Earlier this year, news broke that Volkswagen had plans to to do a full takeover of Porsche, which VW owned 49.9-percent of. But now the former CFO of Porsche, Holger Haerter, is one of three people being charged with fraud in Germany over Porsche’s intent to supposedly acquire VW. According to investors, Porsche had denied… Continue Reading...
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Despite claims by Fiat that its not letting go of Alfa Romeo, Volkswagen is continuing to put pressure on the powers-that-be to acquire the premium brand. Most recently VW chairman Ferdinand Piech commented that under the German automaker’s ownership sales of the Italian brand would quadruple. Now comes word that Volkswagen already has a complete… Continue Reading...
If Fiat ever sells Alfa Romeo, says VW chairman Ferdinand Piech, Volkswagen could take the underperforming brand and quadruple its sales within five years. Ambitious? Fiat CEO Sergio Marchionne certainly doesn’t think so. “As long as I am CEO of Chrysler and Fiat,” he said, “Mr. Piech will never have Alfa Romeo.” Marchionne suggested to… Continue Reading...
After repeatedly voicing his interest in purchasing the Alfa Romeo brand from its Fiat parent company, Volkswagen Chairman Ferdinand Piech today received a decisive answer. It’s just not the answer he was looking for. “As long as I am CEO of Chrysler and Fiat, Mr. Piech will never have Alfa Romeo. It’s hands-off,” said Fiat… Continue Reading...
Automotive News is reporting that Volkswagen is hoping to buy a stake in Ferrari, with the Italian sports car builder being of particular interest to Volkswagen chairman Ferdinand Piech. While Volkswagen already has Lamborghini, Bugatti and Porsche in its stable, Piech is apparently eyeing a chance to buy a stake in the Italian supercar maker…. Continue Reading...
Legendary Italian design firm Italdesign Giugiaro will sell a 90 percent stake to the Volkswagen Group, as the German firm looks to consolidate even more power in the automotive world. “The Volkswagen Group will be continuing its model initiative over the coming years and will benefit from the capacity and competence of Italdesign,” said Volkswagen… Continue Reading...
Volkswagen patriarch Ferdinand Piech is no stranger to grandiose projects, having overseen the Volkswagen Phaeton uber-luxury sedan, as well as the Bugatti Veyron hypercar. While Jeremy Clarkson of Top Gear lamented that the worst part about driving a Veyron is that after it was over, he’d never be able to experience it again, it looks… Continue Reading...
Porsche’s new owners at Volkswagen are aiming to make some big changes at the German sport car maker, including eliminating any models that aren’t sports cars. That’s right, both the Cayenne SUV and Panamera sedan are reportedly on the chopping block, according to a recent report in the U.K.’s CAR magazine. In an article an… Continue Reading...
Volkswagen is reportedly looking at purchasing a 10 percent stake in Suzuki as it looks to create a solid partnership with the Japanese automaker. Te reason for VW’s interest is Suzuki’s expertise in mini cars – like the Suzuki Alto, pictured above. The Alto is currently the best-selling vehicle in India and Volkswagen wants to… Continue Reading...