On June 29, 1932, four German automobile companies — Audi, DKW, Horch, and Wanderer — merged into Auto Union AG. The newly formed concern became the second largest in Germany after Daimler-Benz AG. Trademarks of all participants in the concern were preserved. Each of them occupied its own market niche: DKW majored in motorcycles and minicars, Wanderer — in middle-class cars, Audi — in business-class vehicles and Horch focused on luxury limousines. The concern was headed by August Horch. Four intertwined rings, symbolizing the union of co-founders, were chosen as the emblem. To avoid confusion with the Olympic rings, Auto Union rings were placed in one line and provided with the corresponding inscription. Of this quartet, only Audi «survived».
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