|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||13.21 - 13.31|
|52 Week Range||11.65 - 16.75|
|Beta (5Y Monthly)||1.29|
|PE Ratio (TTM)||4.96|
|Forward Dividend & Yield||0.95 (7.30%)|
|Ex-Dividend Date||May 11, 2023|
|1y Target Est||N/A|
VWAGY, TAP and GSL made it to the Zacks Rank #1 (Strong Buy) income stocks list on June 7, 2023.
German car makers are ramping up pressure on Brussels to avoid a post-Brexit “cliff edge” for the auto industry as officials in Whitehall race to strike a deal.
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.
The Ontario government on Friday offered to increase financial support for carmaker Stellantis's battery plant in the province, a move Canada's industry minister proclaimed a sign of progress in ending a stalemate over the stalled project. Stellantis on Monday stopped construction at a C$5 billion ($3.7 billion) electric-vehicle battery plant in Canada, which is being built in partnership with South Korea's LG Energy Solution (LGES), saying Canada had not fulfilled promises. Stellantis and LGES announced their battery plant investment in March last year, but tensions emerged when the United States in August passed the Inflation Reduction Act (IRA), a massive package of clean-tech incentives for companies.
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 Chief Financial Officer Arno Antlitz said on Wednesday a strategic investor could be found for the automaker's battery business PowerCo by 2024, with a potential listing to come later. Onlookers "shouldn't be surprised if in 2024 there might be a first step taken with a strategic investor," Antlitz said, speaking at the Reuters Automotive Conference in Munich. Reuters reported last November the group was holding discussions with investors to join its battery division, but plans were not yet concrete.
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.
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".
Volkswagen AG Chief Financial Officer Arno Antlitz said Wednesday the automaker is still weighing options for converting its Wolfsburg factory to build a new generation of electric vehicles called Trinity, or building a new factory for the models. Antlitz said the delay in the launch of the next generation Trinity electric vehicles gives Volkswagen the opportunity to retrofit the existing Wolfsburg operations, potentially for less than building a new 2 billion euro factory.
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.
Volkswagen software unit Cariad will likely bring its next generation 2.0 platform to market towards 2027 or 2028, its chief financial officer said at a Financial Times conference on Thursday. The software would enable so-called Level 4 autonomous driving and was due to be implemented across the fleet from 2026 but its development has suffered delays. Arno Antlitz said the company first wanted to concentrate on the version of the platform that will be implemented from next year in premium electric models like the e-Macan and Audi Q6 e-tron.
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.
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 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.