Wed, Nov. 30, 4:18 AM
- U.S. District Judge Charles Breyer has delayed today's court hearing on Volkswagen's (OTCPK:VLKAY) plan to address 80,000 polluting Audi (OTCPK:AUDVF), Porsche (OTCPK:POAHF) and VW 3.0-liter vehicles.
- Negotiations are continuing between the German automaker, regulators and lawyers, he said, setting a Dec. 16 hearing after being advised that a delay "may produce a resolution of the outstanding issues."
Tue, Nov. 29, 4:56 PM
- South Korea’s government says it plans to ban sales of some cars made by Nissan (OTCPK:NSANY), BMW (OTCPK:BMWYY) and Porsche (OTCPK:POAHF) after it found the companies manipulated documents to make their vehicles road worthy.
- The government plans to levy a combined 6.5B won ($5.6M) in fines on the three automakers, which it says submitted documents that already had been used for similar models when they were applying for sales approval for some of their cars.
- The government had widened its probe of certifications to more than a dozen foreign automakers after banning the sale of nearly all Volkswagen cars in the country.
Thu, Sep. 29, 6:16 AM
- The future is electric at the Paris Motor Show, as the world's biggest automakers unveil plans to accelerate development of EVs.
- About two dozen new electric models are set to debut and there will be announcements by VW (OTCPK:VLKAY), Porsche (OTCPK:POAHY) and Daimler (OTCPK:DDAIY) that demonstrate how Tesla's achievements are spurring conventional carmakers to respond.
- Also on the radar: Supercars, SUVs and future tech.
Oct. 18, 2015, 9:03 AM
- More fallout from the emissions-rigging scandal: Former Volkswagen (OTCQX:VLKAY) chief executive Martin Winterkorn is stepping down as the head of Porsche Automobil (OTCPK:POAHY), the family-owned holding company that controls a majority stake in Volkswagen.
- Hans Dieter Pötsch, Porsche's finance chief and the chairman of Volkswagen's supervisory board, will succeed Winterkorn as CEO on Nov. 1.
- The news comes as the carmaker weighs whether to reduce its number of temporary workers to help offset costs and follows a recent announcement to cut $1.1B from its annual investment budget.
- Previously: Volkswagen walks a delicate tightrope (Oct. 17 2015)
May 13, 2015, 4:44 AM
- Ferdinand Piech may have been banished from Volkswagen (OTCQX:VLKAY) last month, but that doesn't mean he won't be able to stir up tension at the automaker once again.
- Shareholders of Porsche (OTCPK:POAHY), the family company that controls a majority in Volkswagen, will conduct their annual meeting today, with Piech remaining as a member of the supervisory board.
- In the past, Piech has threatened to sell his stake in the holding company, which could open it up to outside investors. The move would make an uproar not only at Porsche but also at Volkswagen.
Nov. 22, 2014, 1:51 PM
- SGL Group (OTCPK:SGLFF), who supplies carbon fibre reinforced parts for BMW's (OTCPK:BAMXY) electric cars, is in talks with several other carmakers to supply carbon fibre, CEO Juergen Koehler tells Wirtschaftswoche.
- "VW (OTCPK:VLKAF), in particular through Audi (OTCPK:AUDVF) and Lamborghini are also banking on high-volume use of carbon components. General Motors (NYSE:GM) has also hinted recently that they want to use more carbon. Porsche (OTCPK:POAHF) is also very active," he said, adding that new contracts would not be as big as the BMW venture.
- BMW's i-series, which cost it billions to develop, has had weak sales. BMW had sold less than 11,000 i3s by the end of September.
- SGL's main business is making graphite electrodes used to recycle scrap metal into steel. Its carbon fibre business accounted for just 2% of sales last year.
- SGL has already cut 1,400 of its 6,000 workforce.
Nov. 23, 2013, 11:45 AM
- The L.A. Auto Show hit full stride with global automakers tipping off plans to ramp up production and designs to take advantage of the North American demand boom.
- Honda (HMC), Toyota (TM), and Hyundai (HYMLF) pounded home the commitment they will make to hydrogen fuel cells. This is no flux capacitor chatter. All three plan to invest to have fuel cell models on the U.S. market within two years, although details on charging station infrastructure are sketchy.
- General Motors (GM) was the talk of the town as the Chevy Colorado truck impressed analysts mightily and looks set to give challengers from Nissan and Toyota a run for their money.
- BMW (BAMXY), Porsche (VLKAY, POAHF), and Mercedes-Benz (DDAIF) all have big plans for the luxury market, while Kia enters the segment as a darkhorse with the K900. Kia?
- On the zero-emission front, Honda was full of swagger by landing a major green award for the new hybrid Honda Accord on gaudy fuel economy ratings.
- Automakers to watch: Subaru (FUJHY) and Chrysler (FIATY) look well-positioned for 2014 market share gains. Tesla (TSLA) CEO Elon Musk is off monitoring his latest Space X rocket, while the Tesla debate gets even livelier on SA.
Jul. 2, 2013, 1:11 PMPorsche (POAHF.PK) June U.S. sales: +23% to 3,700 vehicles to mark its best June ever in the U.S. Sales gains were led by Cayenne and the Boxster which offset lower sales of the 911 and Panamera. | Jul. 2, 2013, 1:11 PM
Jul. 5, 2012, 2:53 AMVolkswagen agrees to buy the 50.1% stake in Porsche it doesn't already own for €4.46B ($5.6B), ending a seven-year takeover saga. | Jul. 5, 2012, 2:53 AM
Aug. 12, 2011, 7:05 AM
Mar. 28, 2011, 7:45 AM
Feb. 24, 2011, 8:47 AM
Prosecutors are expanding their investigation of Porsche's (POAHF.PK) former top execs, a development that could delay or even jeopardize the firm's planned merger with Volkswagen (VLKAY.PK). The execs allegedly took on risks that threatened the company's survival in a takeover battle with Volkswagen.| Feb. 24, 2011, 8:47 AM
Jan. 3, 2011, 7:31 AM
Dec. 31, 2010, 7:24 AM
Dec. 27, 2010, 3:28 PMGerman automakers are the big losers today after China sharply limits the number of vehicle licenses it issues for Beijing. The ostensible reason is to reduce congestion and pollution, but car imports from the eurozone will bear the burden. BMW (BAMXY.PK -5.4%). Porsche (POAHF.PK -5.3%). Volkswagon (VLKAY.PK -5.27%). Daimler (DAI -6.21%). | Dec. 27, 2010, 3:28 PM
Oct. 30, 2010, 4:48 PM
The odds against a merger between Porsche (POAHF.PK) and Volkswagen (VLKAY.PK) are rising. Potential legal and tax liabilities have grown recently, prompting Martin Winterkorn, CEO of both companies, to say there's now a 30% chance investors holding preferred shares in Porsche won't be able to swap their stock for equity in Volkswagen.| Oct. 30, 2010, 4:48 PM