Daniel Schwarz News
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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.
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Scania AB , the Swedish truckmaker controlled by Volkswagen AG , said it’s considering a merger with MAN SE of Germany to create Europe’s largest manufacturer of commercial vehicles.
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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.
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Audi AG trimmed Bayerische Motoren Werke AG’s lead in 2012 luxury-car sales to just 2,110 vehicles in August, threatening BMW’s seven-year hold on the top position in premium auto deliveries.
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Porsche SE ’s car-making division tripled profit in its shortened 2010 fiscal year as deliveries of the Cayenne sport-utility vehicle and Panamera sedan surged.
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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.
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Volkswagen AG, Europe’s largest carmaker, stood by its accusation that Suzuki Motor Corp. breached a partnership agreement, rejecting the Japanese company’s calls to restore its “honor.”
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Ford Motor Co. led the steepest decline in European car sales in six months as the region’s economic woes hurt demand in Germany.
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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.
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Volkswagen AG will probably become the world’s biggest carmaker this year, vaulting past Toyota Motor Corp. and General Motors Co. on gains in emerging markets.
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