Volkswagen Financial News

Honda Motor plans to launch six next-generation electric vehicle (EV) models branded Ye in China by 2027, the automaker said on Tuesday. It added that it also planned to roll out a total of 10 Honda-brand EV models in China by 2027 in the race to ensure EVs make up 100% of its automobile sales in the country by 2035. Japan's second-biggest car maker has lagged behind European and U.S. competitors such as General Motors and Volkswagen in ramping up EV sales.

India declined 5.5 per cent in FY24 due to the monetary crisis in various overseas markets, according to the latest data shared by industry body SIAM. Overall exports stood at 45,00,492 units in the last fiscal compared to 47,61,299 units in FY23. Commenting on the drop in overseas shipments last fiscal, SIAM President Vinod Aggarwal said the situation remains volatile in various overseas markets. «Some of the countries, where we are very strong with commercial vehicle and two-wheeler exports, have been facing foreign exchange-related issues,» he noted.

A majority of workers at a Mercedes-Benz plant near Tuscaloosa, Alabama, are calling for a vote to join the United Auto Workers union, which is on a drive to sign up non-union plants across the country

electric vehicle policy will help global carmakers expedite decisions on investing in manufacturing EVs in the country besides allowing brands gauge customer response to premium EV models in a value conscious market, said a senior executive at the local arm of Czech carmaker Skoda Auto. Speaking to ET, Petr Janeba, brand director, Škoda Auto India said the policy will make high-end EVs more popular in the Indian market as there will be a lot of variety to choose from. “The Volkswagen (VW) Group is committed to invest in India, so any such policy will help in expediting the decisions. We are now in the middle of calculations. With the new policy, it looks more positive than before,” said Janeba, who joined the Indian operations in January. He did not elaborate.

SAIC Motor intends to significantly reduce its workforce at its joint ventures with General Motors (GM) and Volkswagen (VW), as well as at its electric vehicle (EV) subsidiary, Reuters reported citing sources. The planned reductions include slashing 30 percent of employees at SAIC-GM, 10 percent at SAIC Volkswagen, and over half at its Rising Auto EV arm, it added. The staff cuts are not expected to occur all at once through mass layoffs but are targeted for the year 2024.

Workers at Volkswagen’s factory in Chattanooga, Tennessee, will vote next month on whether they want to be represented by the United Auto Workers union

By David Shepardson

Volkswagen Brand Director, Ashish Gupta, hinted at the potential revival of the iconic Polo. While confirming that there are presently no immediate plans for its relaunch, Gupta acknowledged the possibility for its return in the future, but with a transformative twist. According to Gupta, the revival of the Polo could manifest in innovative formats such as an SUV or an electric vehicle (EV).

Volkswagen India recently unveiled a range of new products at its annual brand conference. Among the highlights were the new GT Plus Sport and GT Line variants for the Taigun SUV, along with the debut of the much-anticipated ID.4 electric vehicle. The German carmaker also revamped the line structure for the Taigun, its GNCAP 5-star rated SUV. Bookings for the Taigun GT Plus Sport and GT Line variants have already begun. Revamped Line Structure for Taigun The Taigun will now be available in three trims: 'GT Edge', 'Chrome', and 'Sport'. The GT Edge variants will feature the Edge Collection with exclusive exterior colour options. The Chrome line offers a choice between a 1.5-litre, four-cylinder turbocharged petrol engine paired with either a 7-speed DSG or 6-speed manual transmission, and a 1.0-litre, three-cylinder turbo-petrol engine available with a 6-speed automatic or manual transmission. The top-of-the-line Sport trim will feature a unique blacked-out treatment and will be offered in both the GT Plus Sport and GT Line variants.

A major automaker made a deal with California to cut greenhouse gas emission from cars as the state transitions away from gas-powered vehicles

By David Shepardson

Workers at a Tennessee factory ask for vote on representation by the UAW.

A German court says former Volkswagen CEO Martin Winterkorn will go on trial in September on charges of fraud and market manipulation linked to the automaker’s diesel emissions scandal

car industry has for the second time revised upwards its growth projections for this fiscal to more than 8%, nearly twice the rate projected at the start of the year. Passenger vehicle sales in the local market are expected to grow by 8.1-8.2% to 4.23 million units in FY24, buoyed by better-than-expected economic growth especially in the last two quarters, favourable monsoons despite the El Nino conditions, and effective monetary policies that helped rein in high inflation without affecting domestic consumption buoyed demand, industry insiders said. Earlier in the year, the industry had estimated sales of 4 million units and 4.13 million units.

car industry has for the second time revised upwards its growth projections for this fiscal to more than 8%, nearly twice the rate projected at the start of the year. Passenger vehicle sales in the local market are expected to grow by 8.1-8.2% to 4.23 million units in FY24, buoyed by better-than-expected economic growth especially in the last two quarters, favourable monsoons despite the El Niño conditions, and effective monetary policies that helped rein in high inflation without affecting domestic consumption buoyed demand, industry insiders said. Earlier in the year, the industry had estimated sales of 4 million units and 4.13 million units.

By Lewis Jackson and Stella Qiu

SAO PAULO (Reuters) — Japanese auto maker Toyota (NYSE:TM) this month will announce an 11 billion real ($2.2 billion) investment in Brazil, local newspaper O Globo reported on Sunday.

Project Titan, which reportedly spanned over a decade, initially aimed to rival Tesla's dominance in the electric vehicle market. There were even speculations about Apple considering the acquisition of Tesla, engaging in talks with the maverick entrepreneur Elon Musk. The project later shifted gears to explore self-driving car technology, only to revert to its original focus on developing an electric vehicle.

The United Auto Workers says a majority of workers at a Mercedes plant near Tuscaloosa, Alabama, have signed cards in support of joining the union

Toyota and Honda vehicles and 150,000 Ford vehicles in the US. The notice has been issued by the National Highway Traffic Safety Administration. Mercedes-Benz has has also recalled thousands of SUVs in order to fix transmission software, as per a report in USA Today. While Ford vehicles have been called for seat belt issue and Honda, and Toyota vehicles were called for air bag issues, USA Today reported.

Skoda Auto Volkswagen India, one of the leading automakers in the country, has received the Indian Green Building Council (IGBC) Platinum certification in the Indian Automotive Industry in the owner-occupied category.