Tag #Volkswagen

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zeit.de

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Mar 20, 19:17

Volkswagen Ordered to Prove Justification for Reduced Works Council Pay

The German Federal Labor Court ordered Volkswagen to prove the justification for reduced pay to released works council members, remanding a case back to a lower court due to procedural errors; this follows a 2023 ruling on executive payments to works councils, impacting 85 similar VW cases and poten...

Volkswagen Ordered to Prove Justification for Reduced Works Council Pay

The German Federal Labor Court ordered Volkswagen to prove the justification for reduced pay to released works council members, remanding a case back to a lower court due to procedural errors; this follows a 2023 ruling on executive payments to works councils, impacting 85 similar VW cases and poten...

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What is the key legal implication of the Federal Labor Court's decision regarding Volkswagen's reduced pay for released works council members?

The German Federal Labor Court ruled that Volkswagen must prove that reduced pay for released works council members was justified. If Volkswagen lowered previously increased pay, it must demonstrate the increase was erroneous and the reduction correct. The case was remanded to the Lower Saxony Labor Court due to procedural errors.

kathimerini.gr

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Mar 20, 13:16

Bentley Weighs Price Hikes Amid US Tariff Threat

Facing potential 25% US tariffs, Bentley, despite record 2024 profits of €373 million (down from €589 million in 2023 due to weak Chinese demand), is considering passing costs to consumers, while maintaining its focus on high-value, customized vehicles.

Bentley Weighs Price Hikes Amid US Tariff Threat

Facing potential 25% US tariffs, Bentley, despite record 2024 profits of €373 million (down from €589 million in 2023 due to weak Chinese demand), is considering passing costs to consumers, while maintaining its focus on high-value, customized vehicles.

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What are the underlying causes of Bentley's profit decline in 2024, and how do these factors interact with the threat of US tariffs?

The threat of US tariffs reflects broader trade tensions impacting global automakers. Bentley's response, considering price increases, highlights the industry's strategic balancing act between absorbing costs and maintaining profitability. This aligns with similar responses from other luxury brands such as Audi.

zeit.de

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Mar 18, 16:10

VWN Raises Profitability Target to 6.5% by 2029

Volkswagen's commercial vehicle division (VWN) raised its 2029 profitability target to 6.5 percent, planning a €1.4 billion annual cost reduction without further job cuts, while expanding ID. Buzz sales globally, including the USA, despite potential US tariffs.

VWN Raises Profitability Target to 6.5% by 2029

Volkswagen's commercial vehicle division (VWN) raised its 2029 profitability target to 6.5 percent, planning a €1.4 billion annual cost reduction without further job cuts, while expanding ID. Buzz sales globally, including the USA, despite potential US tariffs.

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What is VWN's revised profitability target, and how will the company achieve this ambitious goal?

Volkswagen Nutzfahrzeuge (VWN), the VW commercial vehicle division, increased its profitability target from 6 percent to 6.5 percent by 2029. This aligns VWN with the VW car division's goal. The company plans to achieve this through a €1.4 billion annual cost reduction, including €300 million from a recent labor agreement.

repubblica.it

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Mar 14, 16:11

Seat Group Reports Record 2024 Profits Amidst Market Uncertainty

In 2024, Seat Group achieved record operating profit of €633 million (up 1.3% from 2023) and €14.5 billion turnover, driven by a four-pillar strategy including Cupra's growth, cost reduction, Seat's sales increase, and major investments. The Martorell plant is becoming a major electric vehicle hub, ...

Seat Group Reports Record 2024 Profits Amidst Market Uncertainty

In 2024, Seat Group achieved record operating profit of €633 million (up 1.3% from 2023) and €14.5 billion turnover, driven by a four-pillar strategy including Cupra's growth, cost reduction, Seat's sales increase, and major investments. The Martorell plant is becoming a major electric vehicle hub, ...

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How did Seat's strategic investments and restructuring efforts impact its profitability and competitiveness?

The company's success stems from a four-pillar strategy: Cupra's growth (800,000 units sold in 2024, projected to reach 1 million by the end of 2025); a 30% reduction in fixed costs; Seat's 7.5% sales increase; and €5.4 billion invested over five years. This strategic approach enabled Seat to navigate the challenges of slowing electric vehicle sales, increasing Chinese competition, and unstable tariffs.",

zeit.de

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Mar 12, 16:13

German Court to Rule on Works Council Compensation

The German Federal Labor Court will decide in March on a lawsuit by a Volkswagen works council member against VW for reducing his compensation after a 2023 Federal Court of Justice ruling deemed excessive pay for works councils as breach of trust; this ruling could influence compensation practices i...

German Court to Rule on Works Council Compensation

The German Federal Labor Court will decide in March on a lawsuit by a Volkswagen works council member against VW for reducing his compensation after a 2023 Federal Court of Justice ruling deemed excessive pay for works councils as breach of trust; this ruling could influence compensation practices i...

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How does the Volkswagen case affect the interpretation of the Works Constitution Act regarding the compensation of works council members?

This case sets a precedent for determining fair compensation for released works council members across German companies, impacting future labor negotiations and potentially influencing executive decisions regarding employee representation pay. The ruling will significantly affect the interpretation of the Works Constitution Act, which mandates compensation comparable to similar employees. Approximately 20 similar lawsuits from VW alone are pending.

sueddeutsche.de

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Mar 11, 10:18

VW Profit Down 31 Percent in 2023 Amidst Restructuring"

Volkswagen's 2023 net profit dropped 31 percent to €12.4 billion due to decreased earnings in China and high restructuring costs, while the company plans further cost cuts, a 5 percent revenue increase in 2024 and job reductions in Germany.

VW Profit Down 31 Percent in 2023 Amidst Restructuring"

Volkswagen's 2023 net profit dropped 31 percent to €12.4 billion due to decreased earnings in China and high restructuring costs, while the company plans further cost cuts, a 5 percent revenue increase in 2024 and job reductions in Germany.

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What were the primary factors contributing to Volkswagen's significant profit decrease in 2023, and what immediate consequences resulted?

Volkswagen's 2023 profit fell by 31 percent to €12.4 billion due to intense competition in China and high restructuring costs, including the closure of the Audi Brussels plant. Despite this, the company exceeded its own internal profit expectations and will pay employees a bonus of almost €4,800, although this will be significantly reduced from 2026 onwards.",

welt.de

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Mar 20, 19:17

VW Must Prove Justification for Reduced Works Council Pay

The German Federal Labor Court ruled that Volkswagen must prove the justification for reduced compensation to released works council members, reversing a lower court's decision; this follows a 2023 Federal Court of Justice ruling on potential breach of trust in granting excessive compensation to wor...

VW Must Prove Justification for Reduced Works Council Pay

The German Federal Labor Court ruled that Volkswagen must prove the justification for reduced compensation to released works council members, reversing a lower court's decision; this follows a 2023 Federal Court of Justice ruling on potential breach of trust in granting excessive compensation to wor...

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How does the court's decision relate to the 2023 Federal Court of Justice ruling on excessive compensation for works councils?

This ruling establishes a significant precedent in Germany regarding compensation for released works council members, particularly concerning the burden of proof in cases of pay reduction. Volkswagen's reduction of a works council member's salary from nearly €7,093 to €6,454 monthly, following a 2023 Federal Court of Justice ruling, triggered the case. The court's decision highlights the complexities of balancing fair compensation with the prevention of excessive payments.

dw.com

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Mar 19, 10:15

Audi profit plunges 33%, prompting 7,500 job cuts

Audi's 2024 profits fell 33% to €4.2 billion, leading to a planned reduction of 7,500 jobs by 2029, primarily administrative roles, while investing €8 billion in German plants for electric vehicle production; the company cites parts shortages, reduced Chinese demand, and the Brussels plant closure a...

Audi profit plunges 33%, prompting 7,500 job cuts

Audi's 2024 profits fell 33% to €4.2 billion, leading to a planned reduction of 7,500 jobs by 2029, primarily administrative roles, while investing €8 billion in German plants for electric vehicle production; the company cites parts shortages, reduced Chinese demand, and the Brussels plant closure a...

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What is the primary reason for Audi's significant profit decline in 2024, and what are the immediate consequences for the company and its employees?

Audi's profits plummeted by 33% in 2024, reaching €4.2 billion, marking the second consecutive year of decline. This decrease affects Audi, Bentley, Lamborghini, and Ducati, impacting employee bonuses and necessitating workforce adjustments.", "The reduction in profit is attributed to factors including a shortage of parts, reduced demand in China, and the closure of the Brussels plant. To counter this, Audi plans an €8 billion investment in German plants to support the transition to electric vehicles.", "By 2029, Audi plans to cut 7,500 jobs, primarily administrative roles, while maintaining production and introducing a new bonus for union members starting in 2026. These measures aim to improve efficiency and ensure long-term profitability.

politico.eu

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Mar 14, 07:13

Rheinmetall Overtakes Volkswagen, Signaling Germany's Shift to Defense

Rheinmetall's market cap overtook Volkswagen's on Thursday, reaching €55.7 billion versus €54.4 billion, reflecting Germany's economic pivot from cars to defense amid Russia's war in Ukraine and concerns over U.S. support.

Rheinmetall Overtakes Volkswagen, Signaling Germany's Shift to Defense

Rheinmetall's market cap overtook Volkswagen's on Thursday, reaching €55.7 billion versus €54.4 billion, reflecting Germany's economic pivot from cars to defense amid Russia's war in Ukraine and concerns over U.S. support.

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How do geopolitical factors, particularly Russia's actions and U.S. policies, influence this economic shift in Germany?

This shift is driven by Europe's increased defense spending in response to Russia's actions and concerns about potential U.S. withdrawal from the continent. Conversely, Volkswagen faces challenges from the Chinese market, Trump-era tariffs, and the electric vehicle transition. The change highlights a broader geopolitical realignment impacting Germany's economic priorities.

elmundo.es

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Mar 13, 16:12

Seat Delays Electric Vehicle Production Amidst Market Uncertainty

Seat delays its electric vehicle production due to low market demand (5% in Spain, <14% in Europe) and prioritizes profitability, while focusing on Cupra's expansion into the US market by 2030 and investing €10 billion in the Future: Fast Forward project.

Seat Delays Electric Vehicle Production Amidst Market Uncertainty

Seat delays its electric vehicle production due to low market demand (5% in Spain, <14% in Europe) and prioritizes profitability, while focusing on Cupra's expansion into the US market by 2030 and investing €10 billion in the Future: Fast Forward project.

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What factors are influencing Seat's decision to delay the production of its own electric vehicle?

Seat will not produce an electric car until the market share reaches 30-40%, prioritizing profitability. This decision reflects current low electric vehicle adoption rates (5% in Spain, <14% in Europe). Seat also will not participate in VW's ID.1 electric vehicle project.

sueddeutsche.de

🌐 65% Global Worthiness

Mar 12, 22:13

Cariad Job Cuts Disputed Amidst Volkswagen Software Strategy Shift

Volkswagen's software subsidiary Cariad plans to cut 1,600 jobs by year's end, a move disputed by the works council who claim no such agreement exists; the cuts aim to improve efficiency and align with VW's new strategy focusing on external partnerships, while the council prioritizes maintaining pro...

Cariad Job Cuts Disputed Amidst Volkswagen Software Strategy Shift

Volkswagen's software subsidiary Cariad plans to cut 1,600 jobs by year's end, a move disputed by the works council who claim no such agreement exists; the cuts aim to improve efficiency and align with VW's new strategy focusing on external partnerships, while the council prioritizes maintaining pro...

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What is the immediate impact of the planned job cuts at Cariad on Volkswagen's vehicle production timelines?

Cariad, Volkswagen's software subsidiary, plans to cut 1,600 jobs by the end of the year, according to the company. This claim is disputed by the works council, who state no agreements on specific job cuts exist. The reduction is intended to improve efficiency and adapt to the company's role within the Volkswagen Group, using voluntary programs and early retirement, with no compulsory redundancies until 2029.

welt.de

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Mar 11, 16:09

VW's Ambitious 10-Year Plan: From Profit Drop to Tech Leadership

Volkswagen, facing significant profit drops in 2024, aims to become a global technology leader in the automotive industry within 10 years by partnering with XPeng and Rivian for software development and focusing on competitive electric vehicles, particularly in the challenging Chinese market.

VW's Ambitious 10-Year Plan: From Profit Drop to Tech Leadership

Volkswagen, facing significant profit drops in 2024, aims to become a global technology leader in the automotive industry within 10 years by partnering with XPeng and Rivian for software development and focusing on competitive electric vehicles, particularly in the challenging Chinese market.

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Industry, Innovation, and Infrastructure

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How is Volkswagen restructuring its software development strategy, and what are the implications for its subsidiaries and collaborations?

VW's new strategy involves collaborations with XPeng and Rivian to develop future software systems and improve its position in the Chinese market. This follows significant structural changes under CEO Oliver Blume, including increased independence for its Chinese subsidiary and a shift away from concentrating software development within the Cariad subsidiary. The goal is to offer competitive electric vehicles at the right price point, crucial for regaining market share, especially in China.

Showing 1 to 12 of 105 results