Volkswagen

VW board members came close to demanding Piech's resignation, paper says

April 18, 2015 22:33 CET

Senior members of Volkswagen's supervisory board were prepared to demand Chairman Ferdinand Piech's resignation had he not agreed to a statement backing CEO Martin Winterkorn, a German newspaper reported. Piech had initially resisted pressure from other board members to back Winterkorn during an emergency meeting.... Read More »

Volkswagen CEO Winterkorn to stay in defeat for Piech

April 17, 2015 11:59 CET

Volkswagen 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.... Read More »

VW's top board group backs Winterkorn as 'best possible' CEO

6:39 am U.S. ET | April 17, 2015

Volkswagen AG's supervisory board leadership panel backed CEO Martin Winterkorn, defusing a power struggle with Chairman Ferdinand Piech in saying Winterkorn is the "best possible" chief executive for the German automaker.... Read More »

VW Group sales rise 2% on Europe, China demand

April 17, 2015 12:25 CET

VW said group sales rose 2.3 percent in March to 968,300 vehicles, as gains in Western Europe and China helped offset declines in the U.S. and South America. The result extended first-quarter deliveries to a total of 2.49 million vehicles, a rise of 1.8 percent.... Read More »

Europe recovery continues in March

April 16, 2015 09:15 CET

European car sales increased 11 percent in March, the strongest growth in a year, as the region's improving economy fueled demand for vehicles made by automakers such as VW Group, Renault and Fiat Chrysler. Last month 1.65 million vehicles were sold in the region.... Read More »

VW to issue statement on leadership today, report says

April 16, 2015 14:41 CET

VW is expected to issue a statement on Friday following a meeting of top executives on Thursday afternoon to discuss a leadership crisis sparked by negative comments from chairman Ferdinand Piech against CEO Martin Winterkorn, according to a report.... Read More »

VW, Metzler terminate talks to sell LeasePlan

April 16, 2015 18:56 CET

VW Group and private German bank Metzler have terminated talks to sell LeasePlan, a Dutch fleet-management company with 1.42 million vehicles spread across 32 countries. The deal was valued at about 3 billion euros, people familiar with the situation said.... Read More »

Winterkorn opts out of German political event

April 16, 2015 13:18 CET

VW CEO Martin Winterkorn cancelled plans to take part in a political event with Germany's ruling parties on Thursday because of meetings at the Wolfsburg-based carmaker, a Social Democratic Party official said.... Read More »

Chinese automakers are taking over the hottest SUV market

12:34 pm U.S. ET | April 16, 2015

After years of losing out to foreign brands, China's automakers are winning in the world's hottest SUV market by employing a tried-and-tested strategy: offering them cheap.... Read More »

Volkswagen extends Routan ignition-switch recalls

12:55 pm U.S. ET | April 16, 2015

Volkswagen is recalling 20,676 Routan minivans with potentially faulty ignition switches. It is an extension of recalls for ignition-switch defects that replaced only detent plungers, instead of the full ignition switch.... Read More »

VW panel to meet today on leadership crisis, source says

April 15, 2015 19:08 CET

The steering committee of VW Group's supervisory board will meet today to try to resolve a leadership crisis caused by the exposure of a rift between its CEO and chairman, a source told Reuters.... Read More »

VW struggle in 'diplomacy phase' as investors weigh CEO change

April 15, 2015 12:11 CET

Volkswagen's leadership crisis has burst into the open with Chairman Ferdinand Piech's public denunciation of CEO Martin Winterkorn, but the standoff is now more likely to play out behind closed doors. Piech, 77, will meet his cousin, Wolfgang Porsche, and other family members to discuss the rift his comments appear to have opened up, sources said.... Read More »

VW shows off GTI Supersport concept for video game

3:13 pm U.S. ET | April 14, 2015

Volkswagen has unveiled a second high-performance concept for “Gran Turismo 6” on the Playstation 3 game system. The Volkswagen GTI Supersport Vision Gran Turismo was released today. The “classic Golf design is instantly recognizable” within the concept, according to the game.... Read More »

Turmoil pushes Porsche chief to forefront of potential CEO race at VW

11:14 am U.S. ET | April 14, 2015

A rift between Volkswagen AG's two most senior executives threatens to create a power vacuum that's set to hasten the search for a new leader. Matthias Mueller, who oversees the Porsche sports-car division, may hold the best cards with his background in engineering and operational experience.... Read More »

Is Germany making too many luxury cars?

8:39 am U.S. ET | April 14, 2015

Massive sales gains present some tricky terrain for a luxury brand. The appeal of a German-born luxury car, at least in part, is the air of exclusivity. So how do Germany's car bosses deal with that potential stigma?... Read More »

VW brand sales fall nearly 1% in March on weak Russia, Brazil

April 14, 2015 12:46 CET

Volkswagen Group said sales of its core VW brand fell 0.9 percent last month. "Demanding" conditions in South America, especially Brazil, along with the Russian market slump, impacted deliveries, according to sales and marketing chief, Christian Klingler.... Read More »

VW Beetle, CC to live on after redesigns

12:01 am U.S. ET | April 13, 2015

Despite low sales volumes, the Volkswagen Beetle and CC will see new life - and sheet metal - when they're redesigned within the next three years. But the niche Volkswagen Eos will be cancelled to streamline VW's lineup.... Read More »

Audi's car sales rise to monthly record as U.S. surge offsets weaker Europe, China

April 13, 2015 12:30 CET

Audi said its vehicle sales increased 4.4 percent in March to 177,950, the highest level for any month in the carmaker's history, as surging volume in the U.S. offset a slowing Europe and China and a decline in Russia.... Read More »

Valeo says Audi will use its supercharger to reduce lag and save fuel

April 13, 2015 06:01 CET

Valeo says other automakers likely will follow Audi in using its electric supercharger that boosts an engine's acceleration while also saving fuel. The supplier said Audi will launch a production car with the supercharger next year.... Read More »

Hyundai beats VW, Buick as China’s top-ranked mass-market auto brand

7:10 am U.S. ET | April 13, 2015

Hyundai Motor beat Volkswagen and Buick to be the top-ranked mass-market auto brand in China in a state-backed survey, even as the South Korean automaker’s deliveries there fell in the first quarter.... Read More »

M-B may take on TT, Panamera, report says

12:01 am U.S. ET | April 13, 2015

Mercedes-Benz may launch rivals to the Audi TT sports car and Porsche Panamera, a German auto magazine said. The two cars would be developed by the brand's AMG performance division, Auto Motor und Sport reported.... Read More »

Still dancing the Continental

12:01 am U.S. ET | April 13, 2015

Soon both Lincoln and Bentley will have Continentals for sale, a fact that may lead to some legalistic conversations in the near future involving the two brands.... Read More »

Inventories stay level in March

12:01 am U.S. ET | April 13, 2015

Automakers have carefully controlled U.S. inventories since the scary days of the recession, but they started April with textbooklike perfection.... Read More »

Wolfgang Porsche backs VW chief Winterkorn after Piech's criticism

9:49 am U.S. ET | April 12, 2015

VW board member Wolfgang Porsche threw his support behind Volkswagen CEO Martin Winterkorn two days after his cousin and VW Chairman Ferdinand Piech publicly criticized the chief executive. The comments by Porsche indicates that Piech, who has spent almost 22 years at the helm of VW, nine as CEO, may be isolated within the supervisory board.... Read More »

VW board members back Winterkorn after Piech criticism creates crisis

April 12, 2015 16:47 CET

Volkswagen Chairman Ferdinand Piech faces resistance within the automaker's supervisory board to his criticism of CEO Martin Winterkorn, deepening a leadership crisis at the automaker. Piech publicly withdrew his confidence in Winterkorn but major VW power players including the powerful works council, the state of Lower Saxony and Piech's cousin, Wolfgang Porsche, rallied to Winterkorn's side.... Read More »

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