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 VOW3 0.61%increase; green up pointing triangle is going through its deepest crisis in years. So is Germany.

VW and Germany Were Great for Each Other. Now They're Not.

Volkswagen's stock has declined 17% since my initial "Sell" rating, underperforming the broader market by 38%. VW's falling sales in China, rising competition from Chinese EV automakers, and reduced demand are reasons for concern. Volkswagen's complex shareholder structure and political involvement hinder streamlined decision-making.

Why Volkswagen's Era Might Be Coming To An End

German automotive giant Volkswagen on Tuesday said it was scrapping a slew of labor agreements. "The company sees itself forced to do so because of the current economic challenges," Volkswagen said in a statement translated by CNBC.

Volkswagen scraps a slew of labor agreements as standoff with unions intensifies

Volkswagen gave IG Metall notice on Tuesday it was scrapping a range of labour agreements including a guarantee of jobs until 2029 at six German plants, the union said.

Volkswagen scraps decades-old German job security pact, says union

Porsche Automobil Holding SE

Atlanta, Sept. 10, 2024 (GLOBE NEWSWIRE) -- Porsche Cars North America, Inc. (PCNA) is celebrating the 40th anniversary of becoming a sales organization in North America.

Porsche Cars North America celebrates its 40th anniversary

The U.S. National Highway Traffic Safety Administration said on Tuesday that Volkswagen would recall 98,806 electric SUVs to fix their door handles as they do not offer enough protection against water ingress.

Volkswagen to recall nearly 99,000 EVs in US over door handle issues

German battery recycling start-up Cylib, which counts Porsche and Bosch as backers, broke ground on its first European industrial plant in western Germany, the company said on Monday.

Porsche-backed German start-up Cylib breaks ground on battery recycling plant

Cylib, a startup backed by luxury sports car firm Porsche and appliances maker Bosch, is building a massive battery recycling facility in Germany. The plant, located in the town of Dormagen in western Germany, will span 236,000 square feet.

A Porsche-backed startup is building a massive battery recycling plant to boost Europe's EV industry

The finance chief of Volkswagen's core brand, Patrik Andreas Mayer, is to swap roles with his counterpart at the automaker's Seat subsidiary in Spain, Volkswagen confirmed on Monday.

VW to swap out brand CFO with Seat counterpart

Volkswagen's CEO, who is pushing for unprecedented cutbacks in the German carmaker's home market, said change was needed because the European market is shrinking while competition is increasing.

VW boss says European market shrinking amid tougher competition

While many of Volkswagen's challenges have plagued it for a while, two recent developments have made things worse.

China, price cuts and costs: the fuel driving Volkswagen's crisis

Germany lost cheap Russian energy and faces uncertainty over trade with China. Now it faces a hard test on the third ingredient in its long-time formula for success.

VW factory threat stress-tests Germany's economic model

Volkswagen's PowerCo battery subsidiary will build just one of two planned production lines at its Salzgitter plant in Germany for now, its works council said, as the sector adjusts to slowing demand for electric vehicles.

Volkswagen's German battery plant to stay at half capacity amid cost pressures

Germany's largest trade union, who sit on Volkswagen's supervisory board , said on Thursday they will leave no stone unturned in coming up with alternatives to the carmaker's threats of plant closures, with a 4-day week as one option.

German union on VW: 4-day week "conceivable", will consider all options

Germany's manufacturing industry is facing a critical juncture as Volkswagen and Intel weigh significant operational changes. Volkswagen, a cornerstone of Germany's automotive sector, is contemplating closing several of its German plants for the first time in its 87-year history.

Volkswagen considers factory closures: What it means for Germany's manufacturing sector

Former Volkswagen CEO Martin Winterkorn said Wednesday the charges against him were "implausible" as he testified at his trial over the "dieselgate" scandal that rocked the German auto titan.

Ex-VW boss tells trial 'dieselgate' charges are 'implausible'

Volkswagen's plan to close plants in Germany and dissolve long-standing labour agreements with unions has put the spotlight on its unique governance and ownership structure that have drawn criticism from investors for years.

Volkswagen law: German automaker's ownership structure explained

Management at German automotive giant Volkswagen is set to go toe-to-toe with workers in a townhall on Wednesday as senior business leaders are set to present details about prospective cuts. Volkswagen on Monday warned that it was no longer able to rule out closing plants in its home country of Germany.

Volkswagen to face tense townhall as workers battle possible plant closures

Business sentiment in the German automotive industry slid deeper into negative territory in August, according to a survey, providing a gloomy backdrop to labour talks due to start on Wednesday at Volkswagen over its ambitious cost-cutting drive.

Souring mood in German auto sector sets gloomy tone for VW labour talks

Volkswagen management will face a tense and fearful workforce at a meeting in its headquarters on Wednesday as it proposes painful cuts, including factory closures in Germany, to hit an ambitious profit target at its namesake brand.

Volkswagen goes head-to-head with workforce over proposed company cuts

Volkswagen's VOW -0.68%decrease; red down pointing triangle suggestion that it might have to close a plant in Germany for the first time ever sets up a battle with its powerful union and highlights the mounting pressures on its namesake brand.

For Volkswagen, the Bumpy Road to Electric Vehicles Starts to Hit Home

Volkswagen is taking its ChatGPT voice assistant experiment on the road. Or more, specifically to vehicles it sells in the United States.

Volkswagen is rolling out its ChatGPT assistant to the US

German Economy Minister Robert Habeck is in contact with Volkswagen , a ministry official said on Tuesday, after the carmaker announced it was weighing the closure of plants in Germany and planning to scrap a job security scheme.

German economy minister is in contact with Volkswagen, says ministry official

German automotive giant Volkswagen (VWAGY) is considering significant cost-cutting measures to restructure amid an "extremely tense" economic situation as it faces increasing international competition and pressure on profits as it transitions to producing more electric vehicles.

Volkswagen Warns of Possible Plant Closures, Job Cuts Amid Rising Competition

Volkswagen boss Oliver Blume, already battling slowing demand for electric cars and Chinese rivals, must now put aside his mantle as team player to tackle yet another tough opponent, Germany's powerful labour unions.

News for Volkswagen AG Stock (VWAGY)