Now continent’s most valuable carmaker after blockbuster IPO.
GM surges, peers also gain, though some see declines amid market pressures.
BMW will reach the higher end of its 7-9% margin target for its vehicle business and will see slight sales growth in 2023, forecasted CFO Nicolas Peter in a roundtable this week.
Customers in select regions can now schedule an in-person Alexa guided test drive of VW’s ID.4 SUV.
Porsche SE, Volkswagen’s biggest shareholder, said it plans to scoop up 25 percent, plus one extra share, in carmaker Porsche AG voting stock when VW lists the sports car brand.
Italy, Portugal, Slovakia, Bulgaria and Romania want to delay a EU plan to ban the sale of new gasoline and diesel-powered vehicles in 2035 by five years.
Volkswagen forecasts its sales will rise 8%-13%, an operating profit margin of 7.0%-8.5% and an increase in deliveries of 5-10% in 2022.
Experts predict the Russian invasion of Ukraine could slash global production of new cars and trucks by millions of units in 2022.
Volkswagen and Renault will suspend operations temporarily as Russia’s invasion of Ukraine impacts European supply chains.
Volkswagen and its top shareholder have prepared a preliminary agreement to list Porsche to boost the parent company's valuation and fund its push into EVs.
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