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.

European auto stocks look cheap. The companies are cutting costs and revamping operations.

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Bentley Motors is once again pushing back a target to exclusively offer all-electric vehicles, with plans to continue leaning into plug-in hybrid electric vehicles through at least 2035. The Volkswagen-owned carmaker initially said in 2020 that it planned to exclusively offer all-electric vehicles by the end of this decade.

Bentley Motors further delays all-EV plan amid weak demand as it embraces plug-in hybrids

Volkswagen will recall 114,478 vehicles in the United States on concerns over the driver-side airbag, the National Highway Traffic Safety Administration said on Thursday.

Volkswagen to recall over 114,000 US vehicles over airbag concern, NHTSA says

Workers at Volkswagen's Osnabrueck plant, considered a possible target for closure under the German automaker's restructuring plans, are holding fresh warning strikes on Wednesday as part of regional protests over pay, the IG Metall union said.

VW workers at Osnabrueck plant hold fresh warning strike

Porsche Automobil Holding SE

TORONTO and MONTREAL, Nov. 04, 2024 (GLOBE NEWSWIRE) -- Porsche Cars Canada, Ltd. (PCL) is pleased to announce a collaboration with ROYALMOUNT in Montreal. This cooperation highlights both companies' aspirations in providing unique luxury customer experiences with a desire to promote sustainable living.

Porsche Canada kicks off collaboration with ROYALMOUNT in Montreal

Volkswagen's planned cost-cutting programme was unavoidable in order to remedy "decades of structural problems" at the German carmaker, CEO Oliver Blume said in an interview published on Sunday.

VW cost cutting necessary after 'decades of structural problems', CEO tells paper

In the city of Zwickau, which has a proud history in the country's mighty automobile industry, there are fears about the economic and political fallout

Volkswagen cuts plan sends shock through the ‘Detroit of east Germany'

POAHY shares are not a vehicle for investing exclusively in Porsche; rather, they provide substantial exposure to VWAGY and other small but innovative ventures. Given the increase in net debt, a dividend cut is likely to be expected. The debt level is shrinking, creating a favorable discount in the share price relative to NAV.

Not Just A Porsche Stock, But It Could Still Hold Hidden Alpha

Germany's cartel office has approved Porsche AG's acquisition of a non-controlling interest in Varta as well as a majority of shares and sole control of the battery maker's business unit for lithium-ion cells for electric cars.

German cartel office approves Porsche's sole control of Varta's V4Drive

Rivian Automotive

VW's new offshoot EV company Scout Motors, which revealed its first two vehicles last week, will use the software and zonal architecture being developed by the joint venture between Rivian and the Volkswagen Group.

Scout Motors EVs will use Rivian-VW software and architecture

The automaker said it needed to urgently cut costs after reporting a sharp fall in third-quarter earnings hurt by weaker car sales in China.

Volkswagen in Drive to Cut Costs as Earnings Plunge

Volkswagen wants its workforce to take pay cuts of 10% in order to remain competitive and safeguard jobs, the company said in a statement on Thursday.

Volkswagen calls for 10% pay cuts

Volkswagen has proposed to cut wages at its brand by 10% to tackle weak demand and high costs, the division's personnel chief Arne Meiswinkel told journalists after the second round of talks with unions.

VW proposes 10% pay cut to tackle crisis

Volkswagen AG (OTCPK:VWAGY) Q3 2024 Earnings Conference Call October 30, 2024 4:00 AM ET Company Participants Pietro Zollino - Head of Corporate Communications & Deputy Head of Group Communications Rolf Woller - Head of Group Treasury & Investor Relations Arno Antlitz - CFO and COO Conference Call Participants Jose Asumendi - JPMorgan Patrick Hummel - UBS Tim Rokossa - Deutsche Bank Horst Schneider - Bank of America Securities Henning Cosman - Barclays Tom Narayan - RBC Capital Markets Stephen Reitman - Bernstein Michael Tyndall - HSBC Daniel Schwarz - Stifel Michael Punzet - DZ Bank George Galliers - Goldman Sachs Operator Ladies and gentlemen, welcome to the Volkswagen AG Investor Analyst and Media Call 9 Months 2024. I am George, the Chorus Call operator.

Volkswagen AG (VWAGY) Q3 2024 Earnings Call Transcript

Volkswagen's current undervaluation presents a significant upside, with potential returns of over 20% annually, driven by improved KPIs and strategic adjustments. Despite challenges, VW's fundamentals remain strong, with a BBB+ rating, low long-term debt, and a well-covered dividend, making it a solid investment. The company is transitioning in 2024, focusing on balancing ICE and EV investments, cutting capacity, and expanding in North America for future growth.

Volkswagen: Why The Decline(s) Do Not Bother Me

Germany's automotive industry is facing an increasingly difficult outlook. Volkswagen may close factories in Germany for the first time, and BMW and Mercedes-Benz are struggling.

Volkswagen stumbles in China as Germany's auto giants struggle to compete in the EV race

Drop comes as carmaker faces battle with unions over plan to shut three factories in Germany

Volkswagen hit by 60% fall in profits as sales in China slump

The German car maker reported a sharp 12% drop in its sales in China as it said it profits were hit by higher fixed costs and €2.2 billion worth of restructuring expenses

Volkswagen CFO says 64% drop in profits shows ‘urgent need' for cost cuts

Volkswagen Group (XETRA:VOW) underlined the depth of its current crisis with a two-third drop in profits and a warning that it needs significant job cuts and closures to turn its fortunes around. Just two days after unions warned that the German car giant planned to cut three plants and sack thousands of workers, VW said net profit dropped 64% to €1.57 billion in its September quarter while revenue fell 0.5% to €78.5 billion.

Volkswagen profits tumble as management calls for 'urgent' restructuring

Volkswagen on Wednesday said its third-quarter operating profit plunged 42% as weak performance in the core passenger car unit and high costs, including for model revamps, hit the automaker.

Volkswagen reports third-quarter profit slump as major overhaul looms

German automaker Volkswagen on Wednesday reported a 42% drop in operating profit in the third quarter.

Volkswagen profit plunges 42% in third quarter amid sweeping overhaul plans

Volkswagen and its powerful unions will lock horns on Wednesday for a second time over management plans for plant closures and mass layoffs, as Europe's biggest automaker battles to cope with high costs and growing competition.

VW and workers face off in second round of talks over pay and plants

Volkswagen is looking to achieve the majority of its billion-euro savings drive through wage cuts, Handelsblatt reported on Tuesday, citing a board of directors document.

Volkswagen eyes pay cuts to achieve majority of savings, reports Handelsblatt

Volkswagen's luxury division Audi is in talks with a potential investor for its struggling Brussels plant, a company spokesperson said on Tuesday.

Volkswagen's Audi in talks with potential investor for Brussels site

Volkswagen sees discounts on electric vehicles in China as "part of the business," the German carmaker's China boss Ralf Brandstaetter said in an interview with Handelsblatt on Tuesday.

News for Volkswagen AG Stock (VWAGY)