Volkswagen pulls truck unit IPO in setback to CEO's revamp

Business Mar 14, 2019

Volkswagen pulls truck unit IPO in setback to CEO's revamp

Volkswagen AG canceled plans to sell a share of its Traton SE division due to weak market conditions, dealing a setback to the automaker's plan to generate fresh funds for the heavy-truck unit's expansion outside Europe. "We regret that we have to refrain from a ...

Business Dec 8, 2017

German prosecutors probe BMW diesel cheating claims

German prosecutors on Thursday said they have opened a preliminary inquiry into allegations that luxury carmaker BMW used a defeat device to cheat diesel emissions tests in at least one of its models. It comes after environmental group DUH this week said tests carried out ...

Lamborghini chases new customers with first SUV

Business Dec 5, 2017

Lamborghini chases new customers with first SUV

Lamborghini unveiled its first sport-utility vehicle (SUV) on Monday, as the Volkswagen-owned luxury sports car brand strives to grab a share of a fast-growing market. Produced at its Sant'Agata Bolognese headquarters in Italy, Lamborghini believes the model could double its annual sales volumes, which stood ...