The Volkswagen Group has said that it had delivered 5% fewer vehicles in the first six months of 2009 over the same period last year. However, the German automaker noted that it outperformed the general marketplace and gained market share.
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Volkswagen group's global vehicle sales fell 5 percent to 3.1 million in the first half, but the company's nine brands, which will soon include Porsche as a 10th marque, boosted market share. By comparison, General Motors Co.'
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Volkswagen group's global vehicle sales fell 5 percent to 3.1 million in the first half, but the company's nine brands, which will soon include Porsche as a 10th marque, boosted market share. By comparison, General Motors Co.'
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Volkswagen group's global vehicle sales fell 5 percent to 3.1 million in the first half, but the company's nine brands, which will soon include Porsche as a 10th marque, boosted market share. By comparison, General Motors Co.'
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The corporate drama that is the Porsche-Volkswagen affair, which yesterday saw the departure of Porsche chief executive officer Wendelin Wiedeking after 16 years with the company and the move to merge the sportscars brand into the VW portfolio, put the stock market to confusion.
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Volkswagen's supervisory board has backed the creation of an integrated automotive group with Porsche under the leadership of VW whose management board will now begin talks with the sportscar maker's new chiefs to jointly draw up final details.
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Volkswagen Chairman Ferdinand Piech tightened his grip over Porsche on Thursday after the sports car maker's CEO was ousted following a power struggle to keep Porsche independent.
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Volkswagen Chairman Ferdinand Piech tightened his grip over Porsche on Thursday after the sports car maker's CEO was ousted following a power struggle to keep Porsche independent.
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As widely speculated, Porsche SE chief executive officer Wendelin Wiedeking has left the sportscar maker after 16 years, the latest twist in a corporate drama which started with Porsche's audacious attempt to buy the mighty Volkswagen AG and is likely to end in a merger of the two after debts spiraled out of control.
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Porsche conceded a months-long power struggle to Volkswagen by axing its CEO Wendelin Wiedeking and finance chief Holger Haerter.
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Porsche conceded a months-long power struggle to Volkswagen by axing its CEO Wendelin Wiedeking and finance chief Holger Haerter.
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Sports car maker Porsche conceded a months-long power struggle to mass-market rival Volkswagen by axing its CEO. Porsche said it would raise at least 5 billion euros ($7 billion) in equity as the two prepared for a merger.
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Sports car maker Porsche conceded a months-long power struggle to mass-market rival Volkswagen by axing its CEO. Porsche said it would raise at least 5 billion euros ($7 billion) in equity as the two prepared for a merger.
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Volkswagen chairman Ferdinand Piech once said of Wendelin Wiedeking that the one thing the CEO of sports car maker Porsche lacked was a real failure. Not any more.
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Volkswagen chairman Ferdinand Piech once said of Wendelin Wiedeking that the one thing the CEO of sports car maker Porsche lacked was a real failure. Not any more.
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Porsche Automobil Holding SE axed its CEO and said it will seek at least 5 billion euros (about $7.1 billion) in fresh funds, setting the stage for a merger of the German sports car maker with mass-market rival Volkswagen AG.
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Porsche conceded a months-long power struggle to Volkswagen by axing its CEO Wendelin Wiedeking and finance chief Holger Haerter.
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Porsche SE is likely to hold back on a decision to merge with Volkswagen AG at its board meeting on Thursday as the holding company's controlling families can't agree on measures to reduce debt, according to people familiar with the situation.
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Volkswagen will start production of a new compact car at its plant in Mexico early next year following a US$1bn investment, according to Otto Lindner, head of the company's operations in the country.
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Volkswagen will begin assembling a new compact car at its plant in Mexico early next year following a $1 billion investment, a senior executive said.
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