Volkswagen AG, Europe’s biggest automaker, reported first-quarter profit that met analysts’ estimates and retained its 2013 earnings target, providing a relief for investors after Daimler AG lowered its forecast.
Daimler AG extended Chief Executive Officer Dieter Zetsche’s term and named manufacturing manager Wolfgang Bernhard to run the truck unit in a possible step to the top job at the world’s third-biggest luxury-car maker.
Volkswagen AG, Europe’s biggest carmaker, plans to build its best-selling Golf hatchback in Mexico in a push for market share in North America, where it trails competitors. The preferred shares hit a 20-year high.
Matthias Mueller , the new Porsche AG chief executive officer tasked with reviving the luxury-car maker’s vehicle lineup, faces his first test with the introduction of a new line of smaller Boxster roadsters.