TIMELINE: VW may be world's new number one carmaker

(Reuters) - Volkswagen AG's vehicle sales fell 11.4 percent in the first quarter, but it may have gained enough market share to let it overtake Japan's Toyota Motor Corp as the world's top-selling automaker - at least temporarily.

VW's first-quarter group sales of 1.39 million vehicles gave it a global market share of 11.0 percent, up from 9.7 percent a year earlier.

Toyota has given no forecast for retail sales, but its latest estimate for shipments for the 2009 first quarter is 1.23 million vehicles, down 47 percent.

Following is a timeline of Volkswagen:

1937 - The "Gesellschaft zur Vorbereitung des Deutschen Volkswagens mbH" company is founded in Germany. The following year construction begins on a factory to be built in an unpopulated area later known as the "Strength through Joy City" before being named Wolfsburg after a nearby castle.

1939-1945 - Volkswagen plant is reorganized for the production of armaments during the Second World War.

1949 - British military government hands over administration of the seized company to the state of Lower Saxony.

1955 - One millionth Volkswagen built in Wolfsburg

1960 - Company is privatized under the "Volkswagen Law."

1965 - Buys the Daimler-Benz subsidiary Auto-Union GmbH, making it an independent subsidiary within the group. Auto-Union later merges with NSU Motorenwerke AG to become Audi NSU Auto Union AG. The company is renamed Audi AG in 1985.

1972 - Its 15 millionth car is assembled as the Beetle breaks the legendary production record of Henry Ford's Model T.

1973 - The Passat goes into production. With front-wheel drive, a water-cooled four-cylinder engine and a range of engines, it becomes the standard-bearer for a new generation of Volkswagens.

1974 - The first Golf hatchback is built at the Wolfsburg plant, quickly becoming a hit just as the Beetle loses steam. The Golf GTI, with a 110 bhp engine rolls, out two years later.

1983 - Production of the second-generation Golf begins. The car is designed for a largely automated assembly process, and robots are deployed for the first time in vehicle manufacture.

1985 - Begins building the Santana in China.

1986 - Volkswagen obtains a majority stake in Spain's SEAT S.A., making it an independent brand within the Group.

1991 - Takes over Czech carmaker SKODA, its fourth brand.

1998 - Acquires Britain's Bentley Motor Cars Limited, expanding its range in the luxury class.

-- VW's Audi acquires Italian sportscar manufacturer Lamborghini SpA.

-- Acquires and revives the legendary Bugatti brand, later builds the 1,000 horsepower super-sportscar Veyron.

2000 - Acquires a strategic stake in Sweden's Scania AB, fulfilling a long-standing ambition to move into heavy trucks. Eight years later it gains majority control.

2005 - German sports car maker Porsche says it will buy about 20 percent of Volkswagen.

2007 - Europe's highest court rules against Volkswagen Law.

2008 - In March, Porsche authorizes taking a majority stake in Volkswagen. In October, Porsche triggers a massive short squeeze that sends VW voting shares as high as 1,000 euros each.

January 2009 - Volkswagen says it met its forecast for group sales growth in 2008 with a 0.6 percent increase in customer deliveries to a record of 6.23 million vehicles.

-- Porsche lifts its VW voting stake to 50.8 percent. March 2009 - VW reaffirms warning of a likely loss in Q1 and only sees a "small ray of hope" for the second.

April 2009 - VW's market share gains may let it overtake Japan's Toyota as the world's top-selling automaker.

Sources: Reuters; www.volkswagen.com;

(Writing by Jijo Jacob; Additional writing and editing by David Cutler, London Editorial Reference Unit and Christiaan Hetzner in Frankfurt; additional editing by John Stonestreet)