|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||129.50 - 132.82|
|52-week range||117.45 - 172.29|
|Beta (5Y monthly)||1.29|
|PE ratio (TTM)||4.91|
|Forward dividend & yield||9.51 (7.24%)|
|Ex-dividend date||15 May 2023|
|1y target est||N/A|
Fans of Volkswagen’s old Microbus, or VW Bus, rejoiced when the brand brought back an electrified version of it, dubbed the ID. Buzz. Now those fans with growing families might be even happier - Fahrvergnügen indeed.
Volkswagen will start selling battery-powered versions of its VW bus in North America from 2024 onwards, the carmaker said on Friday, in what marks the reintroduction of the iconic model after a two-decade hiatus. Buzz vehicles for the North American market will be built at Volkswagen's plant in Hanover, Germany, the company said, adding batteries could be charged from 10%-80% in 25 minutes at available rapid charging stations.
Volkswagen has introduced extra shifts at its factory in Wolfsburg, the carmaker's biggest, after supply chain disruptions in the wake of the Ukraine war and global chip shortage have eased, a senior executive said. Imelda Labbe, who is part of the management board of the Volkswagen brand, said in an internal interview seen by Reuters that Volkwagen's German plants were significantly better utilised than in 2022. "Our production network in Germany was hit particularly hard by the consequences of the corona pandemic, the global chip crisis and the Ukraine war," Labbe said.
BERLIN (Reuters) -Volkswagen will not participate in a discount battle in China "at any price", Chief Operating Officer Ralf Brandstaetter said in an interview released on Wednesday. The German carmaker is under growing pressure in its most important market from up-and-coming Chinese manufacturers who are more successful with electric cars than their Western rivals. Brandstaetter expects the Chinese car market to grow from its current 22 million to between 28 to 30 million by 2030.
Automakers, including Toyota and Volkswagen, should decarbonise their steel supply and cut back on the material's consumption by reducing the size of vehicle models, Greenpeace said on Thursday. The world's 16 biggest automakers consumed 40 to 67 million tonnes of steel in 2021, Greenpeace said, estimating that the carbon footprint of the steel materials these car manufacturers used could have been at least 77 million tonnes of carbon dioxide (CO2) in that year.
Volkswagen AG Unsponsored ADR (VWAGY) closed the most recent trading day at $15.86, moving -1.55% from the previous trading session.
RYI, ROL and VWAGY made it to the Zacks Rank #1 (Strong Buy) income stocks list on May 22, 2023.
Volkswagen has completed the sale of its Kaluga production plant in Russia and its local subsidiaries, the German carmaker said on Friday, ending months of wrangling with Russian authorities over the deal. Volkswagen has sold its shares in Volkswagen Group Rus LLC to Art-Finance LLC, which is supported by autodealer group Avilon, VW said in a statement.
Volkswagen AG Unsponsored ADR (VWAGY) closed the most recent trading day at $16.06, moving +1.91% from the previous trading session.
BERLIN (Reuters) -German carmaker Volkswagen plans to overhaul its core brand to increase efficiency and returns, according to an internal memo from VW brand chief Thomas Schaefer seen by Reuters on Wednesday. The core brand's target was a return on sales of 6.5%, compared with the 3% achieved in the first quarter of this year, he said. Handelsblatt business daily first reported the plans, saying they involved cost savings and were designed to increase annual results by at least 3 billion euros.
Volkswagen is looking for ways to "enhance our China specific software," Antlitz said during an interview for the Reuters Events Automotive Europe conference in Munich. "We need more local driving assistance functions," he said, and more "local value added in China."
MUNICH (Reuters) -Volkswagen Chief Financial Officer Arno Antlitz said on Wednesday rising battery material costs mean it will be 2025 before the automaker can build some electric vehicles at the same profit margins as combustion models. "A lot of the margin parity depends on raw materials," Antlitz told the Reuters Automotive Europe conference. When Volkswagen launched its new electrification strategy in July 2021, it said it expected to reach margin parity between combustion engine and electric vehicles "within the next two to three years".
Investing.com -- Russian authorities have signed off on a sale of Volkswagen's (ETR:VOWG_p) assets in the country to car dealer Avilon for as much as €125 million, according to news agency Interfax, citing an unnamed source familiar with the matter.
MOSCOW (Reuters) -Russia's government has approved a deal for Volkswagen to sell its Russian assets to autodealer group Avilon for up to 125 million euros ($137.6 million), the Interfax news agency reported on Tuesday, citing a source. Should Volkswagen extract money from Russia while exiting, it would buck the trend of other major automakers, most of which have sold their assets in Russia for a nominal fee, but inserted buyback clauses that could one day allow them to return. It was unclear whether Volkswagen's deal would include a buyback clause.
BYD, Volkswagen, BMW and Stellantis are part of the Zacks Industry Outlook article.
Automakers including Volkswagen and General Motors could have considerable unused production capacity for conventionally powered vehicles in China by 2030 if they do not speed up their transition to electric vehicles (EV), Greenpeace said on Thursday. As demand for new energy vehicles (NEV) - including fully electric and plug-in hybrid cars - grows, new NEV-only producers such as BYD will take market share and leave legacy automakers sitting on wasted production space geared toward unwanted internal combustion engine (ICE) cars, the organisation said. Over-capacity in China's combustion engine car industry is a long-standing issue, with a ban in place by regulators since 2017 on the construction of new capacity.
The growing popularity of EVs is a significant catalyst for the growth of the foreign auto market. Ride the green revolution with four top-ranked auto stocks - BYDDY, VWAGY, BAMXF and STLA.
BERLIN (Reuters) -Volkswagen defended its record in China and its decision to jointly own a plant in the Xinjiang region after activists and investors lashed out at the carmaker at a volatile annual general shareholder meeting on Wednesday. About ten activists, including one topless woman with 'Dirty Money' painted on her back, interrupted executives' speeches, shouting that the carmaker's vehicles were built with forced labour and waving banners that read: 'End Uyghur Forced Labour'. The United Nations said last year that China's "arbitrary and discriminatory detention" of Uyghurs and other Muslims in its Xinjiang region may constitute crimes against humanity.
(Reuters) -Volkswagen has appointed Bentley production chief Peter Bosch to lead its software subsidiary Cariad, dismissing all but one of the unit's current executive board members as the automaker tries to get the troubled division on track. Bosch will take over from June 1, the German group said on Monday, with two further software experts to join Cariad's board alongside him and human resources head Rainer Zugehoer, the only board member to remain in his post. Bosch, a former Oliver Wyman consultant who spent nearly seven years at the Volkswagen brand before moving to Bentley in 2017, will also take over financial management at Cariad, Volkswagen said, confirming an earlier Handelsblatt report.
Volkswagen (ETR:VOWG_p)'s Skoda Auto has reported a staggering 60.8% year-on-year increase in operating profit for Q1 2021, reaching €542m ($598m). The impressive growth is attributed to a rise of a third in revenue, hitting €6.8bn. The automaker noted that global deliveries experienced a 12.6% uptick during the period, with higher sales observed in southern and western Europe.
Carmaker Volkswagen is set to dismiss all but one of the executive board members at its software division Cariad next week to try to resolve development problems, a person familiar with the matter told Reuters on Saturday. The unit - set up under former VW group CEO Herbert Diess -has exceeded its budget and failed to meet goals, contributing to Diess' departure and replacement by Oliver Blume last September. Cariad's supervisory board is expected to sign off on the dismissals in a meeting next week, the source said on Saturday, adding that only the unit's head of personnel, Rainer Zugehör, might stay on.
Volkswagen declined to comment. Earlier this year, GAZ filed two lawsuits against the German carmaker seeking a total of around $545 million in losses and damages, saying VW's moves to exit the Russian market had put its interests at risk. It initially persuaded a court to freeze Volkswagen's assets in Russia pending court proceedings - a decision the court reversed in April.
In the latest trading session, Volkswagen AG Unsponsored ADR (VWAGY) closed at $16.89, marking a +1.81% move from the previous day.
"We are not setting up a joint venture," Bosch Chief Executive Officer Stefan Hartung said, adding that the partnership with the German carmaker to digitise its battery factories would continue. As speed is key in digitalisation, it would be "better to work together on a project level than in such a construction" Bosch's head of digital Tanja Rueckert said.
Volkswagen sees higher competition later this year as supply chain bottlenecks ease and China's electric car market heats up, the carmaker said on Thursday, adding that it put margins over volume even as it fights to maintain market share. The company was emboldened to stick to its annual outlook of a return on sales of 7.5% to 8.5% and higher deliveries by a strong first quarter, boosted by higher revenues in Europe and North America. In China, though, sales fell by 14.5% and Chief Financial Officer Arno Antlitz acknowledged that the carmaker had work to do to catch up with domestic competitors on battery-electric vehicles.