SAIC Volkswagen starts building $2.5 billion China plant
Volkswagen’s China venture with SAIC Motor has started constructing a $2.5 billion new energy vehicle (NEV) plant in Shanghai, that will make automaker’s luxury Audi brand cars, a potential first for the venture. The new plant is a major step for Audi to diversify production of its cars in the world’s largest auto market from
- Published in Volkswagen
Volkswagen will offer buyer incentive to scrap older diesels
Volkswagen on Thursday stated it will offer trade-in incentives and a bonus for scrapping older diesel automobiles in Germany, in a move to stave off driving restrictions in polluted cities. The automaker will offer an incentive for consumers who agree to scrap diesel vehicles geared up with older euro 1 to euro 4 engines, the
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Volkswagen, Fiat Chrysler and Renault lead emissions-driven European sales decline
Volkswagen Group, Fiat Chrysler and Renault led a 23.4 percent European car sales reduction in September, the major regional industry body stated on Wednesday, as automakers still suffer from the introduction of stricter new emissions tests. Registrations dropped to 1.12 million cars in European Union and European Free Trade Association (EFTA) countries earlier month from
- Published in Chrysler, Renault, Volkswagen
Volkswagen names new head for America group
Volkswagen AG on Wednesday named a new head of its America group as the automaker looks forward to increase SUV sales amid weakening demand for cars. Scott Keogh, presently head of Audi of America, is going to become president and chief executive of Volkswagen Group of America as well as head of the Volkswagen brand
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Volkswagen is about to hire four banks for truck unit IPO
Volkswagen is near to hiring Citigroup, Deutsche Bank, Goldman Sachs and JP Morgan to assist with the possible stock market listing of its truck unit Traton, two people knowledgeable with the matter informed Reuters on Monday. Volkswagen stated last month that Traton should by year-end be in shape for a possible stock market listing, which
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Audi warns of sales fluctuation after 56 percent slump in Europe
Volkswagen’s premium brand Audi on Friday stated it expected sales in Europe to fluctuate in the upcoming months after a 55.5 percent fall in September sales because of supply bottlenecks caused by stricter anti-pollution rules. Last month VW Group’s sales dropped by half in Europe’s five biggest markets, as per analysts at Citi, after several
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Volkswagen terminates Audi CEO’s contract amid emissions investigation
Volkswagen has terminated Audi CEO Rupert Stadler’s contract against the backdrop of a criminal probe into whether he participated in emissions cheating by the German group. Munich prosecutors are probing Stadler and another member of Audi’s senior management for alleged fraud and misleading advertising associated to illegal emissions by its cars and manipulation of automobile
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Volkswagen has not planned to cover costs of diesel retrofits
Volkswagen is not prepared to cover the entire cost of hardware retrofits for older diesel vehicles in Germany, a source at Volkswagen stated, contrary to a deal announced by the German coalition parties on Tuesday. “If hardware retrofits are accepted by consumers, then we will participate (in the costs) to the extent agreed,” the person
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Volkswagen to cover some expenses of hardware retrofits for diesel cars
German automaker Volkswagen has agreed to cover some but not all of the expenses for hardware retrofits of diesel vehicles, Transport Minister Andreas Scheuer stated on Monday, adding the German coalition still required to decide how to plug the funding gap. “We have a commitment from Volkswagen for hardware retrofits,” Scheuer stated in a live
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Volkswagen to support retrofitting of older diesel vehicles in Germany
Volkswagen is prepared to support hardware retrofits for older diesel vehicles and provide incentives for drivers to swap some older diesel vehicles for recent ones, a person knowledgeable with the matter stated on Thursday. VW Chief Executive Herbert Diess vowed to support a solution to help fund installing more effective exhaust filters during a discussion
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Top German automakers stop sales of some plug-in hybrid cars in Europe
Volkswagen, BMW and Daimler-owned Mercedes-Benz have stopped sales of some of their plug-in hybrid cars in Europe following the new emissions regulations, Automotive News reported on Thursday. The new Worldwide Harmonized Light Duty Vehicles Test Procedure (WLTP) regime, that went into effect on September 1, gives higher CO2 readings compared to the old New European
- Published in BMW, Daimler, Volkswagen
Ford extends talks with Volkswagen and Mahindra to cut expenses
With its stock trading close to a 6-year low late last month, Ford Motor CEO Jim Hackett gathered the automaker’s top 300 executives close to its headquarters located in Michigan for a global leadership meeting. Hackett’s message: Ford should put in motion plans to restructure its business now in order to secure promised expenses savings,
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Volkswagen’s Porsche to stop offering diesel versions
Volkswagen’s Porsche is going to stop offering diesel versions of its vehicles, the unit stated on Sunday, refining its focus on hybrid and battery-powered vehicles instead. Volkswagen has confessed that they cheated on diesel emissions tests, sending shockwaves through the auto industries and resulting in a sector-wide crackdown on polluting diesel engines. “Porsche is not
- Published in Porsche, Volkswagen
Volkswagen rejects Trump envoy’s stand on Iran pullout
Volkswagen AG rejected on Thursday a report echoing it had decided against doing business in Iran after coming under pressure from Donald Trump’s ambassador to Germany, saying its stance on the country had not changed. U.S. sanctions against Iran, introduced by President Trump following his decision to pull the United States out of the Iran
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Volkswagen to end operations in Iran, states U.S. official
Volkswagen AG is going to end nearly of all its operations in Iran, Bloomberg reported on Wednesday, mentioning a U.S. official who led the discussions with the automaker. The Trump administration persuaded the automaker to adhere to U.S. sanctions on Iran, Bloomberg stated. The White House and Volkswagen were not available at the time for
- Published in Volkswagen