Frank Schwope News
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Audi AG, the world’s second-largest maker of luxury vehicles, unveiled two sedan versions of the compact A3 designed to woo American and Chinese buyers seeking a small car with more trunk space.
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Porsche SE said hedge funds that accused the German carmaker of concealing a plan to corner the market in Volkswagen AG shares agreed not to appeal a New York court ruling dismissing the case.
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Volkswagen AG, Europe’s largest carmaker, will offer to buy out the rest of MAN SE’s shareholders to take full control of the German truckmaker.
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Volkswagen AG, Europe’s biggest car manufacturer, is likely to get European Union regulatory clearance by next week for acquiring German truckmaker MAN SE, a person familiar with the matter said.
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Porsche SE’s carmaking unit, which is 49.9 percent-owned by Volkswagen AG, said profit jumped 22 percent last year as deliveries of the Cayenne sport-utility vehicle surged.
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Porsche SE , the maker of the 911 sports car, forecast its first profit in three years in 2011 on sales of the Panamera sedan and as costs linked to a merger with Volkswagen AG decline.
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Volkswagen AG, Europe’s largest carmaker, reported slowing earnings growth as the impact of the sovereign debt crisis weighed on demand in its home region.
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Continental AG, Europe’s second- largest auto-parts maker, returned to Germany’s benchmark DAX index after a 45-month absence in a sign of its recovery from debt woes that invited a takeover bid from Schaeffler AG.
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Fiat SpA Chief Executive Officer Sergio Marchionne approached PSA Peugeot Citroen and General Motors Co. earlier this month about creating a pan-European combination to leapfrog Volkswagen AG as the region’s largest automaker, three people familiar with the matter said.
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As Volkswagen AG plots a course toward its goal of becoming the world’s biggest automaker by 2018, it’s increasingly clear that the path to global dominance runs through places like Lanzhou, in western China.
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