Volkswagen profits hurt by ‘painful’ new anti-pollution rules and China downturn October 30, 2018 Volkswagen profits dropped by 18.6 per cent in the third quarter as the German car manufacturer struggled with new emissions testing rules and slower vehicle sales. The figures The German carmaker's underlying profit for the third quarter was €3.5bn (£3.1bn), down from €4.3bn in the same period in 2017. Vehicle sales also dropped 3.6 per [...]
How to capitalise on the electric car revolution October 23, 2018 Electric vehicles have existed since 1828, and yet their prevalence in popular society has remained the stuff of science fiction for more than two centuries. It’s only recently that electric cars have become commonplace, helped partly by government policies – such as the planned ban on the sale of new petrol and diesel vehicles by [...]
Pilfered pens and fudged expenses could foreshadow an ethics scandal October 18, 2018 Are UK employees the least ethical in Europe? The Institute of Business Ethics’ 2018 Ethics at Work Survey seems to indicate so. Brits appear to take a more lenient approach than the average European employee to questionable workplace practices. We asked employees about their attitudes to ethical issues in the workplace, ethical practices in their [...]
Regulator hits Audi with €800m fine for diesel emissions offences October 16, 2018 German prosecutors fined Audi €800m (£702m) today for breaking regulatory rules on V6 and V8 diesel engine emissions. Audi accepted the fine, admitting responsibility for failing to correctly monitor the engines’ emissions. Read more: Volkswagen deliveries drop as new emissions testing hits In a statement, the company warned the penalty would “significantly undercut major financial [...]
Volkswagen car deliveries drop nearly 20 per cent as new emissions testing hits October 9, 2018 The number of cars delivered by Volkswagen fell nearly 20 per cent last month due to the introduction of new emissions testing rules, the manufacturer said. A total of 485,000 vehicles were delivered throughout the world in September, 18.3 per cent down on the same month last year, with Europe experiencing a severe fall following the introduction of the [...]
BMW warns of falling profits as trade and regulation pressures bite September 25, 2018 BMW has warned its 2018 profits will fall and lowered its guidance for car profit margins, as the German car manufacturer wrestles with competition, rising costs and new rules on emissions. The group pinned its problems on several factors, including international trade conflicts, which it said were “distorting demand more than anticipated and leading [...]
EU to investigate whether BMW, VW and Daimler colluded over clean-car technology September 18, 2018 The EU is investigating BMW, Volkswagen and Daimler over allegations they may have colluded to thwart the development of clean-emission technology for cars. The probe relates to claims the car giants may have agreed not to compete against each other on the development and roll-out of technology aimed at reducing harmful emissions from petrol and [...]
Volkswagen drives truck and bus division IPO plans forward September 17, 2018 Volkswagen is pushing ahead with proposals for a stock market listing of its truck and bus division with an aim to be market ready by the end of the year, the car manufacturer announced today. Traton Group, which owns brands such as Man and Scania, will bring a team of investment banks and legal advisors on board to prepare the potential [...]
End of the road: Volkswagen will stop making iconic Beetle September 14, 2018 Volkswagen has announced it is to stop making its iconic Beetle car next year, ending nearly seven decades of production. The American branch of the international car manufacturer has said that the Mexican manufacturing plant that makes the iconic vehicle will cease production of the Beetle in 2019. Two special editions of the car will be released next [...]
Volkswagen’s board backs extension of chief exec Martin Winterkorn’s contract September 3, 2015 Volkswagen yesterday proposed the extension of chief executive Martin Winterkorn’s contract until the end of 2018, proving that he has the company’s backing following a high-profile power struggle with former chairman Ferdinand Piech, who was ousted earlier this year. The executive committee of the supervisory board of the German car manufacturing giant unanimously voted in [...]