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.

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.

Volkswagen plans major layoffs, to shut at least three German plants, works council head says

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 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.

News for Volkswagen AG Stock (VWAGY)