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NEWS ABOUT: Volkswagen

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Germany's Scheme to Scrap Cars Sparks Sales Explosion

Sales mostly go to small cars

(Newser) - Automakers are running out of gas all over the world—except in Germany. Volkswagen expects to have its best February ever, selling 120,000 cars, while GM subsidiary Opel has sold 40,000, its best month in 5 years, Der Spiegel reports. It’s all thanks to the scrapping bonus,... More »

Flashy Fare at Detroit Auto Show

Ogle the new beauties here

(Newser) - These may be dire times for the auto industry, but that hasn’t stopped it from putting on a show. Plenty of concept cars are taking their bows at the 2009 North American International Auto Show in Detroit, the Wall Street Journal notes; sort through some highlights in the slide... More »

Toyota Delays US Prius Factory

A planned Mississippi plant is on hold as market for autos weakens

(Newser) - It’s not just the Big Three. Toyota has delayed indefinitely the opening of a Prius factory near Tupelo, Miss., the Wall Street Journal reports, in the wake of plummeting demand. The factory was originally intended to build the Highlander sport-utility vehicle; when gas prices hit a high last spring,... More »

US Ports Awash in Foreign Cars

Masses of unsold imports back up in lots

(Newser) - The new car market is so flat that massive numbers of imported vehicles are being warehoused at ports and other available space, Reuters reports. Toyota, Nissan, Honda, Mitsubishi, Volkswagen, and other dealers can't take fresh deliveries because their sales lots are jammed with thousands of unsold vehicles. Demand for all... More »

VW Gamble Nets Porsche $20B, Wallops Hedge Funds

Short bets could push some European traders to bankruptcy after stock soars

(Newser) - Hedge funds that bet on a dive in Volkswagen shares are nursing some pretty stiff hangovers—to the tune of a possible $20 billion in losses—after the shares soared when rival Porsche announced over the weekend it had secretly acquired a 74% stake in its fellow German automaker, reports... More »

Top 10 Priciest Cars to Own

Mercedes takes top four spots on Forbes list

(Newser) - Gas prices may be sinking, but the owners of luxury and high-performance vehicles wouldn't know it. Factoring in $4-plus premium gas, depreciation, insurance, fees, and sales tax, some top cars cost double over a 5-year stretch what owners first paid. Forbes wheels out the priciest (including 5-year pricetag): More »

Eyeing US Market, VW Plans Tenn. Plant

Company hopes Chattanooga factory will improve market share

(Newser) - Volkswagen will invest around $1.6 billion to build a factory in the US—20 years after the closure of its last plant, Der Spiegel reports. VW hopes to have the plant, located in Chattanooga, Tenn., running by 2011, and operating at a rate of 150,000 cars per year.... More »

EU Will Toughen Car Ads to Curb Gas Guzzlers

Regulations would require CO2, gas mileage info in every advertisement

(Newser) - Car ads in Europe will soon have to highlight gas mileage and carbon dioxide emissions under regulations in the works from the European Union, Der Spiegel reports. EU commissioners hope regulating ads will motivate more Europeans to ditch gas-guzzling models, but manufacturers and media execs aren’t happy. The plan... More »

Buy Our Minivan, Give Your College Fund a Boost: VW

$1,500 incentive offered with purchase of Routan model

(Newser) - Volkswagen is offering an innovative incentive to parents to buy their Chrysler-built Routan minivan: $1,500 in a college savings plan, Left Lane News reports. The partnership with Upromise might pale to those with more pressing concerns (or who hate planning ahead), though: Chrysler itself is offering a credit card... More »

Porsche Speeds to $225B Euro Empire

VW acquisition would create Europe's biggest car & truck company

(Newser) - The map of Europe's car and truck industry is set to be redrawn with Porsche's likely takeover of Volkswagen, the Financial Times reports. Porsche's board voted to boost the sports car manufacturer's stake in Volkswagen to more than 50% yesterday, only hours after Volkswagen said it would buy a controlling... More »

Airbus, VW May Open US Plants

Weak dollar has European companies looking overseas

(Newser) - The dollar’s continued weakness against the euro has European companies such as Airbus and VW looking to move production to the US, reports Der Spiegel. “We don’t have a choice,” said the CEO of Aribus parent company EADS. If Airbus wins a contract to supply the... More »

VW Opens Russian Factory

Auto maker may find stiff competition already there

(Newser) - Volkswagen is attempting to break in to the Russian auto market by opening a major factory in the town of Kaluga, 100 miles southwest of Moscow. They are not alone: Der Speigel reports that Volvo and Renault already produce cars there, and GM, Ford and BMW have all grabbed substantial... More »

Court Overturns Volkswagen Law, Takeover Likely

Porsche to exercise control in VW

(Newser) - The EU’s highest court today overturned a 47-year-old German law that protected Volkswagen AG from takeover, opening the door for a long-rumored Porsche coup. Porsche already owns 31% of VW, but the law capped their voting rights at 20%. With that impediment gone, “I see Porsche flexing its... More »

Apple, VW Steer Toward iCar

Car would appeal to young target groups, analysts say

(Newser) - Apple and Volkswagen are cruising toward a new partnership to develop a car loaded with gizmos from the digital maverick. Steve Jobs met with VW chief Martin Winterkorn in California this week to discuss plans for an “iCar,” the AP reports. Negotiations have just begun, but a VW... More »

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