A federal judge has given the final approval of Volkswagen’s $15 billion settlement agreement with private plaintiffs represented by a Court-appointed Plaintiffs' Steering Committee. Eligible customers can now submit their claims to the German automaker.
Volkswagen is reaping the whirlwind for its deceptive ‘Clean Diesel’ advertisements with its TDI car models. The Federal Trade Commission of the United States has recently sued the German automaker saying that it deceived its customers with its dishonest promotion.
Volkswagen is poised to slash jobs in its facilities in the United States along with its factories in Europe and other countries. According to its top labor official in Germany, the company’s final decision will depend on how much fine will be slapped on it by the U.S. Justice Department for manipulating the diesel emission tests of VW cars.
German car manufacturer, Volkswagen Group, is currently under fire after the U.S. Congress grilled its CEO over the controversial emissions scandal. During a hearing at the House of Representatives on Thursday, lawmakers slammed federal environmental regulators for fraud detection failure.
Amid the controversy that hit Volkswagen, the company continues to thrive despite the state of turmoil it is currently in. Not surprising, though, is the fact that the recent scandal has pressured the company to suspend employees and pass the Chief Executive position to another person.
The 2016 Volkswagen Passat may have attracted considerable attention from the press, especially since the new iteration from the German automaker looks sportier than before. However, the updated sedan's unveiling failed to rescue Volkswagen's stock in the market.
Volkswagen made an announcement that it’s proposing to extend CEO Martin Winterkorn’s contract to Dec. 31, 2018. The company aims to make it to the number 1 spot of car manufacturing, and believes that his leadership paves the way. When the contact expires, he will be too old for the post that’s why names — potential candidates as CEOs — have surfaced.
Volkswagen’s recall would affect 420,000 vehicles from the United States and 41,300 from Canada over airbag problems. Earlier, it has been reported that thousands of this German brand cars got wiped out after the explosion in Tianjin.
Toyota’s January to June sales drop by 1.5 percent, allowing Volkswagen to over as the world’s largest carmaker. Big challenges lies for the German company, so the question is: Will they stay at the top or will Toyota regain its title?
Volkswagen's (VOWG_p.DE) Audi luxury division said on Friday sales increased 2.5 percent in April to 152,850 cars and sport-utility vehicles, the highest-ever level recorded for any month in the carmaker's history.
Volkswagen (VOWG_p.DE) said it would try to find a new chairman quickly and announced a long-planned tie-up of its truck brands, seeking to return the focus to business following the carmaker's shock ouster of former patriarch Ferdinand Piech.
Ferdinand Piech, who resigned as chairman of Volkswagen over the weekend, sowed the seeds of his own demise by reneging on a deal to support CEO Martin Winterkorn and secretly plotting to oust him instead, according to sources close to the VW board.
The leaders of Volkswagen's (VOWG_p.DE) supervisory board plan to meet soon to try to iron out an effective working relationship between Chairman Ferdinand Piech and Chief Executive Martin Winterkorn amid a leadership crisis at the automaker, a German newspaper reported on Monday.