Volkswagen abbreviated as VW is a German motor vehicle manufacturer headquartered in Wolfsburg, Lower Saxony, Germany. Founded in 1937 by the German Labour Front, it is known for the iconic Beetle and serves as the flagship brand of the Volkswagen Group, the largest automotive manufacturer by worldwide sales in 2016 and 2017. The group's biggest market is in China, which delivers 40 percent of its sales and profits. Its name is derived from the German-language terms Volk and Wagen, translating to "people's car" when combined.