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Volkswagen Drops $1.83 Bil into the Red for Q3

Senior exec apologizes for diesel emissions scandal during Tokyo Motor Show news conference.

by on Oct.28, 2015

The real battle for world dominance will be in China where VW is firmly entrenched.

VW only began to feel the impact of its diesel scandal during the third quarter.

Only starting to feel the financial pain from its diesel emissions scandal, Volkswagen AG reported a $1.83 billion third-quarter loss on Wednesday.

The German maker also announced that it saw a 1.5% year-over-year decline in vehicle sales for the first nine months of 2015, to 7,430,794. VW surged to first place in the global sales race during the first half of the year, but it has now slipped back into second, losing its lead to Toyota Motor Co.

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Third-quarter sales and earnings were only partially impacted by the revelation that VW had cheated on diesel emissions tests by installing special software in 11 million vehicles sold worldwide – including 482,000 in the U.S. During an appearance at the Tokyo Motor Show earlier on Wednesday, a senior VW official bowed an issued an apology.


VW Vies for World Domination

Toyota tumbles, GM stuck in 2nd in analyst survey.

by on Oct.25, 2011

VW Chairman Martin WInterkorn may get his wish of world domination seven years early.

Volkswagen’s ambitious Chairman Martin Winterkorn may get his wish a half decade earlier than expected, a survey of key auto analysts predicting that as we roll into the final months of 2011 the German company is poised to become the world’s largest automotive manufacturer.

That’s at least seven years ahead of VW’s original target for world domination – but the maker had an unexpected, if tragic, helping hand.  Toyota, which had been the automotive king-of-the-hill for several years running, has been toppled by the Japanese earthquake and tsunami that crippled production for most of that country’s manufacturers for much of the past year.

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General Motors, meanwhile, is also expected to push past Toyota, though it won’t regain the lead it held for three-quarters of a century thanks to the aggressive sales push by VW, according to a study by Bloomberg News.

That report predicts that sales will rise 13% this year for Volkswagen – which was the number-three maker for 2010 – to 8.1 million.  General Motors will gain 8%, to reach 7.5 million.  Toyota, meanwhile, will see sales slip by 9%, to 7.27 million, according to the analyst survey.


Volkswagen Moving Closer To Global Top Spot

VW could soon displace sales leader Toyota.

by on Aug.18, 2010

The success of the new Jetta could determine whether VW ousts Toyota as global sales chief.

New numbers from Volkswagen indicate the German automaker is moving closer to displacing Toyota as the world’s top automaker.

The Volkswagen Group reported from its headquarters in Wolfsburg that it sold more than 4 million vehicles between January and July, representing a 13.7% increase.  As a result, Europe’s largest automaker continued to out-perform the overall market, inching closer to the top spot.

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In the last direct comparison between VW and Toyota at the end of June, the Japanese auto giant had the lead having sold 3.862 million vehicles to VW’s 3.598 million.  However, VW, which has never kept secret its desire to replace Toyota as the world’s largest automaker, has plenty of momentum, including record sales in China.


Volkswagen Topples Toyota – For Now

German maker is globe's largest for year-to-date.

by on Nov.11, 2009

Products like the new Golf GTI have helped VW topple Toyota as the globe's biggest automaker.

Products like the new Golf GTI helped VW topple Toyota as the globe's biggest automaker.

It didn’t take much to topple the king-of-the-hill, apparently.

It was less than a year ago that Toyota Motor Co. finally achieved its long-held goal of becoming the world’s largest auto manufacturer, pushing aside the troubled General Motors, which had held that title for three quarters of a century.  But now, facing some serious problems of its own, Toyota has surprisingly slid back to the number two slot.

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And the new world dominator?  Volkswagen AG, which has fared surprisingly well, in most global markets, despite the nearly pandemic economic crisis.  For the first nine months of the year, VW produced 4.4 million cars, trucks and crossovers, compared to just 4.0 million for Toyota.