European car sales rose to 9.2% in 2015. Demand in December is recorded as the strongest one in the entire year. However, Volkswagen is excluded from the strong gain.
Tags: Volkswagen
Audi posts 3% fall in 2015 profit owing to emission scandal
Audi AG reported a drop of 6.1% in its operating profit for 2015. The carmaker's profit after tax declined 3% owing to costs of repairing diesel engines related to emission scandal.
Volkswagen Introduced Its New Luxury Sedan, Only for China Market
Volkswagen unveiled Phideon as its new luxury car today, ahead of Geneva International Motor Show. The successor of Phaeton will only be sold in China.
Emission Scandal Contracts VW European Sales The Most, Pushing Recalls To Fix The Vehicles
Volkswagen is facing a drop in its sales due to the emission scandal on its engines. The Germany automaker has to conduct recalls to repair the troubled cars. This scandal also has opened chances for its rivals to grab its markets.
Toyota Motor contemplates a complete buyout of Daihatsu
Toyota Motor is seriously contemplating a buyout of Daihatsu Motor Co., which would give the company direct access to Daihatsu’s 660 cc mini vehicles. This investment would fetch Toyota great returns in the emerging markets and also enable leveraging of the low-cost production model that has long been Daihatsu’s competitive advantage.
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Volkswagen has come up with a new solution to solve the car emission problem and is planning to install a catalytic converter to the car involved. The catalytic converter will also include installation of a urea tank to help break down the Nitrogen Oxide.
Bugatti partnered with Wisconsin-based Palmer Johnson to develop an open-superyacht called Niniette, which costs $2.1 million to $3.5 million.
Audi admitted that there are some 85,000 more Volkswagen cars with illegal defeat devices that can disable emissions control functions. According to Digital Trends, the vehicles are U.S.-spec cars with 3.0-liter TDI V6 engine, which are typically under the hoods of Audi models like the A6, A7, A8, Q5, and Q7.
Registering slowest growth rate during the past nine quarters, Hungary's economy growth rate was weakest during the third quarter ending September as agriculture production drop impacted the gross domestic product (GDP) significantly. The stagnant construction activity coupled with underscoring risks to the government's capacity to keep up the economic momentum has been adversely impacting the GDP growth rate.
Hit by its emission-scandal, Volkswagen is lagging behind in the global automobile market, while auto sales are encouraging picking up mostly in the US. The German auto giant is facing adverse conditions in the automobile market globally after the emission norms scandal broke. The company is struggling to get back angry dealers to business mode to prevent further loss.
German automobile giant Volkswagen is changing gears to lead the organization on damage control path to appease its angry customers. The image of Volkswagen has severely been damaged on the fallout of its attempt to cheat customers and the US government over emission standards.
Taking positive cues from encouraging gains on Wall Street, Asian stocks with an exception to China moved up on Tuesday. Chinese stock market dropped following the jitters emerging from adverse developments in forms of corruption and illegal trading that dampened the market sentiment.
The Mercedes-Benz cars manufacturer Daimler had released its third quarter report for record sales and revenues. The car cited strong progress in Western Europe which is its biggest market, but its feat was surpassed by the sales it made in China.
Hyundai Motor Co's net profit for the third quarter ending September fell 23 percent. The steep fall in China sales coupled with aggressive global incentives impacted the South Korean automobile major's performance in a more negative way.
