes this consideration very seriously. In 2017, First Senate Judge Christine Hohmann-Dennhardt was hired¹ as a board member for integrity and legal affairs. Her perfect knowledge of German legal procedures and of the positive law in force is a guarantee of conformity. An alternative to prosecution has been concluded¹ March 10, 2017 with the DOJ which allows the company to avoid a conviction that could destroy the activity of the brand and its subsidiaries in the USA. A decision of the German Federal Constitutional Court of June 27, 2018 has enriched¹ the definition of the rights of foreign companies. January 2021, US Supreme judge opened¹ an environmental docket. July 2021, European anti-trust judge sanctions¹ for Wolfsburg and BMW with a ~ 1 billion € fine. The US SEC keeps few public data on Wolfsburg, except for few subsidiaries such as Skoda and Ducati. Qatar and the German state hold shares in the company which gives jurisdiction to the American anti-corruption judge in matters of breach of probity.  Furthermore, its partnership with Nokia ( now a partner¹ of the Chinese Tencent and Baidu ) regarding autonomous vehicles qualifies the competence of Congress both in terms of trade policy and that of internal security. Therefore, the decline towards a new ethic of nationalization is one of the causes of a foreseeable slowdown for Wolfsburg, the consequence of which would be the underweighting of the title. Another cause would be epidemiological.

Secondly, public health policy prevails over the issue of legality. This is deduced by the evolution of the title during the crisis of 2020, the value of which has fallen to the lowest for the last five years including the procedures mentioned in the previous chapter. Judge's adage Cuem hoc ergo propter hoc is understood by the physician as Same causes, same effects. It is true that a new confinement would entail the appearance of immediate and disproportionate constraints which are incompatible with the economic model of mass production woven by Wolfsburg. This is why the question of clinical causalities is now imposed on manufacturers. The analysis of their impact is limited to the areas of the most frequent non-curable infectious diseases. This excludes, for example, M.tb, Pseudomonas aeruginosa and qualifies the most recent airborne inoculations which constitute in particular the acute respiratory distress syndrome (ARDS, 2010) and positive-strand RNA viruses (2020). Then, the case fatality rate inside the positive panel is a satisfactory observation factor for anticipating the real land transport needs by people, assessing the production capacities of human resources and optimizing the group's activities. It should not be confused¹ with the rate of contagiousness known as incidence nor with recurrence. Assuming a moderate increase in the morbidity rate, the two-wheeler and heavy-duty truck industries would enjoy a favorable market unbalanced by the sedan branches. Ducati, Scania, MAN are part of the properties of Wolfsburg. Scania deserves special attention in an uncertain future as the company distils patented innovations into the market that could become even more relevant. For example, its speedboat extracts its users from the constraints of dry land, its autonomous electric truck gives its user greater exploitation field. However, these added values ​​would be tempered for the major slowdown in the activities of Seat, Skoda and Volkswagen's cars. Porsche SE, the majority owner of Wolfsburg should then propose an ambitious management policy.

German government policy holds extraordinary power over the global auto industry. This provided a number of reassuring clues during the health crisis of 2020 because the confinement there did not result from martial law but from a regulatory emanation provided for by a democratic regime. In the light of a mortal danger looming inside boundaries, the constitution nevertheless gave the chancellor the prerogatives of restricting individual freedoms. It is possible to deduce from this that the experience acquired by the German federal state allows it to limit the occurrence's probability of the worst health scenario for Wolfsburg.

For these reasons,

Wolfsburg deserves upper middle confidence.

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