October 26, 2020

    Daily Auto News, Luxury Cars, Photos, Prices, Spy Shots, Videos, Incidents and more
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    Volkswagen pays employees 4,750 euros bonus for 2018

    German automaker Volkswagen is set to pay around 100,000 workers on collective wage deals a 2018 bonus of 4,750 euros ($5,400) each, the largest such payout since 2015 when they got 5,900 euros, a newsletter to staff stated on Tuesday. Works council chief Bernd Osterloh stated production programs had been modified and shifts re-allocated as […]

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    Report: Audi to name interim CEO following arrest of Stadler

    Volkswagen’s premium brand Audi is going to appoint an interim chief executive as current boss Rupert Stadler was arrested earlier on Monday, Germany’s Frankfurter Allgemeine Zeitung reported, without mentioning any sources. The appointment is going to be made at a supervisory board meeting convened at short notice on Monday, the paper stated. Munich prosecutors, who […]

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    Volkswagen shareholder not supporting reelection of Wolfgang Porsche to board

    A major Volkswagen shareholder is prompting investors to vote against the reelection of Wolfgang Porsche as a member of the automaker’s supervisory board at its annual general meeting (AGM), a German newspaper noted on Sunday. The shareholder, Christian Strenger, alleged Porsche of “ongoing conflicts of interests” as he is also chairman of the board of […]

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    LG Chem rejects reports of $6.2 billion Volkswagen battery deal

    Battery maker LG Chem Ltd rejected a media report that it has signed a 7 trillion won ($6.20 billion) deal to provide electric vehicle batteries for Volkswagen. The DongA Ilbo reported on Tuesday that LG Chem would be the battery provider for Volkswagen’s Modular Electric Drive project. The report did not mention any direct sources. […]

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    Volkswagen to unveil self-driving car in Geneva Motor Show

    Volkswagen will flaunt a totally self-driving vehicle at the Geneva Motor Show, as part of the automaker’s drive to be at the leading edge of new technologies following its diesel emissions scandal. The automaker has stated it will invest billions of euros in electric vehicles, ride-hailing and automatic driving, and launch more than 30 electrical […]

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    Volkswagen and unions make headway in talks over turnaround plan

    Volkswagen‘s labor employers and top executives are advancing in talks to deal with a conflict over the implementation of a turnaround plan, both sides stated, without elaborating. Labour leaders at Volkswagen previously this month stopped cooperation with management on concerns including overtime work, performance gains and apprenticeships and alleged executives of aiming to squeeze greater […]

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    Ex-Volkwsagen director Berthold Huber says could sue Piech over diesel claims

    Berthold Huber, who served on Volkswagen‘s supervisory board executive committee till November 2015, stated he was not notified by then-Chairman Ferdinand Piech about automaker’s diesel emissions cheating in the United States. “I can swear in any court in the world that Piech did not talk to me about the matter, neither in person nor in […]

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    Volkswagen no longer anticipates tax demands in Germany concerning diesel scandal

    Volkswagen does not anticipate the German government to make tax demands to cover income losses related to the automaker’s diesel scandal, a company spokesperson stated on Saturday. In Germany, motor vehicle taxes are connected to the volume of carbon dioxide emissions, and other things. VW, Europe’s biggest automaker, has admitted using emissions-cheating software application in […]

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    Volkswagen group sales increased 4.7 percent in October, third straight monthly gain

    Volkswagen group sales increased 4.7 percent in October, the third straight monthly increase, powered by gains at all of the automaker’s volume and high-end brand names. Group shipments consisting of the Audi, Porsche and Skoda nameplates boosted to 870,300 automobiles from 831,300 a year previously, Volkswagen stated on Friday. Ten-month registrations were up 2.6 percent […]

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    Volkswagen states defeat device in conformity with European law

    Volkswagen stated that the use of defeat devices, that allowed the automaker’s diesel automobiles to evade emissions guidelines, does not breach European law, as the automaker intends to strengthen its legal defenses in view of a possible increase in settlement claims in its home. The European Commission has been increasing the pressure on Volkswagen to […]

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    Volkswagen board going to discuss brand overhaul on November 4

    The supervisory board of Volkswagen will hold a remarkable conference on Friday, November 4, to speak with on an extensive restructuring of the automaker, two supervisory board sources informed Reuters. Management and labour leaders are presently looking for to reach agreement on expense cuts and technique in time for a November 18 conference of the […]

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    Volkswagen expects to lose 25,000 jobs

    Europe’s biggest vehicle producer Volkswagen says a shift to electrical vehicles will require the automaker to slash 25,000 job openings in the coming years, the Frankfurter Allgemeine Zeitung paper reported, mentioning the automaker’s head of personnels. As cars with electrical motors are developed from fewer parts than cars with combustion engines, “we will require less […]

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    Volkswagen Brand Profit Dives, Porsche Lifts Automaker

    Profits at Volkswagen‘s core brand name plunged over a half in the 3 months through September, showing up the pressure on the German automaker to strike a huge cost-cutting deal with its effective works council. Europe’s most significant car manufacturer is still fighting with the fallout from its admission more than a year ago that […]

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    VW has repaired less than 10 percent of rigged European diesel cars

    Volkswagen is making slow development on repairing automobiles geared up with illegal engine software application in Europe, having actually repaired less than 10 percent of the 8.5 million affected designs, the company stated on Monday. Germany’s KBA motor vehicle authority has actually approved proposed repairs that would resolve the issue in about 5.1 million vehicles, […]

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    Volkswagen has no plans for trucks unit IPO until 2019

    Volkswagen has no strategies for a public listing of its trucks business, until 2019, a source stated on Tuesday, citing senior managers at the automaker. Some analyst had actually speculated that Volkswagen might sell or drift its truck operations to help raise funds as the automobile maker is going to become a global force in […]

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