Volkswagen

Volkswagen may complete takeover of Porsche this year

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According to news weekly Der Spiegel and AFP, the Europe’s biggest automaker Volkswagen, which owns 49.9 percent of Porsche, may buy the 50.1-percent stake in the manufacturer of the iconic 911 car for 3.9 billion euros ($5.0 billion) in 2012. Porsche has built up massive debts as it looked to seal a tie-up with VW … Read more

Luxury-car sales continued to surge

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Luxury-Car Sales Defy Crisis Luxury-car sales continued to surge in September despite Europe’s deepening debt crisis and slowing economic growth in several major markets, making it likely that BMW AG, Daimler AG and Volkswagen AG’s Audi brand will report solid third-quarter earnings growth. BMW expects to hit its 2011 sales target of more than 1.6 … Read more