Volkswagen

SEC News: SEC Charges Volkswagen, Former CEO With Defrauding Bond Investors During “Clean Diesel” Emissions Fraud

Washington DC (STL.News) – The Securities and Exchange Commission yesterday charged Volkswagen AG, two of its subsidiaries, and its former CEO, Martin Winterkorn, for defrauding U.S. investors, raising billions of dollars through the corporate bond and fixed income markets while making a series of deceptive claims about the environmental impact of the company’s “clean diesel” fleet. … Continue reading SEC News: SEC Charges Volkswagen, Former CEO With Defrauding Bond Investors During “Clean Diesel” Emissions Fraud

The Latest: VW gives dune buggy an electric makeover

GENEVA (AP) — The Latest on the Geneva auto show (all times local): 1:00 p.m. Volkswagen is giving the renowned dune buggy a makeover for a digitized and environmentally-conscious era, presenting a noise- and pollution free concept car billed as just as much fun in the sands as its petrol-powered forebears. Volkswagen has trotted out … Continue reading The Latest: VW gives dune buggy an electric makeover

FRANKFURT, Germany | Economists: Hard Brexit would hit German auto industry hard

FRANKFURT, Germany (AP) — A no-deal Brexit could affect more than 100,000 jobs in Germany, and regions of the country with Volkswagen and BMW factories would be among those worst hit, according to economists at a prominent nonprofit institute. The economists from the Halle Institute for Economic Research said Monday they modeled what would happen … Continue reading FRANKFURT, Germany | Economists: Hard Brexit would hit German auto industry hard

DETROIT | Automakers recall 1.7 million cars with fatal airbags

DETROIT (AP) — Subaru, Tesla, BMW, Volkswagen, Daimler Vans, Mercedes and Ferrari are recalling about 1.7 million vehicles to replace potentially deadly air bag inflators made by Takata Corp. of Japan. The inflators can hurl shrapnel into drivers and passengers. At least 23 people have died from the problem worldwide and hundreds more were injured. … Continue reading DETROIT | Automakers recall 1.7 million cars with fatal airbags

Missouri News: Attorney General Eric Schmitt Announces Settlements with Fiat Chrysler, Auto Parts Supplier Bosch for Adding

JEFFERSON CITY, MO – Jan. 16, 2019 – Missouri Attorney General Eric Schmitt announced today that Missouri has obtained settlements providing millions of dollars for Missouri consumers who purchased or leased Fiat Chrysler vehicles containing illegal defeat devices.  The settlements also provide for combined payments of approximately $3.1 million to the State of Missouri and … Continue reading Missouri News: Attorney General Eric Schmitt Announces Settlements with Fiat Chrysler, Auto Parts Supplier Bosch for Adding

FRANKFURT, Germany | VW, Ford team up on pickups, explore deal on electrics

FRANKFURT,Germany— Jan 15, 2019— Volkswagen and Ford say they’re forming a global alliance in which they will develop commercial vans and medium-sized pickups together while exploring broader cooperation on future battery-powered and autonomous vehicles. Volkswagen CEO Herbert Diess and Ford CEO Jim Hackett said in a statement Tuesday that the first jointly developed vehicles could … Continue reading FRANKFURT, Germany | VW, Ford team up on pickups, explore deal on electrics

Tennessee News: Governor Bill Haslam, Commissioner Rolfe Announce Volkswagen to Create 1,000 New Jobs in Chattanooga

Chattanooga chosen as company’s U.S. base for electric vehicle production NASHVILLE, TN – Jan. 14, 2019 – Tennessee Governor Bill Haslam and Department of Economic and Community Development Commissioner Bob Rolfe along with Volkswagen AG announced today that Chattanooga will be home to the company’s first electric vehicle manufacturing facility in North America. The project … Continue reading Tennessee News: Governor Bill Haslam, Commissioner Rolfe Announce Volkswagen to Create 1,000 New Jobs in Chattanooga

Oregon News: Oregon Plays Key Role in $171 Million Settlement with Fiat Chrysler and Robert Bosch for Environmental Breaches

SALEM, OR – Jan. 11, 2019 – Attorney General Ellen Rosenblum today announced a landmark $171 million settlement with 49 states, the District of Columbia and Guam with Fiat Chrysler and Robert Bosch for equipping, selling or leasing environmentally non-compliant vehicles.  Oregon helped lead the investigation, and will receive $7.23 million of the settlement.  Fiat … Continue reading Oregon News: Oregon Plays Key Role in $171 Million Settlement with Fiat Chrysler and Robert Bosch for Environmental Breaches

MUNICH | Former VW boss Winterkorn leaves Bayern supervisory board

MUNICH— German soccer champion Bayern Munich says former Volkswagen CEO Martin Winterkorn has left its supervisory board, three years after he resigned from the automaker amid its diesel emissions scandal. The club said the 71-year-old Winterkorn stood down on Monday after nearly 16 years as a member. It said Tuesday that Winterkorn, as former CEO … Continue reading MUNICH | Former VW boss Winterkorn leaves Bayern supervisory board

FRANKFURT, Germany | Volkswagen on track to break last year’s sales record

FRANKFURT, Germany — Automaker Volkswagen says it is on track for a new annual sales record despite trouble getting vehicles certified for new European emissions tests. Sales head Christian Dahlheim said Friday that “we are confident” 2018 will end with a figure slightly above the previous record from 2017, when the company sold 10.74 million … Continue reading FRANKFURT, Germany | Volkswagen on track to break last year’s sales record

WASHINGTON | White House: Trump meets with German auto executives

WASHINGTON — President Donald Trump met Tuesday with executives from three big German automakers amid U.S.-European trade tensions focused on car exports and the threat of tariffs. Executives from BMW, Daimler and Volkswagen were invited to participate in a series of meetings with Trump’s top economic advisers to discuss investment opportunities in the United States, … Continue reading WASHINGTON | White House: Trump meets with German auto executives

BERLIN | VW to appeal German court ruling ordering diesel car buyback

BERLIN — German automaker Volkswagen says it will appeal a court ruling that orders it to buy back a six-year-old diesel vehicle at the original sales price. In a statement Friday, Volkswagen said it expects an appeals court to overturn the verdict issued last week by judges in the southern German city of Augsburg. The … Continue reading BERLIN | VW to appeal German court ruling ordering diesel car buyback

FRANKFURT, Germany | Volkswagen to devote 3 German plants to electric car push

FRANKFURT, Germany  — German automaker Volkswagen will convert three factories in Germany to manufacture electric cars, ramping up production of zero-local emission cars ahead of tougher European emissions standards, the company said Wednesday. Wolfsburg-based Volkswagen said Wednesday that it would begin local production of electric-powered vehicles at its facilities in Emden and Hannover in 2022. … Continue reading FRANKFURT, Germany | Volkswagen to devote 3 German plants to electric car push

FRANKFURT, Germany | BMW earnings fall amid market turmoil over emissions tests

FRANKFURT, Germany — Germany luxury automaker BMW says net profit fell 24 percent in the third quarter as the company faced market disruptions caused by other companies failing to get vehicles certified for new European Union emissions tests. The Munich-based automaker also said it was spending more to develop the electric and autonomous vehicle technologies … Continue reading FRANKFURT, Germany | BMW earnings fall amid market turmoil over emissions tests

BERLIN | German consumer group files suit in VW diesel scandal

BERLIN  — A German consumer group has filed a suit against Volkswagen that aims to establish a right to compensation for car owners affected by the automaker’s diesel emissions scandal. The Federation of German Consumer Organizations filed the case to a court in Braunschweig under new rules that came into force Thursday allowing a form … Continue reading BERLIN | German consumer group files suit in VW diesel scandal

BRATISLAVA, Slovakia | Jaguar Land Rover opens new plant in Slovakia

BRATISLAVA, Slovakia  — Jaguar Land Rover is opening a new, $1.6 billion plant in Slovakia, the luxury car maker’s first in continental Europe. The U.K.-based company, owned by India’s Tata Motors, built the plant near Nitra, about 100 kilometers (65 miles) east of Bratislava, to initially produce 150,000 cars a year. The Slovak government is … Continue reading BRATISLAVA, Slovakia | Jaguar Land Rover opens new plant in Slovakia

FRANKFURT, Germany | Court rules for investors in Volkswagen diesel suit

FRANKFURT, Germany  — A court in Stuttgart, Germany has ruled that Volkswagen‘s parent company must pay 47 million euros ($54 million) in damages to investors for not making a timely disclosure of its scandal over cars rigged to cheat on diesel emissions tests. The dpa news agency reported that the court announced the verdict Wednesday … Continue reading FRANKFURT, Germany | Court rules for investors in Volkswagen diesel suit

BERLIN | Arrested Audi CEO Rupert Stadler leaves company

BERLIN— Suspended Audi CEO Rupert Stadler is leaving the automaker, parent company Volkswagen said Tuesday, more than three months after he was arrested as part of a probe into the manipulation of diesel emissions controls. Volkswagen said its supervisory board approved an agreement with Stadler that will see him leave with immediate effect. It said … Continue reading BERLIN | Arrested Audi CEO Rupert Stadler leaves company

BRUSSELS | EU investigates German carmakers for possible collusion

BRUSSELS — European Union regulators have opened an in-depth investigation into whether automakers BMW, Daimler and Volkswagen colluded to limit the development and roll-out of car emission control systems. The EU Commission said Tuesday that it had received information that BMW, Daimler, Volkswagen, and VW units Audi and Porsche held meetings to discuss clean technologies … Continue reading BRUSSELS | EU investigates German carmakers for possible collusion

DETROIT | VW to stop making iconic Beetle next summer

DETROIT — After selling it on and off in the U.S. for nearly seven decades, Volkswagen has decided to squash its iconic Beetle. The company’s American unit announced Thursday that it would end global production of the third-generation bulbous bug in July of next year after offering two special editions for sale. The compact Beetle … Continue reading DETROIT | VW to stop making iconic Beetle next summer

FRANKFURT, Germany | Trial begins in $10B investor lawsuit against Volkswagen

FRANKFURT, Germany — Trial proceedings have begun in the lawsuit brought against Volkswagen by investors alleging the company did not give them timely notice of its scandal over cars rigged to cheat on diesel emissions tests. Investors are seeking almost 9 billion euros ($10.4 billion), saying Volkswagen didn’t give them the information they needed to … Continue reading FRANKFURT, Germany | Trial begins in $10B investor lawsuit against Volkswagen

FRANKFURT, Germany | Monitor urges more openness at Volkswagen in wake of scandal

FRANKFURT, Germany — The official overseeing Volkswagen’s court settlements in its diesel scandal says he is pushing back against the company’s withholding of information under confidentiality rules. Larry Thompson said he has disagreed with Volkswagen’s use of attorney-client privilege to delete information from documents submitted to him. Thompson, a former deputy U.S. attorney general, make … Continue reading FRANKFURT, Germany | Monitor urges more openness at Volkswagen in wake of scandal

FRANKFURT, Germany  | Volkswagen sees profit rise but warns on trade disputes

FRANKFURT, Germany  — Volkswagen said its earnings rose in the second quarter on record sales and fatter profit margins, but warned that “growing protectionism” is a threat to the globally connected car industry. The automaker based in Wolfsburg, Germany, said Wednesday that profit increased 6.8 percent to 3.31 billion ($3.85 billion) euros, despite a charge … Continue reading FRANKFURT, Germany  | Volkswagen sees profit rise but warns on trade disputes

FRANKFURT, Germany | Volkswagen profit rises 6.8 percent despite diesel costs

FRANKFURT, Germany — Volkswagen says its profits rose 6.8 percent in the second quarter compared to the year-earlier quarter despite 1.6 billion euros ($1.9 billion) in charges for its diesel problems. The Wolfsburg, Germany-based automaker said Wednesday that profit rose to 3.31 billion euros from 3.10 billion a year earlier. Revenues rose 3.4 percent to … Continue reading FRANKFURT, Germany | Volkswagen profit rises 6.8 percent despite diesel costs

FRANKFURT, Germany | Profit slips at Volkswagen after accounting change

FRANKFURT, Germany — Profits have slipped at automaker Volkswagen in the first quarter due to a change in accounting rules, but sales increased and the company recorded no significant additional losses from its diesel emissions scandal. Net profit fell 2 percent to 3.3 billion euros on sales that rose 4 percent to 58.2 billion euros. … Continue reading FRANKFURT, Germany | Profit slips at Volkswagen after accounting change

Volkswagen: We’ll buy your diesel back if it’s banned

FRANKFURT, Germany/March 29, 2018 (AP)(STL.News)— Volkswagen is trying to reassure German customers worried about the future of their diesel cars by telling them they can trade in their new diesel if it is banned from the road by cities trying to meet air pollution limits. The company said Thursday that the guarantee applies to new … Continue reading Volkswagen: We’ll buy your diesel back if it’s banned

Volkswagen sales hit record of 10.74 million in 2017

FRANKFURT, Germany/January 17, 2018 (AP)(STL.News) — German automaker Volkswagen had record sales of 10.74 million vehicles last year as markets in Brazil and Russia rebounded strongly. Sales rose 4.3 percent from 10.30 million in 2016, when Volkswagen passed Japanese rival Toyota to become the globe’s largest auto producer for that year. The figures show the Wolfsburg-based company … Continue reading Volkswagen sales hit record of 10.74 million in 2017

Hyundai, VW, ink deals with all-star autonomous vehicle firm

DETROIT/January 04, 2018 (AP)(STL.News) —Hyundai and Volkswagen each say they’re partnering with a U.S. autonomous vehicle tech firm led by former executives from Google, Tesla and Uber. The companies on Thursday announced partnerships with Aurora Innovation, started last year by ex-Google autonomous car chief Chris Urmson and others. VW says its collaboration will help bring self-driving cars … Continue reading Hyundai, VW, ink deals with all-star autonomous vehicle firm