Volkswagen AG

Volkswagen AG engages in the production and sale of passenger cars and light commercial vehicles. The firm also develops vehicles and components for the brands of the group. It operates through following segments: Passenger Cars and Light Commercial Vehicles, Commercial Vehicles, Power Engineering, and Financial Services. The Passenger Cars and Light Commercial Vehicles segment includes the development of vehicles, engines and vehicle software, the production and sale of passenger cars and light commercial vehicles, and the corresponding genuine parts business. The Commercial Vehicles segment covers the development, production, and sale of trucks, and buses, and the corresponding genuine parts business and related services. The Power Engineering segment deals with the development and production of large-bore diesel engines, turbomachinery, and propulsion components business. The Financial Services segment involves dealer and customer financing, leasing, banking, insurance, and fleet management services. The company was founded on May 28, 1937 and is headquartered in Wolfsburg, Germany.

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Volkswagen AG engages in the business of developing vehicles and components for the brands of the group. It operates through the following segments: Passenger Cars and Light Commercial Vehicles; Commercial Vehicles; Power Engineering; and Financial Services. The Passenger Cars and Light Commercial Vehicles segment includes developing vehicles, engines, and vehicle software; producing and selling passenger cars and light commercial vehicles; and the corresponding genuine parts business. The Commercial Vehicles segment focuses on trucks, buses, corresponding genuine parts business, and related services. The Power Engineering segment is involved in large-bore diesel engines, turbomachinery, and propulsion components business. The Financial Services segment provides dealer and customer financing, leasing, banking, insurance, and fleet management services. The company was founded on May 28, 1937 and is headquartered in Wolfsburg, Germany.

The company has now lowered the forecast for its operating return on sales to a 6.5% to 7% range, from 7% to 7.5% previously. It noted that is also considering the restructuring or potential shutdown of its Audi plant in Brussels on the back of weak demand for the Audi Q8 e-tron line.

Volkswagen shares slip as it considers Brussels plant closure on weak EV demand

Shares in Volkswagen Group (XETRA:VOW) held firm after it reduced its 2024 sales forecast and flagged the potential closure of an Audi electric vehicle (EV) plant in Brussels. The shutdown decision could significantly impact Volkswagen's overall results with the auto giant now projecting an operating return on sales of between 6.5% and 7%, down from the previous 7% to 7.5%.

VW shares hold their ground after German automaker downgrades sales forecast

Shares in Volkswagen fell 1.5% in early Frankfurt trade after Europe's biggest carmaker late on Tuesday issued a profit warning due to charges related to the possible closure of Audi's Brussels plant.

Volkswagen shares down after possible Brussels plant closure, profit warning

Volkswagen Group lowered its forecast for operating returns on Tuesday to 6.5-7% from 7-7.5% as it announced that the Audi brand was considering closing its Brussels site because of low demand for the electric higher-end cars it produces.

VW Group lowers forecast on possible closure of Audi Brussels site, other expenses

Porsche Automobil Holding SE

Atlanta, July 09, 2024 (GLOBE NEWSWIRE) -- Atlanta. Porsche Cars North America, Inc. (PCNA) today announced that second-quarter retail deliveries in the United States totaled 21,304 cars to contribute to the best quarterly performance in PCNA history – a rise of 13 percent YoY for this period.

Porsche reports U.S. retail sales for second quarter of 2024

German sportscar maker Porsche said on Tuesday that global vehicle deliveries were down 7% in the first half of the year compared to the same period in 2023, citing a challenging global market environment and a tense economic situation in China.

Porsche AG posts 7% delivery decline in H1

Mobileye Global Inc

JERUSALEM--(BUSINESS WIRE)--Volkswagen AG recognizes Mobileye among its top suppliers globally for 2024.

Volkswagen Group Names Mobileye Among Top Suppliers for 2024

Volkswagen is significantly undervalued, with its investments in Porsche AG, Traton SE, and other premium brands effectively making its other assets, including Rivian, "practically free" for investors. The company is strategically investing in electric vehicle technology and partnerships, including substantial stakes in Rivian, Xpeng, and innovative battery technologies through PowerCo, to enhance its competitiveness and future profitability. Despite past challenges, Volkswagen has restored profitability, maintains a robust balance sheet, and continues to innovate, positioning itself for growth in the competitive EV market, particularly in China.

The Undervalued Volkswagen: Your Free Pass To Rivian's Success

German battery maker Varta on Thursday said it is in talks with Porsche over a potential investment in its large-format lithium-ion battery business, V4Drive.

German battery maker Varta eyes Porsche investment for battery unit

Volkswagen offers a mix of attractive ICE technologies and aggressive EV expansion plans, with a potential upside of 60-70% according to my PT of €210/share. I invested in Volkswagen at an attractive valuation over a year ago, owning preferred stock with generous dividends. Despite recent declines, I believe the market overreacted to the company's earnings potential and fundamental upside.

Volkswagen: A Good Income Investment With Stability And Long-Term Upside Potential

Germany's cabinet blocked the planned sale of the gas turbine business of Volkswagen unit MAN Energy Solutions to a Chinese company on Wednesday, with ministers citing security reasons.

Germany stops planned sale of VW's gas turbine business to China

The National Highway Traffic Safety Administration (NHTSA) on Wednesday closed a recall query on Volkswagen for 420,072 vehicles after they were fixed to remedy a potential fuel leak.

NHTSA closes Volkswagen recall query on about 420,000 vehicles

Germany's cabinet blocked on Wednesday the planned sale of Volkswagen subsidiary MAN Energy Solutions' gas turbine division to a Chinese company, two government sources said.

Germany blocks planned sale of VW's gas turbine business to China - sources

BERLIN--(BUSINESS WIRE)--HARMAN, alongside CARIAD, the automotive software company of Volkswagen Group, today announced new collaborations across key industries to enrich the in-cabin experience with newly available apps. This expands the range of apps available in the Group Application Store, a uniform in-car application store for cars of the Volkswagen Group brands, to more than 70 depending on the model and market. The Group Application Store integrates with the HARMAN Ignite Store, a soluti.

HARMAN and CARIAD Announce Growing Ecosystem with New Apps Within Volkswagen Group Vehicles

Rivian Automotive

Rivian denied a media report on Tuesday that said the U.S. electric vehicle company was in early talks with Volkswagen to extend their partnership beyond a recently announced software joint venture.

EV maker Rivian denies media report on production talks with VW

Matthias Wacker takes on the role as Director, After Sales effective July 1, 2024 Matthias Wacker takes on the role as Director, After Sales effective July 1, 2024

Porsche Cars Canada appoints new head of After Sales

British American Tobacco

Altria

The stocks of iconic brands are en masse. However, the informational asymmetry linked to the financial markets means that few are undervalued.

3 Iconic Brands Offering Both 5% Yields and 50% Upside at Current P/Es

Rivian Automotive, Inc. stock surged after Volkswagen's investment, settling around $14, above moving averages. The Volkswagen deal validates Rivian, reduces risks, and aids in production expansion and distribution. Investor day highlighted cost reduction focus, production goals, and potential for selling puts as an investment strategy.

Rivian: Here's My Game Plan After The VW Deal And Investor Day

Management is aggressively cutting costs through its performance program and recently announced bullish 2030 profitability targets. Protectionism and deglobalization will protect Volkswagen from Chinese EVs. Concerns over Volkswagen's Chinese business are overblown because it accounts for a fraction of Volkswagen's income.

Volkswagen: China Concern Overblown, Valuation Looks Attractive

The partnership announced Tuesday between Rivian (RIVN) and Volkswagen (VWAGY) may set the path forward for traditional automakers and EV companies as the market for electric vehicles (EVs) continues to grow.

What's Next for US EV Makers After $5B Rivian-Volkswagen Deal?

Atlanta, June 27, 2024 (GLOBE NEWSWIRE) -- Porsche has earned the number one ranking in the luxury segment in the J.D. Power 2024 U.S. Initial Quality Study (IQS), released Thursday.

Porsche earns top spot among luxury brands for new vehicle quality in J.D. Power 2024 U.S. Initial Quality Study

John Cappella succeeds Joe Lawrence to lead operations at Porsche Cars North America John Cappella succeeds Joe Lawrence to lead operations at Porsche Cars North America

John Cappella appointed as Executive Vice President and Chief Operating Officer at Porsche Cars North America

China's SAIC Motor and German carmaker Volkswagen have signed several energy technology cooperation agreements related to their SAIC Volkswagen joint venture in China.

Carmakers SAIC and Volkswagen sign energy technology cooperation agreements

A few camouflaged Audis arrived secretly from Germany early this year at a facility of electric vehicle (EV) maker Rivian in California, where some 30 engineers stripped the electronics and fitted them with the U.S. startup's harnesses and modules.

Focus: Cloaked Audis, covert CEO meeting: how VW's $5 bln Rivian bet transpired

Shares of electric vehicle maker Rivian Automotive (ticker: RIVN) are soaring, with the stock up more than 40% in premarket trading as of the time of this writing. The reason for the stock surge?

News for Volkswagen AG Stock (VWAGY)