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Volkswagen AG

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  • *Fiat Chrysler CEO Calls for "largescale" consolidation. MILAN/ DETROIT, April 29- Fiat Chrysler Automobiles Chief Executive Sergio Marchionne on Wednesday made a plea for shrinking the number of players in the global auto industry as the company reported lower-than-expected first quarter results and outlined new plans to boost North American profit...

  • Volkswagen AG said Wednesday that its efforts to reduce costs had saved more than 100 million euros in the quarter— a figure "in the low triple-digit millions," as the news release put it— at the mass-market Volkswagen brand. The Volkswagen brand was still hit by falling sales in Russia, which is suffering from economic sanctions over Ukraine and a fall in the ruble,...

  • BERLIN, April 28- Record sales of luxury Mercedes-Benz cars helped Daimler to beat first-quarter earnings forecasts and close its profitability gap with German rivals BMW and Audi. Daimler's flagship Mercedes-Benz division has lagged BMW and Audi on deliveries and profitability in recent years, but demand for the revamped C-Class saloon and a growing...

  • VW chairman quits, but questions over future remain Monday, 27 Apr 2015 | 12:05 PM ET

    FRANKFURT, Germany— Volkswagen's patriarch has left the building. Ferdinand Piech shaped the company's destiny for more than 25 years. Piech had criticized CEO Martin Winterkorn in an interview with Germany's Der Spiegel magazine, saying he was "at a distance" from him.

  • Volkswagen looks beyond boardroom struggle Monday, 27 Apr 2015 | 4:43 AM ET
    Volkswagen AG Chairman Martin Winterkorn speaks at the company's annual press conference to announce financial results, March 13, 2014, in Berlin.

    Volkswagen said in a statement that Ferdinand Piëch would resign as chairman of the automaker's supervisory board.

  • FRANKFURT, April 26- Ferdinand Piech's iron-fisted rule over Volkswagen helped him build an empire spanning fuel-efficient city cars to 40- tonne trucks, but in the end he overplayed his hand and was forced out before reaching his goal of making VW the world's biggest carmaker. Piech took the reins at VW's Audi in 1988 before he joined the parent company and...

  • Volkswagen chairman Piech resigns after dispute over CEO Saturday, 25 Apr 2015 | 12:38 PM ET

    FRANKFURT, Germany— Ferdinand Piech, chairman of the board of Volkswagen AG and a major figure in the German auto industry, has stepped down after clashing with other board members over his criticism of the company's CEO. Piech had said in an interview with Der Spiegel published earlier this month that he was distancing himself from CEO Martin Winterkorn.

  • GM misses on the top & bottom line Thursday, 23 Apr 2015 | 7:30 AM ET
    General Motors' Chevrolet logo is displayed during the 2015 North American International Auto Show in Detroit, last January.

    General Motors says weakness in South America and Russia hurt demand.

  • SHANGHAI, April 23- China stocks rose to fresh seven-year highs on Thursday, with weaker-than-expected factory activity data reinforcing expectations of fresh government stimulus. The flash HSBC/ Markit Purchasing Managers' Index showed that China's factory activity in April contracted at its fastest pace in a year, suggesting that economic conditions...

  • China fines Mercedes $56.5M for price fixing Thursday, 23 Apr 2015 | 2:57 AM ET

    A local pricing regulator in China said on Thursday it has fine Daimler's Mercedes-Benz $56.49 million for price fixing.

  • Toyota beats VW, GM for top place in global vehicle sales Thursday, 23 Apr 2015 | 12:48 AM ET

    TOKYO— Toyota Motor Corp. is still at the top in global vehicle sales after the first quarter, selling 2.52 million vehicles around the world, outpacing rivals Volkswagen and General Motors even as weakness in Japan dragged on its growth. Volkswagen edged out U.S. automaker General Motors Co., which reported global sales of 2.4 million vehicles earlier this...

  • *Net flow into China's stock market totalled 781.4 billion yuan last week. SHANGHAI, April 23- China stocks advanced to fresh seven-year highs on Thursday as weaker-than-expected factory activity data reinforced expectations that Beijing will roll out more stimulus measures and keep the financial system flush with cash. Investors only care about the...

  • China fines Mercedes $57 million in price-fixing probe Thursday, 23 Apr 2015 | 12:24 AM ET

    BEIJING— A Chinese regulator said Thursday it has fined Mercedes Benz 350 million yuan on price-fixing charges in a wide-ranging probe of the auto industry that has prompted complaints foreign automakers are being treated unfairly. The unit of Germany's Daimler AG was fined for violating anti-monopoly law by enforcing minimum prices dealers were...

  • OTTAWA, April 23- German car maker Volkswagen AG will get 400 million Euros in trade financing from Canada to help expand its southern U.S. and Mexican operations and thereby generate business for Canadian firms, Ottawa said on Thursday. "With the southern U.S. and Mexico increasingly becoming prime production locations for global automakers, EDC has a role to...

  • UPDATE 1-China fines Mercedes $56.5 mln for price fixing Wednesday, 22 Apr 2015 | 11:06 PM ET

    SHANGHAI, April 23- A local pricing regulator in China said on Thursday it has fined Daimler AG's Mercedes-Benz 350 million yuan for price fixing. China has been clamping down on the auto sector, punishing foreign carmakers for price fixing for the first time last year when it fined the Chinese venture of Volkswagen AG and a sales unit of Fiat Chrysler...

  • FRANKFURT, April 22- Nokia's maps business has drawn interest from potential buyers including Facebook and a consortium of German carmakers made up of BMW, Audi and Daimler, a German magazine reported on Wednesday. Nokia is also trying to drum up interest from Apple Inc, Alibaba Group Holding Ltd and Amazon.com Inc, Bloomberg reported, citing people familiar...

  • FRANKFURT, April 22- Nokia's maps business has drawn interest from at least four potential buyers including Facebook and a consortium of German carmakers BMW, Audi and Daimler, a German magazine reported on Wednesday. Hellman& Friedman, BMW, Audi and Daimler were not immediately available for comment. Finland's Nokia said last week it had started a strategic...

  • FRANKFURT, April 22- Nokia's maps business has drawn interest from at least four potential acquirors, including Facebook and a consortium of German carmakers BMW, Audi and Daimler, a German magazine reported on Wednesday. Uber, Hellman& Friedman, BMW, Audi and Daimler were not immediately available for comment. Finland's Nokia said last week it had started a...

  • Volvo ousts chief executive; shares jump 13% Wednesday, 22 Apr 2015 | 3:03 AM ET

    Sweden's Volvo named the head of Volkswagen-owned Scania as its chief executive on Wednesday, replacing embattled Olof Persson.

  • DETROIT— Mexico has become the most attractive place in North America to build new automobile factories, a shift that has siphoned jobs from the U.S. and Canada, yet helped keep car and truck prices in check for consumers. In the past two years, eight automakers have opened or announced new plants or expansions in Mexico. A worker in Mexico costs car companies an...