Rating agency Moody's has cut its outlook on Volkswagen to "negative" from "stable", citing a deteriorating operating performance at Europe's top carmaker and expected challenges to turn the situation around.
Volkswagen Group reported a 7% decline in third-quarter global deliveries on Friday, showing the extent of challenges faced by the European auto sector.
Volkswagen brand aims to win back market share with eight new affordable electric models to be rolled out by 2027, brand head Thomas Schaefer told the publication auto motor und sport on Wednesday.
The EU will press ahead with tariffs on China-made electric vehicles, even after Germany and its carmakers rejected them.
Key Points: China's EV Dominance: Chinese EV companies are pushing Volkswagen out of the market, adding to their global struggles.
Key Points: Volkswagen's First Plant Closures in Germany: A historic move causing significant concern.
Germany's largest automaker, Volkswagen, has voiced its opposition to proposed tariffs on Chinese electric vehicles (EVs). A company spokesperson stated that the tariffs are a misguided approach and called for Germany to vote against the European Union's plan to implement them.
Volkswagen on Wednesday urged Germany to vote against the introduction of European Union tariffs on Chinese electric vehicles, arguing that the tariffs do not improve the competitiveness of the auto industry.
Key Points: China's EV Dominance: Chinese EV companies are pushing Volkswagen out of the market, adding to their global struggles.
Volkswagen's luxury division Audi has so far not found a potential suitor for its plant in Brussels that was put under review in July, saying none of the 26 potential buyers it held talks with was prepared to take on the roughly 3,000 staff.
The criminal trial of former Volkswagen Chief Executive Martin Winterkorn over the so-called dieselgate scandal has been suspended due to his poor health, a court in Braunschweig said on Tuesday.
Volkswagen's truck unit Traton set out five-year targets during its Capital Markets Day on Tuesday, as it expects to benefit from the shift towards electrification and plans to raise the share of battery electric vehicles in its sales.