Volkswagen AG ADR (VLKAY) - OTCPK - Current
  • Today, 2:41 PM
    • There's almost no chance that the automobile industry won't be a major talking point during the U.S. presidential election campaign which adds a layer of uncertainty for investors in the sector.
    • While the ramifications of the Trans-Pacific Partnership and Donald Trump's plan to add tariffs on foreign car makers and auto parts suppliers are already being debated, it's the union workers who may be the target of the most discussion in the next few months with Michigan, Ohio, and Pennsylvania considered critical battleground stocks.
    • The United Auto Workers endorsed Hillary Clinton and expects her to renegotiate the North American Free Trade Agreement to help land stronger unions in Mexico, while Trump has taken a more populist route of promising to add tariffs on Ford for cars built in Mexico. He's also hammering home that he will force better trade deals, but is walking a tightrope with some Rust Belt voters after suggesting that local plants should be closed and moved to states with lower wages.
    • Most analysts think it's more likely that the $7,500 electric vehicle tax credit will expire if Trump wins the election than if Clinton ascends to the White House. The EPA and some its regulations are also sure to get a hard look.
    • Investors are looking for a breakout after the dust settles, with the Detroit Three all trailing the S&P 500 Index return for the year.
    | Today, 2:41 PM | 6 Comments
  • Today, 9:28 AM
    • Porsche (OTCPK:VLKAY) says it will create 1,400 jobs to help develop and produce its new all-electric sports car.
    • The company plans to search globally for digitalisation, e-mobility, smart mobility, and vehicle connectivity experts.
    • Porsche's Mission E model is seen as an eventual rival to Tesla's Model S.
    | Today, 9:28 AM
  • Fri, Jul. 22, 7:30 AM
    • Volkswagen (OTCPK:VLKAY) will suspend sales in South Korea after July 25 due to pressure over the emissions cheating scandal.
    • The decision to stop selling 70 models in the nation comes in front of a detailed government review of the emissions issue set for later this month.
    • Volkswagen sales in South Korea are down 32% YTD.
    | Fri, Jul. 22, 7:30 AM
  • Wed, Jul. 20, 6:35 AM
    • Volkswagen's (OTCPK:VLKAY) operating profit came to €7.5B in the first half of 2016, beating market expectations and pushing its shares higher.
    • Adjusted for one-off costs of €2.2B, operating profit came to €5.3B.
    • VW got another wave of heat yesterday after getting sued by New York state's attorney general, who claimed CEO Matthias Muller was told about the automaker's diesel emissions issue in 2006.
    | Wed, Jul. 20, 6:35 AM
  • Tue, Jul. 19, 7:24 AM
    • The European Commission fined a group of truck makers €2.93B ($3.24B) for colluding on truck prices for over 14 years.
    • The companies which admitted to the charges include Daimler (OTCPK:DDAIF), Volvo/Renault (OTCPK:VOLVY, OTC:RNSDF, OTCPK:RNLSY), MAN (OTCPK:VLKAY), Iveco (NYSE:CNHI), and DAF (NASDAQ:PCAR). MAN wasn't fined because it came forward to alert the EC of the cartel.
    • "For 14 years they colluded on the pricing and on passing on the costs for meeting environmental standards to customers. This is also a clear message to companies that cartels are not accepted," said Commissioner Margrethe Vestager.
    • European Commission press release
    | Tue, Jul. 19, 7:24 AM | 5 Comments
  • Mon, Jul. 18, 6:26 PM
    • Volkswagen (OTCPK:VLKAF, OTCPK:VLKAY) is seeking a settlement with Canadian diesel vehicle owners similar to the deal reached in the U.S., according to a report in the German newspaper Handelsblatt.
    • Volkswagen last month agreed to pay as much as $15.3B after admitting it cheated on U.S. diesel emissions tests for years; VW would be on the hook for up to $2B if it reached a similar settlement in Canada, Handelsblatt says, without discussing the source of the information.
    • Separately, Reuters reports that Maryland, Massachusetts and New York expect to unveil new lawsuits against Volkswagen related to software that allowed pollution emissions of up to 40x legally allowable limits.
    | Mon, Jul. 18, 6:26 PM
  • Mon, Jul. 18, 7:36 AM
    • Volkswagen (OTCPK:VLKAY) plans to introduce a new wagon and SUV in the U.S. during the early part of 2017.
    • Though dealers in the U.S. welcome the fresh introductions to the VW lineup, they are also still waiting for the company to receive approval on a fix for the diesel cars currently sidelined due to the emissions cheating scandal.
    • Last week, regulators in California rejected Volkswagen's proposal.
    | Mon, Jul. 18, 7:36 AM | 1 Comment
  • Mon, Jul. 18, 3:18 AM
    • Volkswagen (OTCPK:VLKAY) executives in the U.S. have pledged to compensate 650 American franchise dealers who have been dented by the carmaker's emissions crisis.
    • The decision, which came at a meeting at a meeting on Friday, marked the first time VW acknowledged that dealers would get retribution for the economic damage they suffered from the scandal.
    | Mon, Jul. 18, 3:18 AM | 1 Comment
  • Fri, Jul. 15, 7:24 AM
    • Volkswagen (OTCPK:VLKAY) car registrations +1.0% to 349,180 units in June, according to the European Automobile Manufacturers Association.
    • Overall EU registrations +6.9% Y/Y to 1,459,508 units in June, led by double-digit gains in Italy and Spain. Registrations were up 8% in Germany, while falling slightly in the U.K.
    • Volkswagen market share: 23.2% vs. 24.4% a year ago.
    • Volkswagen YTD registrations +4.2%.
    • Results include the Volkswagen, Audi, Skoda, Seat, and Porsche brands.
    • EAMA release (.pdf)
    | Fri, Jul. 15, 7:24 AM
  • Fri, Jul. 15, 3:29 AM
    • Britain should consider prosecuting Volkswagen (OTCPK:VLKAY) over its diesel emissions scandal, a committee of lawmakers said Friday, accusing the government of being too slow to decide whether the automaker broke the law.
    • In Britain, 1.2M cars were fitted with defeat devices, but in April a U.K. transport minister said VW had yet to fix any cars, contradicting the company which said it had begun making some software modifications.
    | Fri, Jul. 15, 3:29 AM | 4 Comments
  • Thu, Jul. 14, 2:15 AM
    • California regulators have again rejected Volkswagen's (OTCPK:VLKAY) plan to fix diesel vehicles that were programmed to cheat on air pollution tests, saying the idea was "incomplete" and "substantially deficient."
    • The proposal would have covered about 16,000 3.0 liter diesel cars for model years 2009 to 2016. About 85,000 VW 3-liter diesel vehicles that cheat on emissions are on roadways nationwide.
    | Thu, Jul. 14, 2:15 AM | 7 Comments
  • Wed, Jul. 13, 8:15 AM
    • Volkswagen (OTCPK:VLKAY) plans to use a new Porsche plant in Stuttgart to build V-8 engines for the Bentley and Audi brands, according to Automobile News.
    • Execs says the Porsche plant is set up to add synergies across Volkswagen.
    • Porsche's fourth generation V-8 engine is more powerful than its predecessors.
    | Wed, Jul. 13, 8:15 AM
  • Mon, Jul. 11, 8:49 AM
    • Government authorities in South Korea gave the boot to 60% of the Volkswagen (OTCPK:VLKAY) cars in the nation due to their association to the emissions cheating scandal, according to the Korea Herald. The action of canceling sales and registrations is based off a list from the Seoul Central District Prosecutors’ Office.
    • There is some talk in the nation that the Ministry of Environment may be positioning itself to kick Volkswagen out of the nation permanently.
    • A total of about 250K Volkswagen cars have been sold in South Korea since 2007.
    | Mon, Jul. 11, 8:49 AM | 4 Comments
  • Fri, Jul. 8, 4:56 AM
    • Volkswagen (OTCPK:VLKAY) has to pay $86M in civil penalties as part of an agreement with the state of California.
    • The arrangement is part of the broad $14.7B settlement the German automaker made in the U.S. in the emissions cheating case.
    • California will use part of the funds for R&D into emissions testing capabilities.
    | Fri, Jul. 8, 4:56 AM | 1 Comment
  • Thu, Jul. 7, 9:46 PM
    • High-ranking Communist Party officials in China are exerting more influence on the daily operations of state-owned companies.
    • The tighter grip comes at the direction of President Xi Jinping who calls state-owned enterprises a major force to protect the common interests of the people.
    • In a sign of the increased intervention, several Chinese state-owned companies that partner with major automakers such as Volkswagen (OTCPK:VLKAY), Toyota (NYSE:TM), and General Motors (NYSE:GM) have changed their articles of incorporation to protect the goals of the Communist Party.
    | Thu, Jul. 7, 9:46 PM | 17 Comments
  • Wed, Jul. 6, 9:28 AM
    • It's another shocking breach of trust in the automobile sector after PSA Group (OTCPK:PEUGF, OTC:PUGOF, OTC:PUGOF) confirms that advertised fuel economy ratings on Peugeot and Citroen models don't match up with reality (off by 44% on average). Bloomberg reports that it's the first time a major automaker has confirmed a discrepancy between lab results and actual road tests across a broad range of cars.
    • Official PSA lab results
    • Recent failures in the automobile industry include inflated mileage claims from the South Korean automakers, the Takata disaster which deeply impacted Japanese cars, GM's costly ignition switch recall, and the topper in terms of subterfuge - Volkswagen's emissions cheating saga.
    • Some automobile industry analysts have suggested that buyers are scandal-weary and are unlikely to factor in the reputation hits in their buying decisions.
    | Wed, Jul. 6, 9:28 AM | 75 Comments
Company Description
The Volkswagen Group with its headquarters in Wolfsburg is one of the world's leading automobile manufacturers and the largest carmaker in Europe. In 2014, the Group increased the number of vehicles delivered to customers to 10.14 million (2013: 9.73 million), corresponding to a 12.9 percent... More
Industry: Trucks & Other Vehicles
Country: Germany