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Volkswagen AG

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  • 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.

  • 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...

  • 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...

  • 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...

  • DETROIT— Volkswagen Group edged out General Motors again to take at least second place in the race to be the world's top-selling automaker. The German automaker said it sold 2.49 million Volkswagen, Audi, Skoda and other brand vehicles from January through March. GM said it sold 2.42 million Chevrolet, Opel, Buick, Cadillac, GMC and other branded vehicles, up 1.9...

  • European shares ends higher after China stimulus Monday, 20 Apr 2015 | 11:31 AM ET
    A trader sitting in front of a chart displaying German share index DAX.

    European markets ended higher Monday after China's central bank over the weekend cut the amount of money that banks must hold as reserves.

  • Small is beautiful for Audi in China Monday, 20 Apr 2015 | 2:05 AM ET

    SHANGHAI, April 20- German carmaker Audi AG sees compact cars increasingly becoming the main driver of sales in China, as the country's booming middle class looks for more affordable luxury, the firm's China president Dietmar Voggenreiter said on Monday. Smaller luxury cars are a big volume driver for Audi- the profit engine for Volkswagen AG- and other premium...

  • Global, Chinese automakers debut new car models Monday, 20 Apr 2015 | 1:29 AM ET

    SHANGHAI— Ford showed off its new Taurus and Nissan unveiled a midsize sedan designed for China on Monday at a Shanghai Auto Show that highlighted the commercial resurgence of lower-priced Chinese auto brands. Competition in China is intensifying as economic growth slows and more manufacturers pile into the world's biggest auto market by number of...

  • SEOUL, April 20- Kia Motors Corp released its K9 premium sedan in China on Monday, kicking off its journey upmarket with a model whose sales have been paltry both in the United States and at home in South Korea. "A strong preference for German cars in China will make it even more difficult for Kia to penetrate the premium segment there," said analyst Chae Hee- guen at...

  • SHANGHAI, April 20- Foreign automakers continue to plough money into factories in China, the world's largest car market, even as the biggest economic slowdown in a quarter of a century crimps sales growth. Market leaders Volkswagen AG and General Motors show no sign of letting up on their planned investments, while Toyota Motor and Ford Motor are also pursuing...

  • SHANGHAI, April 19- Foreign automakers continue to plough money into factories in China, the world's largest car market, even as the biggest economic slowdown in a quarter of a century crimps sales growth. Market leaders Volkswagen AG and General Motors show no sign of letting up on their planned investments, while Toyota Motor and Ford Motor are also pursuing...

  • Grilled: Lexus seeks design edge over premium rivals Saturday, 18 Apr 2015 | 2:09 AM ET

    BEIJING, April 18- Big may be beautiful, but Toyota Motor Corp's global design chief is betting that edgy is the way to go for the Japanese automaker's premium Lexus brand, specifically its signature' spindle grille' design. While some industry rivals and design experts say the jagged-edged, trapezoid grille is downright ugly, 63- year-old Fukuichi stands by the...