Volkswagen AG Unsponsored ADR (VWAGY)
Volkswagen's investments chief to step down from Northvolt board, DI reports
Volkswagen's investments chief Sven Fuhrmann is set to step down from the board of Sweden's Northvolt, Swedish daily Dagens Industri (DI) reported on Monday, citing the Nordic country's company registry.
Volkswagen to recall over 114,000 US vehicles over airbag concern, NHTSA says
Volkswagen will recall 114,478 vehicles in the United States on concerns over the driver-side airbag, the National Highway Traffic Safety Administration said on Thursday.
VW workers at Osnabrueck plant hold fresh warning strike
Workers at Volkswagen's Osnabrueck plant, considered a possible target for closure under the German automaker's restructuring plans, are holding fresh warning strikes on Wednesday as part of regional protests over pay, the IG Metall union said.
VW cost cutting necessary after 'decades of structural problems', CEO tells paper
Volkswagen's planned cost-cutting programme was unavoidable in order to remedy "decades of structural problems" at the German carmaker, CEO Oliver Blume said in an interview published on Sunday.
Volkswagen calls for 10% pay cuts
Volkswagen wants its workforce to take pay cuts of 10% in order to remain competitive and safeguard jobs, the company said in a statement on Thursday.
VW proposes 10% pay cut to tackle crisis
Volkswagen has proposed to cut wages at its brand by 10% to tackle weak demand and high costs, the division's personnel chief Arne Meiswinkel told journalists after the second round of talks with unions.
Volkswagen AG (VWAGY) Q3 2024 Earnings Call Transcript
Volkswagen AG (OTCPK:VWAGY) Q3 2024 Earnings Conference Call October 30, 2024 4:00 AM ET Company Participants Pietro Zollino - Head of Corporate Communications & Deputy Head of Group Communications Rolf Woller - Head of Group Treasury & Investor Relations Arno Antlitz - CFO and COO Conference Call Participants Jose Asumendi - JPMorgan Patrick Hummel - UBS Tim Rokossa - Deutsche Bank Horst Schneider - Bank of America Securities Henning Cosman - Barclays Tom Narayan - RBC Capital Markets Stephen Reitman - Bernstein Michael Tyndall - HSBC Daniel Schwarz - Stifel Michael Punzet - DZ Bank George Galliers - Goldman Sachs Operator Ladies and gentlemen, welcome to the Volkswagen AG Investor Analyst and Media Call 9 Months 2024. I am George, the Chorus Call operator.
Volkswagen: Why The Decline(s) Do Not Bother Me
Volkswagen's current undervaluation presents a significant upside, with potential returns of over 20% annually, driven by improved KPIs and strategic adjustments. Despite challenges, VW's fundamentals remain strong, with a BBB+ rating, low long-term debt, and a well-covered dividend, making it a solid investment. The company is transitioning in 2024, focusing on balancing ICE and EV investments, cutting capacity, and expanding in North America for future growth.
Volkswagen CFO says 64% drop in profits shows ‘urgent need' for cost cuts
The German car maker reported a sharp 12% drop in its sales in China as it said it profits were hit by higher fixed costs and €2.2 billion worth of restructuring expenses
Volkswagen profits tumble as management calls for 'urgent' restructuring
Volkswagen Group (XETRA:VOW) underlined the depth of its current crisis with a two-third drop in profits and a warning that it needs significant job cuts and closures to turn its fortunes around. Just two days after unions warned that the German car giant planned to cut three plants and sack thousands of workers, VW said net profit dropped 64% to €1.57 billion in its September quarter while revenue fell 0.5% to €78.5 billion.
VW Profit Margin Shrinks to Lowest Since Pandemic
Volkswagen's operating margin shrank to the lowest since the Covid-19 pandemic forced the carmaker to idle production and shutter showrooms. Bloomberg's Oliver Crook reports.
Volkswagen reports third-quarter profit slump as major overhaul looms
Volkswagen on Wednesday said its third-quarter operating profit plunged 42% as weak performance in the core passenger car unit and high costs, including for model revamps, hit the automaker.
