Porsche CEO says VW stake sufficient: paper
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German sports car maker Porsche's  stake of almost 30 percent in Volkswagen  is enough to assert its interests in Europe's biggest carmaker, Porsche's chief executive told a German newspaper.
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Luxury automaker Porsche AG said Friday it expects a 4.5 increase in net profit for the first half of 2005 with brisk sales of its redesigned mainstay 911 sports car.
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Volkwagen  brand group chief Wolfgang Bernhard has met with DaimlerChrysler  head Dieter Zetsche to discuss his possible return to DaimlerChrysler, German magazine Automobilwoche said on Saturday.
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Porsche AG, Europe&#39;s most profitable carmaker, said it&#39;s ``confident&#39;&#39; about growth in the current fiscal year after four-month sales rose 4 percent as the company sold more 911 sports cars and Cayenne sport-utility vehicles.
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The new chief executive of PSA Peugeot Citroen  said new models and an improvement in quality would be key to the future of Europe's second-biggest car group after Volkswagen .
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STUTTGART - Despite signs of a global economic slowdown, two of Germany&#39;s leading luxury carmakers - Porsche AG and BMW AG - have said they are off to a strong start to their new business years.
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Volkswagenâs chairman, Ferdinand Piech, may join the board of the truck maker MAN, of which Volkswagen owns a 29.9 percent stake, MAN said. Mr. Piech, along with an executive with Volkswagenâs truck division, Stephan Schaller, will be among those directors whom shareholders will vote on during the May 10 annual meeting, MAN said. Mr. Piech, above, and Mr. Schaller would join Rupert Stadler, an executive with Volkswagenâs Audi subsidiary. Volkswagen has been pushing for an alliance formed of itself, MAN and Sania, another truck maker.
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A German court rejected Wednesday a request by the Volkswagen workers' council to suspend the registration of sports car maker Porsche under a European statute that would see workers' representation reduced on a new supervisory board, a court spokesman said.
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The president and chief executive of French auto group PSA Peugeot Citroen, Jean-Martin Folz, intends to retire in the first quarter of next year, the company has said.
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Volkswagen AG  will decide in 2008 where to build a new auto plant in North America, VW chief executive and management board chairman Martin Winterkorn said on Sunday.
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Volkswagen, the German carmaker, shrugged off broader equity market losses on Tuesday after reporting strong full-year results.
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A new facility for VW and Audi could take the edge off the companyâs currency woes. VW sales and marketing chief Georg Flandorfer, in an interview with Frankfurter Allgemeine Zeitung, said that steep losses
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German luxury sports car maker Porsche said Friday that sales in the first half of its 2007-2008 fiscal year grew by 14.2 percent to 3.5 billion euros (5.2 billion dollars).
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Volkswagen, the biggest European automaker, sold a record 4.61 million vehicles worldwide in the first nine months of 2007, an annualised increase of 8.2 percent, it said Thursday.
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Volkswagen, Europe's biggest car maker, has expressed optimism about prospects in its current business year after earnings rose sharply last year on cost-cutting and capital gains.
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Porsche, the German maker of luxury sports cars, wants to further increase its stake in Europe's biggest car maker Volkswagen, Porsche chief Wendelin Wiedeking has said.
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Bernd Pischetsrieder, the outgoing chairman of German car giant Volkswagen, has been entrusted with finding a solution to the bitter takeover battle between Swedish and German truck makers Scania and MAN, a VW spokeswoman said.