VOW.DE - Volkswagen AG

XETRA - XETRA Delayed Price. Currency in EUR
149.00
-3.30 (-2.17%)
As of 3:26PM CEST. Market open.
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Performance Outlook
  • Short Term
    2W - 6W
  • Mid Term
    6W - 9M
  • Long Term
    9M+
Previous Close152.30
Open154.20
Bid148.80 x 22300
Ask149.10 x 61000
Day's Range146.90 - 154.90
52 Week Range99.16 - 185.00
Volume44,734
Avg. Volume132,436
Market Cap72.21B
Beta (5Y Monthly)1.74
PE Ratio (TTM)6.89
EPS (TTM)21.62
Earnings DateJul 30, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateMay 15, 2019
1y Target Est195.40
  • Reuters

    23 U.S. states sue Trump administration over fuel efficiency rollback

    A group of 23 U.S. states led by California, the District of Columbia and some major cities are challenging a Trump administration decision to weaken Obama administration fuel efficiency standards. In March, the Trump administration issued final rules requiring 1.5% annual increases in efficiency through 2026 - far weaker than the 5% increases in the discarded Obama-era rules - but abandoned its August 2018 proposal to freeze requirements at 2020 levels through 2026. Last week, a trade group representing General Motors Co , Fiat Chrysler Automobiles, Toyota Motor Corp and others sided with the Trump administration on its plan and opposed a legal challenge to further weaken the requirements.

  • Bloomberg

    Amazon Will Take Robot Cars to a Whole New Level

    (Bloomberg Opinion) -- Amazon.com Inc.’s interest in acquiring a self-driving car pioneer is the prime example (pun intended) of how expectations for driverless vehicles have been recalibrated.The e-commerce giant is in advanced talks to buy Zoox Inc. for less than the $3.2 billion at which it was valued in 2018, the Wall Street Journal reported on Tuesday. Given the California-based startup’s approach to autonomous cars, its fate is particularly instructive.In a very crowded field, Zoox was practically alone in aiming to build a whole new kind of electric-powered vehicle, and to operate the fleet itself. Peers such as Alphabet Inc.’s Waymo, General Motors Co.’s Cruise unit, Ford Motor Co. and Volkswagen AG’s joint venture Argo AI, and Aurora Innovations Inc. have focused solely on developing the self-driving technology that could subsequently be fitted into vehicles.Zoox wanted to be Tesla Inc., Waymo and Uber Technologies Inc. all rolled into one.Back in 2015, that seemed like an attractive proposition. If the triple threat to the automotive industry was autonomous technology, electric drivetrains and ride-hailing, why not embrace all three? After all, there were expectations that by 2020 robotaxis would ferry you around the world’s metropolises. Capital flowed into self-driving car startups, typified by the $1 billion GM spent acquiring Cruise in 2016.Those dreams, needless to say, have failed to materialize. Companies that had aimed to jump straight to the fourth of five levels of autonomy have quietly downshifted. (The first level of self-driving encompasses driver-assistance functions such as cruise control, and the fifth is full automation.) Bloomberg New Energy Finance doesn’t expect vehicles with Level Four automation to start gaining traction until 2034. Even then, they will likely represent just 831,000 of the 95 million-unit global car market that year.What’s more, the expense of developing, building and operating a fleet of self-driving cars would be considerable. Even deep-pocketed Alphabet and GM have sought outside investment for their efforts. Established carmakers are meanwhile focusing their capital on electric cars, a more imminent threat. And owning and operating a fleet is expensive too. Zoox had a tough sell to investors: In 15 years’ time, it might have been an attractive business.Which brings us to Amazon. Even if robotaxis aren’t coming any time soon, there are alternative applications for autonomous technology that fall squarely in the Seattle-based firm’s wheelhouse, namely, logistics. Given Amazon’s shipping costs are set to hit $90 billion a year, tech from Zoox could help save $20 billion in shipping costs, according to Morgan Stanley analysts. Its solutions could be used across warehousing and distribution. Buying Zoox could take Amazon's other moves in this field — an existing investment in Aurora and experiments with self-driving truck specialist Embark and electric vanmaker Rivian — to a whole new level.Amazon has become the fantasy acquirer for any number of companies seeking a soft landing: theater chains, brick-and-mortar retailers, food deliverers, mobile carriers, real estate brokers, dental suppliers, film studios and plenty more besides.Sometimes, just sometimes, those deals make sense. Zoox is one of them.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Alex Webb is a Bloomberg Opinion columnist covering Europe's technology, media and communications industries. He previously covered Apple and other technology companies for Bloomberg News in San Francisco.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Costly Electric Vehicles Confront a Harsh Coronavirus Reality
    Bloomberg

    Costly Electric Vehicles Confront a Harsh Coronavirus Reality

    (Bloomberg) -- At a factory near Germany’s border with the Czech Republic, Volkswagen AG’s ambitious strategy to become the global leader in electric vehicles is coming up against the reality of manufacturing during a pandemic.The Zwickau assembly lines, which produce the soon-to-be released ID.3 electric hatchback, are the centerpiece of a plan by the world’s biggest automaker to spend 33 billion euros ($36 billion) by 2024 developing and building EVs. At the site, where an East German automaker built the diminutive Trabant during the Cold War, VW eventually wants to churn out as many as 330,000 cars annually. That would make Zwickau one of Europe’s largest electric-car factories—and help the company overtake Tesla Inc. in selling next-generation vehicles.But Covid-19 is putting VW’s and other automakers’ electric ambitions at risk. The economic crisis triggered by the pandemic has pushed the auto industry, among others, to near-collapse, emptying showrooms and shutting factories. As job losses mount, big-ticket purchases are firmly out of reach—in the U.S., where Tesla is cutting prices, more than 36 million people have filed for unemployment since mid-March. Also, the plunge in oil prices is making gasoline-powered vehicles more attractive, and some cash-strapped governments are less able to offer subsidies to promote new technologies.Even before the crisis, automakers had to contend with an extended downturn in China, the world’s biggest auto market, where about half of all passenger EVs are sold. Total auto sales in China declined the past two years amid a slowing economy, escalating trade tensions, and stricter emission regulations. EV sales are forecast to fall to 932,000 this year, down 14% from 2019, according to BloombergNEF. The drop-off is expected to stretch into a third year as China's leaders have abandoned their traditional practice of setting an annual target for economic growth, citing uncertainties. Economists surveyed by Bloomberg expect just 1.8% GDP growth this year.The global market contraction raises the prospect of casualties. French finance minister Bruno Le Maire has warned that Renault SA, an early adopter of electric cars with models like the Zoe,  could “disappear” without state aid. Even Toyota Motor Corp., a hybrid pioneer when it first introduced the Prius hatchback in 1997, is under pressure. The Japanese manufacturer expects profits to tumble to the lowest level in almost a decade.Automakers who for years have invested heavily in a shift to a high-tech future—including autonomous vehicles and other alternative energy-based forms of transportation such as hydrogen—now face a grim test. Do their pre-pandemic plans to build and sell electric cars at a profit have any chance of succeeding in a vastly changed economic climate? Even as Covid-19 has obliterated demand, for the car makers most committed to electric, there’s no turning back.“We all have a historic task to accomplish,” Thomas Ulbrich, who runs Volkswagen’s EV business, said when assembly lines restarted on April 23, “to protect the health of our employees—and at the same time get business back on track responsibly.”Volkswagen Pushes AheadGlobal EV sales will shrink this year, falling 18% to about 1.7 million units, according to BloombergNEF, although they’re likely to return to growth over the next four years, topping 6.9 million by 2024. “The general trend toward electric vehicles is set to continue, but the economic conditions of the next two to three years will be tough,” said Marcus Berret, managing director at consultancy Roland Berger.Volkswagen’s Zwickau facility became the first auto plant in Germany to resume production after a nationwide lockdown started in March. Before restarting, the company crafted a detailed list of about 100 safety measures for employees, requiring them to, among other things, wear masks and protective gear if they can’t adhere to social-distancing rules.The cautious approach has reduced capacity—50 cars per day initially rolled off the Zwickau assembly line, roughly a third of what the plant manufactured before the coronavirus crisis. (VW said Wednesday that daily output had  risen to 150 vehicles, with a plan to reach 225 next month.) Persistent software problems also have plagued development of the ID.3, one of 70 new electric models VW group is looking to bring to market in the coming years. Still, Ulbrich and VW CEO Herbert Diess over the past three months have reaffirmed Volkswagen’s commitment to electrification. “My new working week starts together with Thomas Ulbrich at the wheel of a Volkswagen ID.3 - our most important project to meet the European CO2-targets in 2020 and 2021,” Diess wrote in a post on LinkedIn in April. “We are fighting hard to keep our timeline for the launches to come.”Diess has described the ID.3 as “an electric car for the people that will move electric mobility from niche to mainstream.” Pre-Covid, the company had anticipated that 2020 would be the year it would prove its massive investments and years of planning for electric and hybrid models would start to pay off.A more pressing worry that could hamper VW’s ability to scale up production is its existing inventory of unsold vehicles. The cars need to move to make room for new releases, but sales are down as consumers are tightening their spending. One response has been to offer improved financing in Germany, including optional rate protection should buyers lose their jobs. VW also has adopted new sales strategies first used by its Chinese operations, such as delivering disinfected cars to customer homes for test drives, and expanding online commerce.Other German automakers are similarly pushing ahead with EV plans. Daimler AG is sticking to a plan to flank an electric SUV with a battery-powered van and a compact later this year. BMW AG plans to introduce the SUV-size iNEXT in 2021 as well as the i4, a sedan seeking to challenge Tesla’s best-selling Model 3.A potential obstacle for all these companies—apart from still patchy charging infrastructure in many markets—is the availability of batteries. Supply bottlenecks appear inevitable given that the number of electric car projects across the industry outstrip global battery production capacity. And boosting cell manufacturing is a complicated task.China's (Weakened) EV Dominance For VW and others, the first big test of EVs’ appeal in a Covid-19 world will come in China. Diess has referred to China as “the engine of success for Volkswagen AG.” VW group deliveries returned to growth year-on-year last month in China, while all other major markets declined.Not long ago, China appeared to be leading the world toward an electric future. As part of President Xi Jinping’s goal to make the country an industrial superpower by 2025, the government implemented policies that would boost sales of EVs and help domestic automakers become globally competitive, not just in electric passenger cars but buses, too.With the outbreak seemingly under control in much of the country, China is seeing some buyers return to the showrooms, but demand for passenger cars is likely to fall for the third year in a row, putting startups like NIO Inc.  at risk and hurting more-established players like Warren Buffett-backed BYD Co., which suffered from a 40% year-on-year vehicle sales decline in the first four months of 2020.The Chinese auto market may shrink as much as 25% this year, according to the China Association of Automobile Manufacturers, which before the pandemic had been expecting a 2% decline. EV sales fell by more than one-third in the second half of 2019.NIO, the Shanghai-based startup that raised about $1 billion from a New York Stock Exchange initial public offering in 2018 but lost more than 11 billion yuan ($1.5 billion) last year, was thrown a much-needed lifeline when a group of investors, including a local government in China’s Anhui Province, offered 7 billion yuan last month.Other Chinese manufacturers are counting on support from the government, too, including tax breaks and an extension to 2022 of subsidies, originally scheduled to end this year, to make EVs more affordable.For now, the government will also look to help makers of internal combustion engine vehicles, at least during the worst of the crisis, said Jing Yang, director of corporate research in Shanghai with Fitch Ratings. But, she said, “over the medium-to-long term, the focus will still be on the EV side.”America is Tesla CountryCompanies can’t count on that same level of support from President Donald Trump in the U.S., where consumers who love their SUVs and pickup trucks have largely steered clear of electric vehicles other than Tesla’s.The U.S. lags China and Europe in promoting the production and sale of EVs, and that gap may widen now that Americans can buy gas for less than $2 a gallon.“When you’re digging out of this crisis, you’re not going to try to do that with unprofitable and low-volume products, which are EVs,” said Kevin Tynan, a senior analyst with Bloomberg Intelligence.Weeks after announcing plans to launch EVs for each of its brands, General Motors Co. delayed the unveiling of the Cadillac Lyriq EV originally planned for April. Then on April 29, the company said it would put off the scheduled May introduction of a new Hummer EV. The models are part of CEO Mary Barra’s strategy to spend $20 billion on electrification and autonomous driving by 2025, to try to close the gap with Tesla.In another move aimed at winning over Tesla buyers, Ford Motor Co. unveiled its electric Mustang Mach-E last November at a splashy event ahead of the Los Angeles Auto Show. The highly anticipated model had been scheduled to debut this year. Ford has not officially postponed the release, but the company has said all launches will be delayed by about two months, potentially pushing the Mach-E into 2021.Elon Musk, whose cars dominate the U.S. electric market, cut prices by thousands of dollars overnight. The Model 3 is now $2,000 cheaper, starting at $37,990. The Model S and Model X each dropped $5,000.Musk engaged in a high-profile fight with California officials this month over Tesla’s factory in Fremont, California, which had been closed by shutdown orders Musk slammed as “fascist.”  In a May 11 tweet, he said the company was reopening the plant in defiance of county policy. On May 16, Tesla told employees it had received official approval.During most of the shutdown in California, the company managed to keep producing some cars thanks to better relations with local officials regulating its other factory, in Shanghai. That plant closed as the virus spread from Wuhan in late January, but the local government helped it reopen a few weeks later in early February.First Zwickau, Then the WorldThe ID.3’s new electric underpinning, dubbed MEB, is key to VW’s strategy to sell battery-powered cars on a global scale at prices that will be competitive with similar combustion-engine vehicles. Automakers typically rely on such platforms to achieve economies of scale and, ultimately, profits. MEB will be applied to purely electric vehicles across all of the company’s mass-market brands, including Skoda and Seat.VW said it spent $7 billion developing MEB after Ford last year agreed to use the technology for one of its European models. Separately, the group’s Audi and Porsche brands are built on a dedicated EV platform for luxury cars that the company says will be vital in narrowing the gap with Tesla.VW plans to escalate its electric-car push by adding two factories, near Shanghai and Shenzhen, that it says could eventually roll out 600,000 cars annually, more cars than Tesla delivered globally last year.While China is the initial goal, making a dent in Europe and the U.S. is the long-term one. Like China, Europe had been tightening emissions regulations significantly before the pandemic. New rules to reduce fleet emissions will gradually start to take effect this year, effectively forcing most manufacturers to sell plug-in hybrids and purely electric cars to avoid steep fines.Because of the mandates, Europe’s commitment to electrification isn’t going away, said Aakash Arora, a managing director with Boston Consulting Group. “In the long term, we don’t see any relaxation in regulation,” he said.For VW, this crisis wouldn’t be the first time it started a new chapter in difficult times. Diess saw an opportunity coming off the manufacturer’s years-long diesel emissions scandal that cost the company more than $33 billion to win approval for the industry’s most aggressive push into EVs. When VW unveiled the ID.3, officials compared its historic role to the iconic Beetle and the Golf, not knowing that this might hold in unintended ways: The Beetle arose from the ashes of World War II, and the Golf was greeted by the oil-price shock in the 1970s.“We have a clear commitment to become CO2 neutral by 2050,” VW strategy chief Michael Jost said, “and there is no alternative to our electric-car strategy to achieve this.”(Updates with Tesla price cut starting in the third paragraph. An earlier version corrected the spelling of Berret in the ninth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Reuters

    CATL explores new EV battery services, more capacity - chairman

    China's top electric vehicle (EV) battery maker CATL is exploring new battery-related services and will expand manufacturing capacity in the next two years, its chairman told Reuters. Ningde-based CATL, which alongside LG Chem and Panasonic is one of the biggest EV battery makers globally, is developing battery-swapping and battery maintenance services, its chairman Zeng Yuqun said on Wednesday. It will also expand recycling capabilities in China and invest in similar businesses overseas, Zeng added in a written response to Reuters questions.

  • Exclusive: Volkswagen in final talks to seal biggest M&A deals in China EV sector - sources
    Reuters

    Exclusive: Volkswagen in final talks to seal biggest M&A deals in China EV sector - sources

    Volkswagen AG <VOWG_p.DE> is in final talks to seal its largest investment deals with Chinese electric vehicle (EV) firms, two sources said, as the German automaker accelerates its push into the world's largest market for environmentally friendlier cars. The firm is poised to buy 50% of Anhui Jianghuai Automobile Group Holding, the parent of EV partner JAC Motors <600418.SS>, for at least 3.5 billion yuan ($491 million), the people said on condition of anonymity as the matter was private. Volkswagen declined to comment on the deals, details of which are reported here for the first time.

  • Reuters

    Mexico's auto industry restart gathers steam, Ford still waiting

    Mexico's auto industry reopening picked up pace on Tuesday, with Fiat Chrysler and BMW AG joining peers in gradually dusting off operations even as the wait for approvals slowed the return of Ford Motor Co and other companies. Fiat Chrysler on Tuesday began reopening two facilities in the central Mexican city of Toluca after a gradual restart of its operations in the northern city of Saltillo a day earlier, said a company spokesman. The announcement means two of Detroit's Big Three automakers have begun restarting Mexican operations.

  • Reuters

    Lithium producers must wait as pandemic slows electric vehicle revolution

    The coronavirus pandemic has paused the electric vehicle revolution, forcing producers of battery metal lithium into survival mode with output cuts, expansion delays and sales of major assets. Lithium industry shares have dropped sharply since January as the economic downturn from the pandemic slammed the brakes yet again on the electrification revolution that for years has seemed just around the corner. The holdup will result in a shortage of the white metal available for EV batteries when markets rebound, warned industry analysts, executives and consultants.

  • Volkswagen Dieselgate Update: Here's What You Should Know
    Zacks

    Volkswagen Dieselgate Update: Here's What You Should Know

    As Volkswagen (VWAGY) loses the landmark Dieselgate case in its home country, the court rules that the claimants are entitled to return their vehicles for partial reimbursement of the purchase price.

  • Reuters

    Toyota, Nissan and Honda gear up for Mexico reboot after COVID-19 lockdowns

    Japanese automakers Toyota, Nissan and Honda said they are gradually restarting in Mexico as the nation's automotive industry reboots in line with a broader economic reopening, despite still-high numbers of new coronavirus cases. Mexican officials in mid-May said the automotive industry could exit the coronavirus lockdown before June 1 if approved safety measures were in place. Toyota Motor Corp and Nissan Motor Co Ltd told Reuters on Monday that they were preparing to gradually resume operations, and Honda Motor Co Ltd last Friday said it had begun a gradual return to operations.

  • Oilprice.com

    Is Dieselgate Finally Over?

    Five years after Volkswagen’s dieselgate scandal first hit the airwaves, a German court has finally ruled that the automaker will be forced to pay out  €750 million in buybacks

  • German court says Volkswagen must buy back diesel cars with faulty emissions testing
    MarketWatch

    German court says Volkswagen must buy back diesel cars with faulty emissions testing

    A German court has ruled that Volkswagen must buy back cars from owners of its diesel cars equipped with software that evaded emissions testing.

  • Financial Times

    VW defeated in landmark Dieselgate case brought by van buyer

    Germany’s highest civil court has ordered Volkswagen to pay more than €28,000 to an owner of a diesel minivan, in a landmark judgment that will force the carmaker to compensate tens of thousands of customers. In the first Dieselgate claim to be heard at the Bundesgerichtshof (Federal Court of Justice) in Karlsruhe since the company was found to be cheating on emissions results more than four years ago, the court found in favour of Herbert Gilbert, who bought a VW Sharan in 2014 for about €31,500. The precedent will de facto force VW to compensate claimants in at least 50,000 outstanding cases.

  • Reuters

    RPT-In China's auto market, worries grow that cashback deals and gifts presage damaging price war

    HANGZHOU, China/SHANGHAI, May 25 (Reuters) - Cashback offers, up to 10 free oil changes, generous prepaid gasoline cards - these are just some of the giveaways China's auto dealerships are using to woo customers out and about after spending much of February and March in lockdown. Cui Peng, a Geely sales manager in the eastern city of Hangzhou, says unit sales at his dealership jumped 30% in April from March and they are hoping for 25% growth in May.

  • New emissions blow for Volkswagen as German court backs damages claims
    Reuters

    New emissions blow for Volkswagen as German court backs damages claims

    Volkswagen must pay compensation to owners of vehicles with rigged diesel engines in Germany, a court ruled on Monday, dealing a fresh blow to the automaker almost five years after its emissions scandal erupted. The ruling by Germany's highest court for civil disputes, which will allow owners to return vehicles for a partial refund of the purchase price, serves as a template for about 60,000 lawsuits that are still pending with lower German courts. Volkswagen admitted in September 2015 to cheating emissions tests on diesel engines, a scandal which has already cost it more than 30 billion euros ($33 billion) in regulatory fines and vehicle refits, mostly in the United States.

  • Reuters

    Mexican auto industry groups urge Puebla state to allow operations to restart

    Mexican auto industry groups on Sunday urged the governor of the state of Puebla to allow a gradual restart of operations after economic activity was curbed to contain the spread of the novel coronavirus. Puebla, where Volkswagen and its luxury brand unit Audi have major plants, said on Friday conditions "do not exist" yet for the auto industry to restart activity, while carmakers with plants in other states have signalled they are being allowed to reopen. Mexico has 68,620 confirmed coronavirus infections, 2,082 of which were registered in Puebla.

  • Reuters

    In China's auto market, worries grow that cashback deals and gifts presage damaging price war

    HANGZHOU, China/SHANGHAI, May 25 (Reuters) - Cashback offers, up to 10 free oil changes, generous prepaid gasoline cards - these are just some of the giveaways China's auto dealerships are using to woo customers out and about after spending much of February and March in lockdown. Cui Peng, a Geely sales manager in the eastern city of Hangzhou, says unit sales at his dealership jumped 30% in April from March and they are hoping for 25% growth in May.

  • Financial Times

    VW ad agency investigates potential sabotage over racist advert

    A Berlin-based agency owned by advertising giant Omnicom is investigating whether an act of deliberate sabotage led to the publication of a racist advert for a new Volkswagen Golf model. The world’s largest carmaker apologised on Wednesday after the publication of a short Instagram video to promote the Golf 8 that featured an oversized white hand pushing round a smaller dark-skinned figure. VW executives said they were “horrified” by the “racist advertising video” while Voltage, the agency that created it, said they had begun an internal investigation.

  • Volkswagen execs ‘horrified’ over racist ad showing large white hands flicking a black man
    MarketWatch

    Volkswagen execs ‘horrified’ over racist ad showing large white hands flicking a black man

    The German automaker initially said critics ‘misunderstood’ the Instagram clip which has been pulled

  • Reuters

    Mexico's Puebla state says restart of auto industry not yet possible

    The government of Mexico's Puebla state said on Friday that "conditions do not exist" to re-start activities in the automotive and construction industries, given the need to mitigate the spread of the coronavirus. German automakers Volkswagen AG and Audi both have major plants in the state, but they have idled production to the coronavirus pandemic.

  • Reuters

    Automaker trade opposes effort to freeze U.S. fuel efficiency standards

    A group representing many major automakers on Friday said it was intervening in a lawsuit that says the Trump administration did not go far enough in weakening -- but not freezing -- Obama administration standards to revise fuel economy standards. In March, the Trump administration said it would require 1.5% annual increases in efficiency through 2026 -- far weaker than the 5% increases in the discarded Obama era rules -- but abandoned its August 2018 proposal to freeze requirements at 2020 levels through 2026. The Competitive Enterprise Institute (CEI) in April asked a federal appeals court to order the administration to reconsider its plan, saying it should have further reduced or frozen the requirements.

  • Tesla Stock Continues to Get the Better of Its Peers During the Pandemic
    InvestorPlace

    Tesla Stock Continues to Get the Better of Its Peers During the Pandemic

    One only needs to look at Western Europe's April car sales to know that 2020 has been a disaster for all vehicle manufacturers including Tesla (NASDAQ:TSLA). On a relative basis, however, Tesla's April decline was actually pretty good, which is great news if you own TSLA stock.Source: Tudoran Andrei / Shutterstock.com Here's why. According to the European Automobile Manufacturers' Association (ACEA), the overall sales in Western Europe in April fell by almost 80%, led by declines of 97.6% and 96.5% in Italy and Spain, respectively. InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe association's data shows that the car company with the best result in April was Lada, which is owned by Renault (OTCMKTS:RNLSY). It saw April sales fall by 48.6%, selling a whopping 107 vehicles over the 30-day period. Lada's sales for the entire European Union fell 71.2%. By comparison, Volkswagen (OTCMKTS:VWAGY) saw its legacy brand's sales fall 76.9% in Western Europe and 74.3% for the entire European Union. * 7 Excellent Penny Stocks Ready to Roar Nissan (OTCMKTS:NSANY) and Honda (NYSE:HM) saw sales decline by more than 80%.And Tesla? According to Forbes, Tesla's sales in the Western Europe region dropped by 38% in April, to 2,737. While Tesla isn't a member of ACEA, if these numbers are accurate, it's another reason why Tesla stock is the best of a bad bunch. None of the other car companies have Tesla's online sales model to fall back on during a pandemic. Overall, sales in Europe are expected to fall between 15% and 30% in 2020. HowNorth America Sales and TSLA StockIn the first quarter, only four brands had year-over-year increases in U.S. car sales: Kia (+1%), Lincoln (+2.8%), Ram (+2.5%), and Tesla (+72.5%). If you're a Tesla shareholder, this figure has got to make you smile amidst all the carnage. As for electric vehicles, Tesla sold an estimated 11,925 vehicles in April, 98% higher than a year earlier. It accounted for 58% of all plug-in electric car sales and 78% of all fully electric vehicles. Not unexpected, April vehicle sales in the U.S. declined by 24.5% over the same period last year to 8.6 million units on a seasonally adjusted annualized basis. However, the consensus estimate was for 7.4 million vehicles, so the numbers actually beat expectations by 16%. Also not a surprise, light trucks accounted for 77% of all sales in April. Thank goodness for cheap gas and the fact that business picked up toward the end of the month. TD expects new-vehicle inventory to spike to 140 days in the second quarter, the highest it's been since late 2008. This translates into great deals for consumers on 2020 models and lower profits for dealerships. Interestingly, the average transaction price in April went up, to $38,060. With all the unemployment in the country, that's a head-scratcher. "Despite our expectation that retail sales volume will be cut in half in April due to the impact from COVID-19, average transaction prices continued their upward trajectory, hitting record highs this month," said Eric Lyman, Chief Industry Analyst for ALG, a subsidiary of TrueCar. Apparently, consumers think it's a good idea to overpay for their vehicles, just so they can get an 84-month, 0% loan. The industry gives with one hand and takes with the other. But that's a subject for another day. The point is that automotive sales in North America appear to be far more resilient than those in Europe. What's This Mean for TSLA Stock?Ark Investment Management founder and CEO, Catherine Wood, originally predicted Tesla stock would reach $4,000 by 2023. At the beginning of 2020, Wood upped that number to $7,000 by 2024.Since the pandemic hit, she's cut the projection to $6,800 by 2024, to factor in a struggling economy, etc. That's based on a belief that Tesla will start an "Uber-like" business before moving on to an autonomous car service."I've always said to analysts, wherever I've been a portfolio manager, that the truth wins out," Wood told Institutional Investor in April. "If we're right, we're going to be rewarded."Indeed they will. If you're long Tesla, stay long. If you're not, there's still plenty of room on the bandwagon. As long as Elon Musk continues to push the innovation button, good things are bound to happen. Will Ashworth has written about investments full-time since 2008. Publications where he's appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. He particularly enjoys creating model portfolios that stand the test of time. He lives in Halifax, Nova Scotia. At the time of this writing Will Ashworth did not hold a position in any of the aforementioned securities. More From InvestorPlace * Top Stock Picker Reveals His Next 1,000% Winner * America's Richest ZIP Code Holds Shocking Secret * 1 Under-the-Radar 5G Stock to Buy Now * The 1 Stock All Retirees Must Own The post Tesla Stock Continues to Get the Better of Its Peers During the Pandemic appeared first on InvestorPlace.

  • Volkswagen admits car ad racist, apologizes
    Autoblog

    Volkswagen admits car ad racist, apologizes

    Volkswagen withdrew on Wednesday an advertisement posted on its official Instagram page for its Golf cars that it admitted was racist and insulting, saying it would investigate how it came about and draw consequences. German television noted that the hand could be interpreted as making a "white power" gesture, while letters that appear on the screen afterwards briefly spell out a racist slur in German. Juergen Stackmann, the VW brand's board member for sales and marketing, and Elke Heitmueller, head of diversity management, took to Twitter and LinkedIn to apologize.

  • VW pulls Instagram ads after racism row
    BBC

    VW pulls Instagram ads after racism row

    The German car giant has apologised and withdrawn a series of adverts after a racism row.

  • Volkswagen admits car advert racist, apologises
    Reuters

    Volkswagen admits car advert racist, apologises

    Volkswagen <VOWG_p.DE> withdrew on Wednesday an advert posted on its official Instagram page for its Golf cars that it admitted was racist and insulting, saying it would investigate how it came about and draw consequences. The German car company, which has seen its reputation tarnished in the last five years after it admitted cheating diesel emissions tests, said it did not tolerate any form of racism. German television noted that the hand could be interpreted as making a "white power" gesture, while letters that appear on the screen afterwards briefly spell out a racist slur in German.