| Volkswagen AG VZO O.N. (DE0007664039) | |||
89,26 EURStand (close): 01.07.25 |
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| 22.04.25 13:59:22 | VW Group pitches comeback in China with new models, in-house assisted driving |  |
| By Victoria Waldersee SHANGHAI (Reuters) -Volkswagen Group showcased five new models developed for China and an in-house assisted driving system on Tuesday in Shanghai as it fights to win back share in the fiercely competitive market. The new models include new VW cars and a new Audi range for the Chinese market. The German carmaker also plans to start exporting VW cars from China, aiming to sell some models in other Asian markets, South America and the Middle East, its China chief Ralf Brandstaetter said at an event ahead of the Shanghai auto show starting on Wednesday. The VW brand presented three of its upcoming models at Tuesday's event. None are ready yet for mass production but are part of the group's plans to regain ground as foreign carmakers are losing market share in China, the world's biggest auto market, to a swathe of domestic manufacturers. One, built by VW's joint venture with China's state-owned FAW, is the first model to be based on a new China-specific platform, the CMP, designed to reduce costs for entry-level smaller vehicles by 40%. Volkswagen, once the top seller of passenger cars in China, lost its crown to Chinese EV maker BYD last year after its sales slipped by 9.5% to just under 2.93 million cars, well below BYD's 3.84 million. Its market share in the country fell from 19% in 2019 to 14.5% last year. Volkswagen's premium Audi brand is fighting back with a range of new longer versions of its models designed for the Chinese market, where wealthier consumers with chauffeurs often sit in the back of their cars. On Tuesday, it also showcased the first vehicle of a new model line with a different logo from its famous four rings in a bid to win back sales. The new model line, simply named AUDI in capital letters, will be targeted at younger consumers. Its first car for mass production, the E5 Sportback, will be built on a platform from its joint venture partner SAIC, a Chinese state-owned carmaker, and priced below the German automaker's other models. CARIZON, a joint venture between Volkswagen's software subsidiary Cariad and China's Horizon Robotics, demonstrated the carmaker's first in-house automated driving system, to be integrated into one of its cars this year. A more advanced version system will be available in its entry-level cars from 2026. CHINA EXPORTS Volkswagen's plans to start exporting some VW models from China come as carmakers in China, including Volkswagen, are grappling with how to make use of unused production capacity as annual demand for cars has stagnated at around 22 million cars since 2019. Story Continues "It is fully clear that VW will not export to the U.S. or Europe (from China) except for the Tavascan. But other markets are open like Asian markets, South America and the Middle East," Brandstaetter said. "They are open to products from China. We have competitive models and we are approaching doing export from China to these regions." He did not say which models would be exported from China. Alongside the CMP, Volkswagen also plans a new vehicle platform in China without the help of a joint venture partner for both battery-electric cars and EVs equipped with so-called range extenders, a small combustion engine which adds extra range. "You can't predict what the share of each type of EV will be in 2030. We need to adapt our platforms to provide this flexibility," Brandstaetter said, adding that the ingredients for success in China included assisted driving capabilities, cost management and flexibility in drivetrains. "There is no reason why Volkswagen can't be as fast and as competitive as a Chinese startup with this approach," he said. (Reporting by Victoria Waldersee;Editing by Ludwig Burger and Susan Fenton) View Comments |
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| 18.04.25 18:39:05 | Scout hires former Bentley exec as COO, names new production boss | |
| Scout Motors has bolstered its leadership ranks by hiring one veteran Volkswagen Group executive for the newly created role of COO and elevated another to be its production boss. Jan-Henrik Lafrentz joined Scout as COO on April 1. He was previously Bentley Motors’ board member for finance and information technology. The British ultraluxury brand in February said Lafrentz was departing for a new position within the VW Group. Lafrentz joined VW Group in 1994 and has held finance, sales and marketing roles at Audi, Seat, MAN heavy trucks and Bentley. Sign up to get our afternoon video email. The video focuses on a new topic in the news each day. Scout said its new COO role will support the company’s growth and ambitions as it transitions from EV startup to full-scale operations. “His deep expertise in automotive finance and operations and his proven leadership will be key as we grow our company and scale our business,” Scout said in an email. In October, Scout revealed its two initial vehicles, the Terra pickup and Traveler SUV, designed and engineered specifically for the U.S., where VW Group has longed for a greater market presence. Lafrentz is based in Columbia, S.C., near where Scout is constructing a $2 billion assembly plant in Blythewood, S.C. He will also spend a substantial amount of time at Scout’s R&D center in the Detroit area, a Scout spokesperson said. Scout CFO Chris Condon will report to Lafrentz, the company said. Scout also named Oliver Wollinsky chief production officer. Wollinsky, previously Scout’s vice president of production, takes over for Jan Spies, who died in January. Scout broke ground on the assembly plant in February 2024. Output at the Scout Motors Production Center is set to begin in 2027. Wollinsky joined Scout in 2024 after serving as plant manager for the SAIC-Volkswagen joint venture in China. Scout said Wollinsky oversaw the construction of two manufacturing facilities and helped develop VW Group’s first EV exclusive production site. Wollinsky also held production roles with Mercedes-Benz. Send us a letter to the editor Have an opinion about this story? Tell us about it and we may publish it in print. Click here to submit a letter to the editor. View Comments |
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| 16.04.25 18:12:22 | Volkswagen to keep vehicle prices steady through May | |
| By Nora Eckert DETROIT (Reuters) - Volkswagen confirmed Wednesday that it is joining the growing group of automakers committing to keeping prices steady to ease car shoppers' concerns around tariffs. Automakers have provided stability, and even deep discounts, to consumers amid worries that tariffs will drive up prices on dealer lots. In a flurry of announcements earlier this month, U.S. and foreign-owned carmakers offered a variety of deals or price assurances, looking to capitalize on a surge of nervous shoppers hoping to clinch a deal. German carmaker Volkswagen confirmed it is holding prices steady through May, a similar move to Hyundai Motor, which committed to maintaining sticker prices on its current models through June 2. Ford Motor and Stellantis earlier this month offered shoppers deep discounts across their lineups, and Nissan reduced prices on its 2025 Rogue and 2025 Pathfinder. While the short-term buying frenzy is a boon to carmakers and their dealers, auto executives have warned that sustained tariffs will add excessive costs to the industry, and ultimately weigh on consumers. (Reporting by Nora Eckert in Detroit; Editing by Aurora Ellis) View Comments |
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| 11.04.25 07:04:12 | Volkswagen's Scania buys bankrupt Northvolt's heavy industry battery packs unit | |
| STOCKHOLM (Reuters) - Volkswagen's (VOW3.DE) truckmaker Scania said on Friday it had agreed to buy bankrupt Northvolt's division that makes battery packs for heavy industry, reviving a transaction first presented in February, for an undisclosed price. Sweden's Northvolt filed for bankruptcy last month in one of the country's largest corporate failures, bringing to an end Europe's best hope of developing a rival to Asian electric vehicle battery makers. Scania, part of Volkswagen's truck unit Traton, had in February offered to buy Northvolt Systems Industrial for $6 million, but the bankruptcy put the plan on hold. Scania, a stakeholder and customer of the battery maker, said on Friday it had reached a deal with the bankruptcy trustee - marking the first sale of Northvolt assets after the bankruptcy. The division, which has some 260 employees, makes battery systems for use in construction, mining and other heavy industry equipment at a factory in Poland, and also has a research and development centre in Sweden. Northvolt had for months attempted to sell some of its non-core businesses to try to rescue its core operations that produce battery cells for EVs. Scania said the purchase was in line with its strategy to develop complementary businesses to boost the company's long-term competitiveness. "With this acquisition Scania will strengthen its electrification offering for off-road applications," it said, adding that Northvolt Systems Industrial's operations will continue with business as usual. (Reporting by Marie Mannes, Writing by Anna Ringstrom; Editing by Terje Solsvik and Jamie Freed) |
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| 10.04.25 20:32:00 | Volkswagen Earnings Are the Canary in the Coal Mine | |
| The German auto maker’s results fell short even ebfore “tariffs bite,” said one analyst. That isn’t a good sign for U.S. auto makers. Continue Reading View Comments |
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| 09.04.25 18:37:05 | Volkswagen says quarterly sales are up by 3% | |
| (Reuters) - German carmaker Volkswagen said on Wednesday its sales climbed 3% to 78 billion euros ($85.32 billion) in the first quarter, compared to 75.5 billion euros a year ago. ($1 = 0.9142 euros) (Reporting by Disha Mishra in Bengaluru; Editing by Alan Barona) View Comments |
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| 09.04.25 09:04:16 | Volkswagen Q1 deliveries rise 1.4% helped by almost all markets | |
| (Reuters) - German carmaker Volkswagen saw a slight rise in vehicle deliveries during the first three months of the year, helped by growing demand in almost all markets. Volkswagen delivered a total of 2.13 million vehicles during the first quarter, representing a 1.4% rise compared to the same period last year. The company reported sales growth in all markets, except for China, where deliveries fell 7.1%. (Reporting by Victoria Waldersee, writing by Amir Orusov, editing by Thomas Seythal) |
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| 08.04.25 22:04:47 | Volkswagen's EV sales rise in Europe, plunge in China | |
| BERLIN (Reuters) -The Volkswagen Group's sales of battery-electric cars more than doubled in Europe in the first quarter but fell by more than a third in China, data showed on Wednesday, in a sign of the automaker's diverging fortunes in the electric car market. While Europe's EV demand is picking back up after years of slow growth, China's electric car market remains fiercely competitive, with new EV-only entrants swiping market share from foreign carmakers. Total sales fell in China by 7.1%, despite the carmaker still maintaining a strong share of the combustion engine market at 22%. Mercedes-Benz and Porsche also reported a slump in China sales. Volkswagen said it expected sales of its battery-electric models to gradually ramp up in coming months as it launches new versions of key models such as the ID.3 and ID.4X. At the Shanghai Auto Show in April, the carmaker will premiere the first series production model of a new Audi brand to be launched this year, and showcase three VW models coming out in 2026. In Europe, orders for Volkswagen vehicles, both electric and combustion engine, rose 29% in Western Europe compared to last year. Battery-electric vehicle sales on the continent have risen substantially this year so far even as total car sales have fallen, data from the European Automobile Manufacturers' Association has shown, as new EU emissions targets and the launch of new models drive demand after years of slow growth. Sales in the U.S. grew 6.2%, in a possible sign of customers frontloading purchases ahead of the implementation of 25% tariffs on car imports. Around two-thirds of the VW brand's sales are composed of cars made in Mexico, and all its Porsche, Audi, and Lamborghini vehicles are imported from Europe, leaving it highly exposed to the brewing trade war. (Reporting by Victoria Waldersee, Amir Orusov; Editing by Jamie Freed, Matthias Williams and Louise Heavens) View Comments |
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| 08.04.25 22:04:47 | Volkswagen's Europe EV sales more than double in first quarter | |
| BERLIN (Reuters) - The Volkswagen Group more than doubled its deliveries of battery-electric cars in Europe in the first quarter to over 150,000 from 74,400 in the same period last year, the carmaker said on Wednesday, in another sign that EV demand is picking up. Orders for Volkswagen vehicles, both electric and combustion engine, rose 29% in Western Europe compared to last year, Volkswagen said, confirming numbers published by German newspaper Bild. The automaker is due to report comprehensive data on its unit sales later on Wednesday. Battery-electric vehicle sales in Europe have risen substantially this year so far even as total car sales have fallen, data from the European Automobile Manufacturers' Association has shown, as new EU emissions targets and the launch of new models drive demand after years of slow growth. (Reporting by Victoria Waldersee; Editing by Jamie Freed) |
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| 03.04.25 15:32:16 | VW to build Amarok for South American market in Argentina from 2027 | |
| BERLIN (Reuters) - Volkswagen is launching a new version of its Amarok mid-size pick-up truck targeted at the South American market from 2027, the carmaker said on Thursday, in the latest example of auto industry players localising production. VW is investing $580 million to refit its Pacheco plant in the province of Buenos Aires, which has produced an older version of the Amarok since 2010, towards producing the new design, it said. "The new Amarok will be developed, designed and produced in South America, for South America. This means that it will be perfectly aligned with the specific needs of our customers in this market," VW brand chief Thomas Schaefer said in a statement. The carmaker will continue to produce the second generation Amarok alongside the Ford Ranger in Silverton, South Africa. (Reporting by Victoria Waldersee; Editing by Riham Alkousaa) View Comments |
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