Volkswagen is a German-based company and the world's largest automobile manufacturer. Their product range extends from low consumption small cars to luxury class vehicles, including the New Polo, New Beetle, Tourareg, Jetta, Passat, and Phaeton. Volkswagen is Europe's largest manufacturer with a market share over 20 percent and globally ranks in the 3rd largest position. Their promotional strategy reflects their core brand values of innovation, value, and responsibility. Volkswagen faces competition from Toyota, Ford, and Honda.