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Lamborghini sales up in 2023
The deliveries sped up 9.5 percent to 10,112 vehicles.
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Volkswagen profit up
It delivered some 9.2 million cars to customers in 2023. -
VW’s 2023 operating profit $24.4bn
An increase in sales in North America and Europe lifted the profits. -
Europe new car sales rebound in 2023: industry group
Automakers are facing a 2035 deadline set by the European Union to phase out sales of new combustion engine vehicles. Sales of hybrid cars also soared last year, up by nearly 30 percent. -
CES gadget fest a showcase for AI-infused lifestyle
The annual Consumer Electronics Show gathering boasts more than 3,500 exhibitors and is expecting some 130,000 visitors. Companies big and small hosted previews for the press through Monday, with AI an oft repeated mantra as they pitched products promising better lives. -
Volkswagen to reduce workforce
Volkswagen has some 675,800 employees worldwide. -
BMW Q3 profit drops 7.7%
The company's Q3 net profit stood at $3.1 billion. -
Volkswagen revenue up
The automaker made sales to the tune of US$83.5bn in Q3. -
Volkswagen to test self-driving cars
Commercial launch of self-driving vehicles is planned for 2026. -
Companies dole out US$326.7bn in record dividends in Q1
Dividends across the world spiked 12% in Q1 compared to the same period in 2022, which was already an all-time high, according to the report by asset management firm Janus Henderson. "The dividend growth is all the more impressive considering that 2022 was a difficult year because of high inflation... -
Volkswagen net profit falls
Sales revenue rose 22% from January to March. -
Canada to allot US$9.8bn in subsidies for Volkswagen battery plant
Ottawa, Canada--Canadian Prime Minister Justin Trudeau announced Friday up to 13.2 billion Canadian dollars ($9.8 billion) in subsidies over 10 years for Volkswagen's first overseas battery plant, to be built in St. Thomas, Ontario. The production support matches incentives by US President Joe Biden's administration, as Washington's trading partners work to keep... -
Volkswagen to invest in China
The new venture will be launched in 2024. -
Volkswagen to build new battery plant in Canada
Volkswagen is also setting up a series of battery plants in Europe - one will open in 2023 in Sweden, followed by one in Salzgitter, Germany in 2025 and the company has chosen Valencia, Spain for a third. Volkswagen said last year it planned to open a total of six... -
VW to cut e-car prices
The price drop is seen as a direct response to cuts by Tesla. -
VW 2022 net profit at $16.7bn
Firm booked profit despite supply chain disruptions. -
Volkswagen posts profit
Its operating profit rose by 12.5 percent to $24 billion. -
Toyota stays top automaker
It retained lead over the rival Volkswagen for the third year. -
What 2023 has in store for the GCC auto industry?
A number of other things will also influence the auto industry this year. The most obvious being the expectation of a looming recession and rise in inflation in 2023. Whilst it is understandable this will impact the GCC, the effects won’t be felt here as strongly as in other regions,... -
Volkswagen profits slip by 26 percent in third quarter
Bottomline took a hit from Russia production halt -
VW, Horizon Robotics plan JV
JV will help in strengthening VW's presence in China. -
Porsche, luxury carmaker with storied history
The Porsche-Piech family are the main shareholders of the Volkswagen group, and have roots in Germany's auto industry stretching back decades. An Austrian-born engineer, Ferdinand Porsche was founder of the luxury car brand that bears his name. In addition, he created the Volkswagen Beetle and designed the iconic, open-top Mercedes-Benz... -
Porsche to enter stock market before the end of 2022: VW
The auto giant officially signalled its intention to go ahead with the IPO on February 24, the day that Russia began its invasion of Ukraine. "This is a historic moment for Porsche," new Volkswagen CEO Oliver Blume said, adding that Porsche could have "greater independence" and be one of "the... -
EU car sales down 14 percent in H1 as supply shortages persist
EU auto sales slumped by 14 percent in the first half of this year, data showed Friday, as supply shortages continued to plague manufacturers. With the lack of computer chips still hobbling production, new auto sales slumped to 4.6 million in the European Union, data from the European Automobile Manufacturers... -
Volkswagen posts Q1 profit
The German auto giant said operating profit rose to $9.3bn. -
Audi, Porsche eye entry into F1
The firms aim to burnish their green technologies and ambitions. -
Ukraine war hits VW ops
A 150-strong task force is working feverishly to keep supply flowing. -
Volkswagen sees 2021 profits surge
The carmaker sold 600,000 fewer vehicles in 2021 than in 2020. -
Volkswagen plans 2 bn euro electric car plant in Germany
The announcement of the $2.2 billion investment came on the same day Tesla got the green light from local officials to start production at a new plant near Berlin. -
Toyota is top-selling automaker
The company overcomes chip shortage, supply chain woes. -
Volkswagen and Bosch join forces to rev up automated driving
Car giant Volkswagen and parts supplier Bosch have embarked on an "extensive partnership" to bring automated driving to the mass market by next year, the German companies said on Tuesday. Bosch and VW software subsidiary Cariad are aiming to "make functions available that will allow drivers to temporarily take their... -
Truckmaker Scania pauses production over chip shortage
This week's suspension is Scania's first since the coronavirus pandemic forced a production halt in April 2020 -
Volkswagen to stop sale of combustion engines in EU by 2035
The EU will unveil tougher 2030 CO2 emissions targets and regulatory proposals on July 14 The firm says it will take a little longer in South America and Africa due to the lack of infrastructure, political framework Volkswagen has said it plans to stop producing cars with internal combustion engines...