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Posts Tagged ‘Volkswagen Group’

Volkswagen Investing in Biggest Automaker Goal

German maker putting up nearly 86 billion Euros on plans.

by on Nov.24, 2014

VW CEO Martin Winterkorn said the company plans to invest nearly 86 billion Euros during the next five years into the automotive division.

The Volkswagen Group, with its sights set on becoming the world’s largest automaker by volume, has announced an ambitious invest five-year investment plan that competitors will be hard pressed to match

The VW Group plans to invest a total of 85.6 billion Euros on new models, innovative technologies and its global presence in its automotive division during the next five years, VW Chief Executive Officer Martin Winterkorn said. In addition, the VW Group’s Chinese joint ventures will invest an additional 22 billion Euros.

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Winterkorn said two-thirds of the total investment amount will flow into increasingly efficient vehicles, drives and more environmentally friendly production. This is the result of the group’s investment planning for 2015 to 2019 discussed by the VW Board Supervisory Board. (more…)

Porsche Pushes Into Bentley Territory with Panamera Exclusive Series

Limited-edition sedan lands above “base” Continental GT.

by on Oct.31, 2014

The Porsche Panamera Exclusive Series is creating a little sibling rivalry with the Bentley Continental GT.

When it comes to the upper reaches of the luxury car market, it’s getting hard to tell the players without a scorecard. And that means some sibling brands are suddenly turning into rivals.

The latest example comes with the unveiling of the new Porsche Panamera Exclusive Series. While it’s not the most expensive model the German maker has ever offered – at barely a third the price of the 918 Spyder ultracar – the limited-edition sedan lands well above the “base” Bentley Continental GT and not much below the British maker’s top-line Mulsanne model.

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Then again, Bentley is getting ready to roll out an all-new luxury SUV, which could start siphoning sales away from Porsche, its Volkswagen Group partner. (more…)

Automakers Buoying German Economy

Despite European recession, companies adding jobs in Germany.

by on Dec.31, 2013

Volkswagen and other German automakers are making a major impact on the country's economy despite a European recession.

With Volkswagen, BMW and Daimler AG all making major contributions, the success of the German auto industry continues to bolster that country’s economy, which is widely regarded as the strongest in Europe and one of the strongest in the world.

Despite the pressure for profits and the recession in Europe, the Volkswagen Group alone managed to add 11,000 new jobs in Germany during 2013.

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Through November, the Volkswagen Group employed about 260,000 people in Germany, compared to 249,000 at the end of 2012. (more…)

VW Facing Serious Challenges Even as Sales Soar

Maker rolls out 100,000th Passat from Chattanooga plant.

by on Jun.01, 2012

A VW Passat body under inspection at the maker's Chattanooga plant. Quality will be critical to meeting VW's ambitious growth target.

Half empty or half full?  When it comes to Volkswagen, Jonathan Browning is looking at the glass from both angles.

By most measures, it’s been a particularly good week for the German maker.  With sales for last month up 28.4%, VW is today reporting its best May since 1973.  That news comes less than a day after the 100,000th new Passat rolled off the Volkswagen assembly plant in Chattanooga, Tennessee.

There are plenty of other reasons to be in a positive frame of mind, starting with the growing number of potential buyers who are now aware of products like the Passat, as well as the newly updated Beetle, the recently redesigned Jetta and the expanding line-up of Volkswagen diesels.

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Nonetheless, the British-born Browning, CEO of the Volkswagen Group of America – which includes Audi and Bentley, as well as the VW brand – also sees quite a few reasons to worry whether the maker is operating “at a level that will support our growth.”


VW Bets on “Ecological Restructuring” As Path to Global Leadership

Automaker announces environmental plan; will show hybrid crossover, GTI convertible, AWD Passat.

by on Mar.06, 2012

This version of Volkswagen's Cross Coupe is powered by a diesel-hybrid powertrain.

The Volkswagen Group plans to continue its assault on the title of world’s largest automaker with a new concept, a droptop version of its iconic sports compact and an announcement of a major new initiative for a “major ecological restructuring,” the automaker said in advance of the Geneva auto show.

VW will spend more than two-thirds of its five-year,  62.4 billion euro ($82.4 billion) budget on more efficient vehicles. The money will be spent on new powertrains and technologies, as well as environmentally compatible production at its plants around the world.

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“Geneva 2012 marks the start of a fundamental ecological restructuring of the Volkswagen Group,” Volkswagen Chairman Martin Winterkorn said Monday.


Audi Soon to Decide on U.S. Assembly Plant

May be essential for Audi's goal of doubling sales.

by on Jan.14, 2011

Audi will decide whether to build a U.S. assembly plant by year's end, says Jonathan Browning.

Audi is giving serious consideration to adding its own production plant in the United States as part of the Volkswagen subsidiary’s plan to double sales to 200,000 by 2018.

While the German marque has become one of the world’s largest luxury brands – in some markets now leading more established rivals like Mercedes-Benz and BMW – it has continued to lag in the U.S., where it never fully recovered from a safety scandal back in the late 1980s, despite having been cleared by federal regulators.

Jonathan Browning, the new CEO of the Volkswagen Group, the U.S. subsidiary of Volkswagen AG overseeing both the VW and Audi brands, says a decision on the American assembly plant will be made by the end of 2011.

That would finally wrap up an ongoing debate that has spanned more than a decade.  While both Benz and BMW now have major assembly operations in the U.S., Audi has resisted setting up a “transplant” assembly line, in part, because of the limited sales volumes it has achieved in the States.  But critics have argued that the maker is suffering from a chicken-and-egg syndrome and can’t build volume without the plant.

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Playing in favor of setting up a facility, lopsided dollar/Euro exchange rates have made it increasingly cost-prohibitive to import vehicles from Europe, especially smaller models like the popular A4.


Milestones: Shanghai Volkswagen Builds 5 Million

Volkswagen Group’s first Chinese joint venture is 25 years old.

by on Oct.19, 2009


VW has long been the market leader in China since the Communist party chose it to help set up First Auto Works as the supplier of government vehicles.

The five millionth vehicle produced by Shanghai Volkswagen (SVW) left the assembly line late last week. The occasion also marked the 25th anniversary of the Volkswagen Group’s first German-Chinese joint venture. Established in October 1984, Shanghai Volkswagen was one of the first joint ventures to be set up as China opened its economy.

Together with FAW-Volkswagen in Changchun, the second joint venture, VW Group has delivered more than eight million vehicles from the Volkswagen, Audi and Škoda brands in China. China is now VW’s largest market, and the largest auto market in the world.

Between 2009 and 2011, VW will invest in a total of €4 billion in the world’s largest automotive market to introduce new vehicles and expand its production capacities in China. The expansion will be financed from the cash flow of VW Group’s Chinese joint-venture companies, which are required by Chinese industrial policies.

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The U.S. remains the only industrialized nation in the world without an industrial policy to protect wealth by creating and protecting manufacturing industries, as job losses continue and unemployment reaches highs not seen since the Great Depression.