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Volkswagen Likely Bringing Budget Brand to China in 2014

Maker working on cost while ensuring safety of vehicle.

by on Nov.26, 2013

VW's Martin Winterkorn said earlier this year the company plans to have a budget brand for China.

Volkswagen looks to have its “budget” brand ready to roll next year in China with other markets possibly getting variants of the vehicles.

The German maker recently reiterated its plans to bring a lower-cost, localized brand to China: a strategy similar to other foreign automakers in the country.

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During the North American International Auto Show in January CEO Martin Winterkorn said VW would be ready to make its intentions known by the end of the year, but VW brand development boss Dr. Heinz-Jakob Neusser has said in recent reports that the company is still doing its homework in a budget lineup for China. (more…)

Volkswagen Forges Deal With Union

Maker raises wages for IG Metall workers in Germany.

by on May.28, 2013

Volkswagen reached agreement on a new contract with its primary union, IG Metall.

Volkswagen AG agreed to a new labor contract with its principal German labor union, IG Metall, to raise wages by 5.7% over 20 months.

VW will increase base pay of its German workers by 3.4% as of Sept. 1, and another 2.2% as of July 1, 2014, the Wolfsburg, Germany-based maker said. In addition, the company will make a one-time payment of €300 to the company pension plan.

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Dr. Horst Neumann, Volkswagen Aktiengesellschaft Board of Management Member for Human Resources, noted, “Employees are receiving a good pay increase. In addition, Volkswagen is improving company pension arrangements for its workforce, particularly with reference to young employees.