VLKAF - Volkswagen AG

Other OTC - Other OTC Delayed Price. Currency in USD
173.16
+2.77 (+1.63%)
At close: 3:58PM EDT
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Previous Close170.39
Open168.76
Bid0.00 x 0
Ask0.00 x 0
Day's Range168.56 - 174.46
52 Week Range147.95 - 188.00
Volume973
Avg. Volume1,038
Market Cap87.56B
Beta (3Y Monthly)0.99
PE Ratio (TTM)5.68
EPS (TTM)30.51
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend Date2018-05-04
1y Target EstN/A
Trade prices are not sourced from all markets
  • Ford & Volkswagen partner for self-driving push
    Yahoo Finance Video11 days ago

    Ford & Volkswagen partner for self-driving push

    Ford and Volkswagen are adding self-driving and electric cars to their list of projects. Yahoo Finance's Dan Roberts joins Seana Smith on 'The Ticker' to discuss.

  • Volkswagen, Ford Join Forces on EVs, Self-Driving Cars
    Bloomberg11 days ago

    Volkswagen, Ford Join Forces on EVs, Self-Driving Cars

    Jul.12 -- Herbert Diess, Volkswagen AG chief executive officer, and Jim Hackett, Ford Motor Co. chief executive officer, discuss the companies' expanding alliance on developing self-driving and electric vehicles. They speak with Bloomberg's David Westin.

  • Ford on self-driving deal: We have no intention of merging with VW
    Yahoo Finance Video11 days ago

    Ford on self-driving deal: We have no intention of merging with VW

    Volkswagen and Ford are teaming up on electric and self-driving car technology as the industry races to embrace innovation. Jim Farley, Ford's President of New Businesses Technology and Strategy for the Volkswagen-Ford alliance joins Yahoo Finance. He talks with Adam Shapiro and Julie Hyman.

  • Ford and Volkswagen CEOs Agree Partnership Has Been Beneficial
    Bloomberg11 days ago

    Ford and Volkswagen CEOs Agree Partnership Has Been Beneficial

    Jul.12 -- Herbert Diess, Volkswagen AG chief executive officer, and Jim Hackett, Ford Motor Co. chief executive officer, discuss the automakers' agreement to extend their partnership in electric and self-driving car technology. They speak with Bloomberg's David Westin on "Bloomberg Markets."

  • Cummins makes offer for VW's large engines unit: sources
    Reuters4 days ago

    Cummins makes offer for VW's large engines unit: sources

    United States-based diesel engines maker Cummins has made an indicative offer for Volkswagen's MAN Energy Solutions unit, people close to the matter said, as the carmaker seeks to slim down its portfolio of disparate assets. Volkswagen announced in May that it is exploring a sale or partnership for its MAN Energy Solutions as part of a restructuring of the German cars, trucks and bus empire. VW has held talks with Cummins, and received an offer from the U.S. company for MAN Energy Solutions, the sources said.

  • GM’s Biggest Chinese Ally Braces For First Annual Sales Dip
    Bloomberg4 days ago

    GM’s Biggest Chinese Ally Braces For First Annual Sales Dip

    (Bloomberg) -- SAIC Motor Corp. expects annual sales to fall for the first time in at least 14 years as China’s biggest automaker battles through a slump in demand roiling the world’s largest car market, according to people familiar with the matter.The Shanghai-based company, Volkswagen AG and General Motors Co.’s biggest auto-making partner in China, projects 2019 sales will fall about 7%, said the people, who asked not to be identified because the information hasn’t been made public. The new target of 6.54 million is about 8% below SAIC’s public forecast for a slight increase in sales and would represent the first full-year drop on record, based on data compiled by Bloomberg back to 2006.Citing weakness in Chinese demand for cars, JPMorgan lowered its second quarter earnings per share estimate for GM on Thursday to $1.25 from $1.29, and also cut its projection for GM’s 2020 profit by about 1%.Investors seemed unfazed by the news as GM rose 1.1% to $39.53 as of 10:56 a.m. in New York.At SAIC’s venture with VW, sales are expected to fall by about 3% to 2 million units and deliveries at SAIC General Motors Corp. are projected to slide by almost 8% to 1.82 million vehicles, according to one of the people. The figures would represent the first full-year drop for the VW venture and the second-straight annual decline for the GM one, according to data compiled by Bloomberg.The projections are the latest signs of deterioration in the global car market, as shifts in technology and weakening economic growth give consumers fewer reasons to go to the showroom, whether it be in China, the U.S. or Europe. The slump is prompting traditional automakers to fight back, by slashing jobs, pursuing mergers, and plowing billions of dollars into electric and self-driving vehicles.A representative for SAIC said that if the overall market slides this year, the company plans to sustain its market share. Representatives for GM and the SAIC-VW venture declined to comment.In China, consumers bought more cars in June -- the first increase in a year -- but those gains were largely inflated by heavy discounts to clear inventory, indicating the trend won’t last. Deliveries to dealerships continued to fall. The state-backed China Association of Automobile Manufacturers is forecasting a second straight year of declines in the country’s passenger-car market, while researcher LMC Automotive last month predicted a 5% drop. GM representatives declined to comment on forward-looking figures.Adding to the woes in China are continued trade frictions with the U.S. and the advent of tougher emissions standards.SAIC reported this month a 17% drop in first-half sales and said it saw declines across its various ventures. The company has offered buyers incentives of as much as 50% over the past few months to clear inventory of cars that don’t meet stricter emissions standards, according to local media reports. Eighteen provinces and regions -- which together account for most of China’s car sales -- began requiring vehicles to meet the new criteria from July 1.It’s not just SAIC that’s suffering. Geely Automobile Holdings Ltd., which is controlled by billionaire Volvo Cars owner Li Shufu, issued a profit warning last week. That triggered a broader fear that the automaker -- which Sanford C. Bernstein sees as a barometer for sentiment on car stocks -- is foreshadowing further pain across the sector. Great Wall Motor Co. on Friday warned first-half profit fell about 59% and slashed its full-year sales forecast to 1.07 million units, or 11% below what it projected in March.Beyond China, European car registrations fell for the ninth time in 10 months, with June seeing the region’s biggest drop this year. In the U.S., most automakers posted shrinking sales in June and the industry is headed for the second annual sales decline in three years.Even India, long a growth market with still-low car penetration, is now suffering from a prolonged decline. Sales of passenger vehicles in the country dropped more than 17% in June, the eighth straight monthly retreat.(Adds analyst lowering estimate of GM’s EPS in third paragraph.)\--With assistance from David Welch and Kyle Lahucik.To contact Bloomberg News staff for this story: Tian Ying in Beijing at ytian@bloomberg.net;Steven Yang in Beijing at kyang74@bloomberg.netTo contact the editors responsible for this story: Young-Sam Cho at ycho2@bloomberg.net, Ville Heiskanen, Emma O'BrienFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Reuters8 days ago

    UPDATE 1-UAW head wants union to share in profits of U.S. automakers

    The head of the labor union representing most hourly workers at the U.S. automakers struck an adversarial tone on Monday, vowing in likely contentious talks for new four-year deals that they want to share in the companies' profits. Rising healthcare costs, job security and the use of temporary workers are also expected to be major sticking points.

  • Barrons.com10 days ago

    What Killed the VW Beetle? One Villain: Americans’ Love of Light Trucks

    Volkswagen started making the small car eight decades ago in Germany and ceased production this past week at its plant in Mexico. In its place: a new sports utility vehicle.

  • Bloomberg11 days ago

    Harsh Reality Forces Automaker Rivals Like VW, Ford to Make Nice

    (Bloomberg) -- To understand how much strain the world’s leading auto manufacturers face as they make the daunting leap to the electric and autonomous vehicle age, just listen to their leaders.“The business part of you wouldn’t do these things,” Ford Motor Co. Chief Executive Officer Jim Hackett said in a Bloomberg Television interview on Friday. That startling admission came after he had just inked a massive deal with German arch-rival Volkswagen AG to join forces to develop electric and self-driving cars.The auto industry is being disrupted by increasingly stringent environment regulations mandating electric cars, while breakthroughs in driverless technology have the potential to upend the way humanity moves. That’s forcing carmakers to balance rivalry with survival.“The leadership part of you requires that you do it,” Hackett said of partnering with the competition. “You have to invest in things that are uncertain, before they are ready, because when they are ready you can’t catch up.”The collaboration commits Ford to build battery cars on a VW platform, while the German automaker invests $2.6 billion in the American company’s autonomous-affiliate Argo AI. That gives the startup an eye-popping valuation of $7.25 billion -- and the commercial launch of its robot rides is still two years off.“This game will change, so economies of scale will be important,” VW CEO Herbert Diess said at a press conference Friday to announce the expanded tie-up with Ford. “Sharing tech and using standards will be important to succeed in the future.”Ford’s one-upmanship with VW goes back decades -- from the German manufacturer’s founding in the run-up to World War II, to America’s hippie-era love affair with the Beetle and fuel-sipping Rabbit model during the oil shock era, and now trade wars that threaten to further politicize commercial battles.But the shift to battery-powered cars and autonomous driving will require different tools than the ones carmakers have spent the better part of a century honing. It’s no longer just about building ever-more powerful engines and sculpting exterior sheet steel.The Ford-VW deal is a bet on a coming age of electric-powered robo-cars that will take fresh approaches to competition, marketing and planning. And it will take money -- gobs and gobs of it.While the deal will result in a new electric passenger vehicle from Ford in 2023 and Argo joining with VW brand Audi’s autonomous operation to deploy self-driving test vehicles in Europe next year, it’s really about ensuring each company’s survival well into the future.“They’re looking at the longer term,” said Stephanie Brinley, auto analyst with IHS Markit. “These moves aren’t about 2025, these moves are about these companies trying to make sure they’re fully ready and capable for 2030 and 2040 and taking the steps you need to get that far down the road.”Electrification will cost carmakers $225 billion through 2023, roughly equal to the industry’s annual total for capital expenses, research and development spending, according to consultant AlixPartners. Self-driving cars will soak up an additional $85 billion through 2025.The partnership between Ford and VW shows how some companies are tackling the task with more urgency than others.So far buyers aren’t exactly swarming showrooms to pick up electric cars. High prices, patchy charging infrastructure, and, with the exception of Tesla Inc.’s sleek models, unorthodox styling have made them a tough sell.Likewise, the payoff in self-driving technology is years away and drivers remain resistant to turning over the wheel to a robot. But consumer habits are changing, as people rely less on ownership and turn to sharing apps, e-bikes and scooters for more of their transportation needs.Cash-rich giants like Alphabet Inc., Amazon.com Inc. and Apple Inc. have turned industries from phones to cameras to television upside down, and auto executives fear they could be next as cars become increasingly high-tech and software-dependent.“The OEMs have to invest through this valley to get to the other side,” Mark Wakefield, a managing director with AlixPartners, said last month. “But investing -- or partnering to invest -- to get through that is a way to span the generational path.”Jim Farley, Ford’s president of new businesses, technology and strategy, said the partnership with VW isn’t only about cutting costs. This collaboration could help accelerate each automaker’s trip through the profit desert Wakefield warns of.“This is not only a capital efficiency play,” Farley said in an interview. “It’s absolutely leverage on our margins, especially in a place like Europe.”Other automakers are also reinventing themselves. General Motors Co.’s acquisition of the self-driving startup Cruise in 2016 for $581 million has turned out to be prescient. The automaker has since attracted three major outside investments totaling $6.15 billion. As of May, GM Cruise was valued at $19 billion when T. Rowe Price Associates Inc. joined earlier backers, Honda Motor Co. and SoftBank Vision Fund.VW’s backing of Argo AI -- $1 billion in cash and another $1.6 billion for the value of its Autonomous Intelligent Driving unit that it’s contributing -- should put that self-driving startup on a similar path to attracting outside investment.“Now that a valuation’s been set and with the potential of this relationship, it does set us up well for that,” said Bryan Salesky, Argo’s co-founder and CEO, a veteran of Google’s self-driving car program. “I’m sure that’s in the cards at some point in the future.”Meanwhile, Fiat Chrysler Automobiles NV tried -- though it failed -- to build scale and gain access to electric-car technology through a merger with Renault SA, to make up for its dearth of battery-powered cars. Chairman John Elkann this week told Italian newspaper La Stampa that the attempt was “an act of courage” and would have allowed it to make better use of capital and more cars.On the other side of the spectrum sits the Renault-Nissan-Mitsubishi Alliance, where tensions threaten to rip apart two decades of cooperation just at the moment it’s needed most.Lack of a decisive strategy on electric cars this month also cost BMW AG CEO Harald Krueger a second term as leader, after he couldn’t unite a bickering board behind him. And Daimler AG’s new CEO Ola Kaellenius will have to dig deep on leadership skills to steer the Mercedes-Benz maker that’s endured four profit warnings in just over a year. Those two German automakers have partnered on a self-driving project they vowed earlier this month would see robot-piloted cars on highways by 2024.Building a software stack for autonomous vehicles may cost a few billions of dollars, while maintaining it will cost billions more each year, VW’s Diess said in the joint interview with Ford’s CEO. “The times we are facing, we will get into resource problems” without the help of partnerships, he said. “Because it gets really, really expensive.”\--With assistance from Chester Dawson and David Westin.To contact the reporters on this story: Keith Naughton in Southfield, Michigan at knaughton3@bloomberg.net;Elisabeth Behrmann in Munich at ebehrmann1@bloomberg.net;Christoph Rauwald in Frankfurt at crauwald@bloomberg.netTo contact the editors responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net, ;Craig Trudell at ctrudell1@bloomberg.net, Chester DawsonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • In Expanded Ford-Volkswagen Partnership, Who Is Getting The Better Deal?
    Investor's Business Daily11 days ago

    In Expanded Ford-Volkswagen Partnership, Who Is Getting The Better Deal?

    Ford and Volkswagen deepened their partnership by agreeing to collaborate on self-driving cars and electric vehicles.

  • US STOCKS-Wall Street hits record high on rate cut optimism
    Reuters11 days ago

    US STOCKS-Wall Street hits record high on rate cut optimism

    The S&P 500 traded above the 3,000 level for a third straight session, also boosted by a 0.63% gain in the technology sector, the S&P 500's best performer so far this year. The healthcare sector fell 1.70%, the most among the 11 major S&P sectors, weighed down by a 4% slide in shares of Johnson & Johnson. The Dow Jones Industrial Average was up 157.23 points, or 0.58 percent, at 27,245.31 and the S&P 500 was up 6.24 points, or 0.21 percent, at 3,006.15.

  • VW, Ford Extend Collaboration to Electric, Self-Driving Cars
    Bloomberg11 days ago

    VW, Ford Extend Collaboration to Electric, Self-Driving Cars

    (Bloomberg) -- Volkswagen AG and Ford Motor Co. will cooperate on electric and self-driving car technology, sharing costs on a global scale to take a major step forward in the industry’s disruptive transformation.VW will invest $2.6 billion in Ford’s autonomous-car partner Argo AI in a deal that values the operation at more than $7 billion, the two manufacturers said Friday in a joint statement in New York, confirming a figure first reported by Bloomberg. This includes $1 billion in funding and VW contributing its Audi $1.6 billion Autonomous Intelligent Driving unit.“While Ford and Volkswagen remain independent and fiercely competitive in the marketplace, teaming up and working with Argo AI on this important technology allows us to deliver unmatched capability, scale and geographic reach,” Ford Chief Executive Officer Jim Hackett said.Ford shares climbed as much as 2.1% as of 9:40 a.m. Friday in New York. VW’s preferred stock was up 1.6% in Frankfurt.Unprecedented shifts facing the auto industry are forcing players to consider new partnerships and potential consolidation. VW, the world’s top automaker, offers the industry’s most ambitious roll-out of electric models, while Ford, also in the top 10, is developing advanced self-driving technology with Argo.For VW, the Argo investment offers an opportunity to potentially catch up with Alphabet Inc.’s Waymo, and General Motors Co.’s Cruise unit. Road tests and accumulating huge amounts of data are critical for the further development of self-driving cars, and few apart from Waymo are equipped to do it alone.“It took a while to get this deal done, but it’s because we actually sorted out a lot of the hard problems,” Bryan Salesky, Argo AI’s co-founder and CEO, said in an interview. “We have a clear line of sight to production, vehicle supply and we have clear line of sight to where we want to go to market and how.”Besides sharing costs for the development of self-driving cars, Ford will use VW’s electric-car underpinnings that form to backbone of the most aggressive rollout of electric cars in the industry with Volkswagen spending some 30 billion euros ($34 billion). Adding more vehicles to production lines would help gain scale and save costs, and offer Ford a platform to better comply with tougher rules on carbon-dioxide emissions in Europe.Ford will build at least one mass-market battery car in Europe starting in 2023 and deliver more than 600,000 European vehicles based on VW’s platform, dubbed MEB, over six years. A second electric model for Europe is under discussion.Teaming up with its U.S. peer is one of the key initiatives of VW Chief Executive Officer Herbert Diess to overhaul the German industrial giant. Both sides reiterated on Friday the tie-up does not include entering equity ties between Ford and VW.For Ford, a deal with VW fits with CEO Jim Hackett’s $11 billion overhaul of the company, which includes exiting the slow-selling sedan market in the U.S., shifting to focus on commercial vehicles in Europe and investing in electric-truck startup Rivian Automotive Inc. Geographically, the companies complement each other, with Ford strong in the U.S. and VW a leader in Europe and China.“Our global alliance is beginning to demonstrate even greater promise , and we are continuing to look at other areas on which we might collaborate,” VW CEO Diess said.(Updates with shares trading in fourth paragraph.)To contact the reporters on this story: Christoph Rauwald in Frankfurt at crauwald@bloomberg.net;Keith Naughton in Southfield, Michigan at knaughton3@bloomberg.netTo contact the editors responsible for this story: Craig Trudell at ctrudell1@bloomberg.net, ;Anthony Palazzo at apalazzo@bloomberg.net, Chester DawsonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Barrons.com11 days ago

    Ford and Volkswagen Team Up on Artificial Intelligence for Cars

    In a long-anticipated move, (F) and (VOW3) expanded their global partnership, saying they plan to collaborate on electric vehicles as well as autonomous driving and the artificial intelligence that will guide self-driving cars. The deal, which builds on a partnership formed in January, illustrates once again the challenges of developing the expensive technologies that will become part of driving in the future. Research and development requirements are rising, forcing car makers to collaborate to spread out costs over a larger base of vehicle sales.

  • Volkswagen investment vaults Argo into top ranks of self-driving firms
    Reuters11 days ago

    Volkswagen investment vaults Argo into top ranks of self-driving firms

    Volkswagen AG's $2.6-billion investment in Ford Motor Co's Argo AI self-driving unit, announced on Friday, immediately vaults the two-year-old Pittsburgh-based startup into the top ranks in the sector. Argo said VW was investing $1 billion in cash and contributing its European self-driving unit, valued at $1.6 billion. The investment deal gives Argo a valuation of just over $7 billion, one of the highest in the autonomous vehicles sector.

  • VW investment vaults Argo into top ranks of self-driving firms
    Reuters11 days ago

    VW investment vaults Argo into top ranks of self-driving firms

    Volkswagen AG's $2.6-billion investment in Ford Motor Co's Argo AI self-driving unit, announced on Friday, immediately vaults the two-year-old Pittsburgh-based startup into the top ranks in the sector. Argo said VW was investing $1 billion in cash and contributing its European self-driving unit, valued at $1.6 billion. The investment deal gives Argo a valuation of just over $7 billion, one of the highest in the autonomous vehicles sector.

  • Benzinga11 days ago

    Ford Confirms Expansion Of Autonomous Driving Initiative With Volkswagen

    U.S.-based automaker Ford Motor Company (NYSE: F ) and German counterpart Volkswagen AG announced Friday an expansion of their global alliance to include autonomous driving and electric vehicles. The Detroit ...

  • Financial Times11 days ago

    Ford and Volkswagen to share costs on electric and self-driving cars

    with agreements to collaborate on electric vehicles and self-driving technology, as they look to bulk up against the storms battering the global auto industry. The deepening of the alliance will see VW invest $2.6bn in Argo AI, the Ford-backed driverless technology start-up, in a deal that values the group at more than $7bn. VW will also begin testing self-driving cars in Europe.

  • VW zooms ahead in extension of alliance with Ford to electric, automated cars
    Reuters11 days ago

    VW zooms ahead in extension of alliance with Ford to electric, automated cars

    , NEW YORK (Reuters) - Ford Motor Co and Volkswagen AG said they will spend billions of dollars to jointly develop electric and self-driving vehicles, deepening a global alliance to slash development and manufacturing costs while positioning VW as the initial winner. Ford and VW executives said the latest collaborations could save hundreds of millions of dollars for each company. VW has agreed to plow $3.1 billion into Ford's Argo AI self-driving unit, but estimates it could realize up to $20 billion in revenue by sharing its MEB electric vehicle architecture with Ford in Europe.

  • Ford confirms it will build a car using VW's EV architecture
    Engadget11 days ago

    Ford confirms it will build a car using VW's EV architecture

    What was once rumored is now official: Ford is going to use VW's electric carplatform, called MEB, for some of its own battery-powered vehicles

  • UPDATE 7-VW zooms ahead in extension of alliance with Ford to electric, automated cars
    Reuters11 days ago

    UPDATE 7-VW zooms ahead in extension of alliance with Ford to electric, automated cars

    Ford Motor Co and Volkswagen AG said they will spend billions of dollars to jointly develop electric and self-driving vehicles, deepening a global alliance to slash development and manufacturing costs while positioning VW as the initial winner. How soon those investments will pay for themselves is an open question across the global auto industry.

  • MarketWatch11 days ago

    Ford's stock rallies after Volkswagen confirms $2.6 billion investment in SDS partner Argo AI

    Shares of Ford Motor Co. rallied 1.4% in premarket trading Friday, after Germany-based automaker Volkswagen AG confirmed that it will invest $2.6 billion in Ford's self-driving services (SDS) partner Argo AI, as part of an expansion of the company's alliance to include electric vehicles. As part of the deal, Volkswagen will commit $1 billion in funding and contribute its $1.6 billion Autonomous Intelligent Driving (AID) company. Volkswagen will also buy $500 million worth of Argo AI shares from Ford over three years. That will give Ford and Volkswagen an equal stake in Argo AI, and will give the companies, combined, a substantial majority ownership in Argo AI, which is valued at more than $7 billion. "While Ford and Volkswagen remain independent and fiercely competitive in the marketplace, teaming up and working with Argo AI on this important technology allows us to deliver unmatched capability, scale and geographic reach," said Ford Chief Executive Jim Hackett. Ford's stock has run up 33% year to date through Thursday, while Volkswagen's U.S.-listed shares have gained 9% and the S&P 500 has climbed 20%.