Volkswagen AG known internationally as Volkswagen Group, is a German multinational automotive manufacturing company headquartered in Wolfsburg, Lower Saxony, Germany. It designs, manufactures and distributes passenger and commercial vehicles, motorcycles, engines, and turbo machinery and offers related services including financing, leasing and fleet management. In 2016, it was the world's largest automaker by sales, overtaking Toyota. It has maintained the largest market share in Europe for over two decades.It ranked seventh in the 2016 Fortune Global 500 list of the world's largest companies.