Volkswagen’s profits fell in the second quarter, but it maintained its targets for the full year. The German automaker said profit after tax came in at 3.91 billion euros, up from 5.04 billion euros a year ago. Operating profit before extraordinary items fell 28% to €4.74bn and comparable return on sales fell to 6.8% from […]
Tag: Volkswagen
Volkswagen shares fall after the announcement of a replacement for its CEO
Volkswagen shares fell 3.2% after the German automaker decided to replace current CEO Herbert Diess amid the company’s shift to electric vehicles. The automaker announced Friday that Diess will step down on Sept. 1 and will be succeeded by Oliver Blume, who is also Porsche’s chief executive. The outgoing chief executive had repeatedly clashed with […]
Why does anyone who buys a Volkswagen get a Lamborghini as a ‘gift’?
By Chris Bryant More than 70% of the approximately 1 million Porsche 911s built since the 1960s are still on the road. Bypassing the question of “what happened to the rest”, this statistic shows that Porsche 911s are valuable to collectors and thus manage to maintain their value. Unfortunately, the same cannot be said for […]
VW: Offer of compensation to workers who will resign from a large factory in Russia
The German carmaker Volkswagen will compensate its employees in one of the company’s two factories in Russia, if they agree to resign voluntarily, as reported today by the newspaper “The Kommersant.” According to the same publication, the compensation, which in some cases can be equal to six months’ salary, will be given to the 200-person […]
Electric vehicles will have to wait. Volkswagen has almost sold out all the cars planned for production this year
The plans of the automotive giants for rapid electrification are clearly poorly aligned with reality, and on many fronts. For example, Volkswagen CEO Herbert Diess said that the company has almost sold out all electric vehicles planned for this year in the US and Europe. Of course, we are talking about pre-ordered cars. The company […]
More than 75,000 Volkswagen cars recalled in Russia due to problems with online services
Volkswagen Group Rus, the official manufacturer of Volkswagen in the Russian market, has launched a program of voluntary recall of cars in Russia. This was reported by the press service of the Federal Agency for Technical Regulation and Metrology (Rosstandart). The recall program covers 5,396 Volkswagen Polos sold between April 2020 and February 2022. The […]
Volkswagen cars have risen sharply in Russia – by more than a million rubles
Volkswagen in Russia has raised prices for its entire range of cars. This was reported by the resource “Auto news of the day” with reference to the latest price lists of Volkswagen. This is the fourth increase in the price of Volkswagen cars since the beginning of 2022 and the next after a significant increase […]
Volkswagen: 65% increase in deliveries of purely electric vehicles
The Volkswagen Group continues its electric “raid” after the completion of the first quarter. It managed to increase deliveries of purely electric vehicles by 65% on an annual basis. Despite the supply of semiconductors and cables, 99,100 electric vehicles were delivered to customers by the end of March, up from 60,000 in the first quarter […]
Volkswagen: Expects significantly higher profits for the year
Volkswagen announced that quarterly profits would be significantly higher on an annual basis, although it warned of the continuing impact on exchange rates and commodity markets since the war in Ukraine. The German carmaker announced that operating profit before the emergency amounted to 8.5 billion euros, with an operating return on sales of about 13.5%, […]
Volkswagen will abandon dozens of models with internal combustion engines
Volkswagen has announced plans to phase out dozens of internal combustion engine models by the end of this decade and focus on higher-margin luxury vehicles. The company’s chief financial officer, Arno Antlitz, said that over the next eight years, the number of gasoline and diesel Volkswagen vehicles in Europe will decrease by 60%. Today, the […]