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voda 1 februari 2017 16:14

0

Amerikaanse industrie groeit door - Markit

Inkoopmanagersindex in januari op 55,0.

(ABM FN-Dow Jones) De bedrijvigheid in de Amerikaanse industrie is in januari harder gestegen. Dit bleek woensdag uit definitieve cijfers van Markit Economics.

De inkoopmanagersindex steeg van 54,3 in december naar 55,0 in januari. Dit markeert het hoogste niveau sinds maart 2015.

Een indexstand groter dan 50 wijst op groei van de industrie, terwijl minder dan 50 krimp betekent.

Door: ABM Financial News.

info@abmfn.nl

Redactie: +31(0)20 26 28 999

Copyright ABM Financial News. All rights reserved

(END) Dow Jones Newswires

voda 14 maart 2017 11:50

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Volkswagen krabbelt op na dieselschandaal

Gepubliceerd op 14 mrt 2017 om 10:45 | Views: 520

WOLFSBURG (AFN/BLOOMBERG) - Volkswagen lijkt het omvangrijke dieselschandaal goeddeels achter zich te hebben gelaten. De Duitse automaker zag de winstgevendheid in het vierde kwartaal stevig verbeteren. Daarbij plukte het concern de vruchten van de reorganisatie die eerder in gang werd gezet. Volgens topman Matthias Müller heeft Volkswagen de boel weer op de rit, zo zei hij in een toelichting.

Volkswagen zette over de laatste maanden van 2016 een positief bedrijfsresultaat van 625 miljoen euro in de boeken. Een jaar eerder was dit nog een verlies van 127 miljoen euro. De automaker sprak van recordverkopen en fors gestegen winstmarges.

In totaal leverde het concern, waarbij ook onder meer Audi, Skoda en Seat horen, afgelopen jaar 10,3 miljoen auto's af aan klanten. De omzet kwam daarbij uit op 217,3 miljard euro. Volkswagen bereikte onlangs een akkoord over het schrappen van 30.000 banen. In totaal worden de kosten van de automaker met 3,7 miljard euro omlaag gebracht.

Het is voor Volkswagen van het grootste belang de winstgevendheid op te schroeven, omdat het dieselschandaal er stevig inhakt. In totaal moet het bedrijf voor 22,6 miljard euro bloeden door boetes, reparatiekosten en het terugkopen van auto's.

Voor dit jaar voorziet Volkswagen een operationele winstmarge van 6 tot 7 procent. Het bedrijf verwacht iets meer auto's te verkopen dan in 2016. Verder zitten er verschillende elektrisch aangedreven modellen in de pijplijn bij het concern. Müller sprak daarbij van ,,ambitieuze, maar haalbare doelen" voor de komende jaren.

voda 17 maart 2017 17:51

0

Voormalig bestuurder Volkswagen wil deel belang Porsche verkopen

Belang geschat op circa 15 procent.

(ABM FN-Dow Jones) Voormalig bestuurslid Ferdinand Piech van Volkswagen is in gesprek met Porsche om een groot deel van zijn aandeel in Porsche Automobil Holding te verkopen. Dit meldde Porsche vrijdag.

Mocht het tot een transactie komen, dan zal dit invloed hebben op de aandeelhoudersstructuur van Volkswagen, omdat Porsche een belang van 52,2 procent in de Duitse autobouwer heeft.

Porsche maakte niet bekend hoe groot het belang van Piech in Porsche is. Volgens de Duitse krant Spiegel wordt het belang geschat op circa vijftien procent.

Het aandeel Volkswagen Group koerste vrijdag 1,8 procent lager op 140,60 euro.

Door: ABM Financial News.

info@abmfn.nl

Redactie: +31(0)20 26 28 999

Copyright ABM Financial News. All rights reserved

(END) Dow Jones Newswires

voda 22 maart 2017 12:20

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Volkswagen trucks division targets strong profitability gain in 2017

Volkswagen's truck division aims to significantly increase its profitability this year as deepening cooperation between the MAN and Scania brands and improving overseas markets spur business.

Volkswagen which launched a new truck & bus division in 2015 to challenge global rivals Daimler and Volvo is targeting a long-term operating margin target of 9%, up from 6.1% last year.

chief executive Andreas Renschler told journalists, referring to improving markets in Western Europe, Russia and China said that "We are not striving to become a volume champion, we want to be the most profitable ones.”

But finance chief Matthias Gruendler made clear a significant improvement in financial results requires a rebound in the key Brazilian market where the VW division commands a 37% share of the country's commercial-vehicles market.

Mr Gruendler said that overall truck and bus sales in Brazil have been falling for four years but demand is expected to rebound slightly in the second half of the year amid the improving economy with a chance for stronger growth in 2018.

Chief executive Mr Andreas Renschler said that "Brazil has always been an important market and is characterized by a high degree of cyclicality.”

Under Mr Renschler, who ran Daimler Trucks before joining VW in February 2015, Europe's largest automotive group has also been seeking to expand its footprint in international truck markets.

Last year, VW announced a stake purchase in U.S. truck maker Navistar International Corp which may earn the German group access to the vast North American truck market, and is also in talks about finding a new partner in China.

Mr Renschler said that "We are currently in discussions about different opportunities. All options are open" including a possible increase in MAN's stake in China's Sinotruk and finding a new partner.”

Source : Economic Times

voda 22 maart 2017 12:42

0

Volkswagen Group global sales decline marginally in February 2017
Published on Wed, 22 Mar 2017

Volkswagen Group in a media released announced that in the first two months of the 2017, the company overall delivered 1.5 million vehicles (including all brands) to its customers worldwide. In February, the Volkswagen Group sold over 686,900 vehicles globally with its sales declining marginally by 0.9%. The company sold a total of 693,200 units in February 2016.

Mr Fred Kappler Head of Group Sales of Volkswagen Aktiengesellschaft, summarizing the figures for February said that "February shows the different development of markets in the various regions. We are experiencing a tailwind in Central and Eastern Europe as well as North America and were able to increase deliveries by the Group, in some cases significantly, in these regions. On the other hand, deliveries in Germany and the Asia-Pacific region remained below the previous year's level. However, we expect that we can once again look forward to healthy growth in China this year. Together with our Group brands, we are working on qualitative growth.”

In Europe, the Group handed 620,100 vehicles over to its customers in the first two months of the year (+2.6 percent) including 307,200 in February. In Central and Eastern Europe, Group deliveries in February grew by 11.6 percent to 55,500 vehicles. In Russia, the Group delivered 13,100 vehicles, an increase of 6.3%. In February, 251,700 vehicles were handed over to customers in Western Europe, including 97,400 units in the home market of Germany.

In North America, the Group delivered 67,300 vehicles in February, achieving growth of 8.0%. Of this figure, 42,800 deliveries were recorded in the USA a rise of 13.3%. In South America, the Group delivered 35,400 vehicles (+4.1%).

Deliveries in the Asia-Pacific region in February reached 248,400 vehicles. In total, 616,500 new vehicles were handed over to customers in the region in the first two months of the year. This figure included 223,000 new vehicles delivered to customers in China in February, corresponding to a slight fall of 1.9%.

Global sales of Volkswagen Passenger cars declined by 2.6%, Audi's sales were down by 1.1%. However Skoda, SEAT and Porsche continued to grow in February 2017.

Source : Economic Times

voda 18 april 2017 16:31

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Meevallend resultaat voor Volkswagen

Meevaller te danken aan merk Volkswagen.

(ABM FN-Dow Jones) Volkswagen heeft dankzij de verkoop van meer Volkswagens een hoger resultaat behaald in de eerste drie maanden van dit jaar. Dit bleek dinsdag uit de voorlopige resultaten van de Duitse fabrikant van onder meer Audi en Skoda.

Volkswagen rapporteerde een operationeel resultaat van ongeveer 4,4 miljard euro en zei dat dit "significant" meer is dan de financiële markten hadden verwacht. Dit is vooral omdat er meer auto's van het merk Volkswagen werden verkocht. Dit merk was in het eerste kwartaal goed voor een bedrijfsresultaat van 0,9 miljard euro. Volgens de Duitsers werden de nieuwe modellen van Volkswagen goed ontvangen, met name de Tiguan. Bovendien waren de prestaties in West-Europa sterk en hielpen lagere vaste kosten ook mee.

Wat betreft heel 2017 blijft Volkswagen rekenen op een operationeel rendement op de omzet tussen de 6,0 en 7,0 procent.

Op woensdag drie mei maakt Volkswagen de volledige resultaten over het eerste kwartaal bekend.

Op een rode Duitse beurs steeg het aandeel Volkswagen met 3,2 procent.

Door: ABM Financial News.

info@abmfn.nl

Redactie: +31(0)20 26 28 999

Copyright ABM Financial News. All rights reserved

(END) Dow Jones Newswires

voda 3 mei 2017 16:31

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Resultaten Volkswagen conform eerdere raming

Meevaller mede te danken aan merk Volkswagen.

(ABM FN-Dow Jones) Volkswagen heeft conform een eerdere raming hogere resultaten behaald in de eerste drie maanden van dit jaar. Dit bleek woensdag uit de definitieve resultaten van de Duitse fabrikant van onder meer Audi en Skoda.

In het afgelopen kwartaal steeg de omzet met 10,3 procent naar 56,2 miljard euro. Volkswagen rapporteerde een 27 procent hoger operationeel resultaat van ongeveer 4,4 miljard euro en zei dat dit "significant" meer was dan de financiële markten hadden verwacht. Dit is vooral omdat er meer auto's van het merk Volkswagen werden verkocht. De winsten uit dit merk stegen dan ook naar 0,9 miljard euro. Ook volume- en mix-gerelateerde factoren en positieve wisselkoerseffecten speelden het bedrijf in de kaart. Bovendien wist Volkswagen de kosten te optimaliseren.

Onder de streep restte een nettowinst van 3,4 miljard euro, hetgeen bijna 44 procent hoger was dan de 2,4 miljard euro uit dezelfde periode een jaar eerder.

Wat betreft heel 2017 blijft Volkswagen rekenen op een operationeel rendement op de omzet tussen de 6,0 en 7,0 procent. De omzet zal tot 4 procent op jaarbasis stijgen.

Op een rode Duitse beurs steeg het aandeel Volkswagen met 3,2 procent.

Door: ABM Financial News.

info@abmfn.nl

Redactie: +31(0)20 26 28 999

Copyright ABM Financial News. All rights reserved

(END) Dow Jones Newswires

voda 5 mei 2017 15:55

0

Volkswagen verwacht beter 2017

Gepubliceerd op 5 mei 2017 om 11:03 | Views: 597

Volkswagen 15:14
146,70 -0,68 (-0,46%)

Volkswagen AG Vz 04 mei
144,04 +0,64 (+0,45%)

WOLFSBURG (AFN/BLOOMBERG) - Volkswagen verwacht dat het in het boekjaar 2017 financieel ,,aanmerkelijk'' beter gaat met het merk. Dat maakte de autofabrikant vrijdag bekend. De betere resultaten zijn het gevolg van de maatregelen die VW nam na het dieselschandaal.

De omzet van het hoofdmerk neemt dit jaar naar verwachting tot wel 10 procent toe. De operationele winstmarge moet de komende jaren geleidelijk oplopen, van tegen de 3,5 procent dit jaar naar 6 procent in 2025.

Om de groei aan te jagen brengt Volkswagen tot en met 2018 zeven nieuwe suv's op de markt. In China komt de automaker met negen nieuwe modellen. In de Verenigde Staten verwacht VW de verliezen dit jaar ,,significant'' terug te brengen. In 2020 mag op die markt geen verlies meer worden geleden.

Volkswagen maakt zich nog op voor forse betalingen als gevolg van het sjoemeldieselschandaal dat in september 2015 losbarstte. Toen bleek dat VW-auto's een testsituatie konden herkennen en dan de uitstoot van de motor konden beperken. Bij gewoon gebruik waren de auto's dan ook veel vervuilender dan de regels voorschreven. VW heeft 22,6 miljard euro's klaarstaan voor boetes, terugkoopacties en reparaties van de betrokken voertuigen.

voda 26 mei 2017 15:14

0

Volkswagen used computer code to cheat emission tests - Report

Press Trust Of India reported that scientists have uncovered the mechanism inside cars that allowed German automaker Volkswagen to circumvent US and European emission tests using computer codes. Researchers said that the mechanism was used by Volkswagen over at least six years before the US Environmental Protection Agency put the company on notice in 2015 for violating the Clean Air Act.

During a year-long investigation, researchers led by Kirill Levchenko from the University of California San Diego in the US found the code that allowed a car's onboard computer to determine that the vehicle was undergoing an emissions test.

The computer then activated the car's emission-curbing systems, reducing the amount of pollutants emitted. Once the computer determined that the test was over, these systems were deactivated.

When the emissions curbing system was not running, cars emitted up to 40 times the amount of nitrogen oxides allowed under EPA regulations.

Mr Levchenko said that "We were able to find the smoking gun. We found the system and how it was used.”

Scientists obtained copies of the code running on Volkswagen onboard computers from the company's own maintenance website and from forums run by car enthusiasts.

The code was running on a wide range of models, including the Jetta, Golf and Passat, as well as Audi's A and Q series.

Mr Levchenko said that "We found evidence of the fraud right there in public view.”

During emissions standards tests, cars are placed on a chassis equipped with a dynamometer, which measures the power output of the engine.

The vehicle follows a precisely defined speed profile that tries to mimic real driving on an urban route with frequent stops.

Source : Press Trust Of India

voda 6 juni 2017 16:57

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Audi recalls 24,000 vehicles in Europe

Economic Times reported that after an comprehensive investigation of transmission software in various model versions, Audi has detected anomalies in the NOx emissions in certain driving conditions of approximately 24,000 cars of the A7 and A8 model series and the company will be recalling the vehicles,.

The cars NOx emissions exceed the limit by a factor of up to two but will be corrected by new transmission software.

Audi said in a press statement that "For several months now, Audi has been systematically investigating the emissions of a large number of engine-transmission combinations in certain driving conditions."

The statement added that "The latest analyses of A7 and A8 automobiles of model years 2010 through 2013 with V6 and V8 engines certified according to the EU5 emission standard have revealed that in certain situations, NOx emissions are between 20 and 100 percent above the limit."

Audi claims that this is due to engine speed is unfavorably influenced by the transmission software, which can have a negative impact on the engine’s emissions. Audi has agreed with Germany’s Federal Motor Transport Authority that it will actively approach the relevant customers and recall the affected cars. 14,000 of those 24,000 cars are registered in Germany.

The recall is likely to start in July 2017. As only a software update will be installed, the time required for the work on the cars will be about 30 minutes.

Source : Economic Times

voda 6 juni 2017 16:59

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German watchdog probes Porsche over emissions software: Wirtschaftswoche

Reuters reported that Germany's transportation watchdog is investigating whether Volkswagen's Porsche brand is using illicit software to cheat on emissions tests. Weekly magazine Wirtschaftswoche reported that the KBA motor vehicle authority is examining whether Porsche is using steering wheel movements to detect whether its cars are on the test bed.

Germany's transport ministry on Thursday had accused VW luxury division Audi of using illicit software on some A7 and A8 models. The vehicles in question emit excess nitrogen oxides when the steering wheel is turned more than 15 degrees.

Porsche said by email that "We can confirm for all Porsche models: We are not using steering movements for the sake of detecting a test bench driving cycle and reacting to it.”

Source : Reuters

voda 8 juni 2017 17:06

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Almost 9,300 Volkswagen staff agree to early retirement
Published on Thu, 08 Jun 2017

Reuters reported that close to 9,300 staff of Volkswagen had agreed to an early retirement scheme, helping Germany's largest car maker to bring down costs.

Karlheinz Blessing VW' board member for Human Resources said that "We are rapidly approaching our target of 9,300 contracts signed. Employees who wish to take partial early retirement must make their decision by July 31.”

The scheme is aimed mainly at people born between 1955 and 1960.

Volkswagen has guaranteed that there will be no forced redundancies as part of its "Transform 2025+" plan to cut the workforce and improve productivity by 25% until 2025.

Source : Reuters

voda 9 juni 2017 17:01

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Volkswagen launches EUR 3.5 billion dual-tranche hybrid bond

Reuters reported that Volkswagen has set final terms for a 3.5 billion dual tranche hybrid bond. The perpetual non-call 5.5 year bond, sized at 1.5 billion, will price at a yield of 2.75% and a 2 billion perpetual non-call 10 year note will come at 3.875%. Initial price talk was 3% area and 4%-4.125% respectively.

Pre reconciled orders have surpassed 11bn, with a slight skew to the 10-year. The deal is expected to price later today.

Bank of America Merrill Lynch, CA-CIB, Goldman Sachs,HSBC and MUFG are lead managers.

The bonds are expected to be rated Baa2 by Moody's and BBB-by S&P.

Source : Reuters

voda 12 juni 2017 16:57

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Next generation Audi A8 sedan to get electrified powertrain

German auto-maker Audi is advancing electrification on a broad front on its next generation A8 sedan. The company claims that new Audi A8 will feature an electrified powertrain as standard. The traditional combustion engines will be equipped with mild hybrid technology.

Additionaly, Audi A8 will feature a 48-volt electrical system as the primary electrical system.

The mild hybrid drive comprises two main components: first, the water cooled 48 volt belt alternator starter which complements the conventional pinion starter. The latter is only required for cold starts in the new Audi A8, the company said in a press statement. Then there is the lithium-ion battery in the luggage compartment to act as the energy accumulator for the MHEV (mild hybrid electric vehicle) with a 10 Ah charge carrier capacity and a 48-volt system.

Audi claims that the fourth-generation A8 can enter the noiseless coasting mode within the speed range of 55 to 160 km/h. The car can then coast with zero emissions for up to 40 seconds with the engine off altogether. In addition, start/stop operation is actually active from 22 km/h .

The power train management uses this equipment to decide whether the A8 is in coasting or recuperation mode. It recovers energy not just from brake applications or when coasting; the Audi A8 also does so if it is in danger of getting too close to a preceding vehicle while coasting. All these measures are beneficial not just to comfort, but also at the gas station: In the A8, the mild hybrid drive reduces fuel consumption during customer operation by up to 0.7 liters per 100 kilometers.

Source : Economic Times

Bijlage:

voda 13 juni 2017 16:04

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Stichting Volkswagen Car Claim start juridische procedure vanwege dieselgate

Stichting sluit zich aan bij andere Europese claimorganisaties.

(ABM FN-Dow Jones) Stichting Volkswagen Car Claim gaat namens ongeveer 180.000 Nederlandse autobezitters een juridische procedure voorbereiden tegen Volkswagen, toeleverancier Bosch en de Nederlandse verkopers van Volkswagen in verband met 'dieselgate', het sjoemelprogramma van Volkswagen voor het manipuleren van uitstootgegevens van motoren van Volkswagens. Dit maakte de stichting dinsdag bekend.

Via de webpagina van de stichting kunnen gedupeerde Nederlandse autobezitters zich kosteloos aanmelden. De Stichting zal bovendien de samenwerking met andere initiatieven in Europa uitbreiden, met als streven een Europese oplossing te bereiken voor alle gedupeerde autobezitters.

"Vanaf de oprichting in 2015 heeft de stichting zich ingespannen om samen met Volkswagen en Bosch tot een passende oplossing voor de gedupeerde autobezitters te komen, maar tot dusverre helaas zonder resultaat. Wij zien nu geen andere mogelijkheid dan alle getroffen autobezitters te mobiliseren om Volkswagen, Bosch en de lokale handelaren te bewegen hun verantwoordelijkheid te nemen en te komen met een redelijke oplossing", zei bestuurder Guido van Woerkom, voormalig hoofddirecteur van ANWB, in een toelichting.

De stichting werkt samen met vergelijkbare consumentenorganisaties in Duitsland, Oostenrijk en Zwitserland en het Britse advocatenkantoor Harcus Sinclair, dat meer dan 41.000 Britse auto-eigenaren vertegenwoordigt. De stichting staat daarnaast in contact met verschillende organisaties in Spanje, Frankrijk, Italië, Polen, Tsjechië en Scandinavië en streeft daarbij na het collectief van gecoördineerde juridische acties in Europa verder uit te breiden.

Een voor alle partijen redelijke oplossing wordt eveneens bepleit door het Europees Parlement en de Europese Commissie, meldde de stichting dinsdag. Zij onderzoekt samenwerkingsmogelijkheden met milieu- en gezondheidsorganisaties, die eveneens in actie komen tegen Volkswagen.

Door: ABM Financial News.

info@abmfn.nl

Redactie: +31(0)20 26 28 999

Copyright ABM Financial News. All rights reserved

(END) Dow Jones Newswires

voda 26 juni 2017 16:47

0

Volkswagen taps Ultimaker for customized tool production using 3-D metal printing

Netherlands-based open-source 3-D printer manufacturer Ultimaker, with US offices in Cambridge, Mass has announced that Volkswagen Autoeuropa, Portugal, is using its printers to produce a variety of custom tools for auto manufacturing.

With a set of Ultimaker 3 and Ultimaker 2+ printers, engineers and line technicians no longer need to rely on external vendors, instead designing and printing gauges, jigs, and fixtures on-demand, reducing tool development time by 95 percent and saving more than 90% in production costs.

Mr Luis Pascoa of Volkswagen Autoeuropa said that "Since we have integrated … 3-D printing technology into our process, 93 percent of what we previously sourced externally is produced in-house. In addition to the time and cost savings we realize, the tools we output are more complex and ergonomic and, ultimately, far more useful in our day-to-day operations because they are tailored to our needs."

The manufacturing plant, which produces 100,000 cars per year and employs 4,000 people, designed and 3-D printed 1,000 parts last year and achieved a 100 percent ROI within two months. The automaker saved USD 160,000 in 2016 and estimates that savings will increase to USD 200,000 in 2017.

Using 3-D printing, the automaker can produce tools with complex designs and geometries, such as cavities, undercuts, and overhangs. Making a revision to or enhancing the tool is a matter of tweaking the CAD file and reprinting, giving designers and engineers the ability to iterate on-demand.

Source : The Fabricator

Bijlage:

voda 28 juni 2017 17:24

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Berlin demands costly German recall of 12 million diesel cars - Report

Reuters quoted people familiar with the talks as saying that Germany's Transport Ministry is in talks with car manufacturers about updating the engine management software of up to 12 million diesel vehicles. Government sources said that the cost of updating cars could amount to as much as EUR 1.5 billion to 2.5 billion (USD 1.7-2.8 billion), and the ministry is demanding that vehicles with engines conforming to the euro-4, euro-5 and euro-6 standards be part of the recall.

The German government has demanded that the auto industry shoulder the costs of the update and is pushing for a solution to be presented before German elections on Sept. 24.

Sources said that the ministry is in talks with German auto industry associations VDA and VDIK as well as representatives from local governments to try and cut nitrogen oxide pollution by about 25%.

The talks come amid growing opposition to diesel in the wake of an emissions cheating scandal at Volkswagen. Several European cities including Stuttgart and Munich have considered banning some diesel vehicles because of emissions of nitrogen oxides, which are blamed for causing respiratory disease.

Source : Reuters

voda 4 juli 2017 16:23

0

Volkswagen gaat weer auto's in Iran verkopen

Gepubliceerd op 4 jul 2017 om 14:07 | Views: 468

Volkswagen 15:38
138,48 +0,94 (+0,68%)

Volkswagen AG Vz 03 jul
135,53 +2,19 (+1,64%)

WOLFSBURG (AFN/DPA/BLOOMBERG) - Het Duitse automerk Volkswagen keert na zeventien jaar terug naar Iran om daar auto's te gaan verkopen. Het bedrijf heeft een overeenkomst getekend met een lokale partner om Volkswagens te importeren in Iran.

Volkswagen wil in augustus beginnen met de verkoop van auto's van de types Tiguan en Passat via dealers in de regio rond hoofdstad Teheran. Vorig jaar maakte het Franse PSA Peugeot Citroën al bekend zijn fabriek in Iran te gaan moderniseren. Later volgde Renault met de aankondiging een nieuwe fabriek te gaan bouwen in Iran.

Autobedrijven zien Iran als een lucratieve groeimarkt vanwege de circa 80 miljoen inwoners. De Iraanse overheid denkt dat op termijn jaarlijks 3 miljoen nieuwe auto's verkocht kunnen worden in het land.

Steeds meer westerse bedrijven zoeken toenadering tot Iran na het wegvallen van een groot deel van de sancties tegen het land. Maandag tekende het Franse olieconcern Total nog een grote gasdeal met Iran.

voda 12 juli 2017 16:32

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German prosecutor investigating employees at VW Porsche plant

Reuters reported that Stuttgart prosecutor's office employees at German sports car maker Porsche AG and a US based subsidiary were being investigated for suspected fraud and false advertising related to diesel emissions. The probe is the latest twist in a sweeping investigation of automakers and their emissions after Volkswagen, which owns the Audi, VW and Porsche brands, admitted systematic cheating of diesel engine tests in 2015.

In a statement, Stuttgart prosecutor Jan Holzner said there were grounds to suspect potential fraud and false advertising by Porsche employees, while declining to elaborate given the ongoing nature of the probe.

Porsche said it was fully cooperating with authorities and had proactively sought contact with prosecutors even before a formal probe was launched.

Illegal software has been found in VW, Audi and Porsche cars equipped with diesel engines.

Some Porsche models are equipped with 3 litre diesel engines supplied by Audi. Prosecutors in Munich are separately investigating Audi about its role in designing the 3 litre diesel engine.

Last week prosecutors arrested Giovanni Pamio, an Audi employee, on suspicion of fraud and false advertising. Pamio, who is in custody, is being sought by the US Justice Department for his alleged role directing Audi employees to design software to cheat US emissions tests.

Source : Reuters

voda 20 juli 2017 19:58

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Porsche Stuttgart plant to build electric cars

Economic Times reported that Porsche is spending a billion euros (USD 1.16 billion) to overhaul its main Stuttgart plant and build the brand's first battery-only model, the four-door Mission E saloon which is due on the market in 2019. It is the first German carmaker to say in public that it could discontinue diesel.

Mr Oliver Blume CEO said that "Of course we are looking into this issue. We have not made a decision on it." He said that whether diesel has a future at Porsche will be decided by the end of the decade, as part of an overall engine strategy, adding that the brand will offer a mix of combustion engines, plug-in hybrid vehicles and purely battery-powered cars over the next 10 to 15 years.

German prosecutors last month started probing Porsche staff for their role in designing illicit engine-control software while regulators examined whether the Porsche Cayenne SUV was fitted with such a device.

Mr Blume said that Porsche and Audi, together accounting for 60 percent of VW group profit, are targeting "significant savings" in development and material costs for their electric-car programmes by sharing a new platform code named PPE.

Mr Blume said that the new architecture will allow both brands to save money by sharing components and modules, helping Porsche with a goal to keep its return on sales at around 15% a year, adding that further shared platforms are conceivable.

Source : Economic Times

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