Audi appointed Abraham Schott interim CEO following the arrest of Rupert Stadler earlier in the week. The German premium car maker said Schot, who has headed sales and marketing at Audi since 2017, is taking over immediately. Audi said Stadler had requested to be relieved of his duties, both as head of Audi and as Read More..
Volkswagen Group said it had reached a settlement with US regulators, private plaintiffs and 44 US states on penalties to pay for manipulating the emissions of almost 500,000 diesel-powered cars it sold in the US in recent years. The agreement will cost the carmaker as much as 15 billion dlrs in compensation to Volkswagen car Read More..
AutomakersÂ conceded that laboratory tests of exhaust emissions don’t accurately reflect real driving conditions and called for the adoption of a new test regime. Germany’s Federal Motor Transport Authority (KBA) and the UK Department for Transport last week released reports showing that emissions from diesel cars are, in general, far higher than shown in the officialÂ tests. Read More..
Volkswagen swung to an after-tax loss in 2015 after it took a 16.2 billion euro extraordinary charge to account for costs related to its US emission-test cheating. The German carmaker said after-tax earningsÂ swung to a 1.36 billion euro loss in 2015 from a profit of 11.07 billion euros the year before. VW said the special Read More..
Volkswagen has namedÂ Thomas Sedran as its new head of group strategy effective November 1. The appointment marks the second time in recent weeks that the embattled carmaker appoints someone from outside the group to assume key responsibilities. Sedran, 51, most recently was interim CEO at General Motors’ Opel division and, from 2013, headed GM’s Chevrolet Read More..
Volvo Cars, responding to growing anti-diesel sentiment, said it will build a full electric car that will be onÂ sale by 2019. The Swedish car brand also saidÂ it expects that, in two years, one of out 10 Volvos sold will be electrical. To achieve this, it plans to introduce plug-in hybrid versions of all its models. Read More..
Porsche boss Matthias Mueller will succeed Martin Winterkorn as CEO of the Volkswagen Group, the carmaker’s supervisory board decided late Friday. Mueller, 62, was one of the main candidates to take the position, following the resignation of Winterkorn on Wednesday.Â He is a Volkswagen Group veteran, who joined Audi in 1977 and has worked across the Read More..