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Over two-thirds of the five-year investment budget is allocated towards electrification and digitalisation at Volkswagen

Volkswagen to invest €180 billion in five-year plan

Volkswagen plans to invest €180 billion over the next five years in areas including battery production and its North American operations, it said today, with spending on combustion engines to decline from 2025.

Business • 14 Mar 23

Porsche overtook Volkswagen as Europe's most valuable carmaker within a week of its stock market debut

Porsche sees record earnings for 2022

Porsche has reported record earnings in 2022, with profits up by over a quarter to €6.8 billion on a rise in deliveries of 2.6%.

Business • 13 Mar 23

Volkswagen has agreed a two-year wage deal for workers at its western German factories, offering around 8.5% more pay

Volkswagen strikes below-inflation wage deal

Volkswagen has today agreed a two-year wage deal for workers at its western German factories, offering around 8.5% more pay, which was below inflation but above what other employers have yielded in recent weeks.

Business • 23 Nov 22

Volkswagen has maintained its outlook for the year of the upper end of forecasts

Volkswagen Q3 earnings stagnate below pre-Covid levels

Volkswagen has today reported third-quarter earnings of €4.3 billion, behind pre-pandemic levels, following €1.6 billion in one-off effects from the suspension of Russian activities and its Porsche AG listing.

Business • 28 Oct 22

Volkswagen listed Porsche on the Frankfurt stock exchange last month in what was Germany's second-largest listing on record

VW gets €9.1bn by selling preferred Porsche shares

Volkswagen raked in €9.1 billion via the sale of preferred shares in sportscar brand Porsche, less than the maximum because a greenshoe option was only partially exercised, it said today.

Business • 11 Oct 22

Porsche has a market valuation of €85 billion

Porsche overtakes VW as Europe's most valuable carmaker

Porsche took pole position as Europe's most valuable automaker today, overtaking former parent Volkswagen as the price of the sportscar maker's newly-listed shares sped higher.

Business • 06 Oct 22

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