Report: Audi to name interim CEO following arrest of Stadler

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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 […]

Volkswagen shareholder not supporting reelection of Wolfgang Porsche to board

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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 […]

Volkswagen and unions make headway in talks over turnaround plan

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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 […]

Volkswagen no longer anticipates tax demands in Germany concerning diesel scandal

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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 […]

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

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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 […]

Volkswagen states defeat device in conformity with European law

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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 […]

Volkswagen expects to lose 25,000 jobs

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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 […]

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, […]