FRANKFURT (Reuters) – BMW (BMWG.DE) reported a smaller-than-expected 6 percent decline in second quarter operating profit on Thursday while brushing off concerns about new anti-pollution rules and global trade tensions which caused rival Daimler (DAIGn.DE) to warn on profits. FILE PHOTO: The logo of German car manufacturer BMW is seen on the bonnet of a… Continue reading BMW beats second-quarter forecasts as new anti pollution rules dent rivals
Tag: VW
Volkswagen says new emission tests pose biggest threat
Sean Gallup/2017 Getty Images Sean Gallup/2017 Getty Images Related content LONDON (CNNMoney) – Global trade tensions have put automakers under pressure. But Volkswagen says new emission tests in Europe pose the biggest threat to its business. “We cannot rest on our laurels because great challenges lie ahead of us in the coming quarters — especially… Continue reading Volkswagen says new emission tests pose biggest threat
Volkswagen says WLTP could cause burden of more than 1 bln eur.
FRANKFURT, Aug 1 (Reuters) – Resolving bottlenecks caused by tougher emissions rules could cost Volkswagen more than 1 billion euros, Chief Financial Officer Frank Witter said on Wednesday. The auto industry is struggling to adapt its vehicles to meet the new Worldwide Harmonized Light Duty Vehicles Test Procedure, known as WLTP, which takes effect from… Continue reading Volkswagen says WLTP could cause burden of more than 1 bln eur.
VW CEO says anti-pollution rules may hit profits, car sales
FRANKFURT (Reuters) – Volkswagen Group’s (VOWG_p.DE) Chief Executive Herbert Diess warned that new anti-pollution tests pose a risk to the carmaker’s profit targets. VW has warned that production of up to 250,000 cars will be delayed as it struggles to adapt its vehicles to a new anti-pollution test, the Worldwide Harmonized Light Duty Vehicles Test… Continue reading VW CEO says anti-pollution rules may hit profits, car sales
Volkswagen mulls own production of battery cells in Europe
WOLFSBURG, Germany (Reuters) – Volkswagen (VOWG_p.DE) is eyeing producing its own solid state battery cells, with possible serial production from 2024 or 2025, its chief executive said on Wednesday. A Volkswagen logo is pictured during the Volkswagen Group’s annual general meeting in Berlin, Germany, May 3, 2018. REUTERS/Axel Schmidt “We must not make ourselves dependent… Continue reading Volkswagen mulls own production of battery cells in Europe
BMW to build 1 billion euro car factory in Hungary
FRANKFURT/BUDAPEST (Reuters) – BMW (BMWG.DE) said it is investing 1 billion euros ($1.17 billion) in a new car factory in eastern Hungary, a project that could contribute to the country’s growth and strengthen its position as a centre for premium car manufacturing in the region. FILE PHOTO: The BMW logo is seen on a vehicle… Continue reading BMW to build 1 billion euro car factory in Hungary
Volkswagen to name company insider as COO: source
HAMBURG (Reuters) – Volkswagen (VOWG_p.DE) is set to name Ralf Brandstaetter, the procurement chief of its core VW brand, as its group Chief Operating Officer, a person familiar with the matter said. FILE PHOTO: A Volkswagen logo is pictured during the Volkswagen Group’s annual general meeting in Berlin, Germany, May 3, 2018. REUTERS/Axel Schmidt/File Photo… Continue reading Volkswagen to name company insider as COO: source
European auto stocks soar after Trump-Juncker ‘ceasefire’
Car stocks got a boost Thursday following the meeting between the U.S. and European Union that earned automakers in the region a reprieve from higher import tariffs.
Suspected of tax evasion: “Nest egg” ex-VW boss Winterkorn alarmed the investigators
Ex-VW boss Martin Winterkorn The former car manager wanted to save millions to Switzerland. (Photo: AP) Zurich, Düsseldorf is the classic behavioral pattern of men who do not do good. “Asset protection” tax specialists call such transfers, as they Martin Winterkorn in the past two years. The “Picture on Sunday” reported from investigation filesthat the… Continue reading Suspected of tax evasion: “Nest egg” ex-VW boss Winterkorn alarmed the investigators
Portrait of VW Works Council: Bernd Osterloh – the last representative of Volkswagen’s old corporate culture
WolfsburgAnd then Alexander Wilke tells the trick with the underground car park. Wilke is in front of 300 works councils of the VolkswagenGroup, without suit, but in jeans and with gray mottled hair. He can talk, and he can also be suspenseful. Wilke, head of communications at Thyssen-Krupp, accompanied the cultural change there and should… Continue reading Portrait of VW Works Council: Bernd Osterloh – the last representative of Volkswagen’s old corporate culture