German auto sector could experience some decline if Trump announces tariffs

Berlin

Germany’s automotive sector could drop as much as 12% over “three bad trading days,” if the US President Donald Trump imposes tariffs on European automakers, one analyst informed CNBC. Trump has until Friday midnight (Washington time) to decide if he should impose duties on auto imports. This would possibly damage Germany, the EU’s traditional growth engine, since […]

Judge questions SEC on delay in filing Volkswagen civil suit

Volkswagen logo

A federal judge on Friday asked the U.S. Securities and Exchange Commission on the timing of its civil suit submitted in March alleging Volkswagen AG of defrauding investors and demanded the agency describe its rationale. Volkswagen was caught using illegal software to evade U.S. pollution tests in 2015, causing a global backlash against diesel vehicles […]

VW wins worker support for restructuring with $1.1 billion battery plan

Volkswagen brand logo

Volkswagen workers supported a restructuring of Volkswagen on Tuesday after CEO Herbert Diess vowed to spend 1 billion euros ($1.1 billion) on a new battery cell production plant close to its headquarters in Lower Saxony. Diess requires the support of Volkswagen’s powerful unions as he tries to slim down and simplify the German company, that […]

Turkey’s auto production almost 490,000 in first quarter

Ankara city

A total of 489,429 vehicles were produced across Turkish automotive industry production lines in the first four months of this year, the Automotive Manufacturers Association (OSD) reported on May 11. The nation’s auto production- consisting of automobiles, commercial vehicles, and tractors- dropped 13% year-on-year in the January-April period. The association stated automobile production in Turkey also declined 14% to […]