Automotive industry company news
Volkswagen's mid-life Update for the Up can be summed up as more poke, more connectivity and more customisation. Simple as that....
While we still do not know the full cost of the diesel emissions scandal to Volkswagen Group (it’s still early days in terms of totting up t...
Volkswagen Group pushed expected liabilities from the diesel scandal into the 2015 accounts, so that it can make a new start with a new boss and a new organisation, writes Ray Hutton. However, 2016 is shaping up to be a challenging year for the company.
Surely it can have come as no surprise that more diesel engines are failing to meet emissions test targets? When the Volkswagen scandal over the so called defeat device broke last year, many in the industry wondered whether this was the tip of an iceberg.
The biggest news this week - announced only around beer o'clock last night, UK time, was Volkswagen AG and the US Justice Department reaching a deal "in principle" to sort out the little problem of excess emissions in nearly 600,000 diesel vehicles sold Over There. On the face of it, with much more detail yet to come, it seems like a sensible agreement - Judge Charles Breyer said the settlement was expected to include a buyback offer for nearly 500,000 two-litre vehicles and a possible fix if 'regulators' - we're talking Environment Protection Agency (EPA) and California Air Resources Board (CARB) here - agree on it. The settlement would include an environmental remediation fund and additional compensation to owners to sell back or have vehicles fixed. The government and Volkswagen have until late June to complete a final "consent decree" and, this is interesting, that will face public comment before taking effect.
I was already aware of Volkswagen's Tiguan, the compact crossover SUV introduced in 2007, not least because two friends own one, along with two near neighbours. But, after being invited to the Berlin media launch of the redesign, I suddenly seemed to see them everywhere. That, said a senior VW GB PR, was not surprising: "It's now our third best seller in the UK after the Golf and Polo."
Harman recently partnered with Renesas to improve its in-vehicle network and infotainment solutions. Matthew Beecham caught-up with Harman’s Phil Eyler, Executive Vice President and President of Infotainment to find out how this alliance and others are supporting the brand in a highly competitive sector. In Part 2, we interview Harman’s EVP and President Lifestyle Audio Division Michael Mauser about the audio innovations it is bringing to the market to sustain growth.
As the auto industry searches for affordable routes to lower emissions, Matthew Beecham spoke to Gavin Houghton, managing director of RKLAB AG to learn more about its timely breakthrough in diesel fuel injector technology.
Audi is aiming to have three electric car models by 2020 and for electric vehicles to account for 25-20% of its sales by 2025, according to a report in a German newspaper.
'Special items' totalling EUR2.2bn on Volkswagen AG's first half 2016 books, due to costs associated with the diesel emissions scandal, would have a "negative effect" on fully year group results for Porsche SE, the Stuttgart-based sports car and luxury SUV maker said, adding its full year, group profit after tax forecast nonetheless remained unchanged.
Volkswagen Group says it has set aside another EUR2.2bn in the first six months of the year in relation to costs arising from its ‘dieselgate’ emissions scandal.
Turbo charging a one-litre, three-cylinder engine is a growing trend here in Brazil.
Volkswagen managers may face calls to return their bonuses if the company is fined by German prosecutors over the profits it made from selling 11m cars fitted with illicit engine software.
South Korea's environment ministry said on Monday it would decide later this month whether to revoke the certification of 32 Volkswagen Group vehicle models after prosecutors accused the carmaker of fabricating documents on emissions and noise level tests.
Volkswagen will pay an additional US$86m in penalties to California over its emissions scandal, on top of a settlement of $14.7 billion the automaker reached with US officials earlier, state attorney general Kamala Harris said.
Porsche aims to keep its profit margin running at a double-digit percentage of sales in the coming years, benefiting from more efficient production while boosting spending on its first all-electric car, chief executive Oliver Blume has said.
German prosecutors are demanding Volkswagen face a fine based on the level of the profits the carmaker made from selling 11m vehicles equipped with manipulated engine software, newspaper Sueddeutsche Zeitung said.
Spain's High Court said Volkswagen's parent company, based in Germany, would be liable to answer any charges over emissions fraud, rather than its Spanish affiliates.
Volkswagen Group and LG Electronics have signed a memorandum of understanding on joint research and development of a "next-generation connected car service platform".
Volkswagen's brand chief, Herbert Diess, is not planning to resign even though he is the subject of investigation by public prosecutors, he reportedly told a German newspaper.
Volkswagen has no plans to compensate South Korean for cheating emissions tests, according to local reports citing the company’s local unit Audi Volkswagen Korea.
A VW lawyer, in a court hearing, has said the company believed it could fix 85,000 three-litre VW, Audi and Porsche diesel vehicles in the US, instead of opting for costly buybacks.
Volkswagen's settlement agreements with various parties in the US have been generally well received by several key consumer advice buying publications in the country but appear unlikely to sit so well with European regulators because no similar deal is on the table this side of the Atlantic.
Volkswagen AG has announced today that it has reached settlement agreements with the United States Department of Justice (DOJ) and the State of California; the U.S. Federal Trade Commission (FTC); and private plaintiffs represented by the Plaintiffs’ Steering Committee (PSC) to resolve civil claims regarding eligible Volkswagen and Audi 2.0L TDI diesel engine vehicles in the US.
European industry commissioner Elzbieta Bienkowska has said VW should pay its German customers similar compensation to US buyers.
Norway's wealth fund has filed a legal complaint against Volkswagen, as part of a joint legal action over the diesel emissions scandal.
A South Korean court has issued the first warrant for the arrest of a Volkswagen executive in connection with its cheating on vehicle emissions tests.
At its annual shareholder meeting, Volkswagen has vowed to shore up its internal systems and processes in order to prevent a repeat of the diesel emissions crisis amid rumbles of discontent from some shareholders.
Former Volkswagen chief Martin Winterkorn is under investigation in Germany for alleged market manipulation. Prosecutors in Germany have accused Winterkorn, and another former board member, of withholding information from investors about VW's emissions scandal.
A German media report says that Volkswagen Group will axe some 40 models from its range as part of its strategy to shift to more electrified cars and save cost.
It's been quite a week for Volkswagen. The unfolding diesel emissions scandal is one of those stories that, as journalists love to say, has legs.
The departure of head designer Luc Donckerwolke from Bentley (replacement found) is an interesting one, not least for the question of where he will pop up next.
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