Morgan Stanley has lowered its rating of the German car manufacturer Volkswagen to "underweight" from "equal weight". The bank also cut its target price to EUR20 from EUR28.
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Morgan Stanley downgraded preferred shares of Germany's Volkswagen to "underweight" from "equal weight," and estimated net liquidity to decline by 16 million euros a day in 2009, resulting in a modest net debt position within 18 months.
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Volkswagen brand engineers want to install components in the Up that would make it too expensive for Skoda and Seat, a VW group engineer told Automotive News Europe.
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Magna International announced plans to build a new factory in Russia. The European arm of Canada's Magna International will build a car parts factory to supply the Volkswagen plant in Kaluga, near Moscow.
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Magna International today announced plans to build a new factory in Russia. The European arm of Canada's Magna International will build a car parts factory to supply the Volkswagen plant in Kaluga, near Moscow.
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The prime minister of Lower Saxony, Christian Wulff, will hold talks tomorrow (18 March) with Toyota Motor president Katsuaki Watanabe to propose a technological tie-up between Volkswagen and Japanese automakers.
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Ford and Volkswagen do not plan to lay off employees at their Russian plants, the directors of the carmakers' Russian subsidiaries told news agency Prime-Tass on Tuesday.
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Volkswagen's largest captive financial services subsidiary believes rising risk premiums will likely force its poorly capitalized rivals to consolidate or go out of business.
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Volkswagen of America, Inc., Major League Soccer and Soccer United Marketing, MLS's marketing arm, today announced a new multi-year partnership. The agreement renews Volkswagen's status as the Official Automotive partner of Major League Soccer. Volkswagen has been an MLS partner since 2008
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Volkswagen's car making joint venture in north China with FAW has agreed to take over a subsidiary from FAW Group for 502.35 million yuan.
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Volkswagen plans to sell two versions of its Polo compact car in the United States: a sedan smaller than the current Jetta and a four-door hatchback roomier than the one shown this month at the Geneva auto show.
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Volkswagen plans to sell two versions of its Polo compact car in the United States: a sedan smaller than the current Jetta and a four-door hatchback roomier than the one shown this month at the Geneva auto show.
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High demand for the new Volkswagen Polo has stopped a temporary closure of the automaker's plant in South Africa, according to a German newspaper report.
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High demand for the new Volkswagen Polo has stopped a temporary closure of the automaker's plant in South Africa, according to a German newspaper report.
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It will take as long as 35 years for electric vehicles to gain a significant share of the global auto market, says Stefan Jacoby, CEO of Volkswagen Group of America.
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Volkswagen's American chief thinks US auto sales this year could come in under 10m units if consumer demand does not recover. His comments came as analysts at CSM Worldwide forecast sales of 9.7m units for 2009.
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Despite what it termed 'the dramatic deterioration in its business environment', the Volkswagen Group has said it met its unit sales, sales revenue and earnings targets last year and recorded the best figures in its history.
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Volkswagen today said its vehicle sales, revenue and earnings would all decline this year as a crisis in the auto industry continues.
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Volkswagen today said its vehicle sales, revenue and earnings would all decline this year as a crisis in the auto industry continues.
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