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Porsche shares avoided dropping below its IPO pricing for the first two days of trading on Thursday and Friday

Porsche shares fall below IPO pricing

Shares in sports car brand Porsche fell below its listing price today, the third day of trading since its $72 billion listing by parent company Volkswagen.

Business • 03 Oct 22

Today's Porsche AG IPO was Germany's biggest listing since Deutsche Telekom in 1996

Porsche shares flat at close after landmark listing

Porsche AG made its debut on the stock market today, with a price tag of about €75 billion after Volkswagen priced shares at the top end of the range, braving turbulent market conditions.

Business • 29 Sep 22

As part of the listing, 911 million Porsche AG shares will be divided into 455.5 million preferred shares and 455.5 million ordinary shares

Volkswagen targets €75 billion valuation in Porsche IPO

Volkswagen is targeting a valuation of up to €75 billion for luxury sportscar maker Porsche, in what will be Germany's second-largest initial public offering (IPO) in history.

Business • 19 Sep 22

The carmaker confirmed its outlook for the full year as first-half results were overall strong

Volkswagen confirms outlook as operating profits tumble

The Volkswagen Group saw a 27.7% fall in operating profit before special items to €4.7 billion in the second quarter, the carmaker reported today, as negative valuation effects from commodity hedging transactions weighed on results.

Business • 28 Jul 22

Volkswagen's CEO Diess to leave company

Volkswagen's Herbert Diess is stepping down as chief executive, VW said today, a major change at the helm of one of Germany's most prominent global companies.

Business • 22 Jul 22

Inflation, supply chain bottlenecks, rising coronavirus cases in some countries and an ongoing chip shortage are just a few of the problems plaguing the auto industry in the region

New car sales in Europe lowest since 1996

Europe registered the lowest number of new passenger cars in the month of June this year since 1996 at just over 1.06 million vehicles, with some carmakers seeing sales drop by nearly 50%, data from Europe's automobile association showed today.

Business • 15 Jul 22

Volkswagen has reported sales of €62.7 billion for the first three months of the year, up 0.6% year-on-year

Volkswagen keeps outlook despite supply chain woes

Volkswagen, Europe's top carmaker, has today stuck to its outlook for the current year after its global production network helped it offset supply chain disruptions caused by the war in Ukraine and the coronavirus pandemic.

Business • 04 May 22

Russia's invasion of Ukraine led to a shortage of wire harnesses that bundle up to 5km (3.1 miles) of cables in a vehicle

Truckmaker MAN resumes production after supply crisis

German commercial vehicle maker Traton's MAN unit restarted production from today after a six-week gap caused by supply problems resulting from the war in Ukraine, the company said.

Business • 25 Apr 22

Volkswagen has warned that the outbreak of war in Ukraine called its annual forecast of an 8-13% boost to revenue into question

Volkswagen profits rise but war could still make impact

Volkswagen today warned that it had started to feel the impact of the war in Ukraine on supply chains and raw materials prices in the first quarter, with the longer-term effects on its business difficult to predict.

Business • 14 Apr 22

Antlitz said VW would reduce its range of petrol and diesel cars

VW to scrap models and focus on premium market

German carmaker Volkswagen will axe many combustion engine models by the end of the decade and sell fewer cars overall to concentrate on producing more profitable premium vehicles, its finance chief said today.

Business • 06 Apr 22

A worker secures a battery pack to a Volkswagen ID.3 electric car

Volkswagen efforts to secure e-battery materials supply

Volkswagen is to form joint ventures with Huayou Cobalt and Tsingshan Group to secure nickel and cobalt supplies in China, the world's largest car market, in a bid to slash costs at a time of surging raw material prices.

Business • 21 Mar 22

VW is the biggest member company by revenue to join the Initiative for Responsible Mining Assurance

Volkswagen joins sustainable mining initiative

Volkswagen has joined a group that sets environmental and social standards in mining as the world's second biggest carmaker steps up efforts ensure its raw materials are sustainable, especially in electric vehicles (EVs).

Business • 17 Mar 22

Ford plans to boost spending on electric vehicles to $50 billion up to 2026

Ford and Volkswagen deepen electric vehicle cooperation

Ford has deepened its e-mobility partnership with Volkswagen which will see the US carmaker produce a second electric vehicle for the European market based on its German rival's platform.

Business • 14 Mar 22

Volkswagen CEO Herbert Diess said the Ukraine war could be worse for the European economy than the Covid-19 pandemic

Economic damage from war may be worse than Covid - VW

Volkswagen's chief executive officer has warned that a prolonged war in Ukraine risks being "very much worse" for the European regions economy than the coronavirus pandemic, the Financial Times reported today.

Business • 10 Mar 22

Carmakers around the world have been hit by a shortage of semiconductors caused by Covid-19 supply-chain disruptions

Volkswagen expects chip shortage to ease later in 2022

German carmaker Volkswagen expects a continued hit from a shortage of semiconductors this year, although Chief Executive Herbert Diess said it should be able to ramp up production in the second half of the year.

Business • 16 Feb 22

German rivals Volkswagen and Daimler both have direct stakes in battery cell makers

BMW still cautious on bringing battery output in-house

BMW won't scale up its own battery cell production for electric cars until the technology has developed further, the German company said today, taking a more cautious approach than some rivals despite record brand sales in 2021.

Business • 13 Jan 22

VW said it expected supply chain conditions to remain volatile in the first half of 2022

VW's sales hit 10-year low in 2021 as BMW races ahead

Volkswagen Group posted its lowest sales figures in 10 years in 2021 at 8.9 million deliveries, the carmaker said today, and it said it expected supply chain conditions to remain volatile in the first half of this year.

Business • 12 Jan 22

Volkswagen's chief executive Herbert Diess

VW's Diess set to remain as CEO, but with fewer powers

Volkswagen CEO Herbert Diess will likely stay on to lead Europe's largest carmaker as part of a solution that will see him cede some responsibilities following a clash with labour leaders, two people familiar with the matter said.

Business • 07 Dec 21

Toyota said that in many areas of the world, such as Asia and Africa, an environment suitable for promoting full zero emission transport has not yet been established

Toyota says world not yet ready for zero-emission cars

Large parts of the world are not ready for zero-emission vehicles, which is why Toyota did not sign a pledge this week to phase out fossil-fuel cars by 2040, the world's largest car maker has said.

Business • 12 Nov 21

Skoda's production lines came back on line on Sunday after a two-week outage caused by the chip shortage

Skoda to make quarter of a million fewer cars this year

Volkswagen owned Skoda Auto said today it will make about a quarter of a million fewer cars than anticipated this year due to a shortage of semiconductor chips.

Business • 01 Nov 21

Volkswagen expects deliveries in 2021 to be only in line with the previous year, having previously forecast a rise

Chip crunch deals blow to Volkswagen as Q3 falls short

Volkswagen has cut its outlook for deliveries, toned down sales expectations and warned of cost cuts as a shortage of computer chips caused the world's second biggest carmaker to report lower-than-expected operating profit for the third quarter.

Business • 28 Oct 21

Volkswagen sold Europcar in 2006 but is now looking to reacquire control in order to tap into the growth of car sharing and 'on-demand' car hire

Volkswagen makes €2.5bn bid to take over Europcar

German carmaker Volkswagen has offered €2.5 billion for French car rental firm Europcar, in an offer backed by a British investment firm and a Dutch tech company.

Business • 20 Sep 21

The four former managers allegedly organised commercial fraud and tax evasion in relation to the 'dieselgate' scandal

Four ex-VW managers on trial over 'dieselgate' scandal

The trial of four former Volkswagen managers accused of fraud in the "dieselgate" emissions-cheating scandal has begun in the absence of the group's ex-boss, whose day in court was delayed for health reasons.

World • 16 Sep 21

Volkswagen boss Herbert Diess has said that autonomous cars were the 'real gamechanger' for the industry

Smart cars, not e-cars, are gamechanger: Volkswagen CEO

Volkswagen boss Herbert Diess has said that autonomous cars, not electric vehicles, were the "real gamechanger" for the auto industry, which is facing the end of combustion engines in Europe by 2035.

Business • 06 Sep 21

SEAT said it produced 8,000 cars in August, partly offsetting a shortfall in the first half

SEAT partly halts output at Spanish plant on shortage

Volkswagen's Spanish unit SEAT has partly halted car assembly at its plant near Barcelona due to the global semiconductor supply bottleneck, the company said in a statement today.

Business • 20 Aug 21