Herbert Diess apologized for the automaker's emissions-cheating scandal and said it will delay the launch of a diesel vehicle in Japan.
The VW investigation is also looking into managers who knew of the deception and failed to take appropriate measures, the NYT reports.
Political and social crises are hampering Europe's recovery. And even though they may have risen separately, they're increasingly interlinked.
The recall of potentially defective Takata airbags, one of the largest auto recalls in U.S. history, may grow even larger, the NYT reports.
It takes drivers up to 27 seconds to return to full attention after using voice commands to make a call, turn on the radio or perform other tasks.
Volkswagen may have to set aside more than the $7.4 billion it has so far allocated to cover the costs of an emissions scandal if car sales suffer.
65 percent of Germans believe Volkswagen still builds “outstanding” cars and that the emissions scandal was overdone, a recent survey finds.
Former Volkswagen CEO Martin Winterkorn is stepping down as head of Porsche, which technically controls a majority in the German automaker.
Volkswagen said Thursday it will recall about 8.5 million vehicles in Europe.
Volkswagen said it would recall around 8.5 million diesel-engine cars in the European Union.
The man Volkswagen lined up less than three weeks ago to head its North American business resigned on Wednesday.
European equities ended in the red on Wednesday, as investors failed to shake off concerns over the economic slowdown in China.
European stocks closed in the red on Tuesday as investors failed to shake off fresh concerns of a slowdown in China's economy.
Leonardo DiCaprio is keen to take the drama unfolding around Volkswagen's emissions scandal to the silver screen, according to reports.
One CEO beat out Starbucks' Howard Schultz, Nike's Mark Parker and Salesforce.com's Marc Benioff in new performance rankings.
VW's factory employs about 72,000 in a city with just 120,000 inhabitants, while the plant makes 840,000 cars a year, the FT reports.
Tell us which sector in Europe you think has the swagger* to capitalize on a risk-on attitude.
Ferrari will pull into some of the world's wealthiest pit stops on an IPO roadshow aimed at securing a market valuation of $10B. the FT reports.
Winterkorn fostered a climate of fear, an authoritarianism that went unchecked partly due to a company structure unique among German carmakers.
Ferrari expects its U.S. IPO to be priced in a range of between $48 and $52 per share, which could value the company at up to $9.8 billion.