Volkswagen is considering an audacious reverse-takeover bid for its majority shareholder, Porsche, in a twist in the drawn-out struggle for control between the two German carmakers.
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Porsche denied on Thursday reports that its main shareholders planned to sell the group's sports car business to its Volkswagen unit as a way to relieve Porsche's debt burden. "This is nonsense," said spokesman Anton Hunger.
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Porsche denied on Thursday reports that its main shareholders planned to sell the group's sports car business to its Volkswagen unit as a way to relieve Porsche's debt burden. "This is nonsense," said spokesman Anton Hunger.
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While Volkswagen chief executive Martin Winterkorn praised cooperation with majority owner Porsche at the annual shareholders meeting today, media reports in Germany suggested VW was considering a takeover of Porsche.
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Audi has decided to make its new Q3 small SUV in Barcelona, Spain, and has postponed any decision on making cars in the US where parent Volkswagen is building a new plant in Tennessee.
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Volkswagen CEO Martin Winterkorn said on Thursday he expected a group profit in 2009 despite a car market slump. Winterkorn also praised VW's cooperation with Porsche, which holds 51 percent of VW.
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Toyota Motor Corp said on Thursday its group-wide sales fell 27 percent to 1.767 million vehicles in the first quarter of 2009, keeping it ahead of Volkswagen group as the world's top-selling carmaker.
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Toyota Motor Corp said on Thursday its group-wide sales fell 27 percent to 1.767 million vehicles in the first quarter of 2009, keeping it ahead of Volkswagen group as the world's top-selling carmaker.
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Volkswagen said on Wednesday it would build its 'New Small Family' car line in Slovakia, making a EUR308m investment in the Bratislava plant.
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The sale of the Brazilian commercial vehicle business for about EUR600m to MAN helped the Volkswagen Group post an operating profit for the first quarter of 2009 of EUR312m, down 76% from EUR1,311m a year ago.
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Volkswagen has recently introduced the fuel-efficient BlueMotion sub-brand in Brazil with the Polo but with one crucial difference: the South American car has a petrol/ethanol engine rather than the diesel used in Europe.
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Volkswagen said on Wednesday it will build its new minicar range in Slovakia. VW said the first cars from its New Small Family will roll off the production line in Bratislava at the beginning of 2011 for delivery to global customers.
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Volkswagen's premium brand Audi has, for now, decided not to make cars in the United States, choosing Spain instead of the U.S. as the site to manufacture its new Q3 compact sport utility vehicle.
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Volkswagen's premium brand Audi has, for now, decided not to make cars in the United States, choosing Spain instead of the U.S. as the site to manufacture its new Q3 compact sport utility vehicle.
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Volkswagen swung to first-quarter operating loss when excluding a one-off disposal gain but preserved cash as Europe's largest carmaker staved off the worst of a crisis in the automotive industry.
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Volkswagen posted a 76 percent drop in first-quarter operating profit on Wednesday, but automotive net liquidity rose 34 percent compared with the end of last year, as the group slashed investments.
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On April 20th 2009, the opening day of the Auto Shanghai 2009, Volkswagen along with its two joint ventures Shanghai Volkswagen and FAW-Volkswagen, unveiled a new locally produced car, the Passat New Lingyu, in a large booth illustrating the essence of Volkswagen's brand claim "Das Auto".
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Porsche and Volkswagen denied a report in a Munich newspaper that Wendelin Wiedeking would be sacked as chief executive of VW's majority owner, Porsche.
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Porsche and Volkswagen denied a report in a German newspaper that Wendelin Wiedeking would be sacked as CEO of VW's majority owner, Porsche.
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Veteran Volkswagen group executive Reinhard Fleger will head sales operations at Skoda, VW'S Czech subsidiary, starting June 1. Fleger, 51, currently is board member for sales and finance at Volkswagen's Mexican unit.
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