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WOLFSBURG, Germany – Volkswagen needs to come up with a new structure before thinking about appointing a permanent chairman, the powerful labour chief at Europe’s biggest carmaker said in an interview, reported Reuters. For the first time in more than two decades, Volkswagen no longer has Ferdinand Piech at the helm, a corporate scion who controlled ... Read More »
Read More →Volkswagen’s Audi luxury division said on Friday sales increased 2.5 percent in April to 152,850 cars and sport-utility vehicles, the highest-ever level recorded for any month in the carmaker’s history, reported Reuters. Sales in Europe edged up 0.9 percent as gains in Italy and Spain offset a 42 percent slump in deliveries in Russia to ... Read More »
Read More →Volkswagen said it would try to find a new chairman quickly and announced a long-planned tie-up of its truck brands, seeking to return the focus to business following the carmaker’s shock ouster of former patriarch Ferdinand Piech, reported Reuters. Chief Executive Martin Winterkorn, who survived the public showdown that triggered Piech’s resignation last month, told ... Read More »
Read More →On April 16, the tables turned on Ferdinand Piech, the powerful patriarch of Volkswagen AG, reported The WSJ. For years, he had dominated the automotive giant his grandfather established. But in a meeting with other board members at his family estate in Salzburg, Austria, Mr. Piech didn’t simply fail to win support for his effort ... Read More »
Read More →Volkswagen AG Chairman Ferdinand Piech may have lost the battle to oust Chief Executive Martin Winterkorn, but the war isn’t over, reported The WSJ. Key members of VW’s supervisory board Friday proposed extending Mr. Winterkorn’s contract, one week after Mr. Piech expressed a lack of confidence in the CEO and threw his future into doubt. ... Read More »
Read More →Volkswagen has plunged into a full-blown leadership crisis after Chief Executive Martin Winterkorn let it be known on Saturday he will fight for his job even though the carmaker’s chairman has reportedly withdrawn confidence in the CEO, reported Reuters. Ferdinand Piech, who has spent almost 22 years at the helm of VW, nine as CEO, ... Read More »
Read More →Volkswagen entered into a partnership with Chrysler in 2008 to help the German maker fill its void in the minivan segment in the U.S. Now that partnership is giving VW a headache as it’s recalling nearly 21,000 of the minivans for the second time, reported The Detroit Bureau. VW is recalling them again to fix ... Read More »
Read More →Volkswagen stuck to its guidance for operating profit after posting record earnings last year on double-digit gains in sales of luxury Audi and Porsche models, reported Reuters. Europe’s largest carmaker said on Friday the group operating margin could come in a range between 5.5 percent and 6.5 percent, same as last year’s projection. Operating profit ... Read More »
Read More →Audi outsold Mercedes-Benz in January as demand in China and the United States helped Volkswagen’s flagship division post record sales and analysts said the lead over its German rival may widen, reported Reuters. Audi said on Monday sales rose 10 percent last month to 137,700 cars and sport-utility vehicles with the world’s two largest car ... Read More »
Read More →Volkswagen’s flagship Audi division is to increase spending on new models, plants and technology through 2019 to push its goal of surpassing German rival BMW as the world’s largest luxury-car manufacturer, reported Reuters. Audi, which contributes 40 percent of operating profit at Europe’s biggest automotive group, said on Saturday it will push up investment in ... Read More »
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