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Added on the 25/03/2019 08:31:46 - Copyright : Auto Moto EN
More dieselgate fallout for VW as Australia's consumer watchdog says it's suing the world's No.2 carmaker for intentionally selling more than 57,000 vehicles with software cheats. Hayley Platt reports.
Volkswagen is the world's largest carmaker. Business Insider reports the company returned to profit in the third quarter. This is thanks to surging demand for luxury cars such as Porsche and Audi in western Europe and China. VW's chief financial officer, Frank Witter, warned that "the coronavirus remains a central problem." VW said it's full-year 2020 profit would be "severely lower" than in 2019. The profits would still be in "positive territory" after a second-quarter loss of 1.7 billion euros ($1.99 billion). A series of cost-cutting measures launched earlier this year helped VW's performance during the third quarter.
The first major German court case against Volkswagen over the "dieselgate" scandal that has shaken up the car industry gets underway, as investors pursue the world's largest automaker for billions in compensation. IMAGES
If you're a baby boomer, chances are that you remember those far out times when love and peace were the words on everyone's tonge and the Volkswagen hippie van was the vehicle of choice. Well those days of nostalgia no longer have to be relegated to the distant past - Volkswagen has remade the iconic Type 2 Bus and shown it off at the North American International Auto Show in Detroit on Monday . It's called BUZZ ID, and it's the first driverless all-electric micro bus that features front and rear wheel drive. ID BUZZ can travel up to 372 miles on a single charge. When the van is running in self-driving mode, the front seats turn around and the steering wheel retracts, creating an interior space for up to eight people. ID BUZZ is expected to hit the market in 2020.
One of Volkswagen's biggest shareholders confirms the carmaker will meet on Friday to discuss restructuring, sources saying that an extraordinary meeting has become necessary because of the sheer number of issues it faces. Hayley Platt reports.
Volkswagen has raised its guidance for group revenue this year and is targeting slightly higher profitability after posting higher autos sales in the third quarter. As Hayley platt reports, Europe's largest automaker expects group revenue to match last year's 213 billion euros after predicting in July that revenue would fall by as much as 5 percent this year.
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