Volkswagen AG said Monday it was targeting a further increase in deliveries and revenues in 2012 despite difficult trading conditions in Europe as the region's biggest carmaker by sales revealed that its board's overall pay would be almost doubled to euro70.59 million ($93 million).
Volkswagen AG, Europe's biggest carmaker by sales, is targeting a further increase in deliveries and revenues in 2012, as it reported a a big drop in net earnings for the fourth quarter of last year.Volkswagen, ...
Earlier this week we reported that at JPMorgan, the many will pay for the crimes of the few, after the bank revealed that compensation for most workers would be flat with 2012, and no raises were planned for the bank's employees as a result of the massive, $20+ billion legal bill the bank has raked up in recent months as one after another market manipulation, fraud and malfeasance by current and former JPM workers has been revealed.
Volkswagen surpassed Toyota Motor to become the biggest automaker by deliveries in the first half, putting the company on track to capture the worldwide sales crown three years ahead of its target. Toyota on Tuesday said it sold 5.02 million vehicles in the six months through June, trailing the 5.04 million that Volkswagen reported earlier this month. Deliveries declined 1.5 per cent for Toyota and 0.5 per cent for Volkswagen. The German carmaker boosted sales in its domestic market and in broader western Europe by more than 6 per cent.
Frankfurt (AFP) - Volkswagen, Europe's biggest car maker, said Friday it notched up record sales and earnings in 2014 but was cautious for 2015 in face of the emerging market weakness and currency fluctuations.VW said in a statement its bottom-line net profit jumped by 19.6 percent to 10.85 billion euros ($12.2 billion) in 2014.
FRANKFURT — Volkswagen will dismiss Chief Executive Martin Winterkorn, a German newspaper said on Tuesday, after the carmaker admitted to cheating U.S. vehicles emissions tests and said 11 million of its cars could be affected worldwide.
The Tagesspiegel newspaper, citing unidentified sources on Volkswagen’s supervisory board, said Winterkorn would be replaced by Matthias Mueller, the head of the carmaker’s Porsche sports car business.
Volkswagen AG (ADR) (OTCMKTS: VLKAY) has come to terms with its Chinese dealers. The largest foreign automaker in China announced that it will consider a softer sales target, according to Bloomberg.
The problem for Chinese dealers is not new. The growth of the automobile industry in China dropped from 14% in 2013 to 7% in 2014, resulting in a lot of dealers not being able to meet their sales target and eventually closing their showrooms under the weight of rising inventory costs.
Paris (AFP) - Peugeot Citroen on Wednesday reported a turnaround in sales in 2014 after three years of decline, spurred by runaway growth in China, now the carmaker's leading market ahead of France.Europe's second-biggest carmaker sold 734,000 vehicles in China, up 31.9 percent on 2013, taking its share of the Chinese car market to 4.4 percent.