Porsche picks new r&d chief as suspended Hatz quits

UPDATED: 5/3/16 10:15 am ET - adds statement

Porsche AG's supervisory board has appointed Michael Steiner as new head of r&d, replacing Wolfgang Hatz who will leave the sports-car maker at his own request.

VW's U.S. slump hits 6-month mark

Continued weakness in the Volkswagen brand's core lineup of passenger cars dragged down its U.S. sales for the sixth consecutive month in April while

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