The Volkswagen Group with its headquarters in Wolfsburg (Germany) is one of the world's leading automobile manufacturers and the largest carmaker in Europe. In 2012, the Group increased the number of vehicles delivered to customers to 9.276 million (2011: 8.265 million), corresponding to a 12.8... More
Tuesday, Nov 192:49 AMEuropean car sales continue recovery
Tuesday, Nov 192:49 AM| 1 Comment
- European car sales rose for a second month in a row in October, climbing 4.6% on year to 1.04M registrations after a 5.5% gain in September.
- However, registrations fell 3.1% in January-October, strengthening the likelihood that the market will fall for a sixth consecutive year in 2013.
- The Spanish car market jumped 34.4%, while most other markets grew moderately, although Italy fell 5.6%.
- Toyota (TM) +16.5%, Renault (RNSDF) +14%, Volkswagen (VLKAF) +5.7%, General Motors (GM) +6.2%, Daimler's (DDAIF) Mercedes-Benz +8.5%, and BMW (BAMXF) +0.3%.
- However, Fiat (FIATY) -7.3%, Honda (HMC) -6.4%, Peugeot (PEUGF) -0.7% and Ford (F) -0.2%. (PR)
Monday, Nov 183:17 PMVolkswagen to recall 82K Tiguans and Jetta Hybrids|Monday, Nov 183:17 PM| Comment!
Wednesday, Oct 304:35 AMVW's operating profit rises 20%
Wednesday, Oct 304:35 AM| Comment!
- Volkswagen's (VLKAF) Q3 operating profit rose to an in-line €2.78B ($3.83B) from $2.32B a year earlier, with record sales of premium brands Audi and Porsche helping to outweigh the costs of an engineering restructuring.
- Revenues slipped to €47B from €48.8B.
- Reiterates FY forecasts that it expects to match 2012's operating profit of €11.5B, and to generate record sales and volumes. (PR)
Wednesday, Oct 163:50 AMEuropean car sales return to growth
Wednesday, Oct 163:50 AM| 1 Comment
- European new-car sales increased at the fastest rate in over two years in September, climbing 5.5% on year to 1.19M vehicles after dropping 4.9% in August.
- In January-September, sales fell 3.9% to 9.34M cars.
- Last month's figures were boosted by the end of the eurozone recession, price cutting, and a Spanish government-incentive scheme that helped demand jump 29%.
- "Car sales in the EU are showing signs of improvement, indicating that the worst is behind us," says Ernst & Young's Peter Fuss. "The sales, however, continue to be artificially boosted by huge discounts and self-registrations by dealers.
- Registrations in the U.K. rose 12% and 3.4% in France, but dropped 1.2% in Germany and 2.9% in Italy.
- GM's (GM) sales +5.4%, Ford (F) +5%. (PR)
- Related tickers: PEUGF.PK, HMC, FIATY.PK, TM, VLKAF.PK, BAMXF.PK, DDAIF.PK, RNSDF.PK.
Tuesday, Sep 174:30 AMEuropean car sales fall back again
Tuesday, Sep 174:30 AM| 1 Comment
- European car sales dropped 4.9% on year in August to 686,957 units after rising 4.9% in July as new registrations fell in France, Italy and Germany last month. However, the U.K. again continued to enjoy growth, with volumes increasing 10%.
- In January-August, European sales dropped 5.2%.
- Peugeot (PEUGF.PK) had a particularly bad August as sales slumped 18%, with Honda (HMC) -19.6%, Fiat (FIATY.PK) -4.9%, Toyota (TM) -4%, Volkswagen (VLKAF.PK) -11%, Audi -6.4% and Ford (F) -0.9%,
- BMW (BAMXF.PK) +9.9%, Daimler (DDAIF.PK) +5.5%, Renault (RNSDF.PK) +5.8% and GM (GM) +0.7%.
- The data comes after car executives had expressed hope at the Frankfurt Motor Show that the European car market was stabilizing. (PR)
Tuesday, Sep 104:24 AMEuropean car market stops skidding
Tuesday, Sep 104:24 AM| 6 Comments
- The auto market in Europe is stabilizing after five years of steep declines, car executives have said, but they expect the recovery to be long and slow due to high unemployment and soft bank lending in the region.
- Europe should "see the end of the tunnel next year," said Renault (RNSDF.PK) chief Carlos Ghosn, who was speaking at the Frankfurt Motor Show.
- Meanwhile, Volkswagen (VLKAF.PK) aims to increase car sales to 9.5M this year from 9.3M in 2012, helping to boost shares 2.1% in Frankfurt. Brand sales dropped 1% in August to 461,600 cars, giving a year-to-date figure of 3.84M. That up 3.1% from last year.
- Auto Tickers: F, GM, TM, HMC, CARZ, FIATY.PK, PEUGF.PK, BAMXF.PK, DDAIF.PK HYMLF.PK, NSANF.PK
Wednesday, Jul 313:24 AMVW H1 profit drops sharply
Wednesday, Jul 313:24 AM| Comment!
- Volkswagen (VLKAF.PK): H1 pretax profit €6.6B vs €10.1B a year earlier.
- Operating profit €5.8B vs €6.5B.
- Revenues +3.5% to €98.7B.
- Deliveries +5.4% to 4.8M vehicles, continued strong growth in China.
- Reaffirms guidance for flat FY operating profit of €11.5B. (PR)
Tuesday, Jun 183:06 AMThe EU new-car market showed no signs of bottoming out in May as registrations dropped 5.9% to 1.04M units, the lowest level for the month since 1993. The fall followed a 1.7% gain in April. In January-May, registrations slid 6.8% to 5.07M vehicles. GM (GM) was among those to suffer the most in May with an 11.3% decline. Toyota registrations dropped 4.9% but those of Ford fell just 0.3%. (PR) |Tuesday, Jun 183:06 AM| 1 Comment
Friday, Jun 145:03 AMVolkswagen (VLKAY.PK) reports May sales +6.9% y/y to 816,500 vehicles. Sales YTD +5.9% to 3.87M. "Audi, Volkswagen Passenger Cars and Porsche as well as SEAT maintained delivery levels in spite of continuing difficult market conditions. Meanwhile, developments on markets worldwide remain uneven and are characterized by continuing economic uncertainty, above all in Western Europe. In contrast, the sales situation in China remains encouraging." (PR) |Friday, Jun 145:03 AM| Comment!
Wednesday, Mar 62:11 PMBallard Power Systems (BLDP +71.3%) signs a four-year engineering services contract with Volkswagen (VLKAY.PK, VLKAF.PK) to develop fuel cells for use in powering demonstration cars in VW's fuel cell automotive research program. BLDP says the expected contract value is C$60M-C$100M. |Wednesday, Mar 62:11 PM| 3 Comments
Thursday, Feb 143:48 AMToyota (TM) sweeps J.D. Power's 2013 vehicle dependability study, with its Lexus brand snagging top spot, followed by GM (GM), Honda (HMC), Mazda (MZDAY.PK, MZDAF.PK) and Ford (F). Volkswagen (VLKAY.PK, VLKAF.PK) did not fare well, with 174 reported problems per 100 vehicles. |Thursday, Feb 143:48 AM| 5 Comments
Monday, Feb 116:18 AMVolkswagen (VLKAF.PK) is leaving its rivals in the dust in what's seen as the Holy Grail of the auto industry: the "global car." VW is investing $70B in its MQB "mega-platform" whereby it is taking a fundamental concept and implementing it across vehicles ranging from Skoda to Audi, Porsche and Lamborghini. One drawback, though, is that because VW vehicles share multiple parts, one recall could affect millions of cars. |Monday, Feb 116:18 AM| Comment!
Wednesday, Jan 165:06 AMEuropean new-car registrations slumped 16.3% Y/Y to 799,407 vehicles in December, the sharpest decline since October 2010, as high unemployment and an unwillingness by banks to finance consumer purchases took their toll. For 2012, EU sales -8.2% to 12.05M, the steepest annual drop since 1993. GM (GM) and Ford (F) sales in Europe cratered 27% each in December, although Korean brands Hyundai and Kia, with their affordable cars and long warranties, climbed 10.5% and 6.8% respectively. |Wednesday, Jan 165:06 AM| 6 Comments
Friday, Nov 232012, 6:38 AMVolkswagen (VLKAF.PK) plans to invest €50.2B ($64.7B) in its automotive business from 2013-2015 despite the difficult economic conditions around the world. VW will spend €39.2B on property, plant and equipment, of which 60% will be in Germany, where GM is slashing production and costs. Aside from the €50.2B, VW's Chinese joint ventures will invest €9.8B in new production facilities and products. (PR) |Friday, Nov 232012, 6:38 AM| Comment!
Friday, Nov 232012, 5:59 AMJapanese car makers intend to continue expanding in China as sales appear to recover from a sharp slump this autumn due to the islands dispute between Japan and China. Toyota (TM), for example, intends to introduce 20 new models in China in the next three years. Meanwhile, Volkswagen (VLKAF.PK) plans to invest €14B in the country over the next four years. |Friday, Nov 232012, 5:59 AM| Comment!
Tuesday, Oct 162012, 4:45 AMRBS (RBS) will be given permission this week to leave the Asset Protection Scheme, a state-backed insurance program covering the bank's old "toxic assets," the FT reports. Exiting the scheme, which has cost RBS £2.5B in premiums, is seen as a first step towards the government selling its 82% stake in the bank. Meanwhile, RBS has suspended Jezri Mohideen, its head of rates trading in Europe and Asia Pacific, over the Libor scandal. Mohideen is the most senior employee to be put on leave so far. |Tuesday, Oct 162012, 4:45 AM| Comment!