Hire offer needed: Europcar rebuffs Volkswagen bid valuing it at €2.2bn June 23, 2021 Car rental giant Europcar has rebuffed an offer from VW and Audi owner Volkswagen, according to reports, that values the hire firm at €2.2bn (£1.88bn).
Europe car sales pick up speed in March to erase early-year declines April 16, 2021 Europe’s monthly car sales leaped 63 per cent in March as markets overcame Covid restrictions to recover from a pandemic crash, according to new data. Registrations in the EU, EFTA and UK markets rose to 1.39 million year-on-year, data from industry association ACEA showed on Friday. The resurgence erased an early-year decline to shoot sales [...]
Screenshot: Will London ever be ready for tech IPOs? April 2, 2021 This week **Media Moment of the Week: Volkswagen’s awkward U-turn **Will London ever be ready for tech IPOs? **Amazon goes bonkers for bots Media Moment of the Week: Volkswagen’s awkward U-turn There are few things as grating as the forced joviality of April Fool’s Day and it should, in this writer’s opinion, be cancelled. That [...]
Missed the spark: Volkswagen share price dips following ‘Voltswagen’ April Fool’s joke April 1, 2021 Volkswagen’s share price fell today after the American arm of the company issued a false announcement claiming it was changing its name to ‘Voltswagen of America’. The stunt, which came just ahead of April Fool’s Day, was meant to call attention to its electric vehicle efforts. But the joke fell flat on social media, with [...]
Volkswagen to seek damages from former chairman over dieselgate March 26, 2021 Volkswagen today announced that it would seek damages from its former chairman Professor Marin Winterkorn, as well as former Audi chair Rupert Stadler, over its diesel emissions scandal. The crisis, which exploded when the firm admitted in 2015 it had rigged emissions tests in the US, has cost the car giant €32bn (£27.4bn) in fines [...]
Volkswagen sets 1m electric vehicle target as it outlines cost-cutting plan March 16, 2021 Volkswagen today said it aims to sell 1m electric or hybrid vehicles this year as the German car giant outlined plans to return to profitability through a cost-cutting plan. Sales of electric vehicles grew sharply last year, but the company is now targeting a rapid expansion that would see its deliveries more than double in [...]
VW strategy chief quits to pursue smart boats March 10, 2021 Volkswagen strategy chief Michael Jost is set to quit his role to pursue smart boat building with his family, a statement on his website said today. “Since 1996 I am leading a weekend marriage and family. Now corona has brought me home and we’ve realised that we can live together. I want to stay here. [...]
Volkswagen warns manufacturing costs set to rise as car demand collapses May 5, 2020 Volkswagen has warned that the car industry is likely to come under even more pressure as parts makers increase the prices of crucial components due to the coronavirus pandemic. Speaking to the Financial Times, Volkswagen’s board member for procurement Stefan Sommer said that some suppliers were raising prices to offset the fact that they are [...]
Volkswagen fitted cars with emissions test ‘defeat devices’, High Court rules April 7, 2020 The High Court has ruled today in favour of thousands of consumers that Volkswagen used a “defeat device” on some of its diesel cars which was able to cheat emissions tests. The vehicles affected were sold under Volkswagen, Audi, Seat and Skoda brands and were fitted with an EA 189 diesel engine. The ruling by [...]
Coronavirus:Volkswagen to cease production at European plants March 17, 2020 Car giant VW will stop its European factory production. This move, due to the impact of coronavirus, comes despite the company posting strong results for 2019. Shares in the firm are up slightly, hovering at €97.65. VW boss Herbert Diess, said: “the coronavirus pandemic presents us with unknown operational and financial challenges. He added 2020 [...]