Latest in Tag: carmaker Highlight
Latest in Tag: carmaker
VW takes top carmaker spot despite scandal
Germany’s biggest carmaker is now the world’s biggest. Volkswagen appears to have wrested the title from Toyota, despite new developments in the ongoing scandal that has tarnished its reputation.Germany’s Volkswagen appears to have overtaken Japanese rival Toyota to become the world’s biggest carmaker, according to company data issued Tuesday. Last year, VW notched up global …
Ferrari boasts rising sales and profit
Italian luxury sports carmaker Ferrari has reported strong third-quarter results despite a challenging market environment.
BMW logs record quarterly profit on strong sales
German premium carmaker BMW has posted a decent increase in third-quarter earnings
Tesla shares flying on surprise profit
Tesla shares have gained more than seven percent after the electric-car and battery maker reported its first quarterly profit in three years and said it was on track to meet its delivery targets for the year.
Brexit to eat into German GDP: study
Britain’s vote to leave the European Union will have a negative impact on gross domestic product in Germany, a survey by an economic think tank has predicted.
VW reaches tentative deal to compensate US dealerships
The embattled carmaker has reached an ‘agreement in principle’ to compensate its 650 US dealers which sued Volkswagen for damages in connection with its emissions-cheating scandal.
VW hopes for breakthrough in row with suppliers
German carmaker Volkswagen has confirmed it’ll hold more talks with two suppliers of components.
Dieselgate cheating costs VW 5.5 million euros in Italy
Italy’s antitrust regulator has fined Volkswagen 5 million euros for its Dieselgate software manipulation. VW has admitted to installing software to circumvent pollution standards in millions of diesel cars.
Mercedes announces huge investment in Hungary
German luxury carmaker Mercedes-Benz has said it’s planning to invest heavily in a new factory in Hungary. The plant will create thousands of new jobs and produce a variety of models in the auto maker’s product palette.
Robust sales help VW ride out Dieselgate
German carmaker Volkswagen has reported a rise in sales and operating profit, indicating the company’s dieselgate legacy is manageable. The firm also set aside more money to cover future litigation costs.
GM lifts revenue outlook on strong US sales
General Motors has raised its full-year profit forecast following a record-setting second quarter in which Americans eagerly spent money on new pickup trucks and sport utility vehicles.
VW profit set to shine despite Dieselgate clouds
Investors have delved into VW shares after the embattled carmaker forecast a higher-than-expected operating profit, shrugging off news the company booked another huge charge for its emissions-cheating scandal.
Tesla claims ignorance of SEC probe after fatal accident
The electric carmaker says it has not been informed of an investigation by the US financial market regulator into allegations that Tesla kept a deadly crash secret from investors ahead of issuing new shares.
BMW teams up with Intel, Mobileye
German carmaker BMW has announced that it’s entered into a technology alliance with chipmaker Intel and computer vision specialist Mobileye. The move is meant to support the firm’s focus on self-driving vehicles.
VW: Compensation claims and a lot more
German carmaker Volkswagen and US authorities are expected to reach a settlement agreement, which might make it clear for the first time how much the “Dieselgate” emissions-cheating scandal would cost the company there.
VW investors looking for answers in Hanover
At its first shareholder meeting since its pollution scandal broke last September, managers at German carmaker VW are girding for tough questions from investors. Fresh accusations and probes are an added irritation.
Suzuki offices raided in Japanese fuel-economy probe
Japanese officials have raided the headquarters of Suzuki in search for evidence the carmaker cheated on emissions and fuel-economy tests. The raid comes after Suzuki admitted in May it had used illegal testing methods.
VW sees huge potential in ridesharing business
Officials from German carmaker Volkswagen have announced a major investment in ridesharing company Gett, saying the deal of strategic importance. VW expects brisk business in this market segment.
VW mulls e-battery factory of its own
Media reports have suggested German carmaker Volkswagen is considering building its own battery production facility to foster e-mobility. It could be a crucial move to lessen dependence on Asian producers.
BMW outlines new digital strategy
German luxury carmaker BMW has presented a new long-term strategy aimed at strengthening the company’s market position in the digital age. Autonomous driving and e-mobility are high on the firm’s agenda.
Volkswagen’s US boss Michael Horn resigns
The German carmaker’s top boss in the US has stepped down almost six months after the firm became embroiled in an emissions cheating scandal. Michael Horn said he was leaving Volkswagen to “pursue other opportunities.”
Civil lawsuit against VW will prove a costly affair
After the US authorities filed a civil lawsuit against German carmaker Volkswagen over its emissions-cheating scandal, analysts are trying to figure out how much the lawsuit will cost VW. There will be no cheap escape.
After the US authorities filed a civil lawsuit against German carmaker Volkswagen over its emissions-cheating scandal, analysts are trying to figure out how much the lawsuit will cost VW. There will be no cheap escape.
VW admits to more cheating on 3-liter diesels
Volkswagen has said thousands more of its luxury cars and SUVs contain “defeat devices” than originally believed. The deceptive software was installed on vehicles going back as far as 2009. Germany’s largest carmaker told federal regulators in the US on Friday that thousands more of its 3.0-liter V-6 diesel cars and SUVs were equipped with …
Toyota beats VW sales
Japan’s Toyota has reported its nine-month sales figures, showing that the company shifted more vehicles than German rival Volkswagen. Both firms had to announce massive recalls recently, albeit for different reasons. Toyota raced back to the top of the global sales table after logging 7.498 million vehicles in the first three quarters of 2015, the …
VW halts European sales of rigged cars
German carmaker Volkswagen has announced it has stopped the sale of new vehicles in the EU fitted with the emissions-cheating software. The cars in question will first be fixed and then put up for sale again. Volkswagen said Wednesday it had completely halted the sale of vehicles in the EU which came equipped with software …
Starbucks, Fiat to repay illegal tax advantages
US coffee retailer Starbucks and the financing arm of Italian carmaker Fiat must repay several million of euros in illegal tax advantages. The ruling is part of an EU clampdown on corporate tax avoidance. EU Competition Commissioner Margrethe Vestager announced Wednesday that tax rulings which “artificially reduce a company’s tax burden” were illegal because they …
VW Europe sales rise amid market upswing
Volkswagen saw sales rise in September – the month in which news of its emissions cheating scandal broke. But its sales grew below the market average, in a first sign the scandal might soon be taking a heavier toll. The European Automobile Manufacturers’ Association (ACEA) published sales figures for the month of September on Friday, …
EU could demand back loans from VW
The European Investment Bank (EIB) could demand billions of euros in loans back from Volkswagen, if it determines that Europe’s largest carmaker misused the money to cheat on diesel emissions data. Since 1990, the EIB has extended loans to VW worth some 4.6 billion euros ($5.2 billion) for the development of cleaner motors and production …
Spain not hit by VW investment revision
The government in Madrid has said Spain will not be affected by German carmaker VW’s upcoming investment revision in the wake of its emission tests scandal. It said promised resources would be allocated as planned. VW’s current endeavors to come to grips with its scandal over rigged diesel-engine emission tests would have no impact on …
Germany in damage containment mode over VW
German cabinet ministers have said they’d do everything in their power to help shed light on carmaker VW’s scandal surrounding its efforts to thwart US pollution tests. They saw no lasting damage to German industry. The German government said it had ordered extensive tests on all Volkswagen diesel models in the country. Transport Minister Alexander …