Volkswagen AG

Volkswagen AG engages in the production and sale of passenger cars and light commercial vehicles. The firm also develops vehicles and components for the brands of the group. It operates through following segments: Passenger Cars and Light Commercial Vehicles, Commercial Vehicles, Power Engineering, and Financial Services. The Passenger Cars and Light Commercial Vehicles segment includes the development of vehicles, engines and vehicle software, the production and sale of passenger cars and light commercial vehicles, and the corresponding genuine parts business. The Commercial Vehicles segment covers the development, production, and sale of trucks, and buses, and the corresponding genuine parts business and related services. The Power Engineering segment deals with the development and production of large-bore diesel engines, turbomachinery, and propulsion components business. The Financial Services segment involves dealer and customer financing, leasing, banking, insurance, and fleet management services. The company was founded on May 28, 1937 and is headquartered in Wolfsburg, Germany.

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Volkswagen AG engages in the business of developing vehicles and components for the brands of the group. It operates through the following segments: Passenger Cars and Light Commercial Vehicles; Commercial Vehicles; Power Engineering; and Financial Services. The Passenger Cars and Light Commercial Vehicles segment includes developing vehicles, engines, and vehicle software; producing and selling passenger cars and light commercial vehicles; and the corresponding genuine parts business. The Commercial Vehicles segment focuses on trucks, buses, corresponding genuine parts business, and related services. The Power Engineering segment is involved in large-bore diesel engines, turbomachinery, and propulsion components business. The Financial Services segment provides dealer and customer financing, leasing, banking, insurance, and fleet management services. The company was founded on May 28, 1937 and is headquartered in Wolfsburg, Germany.

Volkswagen wants its workforce to take pay cuts of 10% in order to remain competitive and safeguard jobs, the company said in a statement on Thursday.

Volkswagen calls for 10% pay cuts

Volkswagen has proposed to cut wages at its brand by 10% to tackle weak demand and high costs, the division's personnel chief Arne Meiswinkel told journalists after the second round of talks with unions.

VW proposes 10% pay cut to tackle crisis

Volkswagen AG (OTCPK:VWAGY) Q3 2024 Earnings Conference Call October 30, 2024 4:00 AM ET Company Participants Pietro Zollino - Head of Corporate Communications & Deputy Head of Group Communications Rolf Woller - Head of Group Treasury & Investor Relations Arno Antlitz - CFO and COO Conference Call Participants Jose Asumendi - JPMorgan Patrick Hummel - UBS Tim Rokossa - Deutsche Bank Horst Schneider - Bank of America Securities Henning Cosman - Barclays Tom Narayan - RBC Capital Markets Stephen Reitman - Bernstein Michael Tyndall - HSBC Daniel Schwarz - Stifel Michael Punzet - DZ Bank George Galliers - Goldman Sachs Operator Ladies and gentlemen, welcome to the Volkswagen AG Investor Analyst and Media Call 9 Months 2024. I am George, the Chorus Call operator.

Volkswagen AG (VWAGY) Q3 2024 Earnings Call Transcript

Volkswagen's current undervaluation presents a significant upside, with potential returns of over 20% annually, driven by improved KPIs and strategic adjustments. Despite challenges, VW's fundamentals remain strong, with a BBB+ rating, low long-term debt, and a well-covered dividend, making it a solid investment. The company is transitioning in 2024, focusing on balancing ICE and EV investments, cutting capacity, and expanding in North America for future growth.

Volkswagen: Why The Decline(s) Do Not Bother Me

Germany's automotive industry is facing an increasingly difficult outlook. Volkswagen may close factories in Germany for the first time, and BMW and Mercedes-Benz are struggling.

Volkswagen stumbles in China as Germany's auto giants struggle to compete in the EV race

Drop comes as carmaker faces battle with unions over plan to shut three factories in Germany

Volkswagen hit by 60% fall in profits as sales in China slump

The German car maker reported a sharp 12% drop in its sales in China as it said it profits were hit by higher fixed costs and €2.2 billion worth of restructuring expenses

Volkswagen CFO says 64% drop in profits shows ‘urgent need' for cost cuts

Volkswagen Group (XETRA:VOW) underlined the depth of its current crisis with a two-third drop in profits and a warning that it needs significant job cuts and closures to turn its fortunes around. Just two days after unions warned that the German car giant planned to cut three plants and sack thousands of workers, VW said net profit dropped 64% to €1.57 billion in its September quarter while revenue fell 0.5% to €78.5 billion.

Volkswagen profits tumble as management calls for 'urgent' restructuring

Volkswagen on Wednesday said its third-quarter operating profit plunged 42% as weak performance in the core passenger car unit and high costs, including for model revamps, hit the automaker.

Volkswagen reports third-quarter profit slump as major overhaul looms

German automaker Volkswagen on Wednesday reported a 42% drop in operating profit in the third quarter.

Volkswagen profit plunges 42% in third quarter amid sweeping overhaul plans

Volkswagen and its powerful unions will lock horns on Wednesday for a second time over management plans for plant closures and mass layoffs, as Europe's biggest automaker battles to cope with high costs and growing competition.

VW and workers face off in second round of talks over pay and plants

Volkswagen is looking to achieve the majority of its billion-euro savings drive through wage cuts, Handelsblatt reported on Tuesday, citing a board of directors document.

Volkswagen eyes pay cuts to achieve majority of savings, reports Handelsblatt

Volkswagen's luxury division Audi is in talks with a potential investor for its struggling Brussels plant, a company spokesperson said on Tuesday.

Volkswagen's Audi in talks with potential investor for Brussels site

Volkswagen sees discounts on electric vehicles in China as "part of the business," the German carmaker's China boss Ralf Brandstaetter said in an interview with Handelsblatt on Tuesday.

Volkswagen's China boss sees EV discounts as 'part of the business'

VW implementing H.E.L.P.® Alerts to notify oncoming vehicles when a Volkswagen vehicle is disabled, and also protecting VW motorists with Road Awareness Alerts that give Volkswagen drivers in-dash notifications when approaching disabled vehicles, emergency responders, and other roadway hazards on their drive path. VW implementing H.E.L.P.® Alerts to notify oncoming vehicles when a Volkswagen vehicle is disabled, and also protecting VW motorists with Road Awareness Alerts that give Volkswagen drivers in-dash notifications when approaching disabled vehicles, emergency responders, and other roadway hazards on their drive path.

Safety Cloud® Included in Volkswagen Suite of Safety-Enhancing Vehicle Features

Volkswagen is taking bold actions to right-size its cost structure amid weak car sales and intense competition from Chinese EV manufacturers. Despite challenges, Volkswagen stock's undervaluation presents a significant investment opportunity, with valuable brands like Lamborghini, Porsche, and Audi under its umbrella. Management's proactive measures and a healthy balance sheet mitigate risks, ensuring the company remains competitive in a tough market.

Volkswagen Stock Remains Undervalued Amid Cost-Cutting Moves

Porsche Automobil Holding SE

Porsche AG staff at the German carmaker's site in Stuttgart will join a wave of strikes in key German industries on Tuesday, said IG Metall union's local branch, as part of national action planned to push for higher pay.

Porsche staff to join wave of strikes in key German industries

Volkswagen, Europe's biggest carmaker, is reportedly set to close at least three German plants and lay off tens of thousands of employees as part of a significant cost-cutting initiative. Facing pressure from high energy costs, competitive strain from Asia, and sluggish demand, the automaker aims to streamline operations to regain its competitive edge.

Volkswagen layoffs: can 3 plant closures in Germany cut costs?

Volkswagen plans to close factories in Germany for the first time, a top union official said. The German carmaker is under intense pressure to cut costs amid sliding sales in China.

Volkswagen mulls closing factories in Germany for the first time and cutting thousands of jobs to reduce costs

German carmaker warns of stagnation in the European sector amid news of deeper-than-expected action

Volkswagen to shut three factories, axe jobs and cut pay by 10%, says union

Volkswagen plans to shut at least three factories in Germany, lay off tens of thousands of staff and shrink its remaining plants in Europe's biggest economy as it plots a deeper-than-expected overhaul, the carmaker's works council head said on Monday.

Reactions to Volkswagen labour chief warning of mass layoffs, plant closures in Germany

Volkswagen, Europe's largest car manufacturer, is planning to permanently shrink the size of its German operations.

Volkswagen to close three German factories and lay off thousands of workers

Volkswagen Group (XETRA:VOW) is set to cut thousands of jobs, reduce staff pay and close several factories in Germany under efforts to bring down costs, its union has signalled. Workers council head Daniella Cavallo warned on Monday that the company was lining up to close at least three sites in its home country under larger-than-expected cuts.

Volkswagen to axe thousands of jobs and cut staff pay

Volkswagen is considering wide spread pay cuts and layoffs as well as closures or size reductions of its plants in Germany, the company's works council said Monday.

Volkswagen targets layoffs and 10% pay cuts amid plans for German plant closures, union says

Volkswagen plans to shut at least three factories in Germany, lay off tens of thousands of staff and permanently shrink its remaining plants in Europe's biggest economy as the continent's top carmaker is plotting a deeper-than-expected overhaul, the works council head said on Monday.

News for Volkswagen AG Stock (VWAGY)