Page 3 - Volkswagen

Volkswagen India, Skoda set to hike prices by up to 2% from January

Volkswagen Passenger Cars India on Tuesday said it plans to hike prices by up to 2 per cent across model range to offset adverse impact of rising input and material costs from January 1, 2024. Already other manufacturers such as Maruti Suzuki, Hyundai Motor India, Tata Motors, Mahindra & Mahindra, Honda, Audi and BMW, have announced plans to increase prices of their vehicles in January. Effective January 1, 2024, the company plans to hike prices by up to 2 per cent across its model range owing to rising input and material costs, a spokesperson of Volkswagen Passenger Cars India said in a statement. "While the brand continues to absorb most of the input cost increase, however, some impact will have to be passed on to the end consumers," it added. Volkswagen Passenger Cars India sells vehicles ranging from mid-sized sedan Virtus to premium SUV Tiguan priced between Rs 11.48 lakh and Rs 35.17 lakh.

Volkswagen shareholders demand more scrutiny after China plant audit

Volkswagen said on Tuesday that the much-anticipated audit of its China car plant had found no evidence of forced labour

Volkswagen India offers priority check for Michaung flood-damaged vehicles

German automaker Volkswagen India is offering priority comprehensive checks to flood-affected customers in Chennai following the havoc caused by cyclone Michaung over the past two days. The company said necessary guidelines have been issued across dealerships ensuring adequate manpower and availability of spare parts to take up repairs. Volkswagen India said it would also ensure timely repair of flood-related damage found in the priority comprehensive service check of their vehicles, a company release here said on Wednesday. With a 'Customer-First' philosophy, Volkswagen India has prioritised support to those customers who are stranded with complimentary Roadside Assistance, the company added. "Necessary standardised repair guidelines have been issued across dealerships and the company will ensure adequate manpower and availability of spare parts across dealerships to ensure quick service experience," the release said.

Volkswagen-sanctioned audit finds no signs of forced labour at China plant

An audit commissioned by Volkswagen has found no indication of forced labour at its plant in China's Xinjiang region, where Western governments have accused the Chinese government of human rights violations against the Uyghur ethnic minority. The German automaker has come under fire for operating in Xinjiang, a remote western region that borders Central Asia. The US government has blocked imports from Xinjiang unless it can be proven that the products were not made with forced labour. The auditor, Loening Human Rights and Responsible Business, conducted 40 interviews and was able to inspect the factory freely, said Markus Loening, a former German human rights commissioner who founded the consultancy. We could not find any indications or evidence of forced labour among the employees, he said in remarks provided by Volkswagen from a media briefing in Germany on Tuesday. China launched a harsh crackdown in Xinjiang around 2017 in response to a series of bombings, knifings and other .

Volkswagen Taigun, Virtus Sound Edition launched today, all details here

Making a big announcement, Volkswagen India has launched special edition variants of the Virtus sedan and Taigun SUV. The 'Sound Edition' is expected to include cosmetic improvements and new elements

Volkswagen to cut administrative personnel costs by 20% in savings drive

The specific details of the drive at Volkswagen's passenger car brand, announced in June and currently being defined in talks between management and the workers council, are due to be set by December

Skoda Auto Volkswagen India to commence exports to Vietnam from 2024

koda Auto Volkswagen India Pvt Ltd on Tuesday said it will start exports to Vietnam from 2024 as part of its strategy to accelerate export operations in the ASEAN region. The company, which has inaugurated its parts expedition centre (PEC) at the Volkswagen group's headquarters in Chakan, Pune, said 'made-in-India' kits will be shipped from India to Vietnam for final production. The centre is spread over 16,800 square feet and it has an initial capacity of 27,000 car sets annually for Vietnam and has the infrastructure to scale up to 40,000 car sets annually, koda Auto Volkswagen India Pvt Ltd (SAVWIPL) said in a statement. "With the opening of the parts expedition centre, we are building a bridge between India and Vietnam and setting the stage to unleash significant synergies between these two key markets," koda Auto Board Member for Production and Logistics Andreas Dick said. While Vietnam will be the first phase, the PEC is geared to serve several emerging markets in the ASEAN .

VW to offer new features, benefits with Taigun, Virtus this festival season

Volkswagen (VW) will introduce twin electrically adjustable front seats (driver and co-driver) for its midsize SUV Taigun and sedan, Virtus

Production at German VW plants resumes after disruption caused by IT issue

Production at Volkswagen is resuming after a problem with the German automaker's information technology network caused a severe disruption, the company said Thursday. Volkswagen said on Wednesday evening that the IT disruption caused production to halt at its four vehicle manufacturing plants in Germany its Wolfsburg headquarters, Emden, Zwickau and Osnabrueck. It also affected some other facilities, including at subsidiary Audi, it said. The company said Thursday morning that the IT infrastructure problems were resolved during the night and production was resuming, German news agency dpa reported. It said there were no indications of any external cause for the disruption.

Skoda Auto Volkswagen India net profit up 49% in FY23 at Rs 309.5 cr

KODA AUTO Volkswagen India posted a 48.6 per cent rise in its standalone net profit at Rs 309.5 crore in the fiscal ended March 31, 2023 riding on strong revenue growth, according to financial data accessed by business intelligence platform Tofler. The company had posted a net profit of Rs 208.34 crore in the fiscal ended March 31, 2022. Revenue from operations was at Rs 17,041.72 crore in FY23, highest in the last five financial years, according to the data. In its regulatory filing, the company said the rise in revenue was due to increase in sales volumes in the domestic market. This was mainly due to the launch of new models under the India 2.0 project. In FY22, the company's revenue from operations was at Rs 12,410.48 crore; Rs 6,796.52 crore in FY21; Rs 9,300.06 crore in FY20 and Rs 7,062.71 crore in FY19. In terms of net profit, in the last five fiscals the company posted its highest in FY21 at Rs 756.97 crore. It was at Rs 261.39 crore in FY20 and Rs 198.06 crore in FY19.

Volvo to end diesel car production by 2024, to become all-electric carmaker

Sales of diesel models have declined rapidly in Europe since Volkswagen's emission-cheating scandal.

Volkswagen's battery unit PowerCo investor could be big client: CFO

The battery unit's first planned client is Ford, to whom it will deliver cells for vehicles the U.S. carmaker is building in Europe on Volkswagen's electric MEB platform

Mahindra to use Volkswagen's MEB components for EV production in India

Mahindra to invest around Rs 10,000 crore towards its EV subsidiaries over the next 5 years

Volkswagen in 'advanced talks' with Mahindra on MEB platform for EVs

BERLIN (Reuters) - Volkswagen said on Monday that it is in advanced talks with India's Mahindra & Mahindra on the use of key electric components of the German carmaker's open platform for electric vehicles, called MEB.

Volkswagen eyes for 95% localisation of components for Virtus, Taigun

In the second quarter of this year, Volkswagen Passenger Cars India, like others in the industry, encountered supply shortages due to global component issues

Volkswagen takes steps to boost China biz as 1st-half earnings fall by 20%

Volkswagen saw after-tax earnings fall by 20 per cent in the first half of the year, to 8.5 billion euros (USD 9.45 billion), as the automaker tries to engineer a rebound in China. The decline from the same period last year was due in part to a 2.5 billion euro non-cash loss on raw materials hedging in financial markets. Companies use such market strategies to offset risk and insure themselves against rapid changes in the prices of raw materials. Volkswagen said operating earnings, excluding the hedging effect, rose 13 per cent to 13.9 billion. Chief Financial Officer Arno Antlitz said the company achieved solid financial results in the first six months of the year and that with changes in the China business, we will improve the competitive business of the Volkswagen Group even further. The company said its business in Western Europe was strong, given an order book of 1.65 million vehicles, including 200,000 battery-only electric cars, demonstrating stable customer demand. Volksw

Volkswagen's efforts to boost valuation stifled by lack of succession plan

The company plans to run a series of capital market days in coming months for each of its brands, which it hopes will boost a valuation in freefall since mid-2021

Volkswagen launches new trims of Virtus, Taigun with 1.5 ltr TSI EVO engine

Volkswagen Passenger Cars India on Thursday said it has launched new trims of its mid-sized sedan Virtus and Taigun sports utility vehicle. The company has introduced the Virtus with a six-speed manual transmission on the GT Plus variant, priced at Rs 16.89 lakh (ex-showroom). Besides, the automaker said it has introduced two new variants of Taigun -- GT DSG and GT Plus, at an introductory price of Rs 16.79 lakh and Rs 17.77 lakh, respectively (ex-showroom). "With its strong legacy of fun-to-drive, the GT badge was introduced on the Performance Line (1.5l TSI EVO engine) variants of Taigun and Virtus. Today, we are taking a step further and democratizing the GT badge by introducing newer variants for customers to choose from," Volkswagen Passenger Cars India Brand Director Ashish Gupta said in a statement. The new variants of Taigun and Virtus will be available across the 161 sales touchpoints in 121 cities in India, the company said.

Audi's ex-chief pleads guilty in automaker's diesel emissions scandal

The former head of Volkswagen's luxury division Audi pleaded guilty Tuesday to charges tied to the automaker's diesel emissions scandal, becoming the highest-ranking executive convicted over cars that cheated on emissions tests with the help of illegal software. Rupert Stadler answered yes to a statement read in court by his attorney that said Stadler admitted wrongdoing and regret for his failure to keep rigged cars off the market even after the scandal had become public knowledge, the dpa news agency reported. Stadler entered the plea under an agreement with the judge and prosecutors that provides probation instead of jail time and orders him to pay a 1.1 million euro ($1.2 million) fine in return for a thorough admission of guilt. Three lower-ranking managers also have taken plea deals in the 2 1/2-year-long trial in Munich. Stadler had been charged with fraud and false certification by prosecutors who said he let cars with rigged software be sold after September 2015. That's w

Global connected car sales grew 12% in 2022, Volkswagen leads: Report

Volkswagen Group led in connected car sales, closely followed by Toyota Group, according to Counterpoint Research