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.

Stellantis N.V. 

European car stocks traded lower after Volkswagen, Jeep maker Stellantis and Aston Martin cut their respective annual outlooks.

European Car Stocks Drop After Flurry of Guidance Cuts

Volkswagen cut its sales and profitability forecasts for the year, joining a growing list of European rivals in lowering their targets as the industry faces an increasingly bumpy transition to electric vehicles.

Volkswagen Slashes Guidance as Challenges Pile Up

Volkswagen on Friday cut its annual outlook, citing a weaker-than-expected performance of its passenger car division as well as a deteriorating macroeconomic environment.

Volkswagen cuts 2024 outlook on macroeconomic headwinds

Porsche Automobil Holding SE

TORONTO, ON, Sept. 26, 2024 (GLOBE NEWSWIRE) -- Porsche Cars Canada, Ltd. (PCL) announced today the appointment of Trevor Arthur as its new President and Chief Executive Officer, effective October 1, 2024.

Porsche Cars Canada announces Trevor Arthur as its new President and CEO

Volkswagen bosses and workers' representatives started crunch talks Wednesday about the ailing German auto titan's drastic cost-cutting plans, with thousands of staff staging a protest and unions vowing "bitter resistance".

Unions vow 'bitter resistance' as Volkswagen talks begin

After Volkswagen's bombshell announcement earlier this month that it could close factories in Germany for the first time, company management and unions will begin tense talks on a new pay deal Wednesday.

High costs, slowing China: VW's perilous road ahead

Volkswagen's showdown with powerful labour leaders over how to tackle spiralling costs at underused German factories has triggered intense soul-searching about the root causes of the carmaker's problems.

Insight: VW labour clash spotlights Europe's car factory conundrum

When labour unions step into the ring with Volkswagen executives on Wednesday to fight over job security and plant closures, it will mark the toughest test yet for the most powerful figure at the automaker behind its CEO: Daniela Cavallo.

'Darkest day': Volkswagen's trailblazing labour chief gears up for jobs battle

Powerful trade unions and executives at Volkswagen will kick off talks over pay on Wednesday that are likely to determine how aggressively Europe's biggest automaker pursues layoffs and potential factory closures in Germany.

Volkswagen starts key pay talks with unions in shadow of possible plant closures

Alphabet

Alphabet's Google is providing key capabilities for an artificial intelligence assistant for Volkswagen drivers in a smartphone app, part of Google's strategy to win business by offering tools to build enterprise AI applications.

Google, Volkswagen partner on smartphone AI assistant

Porsche AG shares have been disappointing post-IPO, falling due to challenges in China and cautious market guidance despite initial gains. Germany's economic struggles, including a recession and reliance on China, have negatively impacted German automakers, including Porsche. Porsche faces difficulties in the EV market, with consumer preferences shifting towards local BEVs in China, affecting sales.

Porsche AG: Bad News, A Few Positives And The Issue Of Valuation

Volkswagen's CEO expects labour unions to make proposals on how to cut costs and close a gap with competitors, two days before talks over plant closures and new wage deals.

Volkswagen CEO expects significant concessions from unions in crunch talks

SAIC Volkswagen, responding to reports it would close its Nanjing plant, said on Saturday that adjusting its production base was "normal and necessary", Chinese media outlet Yicai reported.

SAIC Volkswagen says adjusting plant base "necessary"

German Economy Minister Robert Habeck said on Friday that he wants to help Volkswagen get through this period of cost-cutting without site closures.

German economy minister offers help to Volkswagen to avoid site closures

Germany's government was considering ways for it to support Volkswagen , German economy minister and vice-chancellor Robert Habeck said on Thursday when asked about the threat of job cuts at the country's largest carmaker.

Germany considering ways to support VW, economy minister says

An audit commissioned by Volkswagen into its jointly owned site in Xinjiang, China, failed to meet key aspects of the international standard the German carmaker's auditor said it had set for the process, the Financial Times reported on Thursday.

Volkswagen's audit of Xinjiang plant failed to meet international standard, FT reports

Union IG Metall repeated its demand that all Volkswagen plants in Germany needed to be kept and a new job security deal should be signed, in a flyer seen by Reuters on Thursday.

IG Metall union calls for VW's German plants to remain

Volkswagen and its Chinese joint venture partner SAIC plan to close at least one plant in China due to slow demand for combustion engine cars, Bloomberg News reported on Wednesday, citing people familiar with the matter.

Volkswagen and JV partner SAIC plan to close China plant, Bloomberg reports

Volkswagen faces a crisis, with management warning of potential challenges within two years due to declining sales and market competition. The company plans to cut spending, adjust output, and possibly close plants, risking labor disputes and political backlash. VW's investment in Rivian aims to bolster its struggling software and electrification efforts, indicating a willingness to take bold steps.

Volkswagen AG Is A Too-Big-To-Fail German Mess That Likely Will Be Fixed

Volkswagen's Audi is looking for an investor for its struggling Brussels plant, the premium brand's production director Gerd Walker said on Tuesday.

Volkswagen's Audi looks for investor for Brussels plant

Stellantis has already taken measures and is working hard to avoid the risk of plant closures, as recently announced by rival Volkswagen , the carmaker's CEO Carlos Tavares said on Tuesday.

Stellantis working hard to avoid Volkswagen plant-closing scenario, CEO says

Volkswagen (VWAGY) may be set to slash at least 15,000 jobs, in an effort to cut costs as it battles against stiff competition.

Volkswagen May Cut 15,000 Jobs, Jefferies Says

Thousands of workers descended on Brussels on Monday, causing disruptions near the European Parliament as they set off firecrackers and blocked streets in a large-scale demonstration. The protest was organized to show solidarity with employees at an Audi factory in Brussels facing potential job cuts as part of the shift toward greener technologies.

Audi factory closure plans spark protest by over 5,000 workers near European Parliament

Volkswagen may book billions of euros in provisions for planned capacity cuts as early as the fourth quarter, brokerage Jefferies wrote in a note after accompanying the carmaker's management.

Volkswagen may book 3-4 bln eur in provisions on capacity cuts, Jefferies says

The Volkswagen share price has been in a freefall in the past few weeks as the company's woes continue. The stock dropped to a low of €87.90 this week, its lowest swing since November 2020, and down by 50% from its highest point in 2022.

News for Volkswagen AG Stock (VWAGY)