Volkswagen (German: [ˈfɔlksˌvaːɡn̩] (audio speaker iconlisten);[Note 1] shortened to VW [faʊˈveː] (audio speaker iconlisten)) is a German motor vehicle manufacturer headquartered in Wolfsburg, Lower Saxony, Germany. Founded in 1937 by the German Labour Front, known for their iconic Beetle, it is the flagship brand of the Volkswagen Group, the largest car maker by worldwide sales in 2016 and 2017.[2] The group's biggest market is in China, which delivers 40% of its sales and profits.[3][4] The German term Volk translates to "people", thus Volkswagen translates to "people's car".