Latest in Tag: Volkswagen Highlight
Latest in Tag: Volkswagen
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 …
Bosch entangled in VW cheating scandal
A German auto parts supplier is being investigated for its role in Volkswagen’s emissions cheating scandal. Bosch provided the disgraced auto maker with engine components and software for its diesel vehicles. Federal prosecutors in the US are examining whether Bosch, a major engineering and automotive company, colluded with Volkswagen to deceive regulators during diesel emissions …
Moody’s lowers Volkswagen’s credit rating
US ratings agency Moody’s has downgraded VW’s credit rating in response to the German carmaker’s deepening pollution scandal. Due to the latest revelations, the agency’s outlook for the company was negative. Moody’s hit embattled German auto maker Volkswagen Wednesday with a credit rating downgrade, saying the company’s reputation and earnings were at risk from the …
US regulators accuse VW of using software to cheat emission tests on big-engine VW, Audi and Porsche cars
US regulators said Monday Volkswagen’s cars with larger diesel engines were also found to have violated the country’s pollution rules.
Sedran appointed new VW chief strategist
Crisis-hit Volkswagen has hired top strategy executive Thomas Sedran from its competitor Opel. It is the latest major personnel change in the wake of a scandal over the company’s cheating on diesel emissions tests. Volkswagen announced Monday that 51-year-old Sedran would take over responsibility for the company’s corporate strategy from November. He “will report directly …
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 …
Another VW motor may have cheating device
Embattled German carmaker Volkswagen has said another one of its diesel motors may have had software installed to deceive emissions tests. Until now, only one type of engine had been affected. On Thursday, VW said it was checking whether earlier versions of its EA 288 diesel engines had also been outfitted with the same kind …
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 …
Police raid French VW headquarters
The authorities have seized computers and documents from French Volkswagen offices. France estimates that nearly 1 million cars carrying faulty emissions software have been sold there in recent years. Investigators have staged a surprise raid at the French headquaters of German auto giant Volkswagen, a company spokeswoman confirmed on Sunday. Police searched both the main …
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, …
VW announces Europe-wide mass recall over emissions fix
German carmaker Volkswagen has said it will recall millions of its diesel-powered vehicles registered in Europe to fix software designed to cheat in emissions tests. The move was prompted by a mass recall in Germany. Volkswagen said on Thursday it will recall around 8.5 million vehicles in all 28 of the European Union’s member states …
Germany orders mass recall of VW cars
Germany’s transport authority will order Volkswagen to recall 2.4 million diesel vehicles that have been outfitted with software designed to cheat on emissions tests. The recalls will be mandatory. German regulator KBA, the country’s automotive watchdog, said Thursday it would not sign off on a plan by Europe’s largest automaker to remove deceptive software from …
CPA tightens testing procedures on Volkswagen following emissions scandal
The problem exists with diesel engines only, which are currently unavailable, says Volkswagenâs agent in Egypt
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 …
VW appoints Porsche head Matthias MĂŒller as new CEO
The supervisory board of German carmaker Volkswagen named Porsche head, Matthias MĂŒller, the company’s chief executive
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 …
Volkswagen – a tumbling giant?
The current crisis over the systematic cheating on US emissions tests is weighing down on the reputation of the German auto maker Volkswagen. Here are some facts and figures on the Wolfsburg-based company. Size With 600,000 employees and annual revenues of 200 billion euros ($224 billion), Volkswagen is one of the flagships of German industry. …
From bad to worse: Volkswagen in the US
VWâs manipulated emissions tests are making headlines in the US. Thatâs putting VW CEO Martin Winterkorn in a bad light after heâs made the US market his personal management priority, says DW’s Thomas Neufeld. As early as the start of last year, the powerful head of VWâs works council Bernd Osterloh called VWâs US business …
Volkswagen CEO apologizes for cheating on US auto emissions tests
Volkswagen CEO Martin Winterkorn has apologized for manipulating US diesel emissions tests. Fines and recalls loom on the horizon. But the biggest price to pay is VW’s loss of face – and that of the German auto industry. Volkswagen CEO Martin Winterkorn has been forced to apologize after the US Environmental Protection Agency (EPA) found …
US accuses Volkswagen of evading clean air standards
US regulators have called German carmaker Volkswagen out for intentionally violating clean air standards. If the allegations are true, the Wolfsburg-based company could face billions of dollars in fines. The US Environmental Protection Agency (EPA) on Friday accused Volkswagen of deliberately circumventing clean air rules on nearly 500,000 diesel cars, by using software that evades …
European carmarkers fly high at Frankfurt’s IAA
Lights, camera, cars: Glitzy new models and high-tech gadgets are coming together at the 66th IAA, the world’s largest motor show. And carmarkers from around the world are eager to show off what their prototypes can do. Europe’s carmakers are feeling optimistic. At least, that is definitely the impression they want to make at the …
VW CEO Winterkorn likely to stay until end of 2018
Directors at Germany’s Volkswagen have thrown their weight behind extending the contract of CEO Martin Winterkorn. They said he should not leave the post before the end of 2018, hoping for more successful years. German carmaker Volkswagen said Wednesday that key members of its supervisory board hoped to extend the contract of CEO Martin Winterkorn …
Volkswagen lowers sales forecast
Volkswagen, which recently overtook Toyota to become the world’s biggest automaker, has lowered its global sales forecast for 2015 citing weaker demand from China and other key markets. The 12-brand Volkswagen (VW) group, based in the northern German city of Wolfsburg, said Wednesday that revenue would stagnate this year, revising an outlook for a “moderate” …
VW overtakes Toyota as world’s biggest automaker
Riding momentum in emerging economies, Volkswagen has outsold its Japanese rival Toyota to become the world's top seller of automobiles. Toyota has sold 5.02 million vehicles so far this year, shy of VW's 5.04 million. In a watershed moment for the German auto giant, Volkswagen was able to take the top spot globally in terms of sales volume in the…
Several businessmen attempted to buy car agency, but failed: Karim Naggar
We will supply Egyptian Ambulance Organization with vehicles soon, says businessman
Volkswagen, Audi working at full capacity: Former chairman
The businessman emphasised his complete respect for the judicial decisions against him, but added that he had appealed the decision to dismiss him from his position.
Purchase offer period ends as QNB acquires 100% of NSGB
Qatar National Bank bought each share at EGP 35.65, with the total value of the sale reaching EGP 16.142bn
NSGB workers threaten strike over âQatar problemâ
Employees have expressed disapproval over Qatar National Bankâs acquisition of 100% of NSGB, and are to stage a protest on Monday to denounce the agreement
Qatar National Bank buys 100% of NSGB
EFSA has approved QNBâs offer of EGP 38.65 per share for 100% of NSGBâs shares