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|52 Week Range||626.87 - 834.00|
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Thirty public prosecutors in Stuttgart, where the sportscar maker Porsche is headquartered, searched for documents at ten properties, they said in a statement. Three people have come under suspicion, including a member of the Porsche management board, a senior Porsche manager and a former Porsche employee, the statement said.
A German luxury carmaker and a French biotech company have joined forces to solve the two big problems that have been holding back biofuels.
AUDI AG (DB:NSU) is currently trading at a trailing P/E of 9.2x, which is lower than the industry average of 10.1x. Although some investors may jump to the conclusion thatRead More...
Investors seeking to preserve capital in a volatile environment might consider large-cap stocks such as AUDI AG (DB:NSU) a safer option. One reason being its ‘too big to fail’ auraRead More...
Audi (NSUG.DE) said it is bracing for a difficult year on Thursday as the effects of its biggest-ever model overhaul and the emissions scandal keep Volkswagen's main earner from catching up with German rivals Mercedes-Benz and BMW. The luxury brand of Volkswagen will launch over 20 redesigned and new models in 2018, including upgraded versions of the popular A6 saloon and Q3 sport-utility vehicle and the all-new electric e-tron SUV, with the changeover expected to hurt demand of its existing line-up. Audi, the third biggest luxury car maker, said it aims to at least match last year's record 1.88 million global sales, but that is the first time in years it is not projecting an outright increase.
Audi (NSUG.DE) expects no further provisions for its "dieselgate" emissions scandal this year after setting aside a total of 2 billion euros ($2.47 billion) in 2016 and 2017, its finance chief said. Volkswagen's (VOWG_p.DE) main profit engine developed the bigger 3.0 litre V6 diesel engines used in about 80,000 VW, Audi and Porsche models that in 2015 were found to have been equipped with illicit software and to exceed U.S. emissions limits. Audi has to date paid out more than half the provisions and expects to transfer an outstanding 900 million euros by the first quarter of 2019, CFO Alexander Seitz said on Thursday at an earnings press conference.
Audi's (NSUG.DE) top management will decide in the next year or two whether to build batteries for its vast electric-car programme in its high-cost German home market, its chief executive said. Audi's labour leaders have urged management to invest in battery-cell technology and to assemble powerpacks at the two core factories in Ingolstadt and Neckarsulm, where R&D operations and two thirds of the 91,000 workforce are based. "We have not yet taken a decision on this matter," Chief Executive Rupert Stadler told journalists after the brand's annual news conference on Thursday.
German prosecutors broadened a criminal investigation of Audi AG’s role in diesel-emissions cheating for a fourth time, with raids now targeting two former management-board members of the luxury-car maker....
German prosecutors searched the homes of three new suspects in connection with Audi's (NSUG.DE) emissions scandal on Thursday, further widening their inquiry into the carmaker's test-cheating scandal to include former executives. About two weeks after raiding Audi's headquarters and one of its two German plants, Munich prosecutors said two of the three individuals affected by Thursday's searches are former members of the Volkswagen (VOWG_p.DE) division's top management board. Current Audi executives are still not among the suspects, the number of which has risen to 17, prosecutors said, adding the new suspects were considered to be partly responsible for the emissions trickery.
Audi (NSUG.DE) Chief Executive Rupert Stadler has rejected suggestions he is about to be ousted and believes he has the support of parent company Volkswagen (VOWG_p.DE), a German newspaper reported on Tuesday. "It is not possible to stop that speculation from coming up again and again," Stadler was quoted as telling the Handelsblatt daily, adding that he feels "very clearly" that he has the support of the leadership of Volkswagen. Audi Chairman Matthias Mueller, who is also CEO of parent company Volkswagen, appealed to workers last week to ignore a media report that Stadler was about to be removed.
Audi Chairman Matthias Mueller appealed to workers to ignore a media report that Chief Executive Rupert Stadler was about to be ousted, hoping to quell further unrest at the scandal-hit Volkswagen group. German tabloid Bild reported on its front page on Friday that Stadler would leave in April because of his handling of the diesel emissions affair, in which Audi played a prominent role. The report said Stadler would however be given a new role as VW group finance chief.
Porsche and Audi, Volkswagen's main luxury car divisions, plan to develop a joint platform for electric vehicles that will enable them significantly cut down on costs, German newspapers quoted their chief executives as saying. "By 2025, we're facing a low single-digit billion euro sum to develop the architecture," Audi CEO Rupert Stadler told both the Stuttgarter Zeitung and Stuttgarter Nachrichten. "If both would act on their own, costs would be 30 percent higher," Porsche CEO Oliver Blume said, adding Audi was hiring 550 developers for the project and Porsche 300.
Audi (NSUG.DE) works council chief Peter Mosch has brushed off the suggestion that Chief Executive Rupert Stadler could leave amid ongoing investigations into the premium carmaker's role in parent Volkswagen's (VOWG_p.DE) diesel emissions scandal. "Stadler has a contract. Period," WirtschaftsWoche magazine on Thursday quoted Mosch as saying in an interview, when asked whether Stadler was still the right man at the helm after 10 years in office.
German prosecutors said they had searched carmaker Audi's headquarters and one of its plants on Tuesday as they widened their inquiry into the manipulation of diesel emissions tests. Audi, which is the biggest contributor to Volkswagen's (VOWG_p.DE) profit, admitted in November 2015 that its 3.0 litre V6 diesel engines were fitted with a device deemed illegal in the United States that allowed cars to evade emissions limits. Prosecutors had raided Audi last March to investigate who was involved in the use of any illicit software used in the affected 80,000 VW, Audi and Porsche cars in the United States.
German prosecutors searched the homes of several current and former Audi (NSUG.DE) employees on Wednesday in connection with the carmaker's involvement in parent Volkswagen's (VOWG_p.DE) diesel emissions test-cheating scandal. The raids, which follow searches at Audi's two German plants last March, were carried out at apartments in the western states of Bavaria, Baden-Wuerttemberg and Rhineland-Palatinate, prosecutors in Munich said. The number of accused people involved in proceedings related to Volkswagen's luxury division rose to 13 in January from six, but still includes no current or former Audi executives, prosecutors said.
Germany's transport ministry confirmed a media report on Monday that the KBA automotive watchdog detected illicit emission-control software in Audi's latest Euro-6 diesel models and ordered a recall of the vehicles. Some 127,000 vehicles from Audi, a unit of Volkswagen, are affected worldwide including 77,600 vehicles are registered in Germany, a spokeswoman for the German transport ministry said during a regular news conference.
Germany's KBA automotive watchdog has detected illicit emission-control software in Audi's latest Euro-6 diesel models and has ordered a recall of 127,000 vehicles, Bild am Sonntag reported. Audi, a unit of Volkswagen, said in a statement that the models had been included in a voluntary recall of 850,000 diesel vehicles with V6 and V8 TDI engines announced in July. "The engine control software for the vehicles in question will be completely revised, tested and submitted to the KBA for approval", Audi said in its statement.
MUNICH (Reuters) - German premium carmaker Audi (NSUG.DE) said on Wednesday it was recalling 330,000 cars in Germany due to possible problems with electrical connections for the auxiliary heater that could ...
Germany's Audi has abandoned plans to sell its Italian motorcycle brand Ducati, its chief executive Rupert Stadler said, in a sign of confidence that the carmaker expects to be able to carry the costs of its transformation. Steps to reduce costs by 10 billion euros ($11.8 billion), cut red tape and deepen ties with fellow Volkswagen-owned brand Porsche are "gradually increasing our financial and organisational leeway for the strategic realignment," chief executive Rupert Stadler told reporters. There is therefore no economic need to sell Ducati, Stadler said.
Germany’s Daniel Abt was disqualified from Sunday’s Hong Kong Formula E race after a post-race inspection ended his victory celebrations and handed the win to Swedish rival Felix Rosenqvist. Audi Sport said they intended to appeal, with the matter set to go before the governing FIA's international tribunal.
Audi has agreed to rule out forced redundancies in Germany by five years until the end of 2025 and to build two fully-electric SUV models at its main plant in Ingolstadt, it said in a joint statement with its German works council. The Volkswagen-owned business last year awarded production of its first mass-produced electric sport-utility vehicle to a plant in Brussels, and has since been under pressure from labour unions to allocate electric car projects to Germany. "Production of the two new fully electric SUVs is another milestone for our secure future," works council chief Peter Mosch said in the statement on Tuesday.
Audi (NSUG.DE) is recalling almost 5,000 cars in Europe for a software fix after discovering they emitted too much nitrogen oxide, the polluting gas that parent Volkswagen (VOWG_p.DE) concealed from U.S. regulators in its devastating 2015 "dieselgate" scandal. The luxury carmaker said on Thursday it had reported the matter to Germany's road transport authority KBA, which was concerned about the possible illegal manipulation of emission levels. The KBA had no immediate comment.