European equities closed flat on Thursday, as investors reacted to earnings and banking news.» Read More
German sportscar maker Porsche said Wednesday it had completed its acquisition of more shares in Volkswagen for a total stake of 30.94%, triggering a formal takeover offer to VW's shareholders.
German sports car maker Porsche has exercised an option to take an extra 3.6% voting stake in Volkswagen, Porsche said on Monday, taking its holding to 30.9% as of Wednesday.
Volkswagen's joint venture in China, Shanghai Volkswagen Automotive, has cut its car prices by up to 11,000 yuan ($1,420; 1,000 euros) to improve competitiveness, the company said Friday.
Volkswagen, Europe's largest automaker, said Friday its fourth-quarter profit nearly tripled on strong vehicle sales.
Volkswagen aims to increase its market share in China after sales to the Asian country boosted VW's group unit sales by 7.6% in the first two months of this year, it said on Tuesday.
Volkswagen, Europe's biggest car maker, said Tuesday that its 2006 net profit more than doubled on strong sales but its operating profit was halved by costly restructuring efforts that have seen thousands of jobs eliminated.
The head of Volkswagen's VW brand, Wolfgang Bernhard, is leaving the company at the end of the month, fueling speculation that he may return to DaimlerChrysler and possible replace Chrysler CEO Tom LaSorda, according to CNBC's Phil LeBeau.
Automobile Magazine will announce its “Car of the Year” for 2007 in the upcoming issue--released on January 9th. But “Power Lunch” had an exclusive interview with magazine president, Jean Jennings today. Not only did she did she give up the car of the year secret to Bill Griffeth,--she also told us what Automobile’s says is the best-designed car of the year.
Companies and advertisers usually have no shame in imitating an ad that really works--but rarely do you see a company copy itself. But that's exactly what Volkswagen is doing with its new Passat ads--after the success it had with the same idea for Jetta. Will it work?