VW has set a hefty goal for itself: to displace Toyota as the world’s No. 1 car company. The German automaker is actually within reach, thanks mainly to its huge lead in China. To overtake Toyota, however, VW will need to reall…
Volkswagen (VLKAY) CEO Martin Winterkorn said the company is on track to overtake Toyota Motor (TM) as the world’s largest automaker.
The German company beat Toyota’s full-year profit goal in the first nine months.
“The Volkswagen group continues to have its sights firmly set on capturing pole position in the automotive industry,” Winterkorn said in an e-mailed statement, according…
Continue reading Volkswagen on Track to Overtake Toyota, CEO Says
Volkswagen on Track to Overtake Toyota, CEO Says originally appeared on DailyFinance on Wed, 27 Oct 2010 07:34:00.
Filed Under: Company News, Technology, Earnings, Toyota, Autos, Retail
Legal wrangling may delay Volkswagen’s (VLKAY) merger with Porsche, Volkswagen CEO Martin Winterkorn said.
Volkswagen planned to complete a merger with Porsche in 2011. Porsche originally planned to buy Volkswagen by securing stock options, only to see its debt levels surge.
Now, U.S. based-short-sellers of Volkswagen stock are suing Porsche. They say the sports-car maker secretly…
Continue reading Legal Problems May Delay Volkswagen’s Merger With Porsche
Legal Problems May Delay Volkswagen’s Merger With Porsche originally appeared on DailyFinance on Tue, 19 Oct 2010 06:33:00.
Filed Under: Company News, Autos, Small Business
Luxury carmakers BMW and Mercedes-Benz forecast vigorous fourth quarter sales on growing demand from China.
BMW said it expects a “double-digit” percentage rise in fourth quarter deliveries, Bloomberg News said. Mercedes said it was “very confident” about continuing growth in the final three months of 2010.
“We expect sales to increase particularly rapidly in Asia, especially in…
Continue reading Luxury Carmakers Predict Strong Fourth Quarter
Luxury Carmakers Predict Strong Fourth Quarter originally appeared on DailyFinance on Fri, 08 Oct 2010 07:15:00.
Filed Under: Company News, Technology, Autos, Retail
The Organization for Economic Cooperation and Development upped its estimate for second quarter economic growth among its 33 member nations on signs that investment rose.
Gross domestic products in OECD countries increased by an average of 0.9% in th…