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 is exploring a series of cost-cutting measures for its core brand, including a 10% wage cut and a two-year wage freeze, as it seeks to save 4 billion euros, Handelsblatt newspaper reported on Sunday, citing company insiders.

Volkswagen weighs wage cuts, bonus reductions in push to save 4 billion euros - Handelsblatt

Porsche Automobil Holding SE

Porsche AG posted lower sales and operating profit as it faced challenges in China and a slower-than-expected shift to electric vehicles.

Porsche AG Sales Fall Amid Slow EV Market, China Woes

Luxury sportscar maker Porsche AG on Friday warned it may cut costs after a slower-than-expected transition towards electric vehicles and persisting weakness in the Chinese market caused nine-month operating profit to fall by more than a quarter.

Porsche AG flags cost cuts as China weakness, slowing EV shift hits profits

Volkswagen has so far not presented a plan for how to make its namesake brand more competitive, the head of the group's works council said in a handout to staff, adding management remained solely focused on labour costs.

Volkswagen has still not presented future plan for brand, says works council boss

Volkswagen's Scout Motors unit on Thursday unveiled its concept electric SUV and truck and said it will offer extended-range versions that include a small gasoline engine.

VW's Scout Motors unit will offer EV SUVs, trucks with gas engine option

Volkswagen's Scout Motors revealed its first two vehicles Thursday: A Traveler SUV and Terra pickup truck, scheduled to arrive in 2027. Scout, a former American vehicle brand from 1961 to 1980, was expected to exclusively offer EVs in a bid for the German automaker to expand its presence in the U.S.

Volkswagen's Scout Motors reveals first EVs as it shifts to include plug-in hybrids

Atlanta, Oct. 24, 2024 (GLOBE NEWSWIRE) -- Atlanta. Porsche has presented its Formula E car for the next two seasons: the new Porsche 99X Electric.

Expressive appearance: the new Porsche 99X Electric

Porsche AG (ETR:P911), the German luxury car maker, has been upgraded to a buy by US group Citi after what it says was a tough year for the business. Citi adds that 2024 was always going to be difficult for Porsche with four new model launches ramping down and back up again.

Porsche can start purring again next year, Citi suggests

Traton shares rose after the truck maker's supply issues cleared and its Scania brand helped lift results above analysts' estimates.

Traton Gains After Results Beat Estimates

Shares in Traton rose on Tuesday after Volkswagen's truck unit reported third-quarter results above expectations driven by robust sales in its US brand International and Swedish unit Scania.

Shares in VW's truck unit Traton jump after Q3 beat

Volkswagen Group (XETRA:VOW) has been fined by Britain's financial watchdog over its treatment of customers in financial difficulty. The Financial Conduct Authority (FCA) said on Monday that Volkswagen Financial Services (UK) Ltd would have to pay £5.4 million over unfair treatment of such customers.

Volkswagen finance wing fined £5.4mln over customer treatment

UK's financial regulator on Monday said it will fine the British financial services unit of automaker Volkswagen AG 5.4 million pounds ($7 million) for unfair treatment of customers in financial difficulty between 2017 and 2023.

UK watchdog fines Volkswagen unit for unfair customer treatment

BNP Paribas SA

Prudential Financial

China has approved two more insurance units to be set up by BNP Paribas and Prudential Financial in a move to further open up the local insurance market to foreign companies.

China approves BNP Paribas, Volkswagen joint venture, Prudential insurance unit

Volkswagen unions and management are in the midst of talks unions say went from abysmal to controversial, as workers have accused the carmaker of failing to present a vision for the future despite assurances that a new strategy is underway.

VW, unions in fact-finding talks as carmaker develops new strategy

Atlanta, Oct. 16, 2024 (GLOBE NEWSWIRE) -- A quarter of a century ago, Porsche introduced a new model that would go on to become a legend: the 911 GT3. Named after a class of endurance racing cars, the motorsport-derived variant prioritized track performance and a particularly visceral driving experience by offering motorsport technology for the road.

Porsche celebrates 25 years of the 911 GT3

The new Porsche Macan Electric has arrived. Every Canadian customer will be eligible for two years of complimentary charging at Electrify Canada. The Porsche Macan Electric's battery can be charged from 10 to 80 percent within approximately 21 minutes at a 350kW station, under ideal conditions.

Porsche Macan Electric receives two years of inclusive Electrify Canada charging

Air Liquide SA

General Motors

Orion Group Hlds

DENVER, Oct. 16, 2024 (GLOBE NEWSWIRE) -- Forge Nano, Inc., a materials science company that uses its Atomic Armor™ Atomic Layer Deposition technology to optimize material performance to enable better products, today announced a $10M investment from GM Ventures, the venture arm of General Motors (NYSE: GM). The investment adds to its previous $50 million Series C with participation from Hanwha (KRX: 000880), Orion Infrastructure Capital (NYSE: ORN), Catalus Capital and Ascent Funds. The company has raised more than $100 million to date with additional investments from Volkswagen (OTC: VWAGY), Mitsui Kinzoku (OTC: MMSMY), LG Technology Ventures (KRX: 003550), Sumitomo Corporation of Americas (OTC: SSUMF), Air Liquide (OTC: AIQUY) and SBI Investment (OTC: SBHGF).

Forge Nano Receives $10M Investment from GM Ventures to Pursue GM Battery Material Enhancements for Future Electric Vehicles

Bayerische Motoren Werke AG

BYD Co Ltd

Stellantis N.V. 

The Paris Auto Show showcases the electric future of the auto industry, with European and Chinese manufacturers fiercely competing for dominance in this space.

Paris Auto Show 2024: EV Showdown Between European and Chinese Brands

The second round of collective bargaining negotiations between Volkswagen and the IG Metall union will take place on October 30, the two sides said on Tuesday.

Second round of wage talks at Volkswagen to start on Oct. 30

The four German states with a Volkswagen presence want to work together to ensure that the struggling carmaker does not shut any of its plants, the states' economy ministries said in a joint position paper seen by Reuters on Monday.

German states vow to work together to save Volkswagen sites

Volkswagen delivered fewer cars in the third quarter as the automaker navigates an increasingly challenging market hit by a price war in China and high domestic production costs.

Volkswagen Car Deliveries Fall as Industry Challenges Mount

Strong demand sees deliveries to customers in first nine months total 54,083 new cars Strong demand sees deliveries to customers in first nine months total 54,083 new cars

Porsche reports Q3 2024 U.S. retail sales

Rating agency Moody's has cut its outlook on Volkswagen to "negative" from "stable", citing a deteriorating operating performance at Europe's top carmaker and expected challenges to turn the situation around.

Moody's cuts Volkswagen's outlook to 'negative' due to operating weakness

Volkswagen Group reported a 7% decline in third-quarter global deliveries on Friday, showing the extent of challenges faced by the European auto sector.

Volkswagen Q3 deliveries down, confirming challenges to European auto sector

German sports car maker Porsche on Friday posted a 29% nine-month sales drop in China, joining peers BMW and Mercedes in reporting weaker results in the country.

News for Volkswagen AG Stock (VWAGY)