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.

Volkswagen shares were down 3% in early trade on Monday with analysts citing uncertainty about the automaker's cost-cutting deal with unions and likely headwinds in 2025.

Volkswagen shares fall as markets struggles to digest unions deal

A reduction in managers' bonuses at Volkswagen will lead to a 10% pay cut for the next two years, the Sueddeutsche Zeitung newspaper reported on Sunday, after the German carmaker struck a deal with unions to axe jobs and scale back production.

VW managers to get 10% pay cut in plan to slash bonuses, German newspaper reports

Volkswagen announced sweeping changes to its German operations, including more than 35,000 future job cuts and capacity reductions in a last-gasp deal between Europe's top carmaker and unions on Friday to avert mass strikes.

VW, union agree to cut 35,000 jobs in Germany, avert strikes

Here are the main points of a deal struck on Friday between Volkswagen and unions on the carmaker's German sites and jobs. The agreement followed more than 70 hours of talks and averted the spectre of strikes at Europe's largest carmaker.

The main points of Volkswagen's deal with unions on German sites and jobs

Volkswagen on Friday said it had agreed with unions to cut more than 35,000 jobs at its German sites by 2030 in a socially responsible manner, which would help achieve more than 15 billion euros ($15.65 billion) in efficiency gains.

Volkswagen to cut more than 35,000 jobs in Germany by 2030

Volkswagen plans to cut more than 10,000 jobs in the next few years as part of an agreement with unions over the future of the German brand, manager magazin reported, not citing where it obtained the information.

More than 10,000 jobs to be cut at VW in next years, says Manager Magazin

Volkswagen and its works council reached a provisional deal on cost-cutting measures that still requires further scrutiny and agreement from both sides, Handelsblatt reported on Friday, citing people familiar with the proceedings.

VW and works council reach provisional deal, Handelsblatt reports

There has been rapprochement between Volkswagen and the IG Metall union during the longest-ever talks over pay and job security, sources close to the negotiations told Reuters on Friday, without providing further details.

Rapprochement between Volkswagen and union in wage talks, sources say

VWAGY and its subsidiary, PowerCo, enter into a strategic partnership with Patriot to invest CAD69 million in the Canadian lithium developer to acquire a 9.9% stake.

Volkswagen Invests CAD69M in Patriot to Acquire 9.9% Stake

Intensive negotiation between Volkswagen and labor leaders continue over how to proceed with cost cuts at the auto giant.

Volkswagen and Unions Enter Fourth Day of Talks

Talks between Volkswagen and labour unions over plant closures and pay cuts are expected to last well into Thursday as both sides have still not reached a deal, according to two people familiar with the matter.

Volkswagen, unions still locked in talks over plant closures, pay cuts, sources say

Volkswagen and labour unions are nearing an agreement to restructure the brand without closing factories in Germany, Bloomberg reported on Thursday, citing people familiar with the matter.

Volkswagen nears deal with unions to keep car plants open, Bloomberg says

Patriot Battery Metals said on Wednesday automotive giant Volkswagen has invested approximately C$69 million ($48.18 million) for a 9.9% stake in the Canadian lithium developer.

Volkswagen takes 9.9% stake in lithium developer Patriot Battery Metals for C$69 mln

Talks between Volkswagen and unions on cuts to its German operations continued through the night and into Wednesday, according to two sources familiar with negotiations, as the sides battle to reach a solution before Christmas.

Talks between VW, unions over cuts continue into Wednesday, sources say

Volkswagen and labor leaders head into a second day of talks over cost cuts on Tuesday after negotiations that lasted late into Monday night ended without agreement.

Volkswagen Labor Talks Continue

Volkswagen management and labour representatives will resume high pressure talks on Tuesday morning over planned cost cuts to the carmaker's German sites after a 13-hour negotiation round on Monday failed to produce an agreement.

VW, unions resume last-ditch round of talks for the year on cost cuts

Volkswagen works council chief Daniela Cavallo is hoping for a good compromise this year in the German carmaker's row with workers over cost-cutting, she said ahead of the latest round of negotiations on Monday.

VW labour representative hopes for compromise before Christmas

Despite the disappointing performance, we believe Wall Street undervalues VW's potential, creating upside risk. Key challenges include restructuring costs, tariff implications, and high CAPEX plans, but potential savings and margins uplift performance could improve profits. Our 2025 forecast shows a 5.61% EBIT margin with significant restructuring efforts (which is below the management target), leading to a target price of €147 per share.

Volkswagen: Restructuring In Place Means Short-Term Pain And Long-Term Gain

Porsche Automobil Holding SE

Porsche SE , the holding company which owns a third of Volkswagen , expects an impairment on its investment in the carmaker of up to 20 billion euros ($20.98 billion), it said on Friday.

VW top shareholder Porsche SE sees impairment on investment of up to 20 bln euros

Atlanta, Dec. 13, 2024 (GLOBE NEWSWIRE) -- Porsche Financial Services, Inc. (PFS), headquartered in Atlanta, Georgia, has issued its third U.S. auto Asset Backed Securities (ABS) offering of 2024 with a principal amount of $891 million dollars. This follows two auto lease ABS issuances by PFS in August and October. Porsche Financial Services, Inc. is an indirect, wholly owned subsidiary of German luxury car maker Dr. Ing. h.c. F. Porsche AG (“Porsche AG”). Supported by a growing base of loyal investors, the issuance achieved record pricing for an auto transaction in the U.S. ABS market since April 2022, when the industry moved to the I-curve. The AAA-rated securities, issued in the Rule 144A transaction were divided into five tranches, including a floating rate tranche, and backed by a pool of retail sales contracts financing Porsche vehicles. This was also the first time that PFS included a percentage of battery-electric vehicles into the transaction. The transaction was led by Société Générale and supported by Bank of America Securities, CIBC, Truist Bank, and BNP Paribas as book runners. The deal attracted strong subscription levels in each tranche from a growing investor base, comprised of investments funds, asset managers of financial institutions, trusts, banks and corporates. “We are thrilled with the result of our final issuance of 2024,” says Tobias Hausladen, Treasurer & Chief Financial Officer, Porsche Financial Services, Inc., “The successful execution of five deals across our lease and retail installment sales contract programs since May 2023 is a remarkable accomplishment. I am very grateful for the loyal investor base we were able to build over the last 18 months.” Porsche Financial Services, Inc. (PFS), based in Atlanta, Georgia, is the dedicated provider of leasing and financing products for Porsche in the United States. Founded in 1991, PFS provides custom financial solutions and products to Porsche customers and dealers in the United States. In 2012, PFS expanded its North America operations to become the captive finance provider for the exclusive brands of the Volkswagen Group which include Bentley, Lamborghini, and Bugatti. As an integrated premium financial services provider, every new product – whether it be a leasing offer or a service offer – contains the DNA of some of the world's most exclusive vehicle manufacturers.

Porsche Financial Services, Inc. Celebrates Successful Auto Transaction in the U.S. ABS Market

Volkswagen's supervisory board is leaning against closing large plants in Germany to tackle the carmaker's cost crisis, a report by business monthly manager magazin said on Thursday, though no final agreement has been reached.

Volkswagen's board leans against closing big plants in Germany, media report says

Volkswagen said Wednesday it is offering its newly unionized workers at its Tennessee assembly plant a 14% wage increase over four years and profit sharing.

VW offers 14% wage hike over four years to Tennessee factory workers

Both sides said the latest round of negotiations had been constructive, but further talks would be needed to find a way forward.

Volkswagen, Labor Leaders to Meet Next Week as Talks End Without Agreement

Volkswagen workers began striking for the second time this month as employee representatives and management enter a fourth round of talks over deep cost-cutting measures at the car maker.

Volkswagen Workers Begin Second Walk-Out as Cost-Cut Negotiations Continue

Volkswagen's chief negotiator Arne Meiswinkel said on Monday that unions and management needed to find alternative pathways to a solution for its German plants after the company rejected a proposal put forward by unions as unsustainable.

News for Volkswagen AG Stock (VWAGY)