Piech denies reports saying he wants to oust Winterkorn
April 23, 2015 13:07 CETVolkswagen Chairman Ferdinand Piech denied reports that he is seeking to oust CEO Martin Winterkorn, a German newspaper reported, quoting Piech. Separate German media reports had said that Piech aims to push out Winterkorn ahead of the carmaker's May 5 annual shareholder meeting.
Mercedes fined $56 million in China for price fixing
April 23, 2015 08:30 CETAuthorities in China's Jiangsu province fined Mercedes-Benz 350 million yuan ($56 million) for a pricing monopoly there. It is the biggest fine imposed on an automaker since the government started to crack down on antitrust violations last year.
BMW says new 7 series can park itself
April 18, 2015 00:15 CETBMW says the new 7-series flagship sedan will be the world's first series-production car that can be parked without anyone at the wheel. The remote control parking feature will help make the car the most technologically advanced model in its class, r&d boss Klaus Froehlich said.
Volkswagen CEO Winterkorn to stay in defeat for Piech
April 17, 2015 11:59 CETVolkswagen Group CEO Martin Winterkorn won the "full support" of the automaker's top-level committee to continue serving as chief executive in a defeat for Ferdinand Piech, the automaker's powerful chairman and patriarch of its founding family.