Germany’s Audi has abandoned plans to sell its Italian motorcycle brand Ducati, its CEO Rupert Stadler stated, in a sign of confidence that the automaker anticipates to be able to bring the expenses of its transformation. Steps to lower costs by 10 billion euros ($ 11.8 billion), cut red tape and deepen ties with other
Volkswagen anticipates money outflows of 4-5 billion euros ($4.7-5.9 billion) next year in relation to the dieselgate emissions cheating scandal, the automaker’s Chief Financial Officer Frank Witter told reporters on Monday. “I am not relaxed with regard to the diesel problem,” Witter stated. The figure is below the up to 17 billion euros in outflows
German trade union IG Metall on Monday stated a first round of wage talks at Volkswagen failed to produce a result, adding it was dissatisfied the automaker did not present a counter-offer to its need for a 6-percent wage hike. “The fact that Volkswagen is doing so well in spite of the diesel concern is,
Italy’s Investindustrial is not in discussion about boosting its stake in Aston Martin and no decision has been made on a possible stock market listing for the British automaker, the private equity group stated, rejecting an earlier newspaper report. Italian daily Il Messaggero had reported on Sunday that the fund was in sophisticated negotiations to
Volkswagen executive Oliver Schmidt, convicted in the United States last week for his role in the German automaker’s emissions scandal, can ask to serve his prison sentence in Germany, German weekly Welt am Sonntag reported, pointing out sources close to Schmidt. The paper stated such a request would have to be authorized by the U.S.
Truck and construction devices maker AB Volvo stated on Friday it had appointed Martin Weissburg, presently head of Volvo’s construction equipment arm, to head its Mack Trucks brand. Weissburg has had a considerable successful four-year tenure as head of Volvo Construction Equipment (VCE), which represents around a fifth of Volvo’s overall sales, and has reported
Volkswagen stated on Friday it had stopped providing the T6 multivan to dealers after discovering that the diesel model released excessive nitrogen oxide levels and had reported the findings to Germany’s automotive watchdog (KBA). Previously on Friday German publication Der Spiegel, without recognizing the source of its info, reported that automaker’s tests had shown that
Russia’s standards agency Rosstandart said on Friday it had been informed about the recall of 30,777 Volkswagen Polo cars sold in Russia in 2015-2017. The vehicles were being recalled due to a defect which might prevent the engine starting, Rosstandart said.
A U.S.-based Volkswagen executive who supervised emissions issues was sentenced to seven years in jail and fined $400,000 by a judge on Wednesday for his role in a diesel emissions scandal that has actually cost the automaker about $30 billion. The prison sentence and fine for the executive, Oliver Schmidt, were the highest possible under
Munich prosecutors have opened an initial inquiry into accusations made this week by Germany’s main environmental lobby group that a BMW diesel model is adjusted with engine software efficient in cheating on emissions tests. BMW’s 3-Series 320d vehicle, designed to abide by the latest Euro 6 emission standards, was discovered to have breached permitted nitrogen
BMW expects the sales of electric and hybrid vehicles to rise next year, its research and development chief stated as the premium automaker races to overtake competitors such as Tesla Inc. Sales in 2018 will surpass a 2017 sales target of 100,000 vehicles by a medium double-digit percentage, Klaus Froehlich stated at an event, without
Lamborghini revealed its first sport-utility vehicle (SUV) on Monday, as the Volkswagen-owned luxury sportscar brand aims to obtain a share of a fast-growing market. Produced at its Sant’Agata Bolognese headquarters located in Italy, Lamborghini thinks the model could double its yearly sales volumes, which stood at 3,457 in 2016. Called the Urus, which connects to
BMW has rejected that engine management software turned off a system filtering nitrogen oxides (NOx) emissions in a few of its diesel vehicles after a German environmental group said that a 3-Series estate car in a series of road tests discharged quantities of NOx which were seven times above the legal limit. The 2-litre, 320d
BMW on Monday turned down a media report that said the software in particular diesel models turned off a gas filtering system in specific road conditions, causing extreme nitrogen oxide (NOx) emissions. German broadcaster ZDF’s program WISO and Tagesspiegel had earlier reported that tests by German environmental lobby group DUH revealed that the BMW 320d
Volkswagen has revealed an all-electric minibus to target metropolitan consumers who prefer to spend for the use instead of owning a vehicle, enhancing the German company’s push into brand-new kinds of online-controlled personal transport services. Volkswagen’s new MOIA “mobility services” department on Monday announced plans for a fully electric international ride-pooling service that intends to