Volkswagen said to favor China's FAW for budget brandMay 14, 2013 15:34 CET  Volkswagen favors launching a planned budget brand in China with local joint-venture partner FAW, sources said. VW aims to introduce the low-cost marque in about three years and may eventually expand it to more than one model.... Read More »
Audi's new Mexico SUV plant aimed at unseating BMWMay 3, 2013 06:01 CET  Audi executives plan to break ground on a $1.3 billion factory in Mexico with a capacity of some 150,000 cars a year. The plant will be instrumental in Audi's push to topple BMW as the world's No. 1-selling premium automaker.... Read More »
Toyota's 10 million plan: Common parts, r&dMay 3, 2013 06:01 CET  Toyota President Akio Toyoda is banking on an overhauled r&d strategy to kick the company his grandfather founded into growth mode after four years of crises. The strategy will help boost Toyota's global sales beyond 10 million units a year.... Read More »
VW plans fuel-saving 10-speed transmissionMay 1, 2013 06:01 CET  Volkswagen is developing a 10-speed dual-clutch transmission to help reduce fuel consumption, CEO Martin Winterkorn said. The transmission is one of a number of drivetrain technologies that the automaker is focusing on for the mid- and long term, he said.... Read More »
Porsche says 12 additional hedge funds withdraw U.S. suit appealMay 1, 2013 06:01 CET  Porsche SE says an additional 12 hedge funds have dropped a U.S. court appeal in a market manipulation suit focusing on the company's failed attempt to takeover Volkswagen in 2008.... Read More »
VW eyes China growth to ease pain in EuropeApril 30, 2013 06:01 CET  Volkswagen expects sales in China this year to outpace total sales volume in the market, which the carmaker believes will increase 6 percent to 8 percent. In Europe, the automaker remained resilient to a recession in its home region as high-end sales from its newly-intergrated Porsche unit help offset a drop in deliveries at the carmaker's core mass-market brand.... Read More »
Porsche SE is optimistic of prospects in German investor lawsuitsApril 30, 2013 11:04 CET  Porsche SE, the family-owned company that controls a majority stake in Volkswagen, remains confident of success in lawsuits in a German court over alleged market manipulation during a failed takeover of VW in 2008.... Read More »
VW says 2013 will be tough, eyes H2 upturnApril 25, 2013 10:34 CET  VW Group is bracing itself for a tough year ahead, though the automaker believes business may improve in the second half as non-European markets keep growing. The automaker plans to tap into these markets by adding an additional 1,500 sales outlets in the medium term.... Read More »
VW will expand China lineup 29% in sales pushApril 19, 2013 11:04 CET  Volkswagen plans to expand its lineup by 29 percent in China to offer 90 cars, SUVs, vans and heavy trucks in the country. China is a key market for VW in its drive to take the industry's global top spot in five years.... Read More »
VW profit lead over Toyota under threat as demand wobbles 12:01 am U.S. ET | March 18, 2013  VW CEO Martin Winterkorn achieved the company's goal of surpassing rivals GM and Toyota in profit in 2012 but this year's race will be tighter as Toyota bounces back.... Read More »
VW profit lead over Toyota under threat as demand wobblesMarch 18, 2013 06:01 CET  VW CEO Martin Winterkorn achieved the company's goal of surpassing rivals GM and Toyota in profit in 2012 but this year's race will be tighter as Toyota bounces back.... Read More »
VW shares worth 929 million euros put on sale by Deutsche BankMarch 15, 2013 11:04 CET Deutsche Bank put on sale a block of about 5.8 million Volkswagen AG preferred shares for as much as 929 million euros ($1.21 billion) in an accelerated bookbuilding.... Read More »
Winterkorn open to further VW acquisitionsMarch 15, 2013 06:01 CET  VW Group remains open to making further acquisitions, though the German group has its work cut out integrating its 12 brands, CEO Martin Winterkorn said. "We are currently well positioned with 12 brands, but there are always opportunities that one cannot pass up," Winterkorn said.... Read More »
VW, BMW predict 'difficult' 2013 on Europe slump, China slowdownMarch 15, 2013 06:01 CET VW Group and BMW Group predicted a "difficult" 2013 as the European auto market contracts, vehicle prices in the region drop and growth in China slows. VW CEO Martin Winterkorn said the automaker is confronting "tougher competition and difficult economic conditions." BMW CEO Norbert Reithofer sees conditions as "likely to remain challenging in many markets."... Read More »
VW CEO Winterkorn pans hydrogen fuel cells 3:53 pm U.S. ET | March 14, 2013  Hydrogen fuel cells have failed to live up to promises and are unlikely to become a cost-effective way to power cars in the near future, Volkswagen AG CEO Martin Winterkorn said today.... Read More »
VW targets hike in U.S. sales, China output to counter Europe slump 6:04 am U.S. ET | March 14, 2013  VW is counting on growth in China and the United States, along with gains in the luxury-car market with the Audi brand, to help offset declining demand in Europe amid a recession. The strategy to boost output in China 60 percent -- outlined today -- would increase the number of Volkswagen's auto plants in the country to 19.... Read More »
VW targets 60% rise in China production by 2018March 14, 2013 12:04 CET  VW Group plans to increase production 60 percent by 2018 in China, where the German company's earnings last year rose more than 40 percent to 3.7 billion euros, the carmaker said today.... Read More »
Automaker chiefs urge end to European austerityMarch 6, 2013 09:49 CET  Automakers joined growing opposition to Europe's austerity measures. Renault CEO Carlos Ghosn urged government spending to revive the region's anemic sales, which he forecast won't recover for another three years.... Read More »
New Opel CEO Neumann stands behind rescue planMarch 4, 2013 06:01 CET  New Opel CEO Karl-Thomas Neumann is standing behind Opel's restructuring. Neumann has seen the Drive 2022 plan and wants to implement it without major changes, sources close to Opel said. Opel was the major contributor to parent General Motors' $1.8 billion operating loss in Europe last year.... Read More »
VW cuts bonuses to German workers by 4%Feb. 27, 2013 14:36 CET  Volkswagen will pay its German workers a 7,200-euro ($9,400) bonus for 2012, a reduction of 4 percent on the previous year's payout despite posting record profits and sales last year.... Read More »
GM denies reports of proposed hike in CEO Akerson's 2013 payFeb. 26, 2013 02:11 CET  GM today strongly denied several media reports that it has requested an increase in CEO Dan Akerson's 2013 compensation. Akerson's pay last year of $11.1 million ended up being higher than the $9 million originally requested primarily because he received restricted stock units that were earned in 2011, a GM official who requested anonymity said. General Motors is proposing to pay CEO Dan Akerson $11.1 million this year, according to a document obtained by Bloomberg News.... Read More »
VW board cuts Winterkorn's 2012 payFeb. 25, 2013 06:01 CET  The VW supervisory board has taken steps to limit bonuses for CEO Martin Winterkorn and other top executives.... Read More »
Volkswagen CEO Winterkorn to take 20% pay cut, report saysFeb. 17, 2013 13:16 CET  Volkswagen CEO Martin Winterkorn will be paid 14 million euros ($18.7 million) for 2012, 20 percent less than the previous year, a German magazine reported.... Read More »
Has VW discovered the Holy Grail of carmakers? 2:17 am U.S. ET | Feb. 11, 2013  Ulrich Hackenberg isn't yet a household name but if Volkswagen's $70 billion bet on his big idea pays off, he may join the likes of Henry Ford, Alfred Sloan and Taiichi Ohno in the canon of auto industry pioneers.... Read More »
Has VW discovered the Holy Grail of carmakers?Feb. 11, 2013 08:17 CET  Ulrich Hackenberg isn't yet a household name but if Volkswagen's $70 billion bet on his big idea pays off, he may join the likes of Henry Ford, Alfred Sloan and Taiichi Ohno in the canon of auto industry pioneers.... Read More »
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