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German manufacturer Volkswagen has presented its financial results for the third quarter. This is for the first time when one of the largest automaker in the world after the "diesel scandal" has declared its financial report.The operating loss of Volkswagen in the third quarter amounted to 3.48 billion euros against a profit of 3.23 billion euros in the same period last year. The index exceeded the forecasts of analysts, who had expected that it will be 3.3 billion euros. The loss was the result of "diesel scandal", causing the concern to put aside 6.7 billion eur...
According to Reuters News Agency Ford Motor Company has released plans on a strong investment of $1.8 Billion (11.4 Billion Yuan) spread over a period of five years to expand R&D in China. This news confirms the direct and concerted effort made by the US Motor giant carmaker in order to secure for itself a rather large slice of the world’s largest auto market, still untapped by some major players. Ford now stands as the fifth-largest foreign automaker in China. It follows GM, Volkswagen AG, Hyundai, and Nissan. However, Ford has had a rapidly ascending ga...
There is no doubt that ceratin automotive brands have to benefit from the Volkswagen's troubles after the emissions scandal.Full-line brands including Ford, Toyota and Honda are the most frequently cross-shopped against VW, according to market experts' data. Based on cross-shopping patterns, these brands could gain most if shoppers spurn VW: Ford would gain 26%, Honda - 23%, Toyota - 20%, 18% would go to BMW and 19% - to Mazda.But Volkswagen might have enough in its arsenal to keep some of those shoppers in the fold. Some gasoline-powered VW models had a s...
Volkswagen was the one of the most successfully car maker in car selling, but because of diesel emissions tests they were for a moment stopped. Despite of admitting that 11 million vehicles worldwide were affected by the rigging of diesel emissions tests, the company sold 845 Volkswagen cars.Today's CSO figures show that a total of 5,924 new private cars were licensed for the first time in September, an increase of 35.4% compared with the same time last year. They also disclosed that 3,743 imported, or used, cars were licensed. But the number of imported cars fell by 12.2% compared wi...
According to Reuters, the newly elected Chairman of Volkswagen will be having his first board meeting on Wednesday. Hans Deiter Poetsch will barely have time to truly hold the reigns on the German Auto Giant and steer it into the course which will lift it from the abyss it finds itself in now.After Volkswagen admitted to cheating US Emissions Tests H.D. Poetsch will be appointed to lead the 20-person supervisory board which has been convened at the German headquarters in the city of Wolfsburg.Poetsch is now in charge of finding the culprits, fully show exactly how many affected vehicles ...
