CEO Oliver Blume said Porsche, which launches its first electric vehicle in 2019, greatly respects Tesla but does not see the US carmaker as a role model.
Transportation Minister Andreas Scheuer isn’t ruling out a nationwide diesel ban, saying the new government will start serious talks with automakers. (BILD)
A Hamburg court ruled a Volkswagen dealership must replace a customer’s diesel car with a new one, saying the software update provided wasn’t enough. (Reuters)
Porsche expects to keep sales stable this year after reaching €23.5 billion in revenue on deliveries of 246,375 cars in 2017. CFO Lutz Meschke said he’s also expecting a renewed 15% return.
Audi currently does not expect further charges in relation to Dieselgate, the emissions scandal that hit the carmaker and its parent, VW Group, in 2015.
Sixt’s US business turned a substantial profit last year, the first time since entering the market in 2011. Global revenue grew 8% to €2.6 billion and net profit rose almost a third to €204 million.
Car rental company Sixt will launch a platform that combines car-sharing, vehicle rental and taxi services, pitting it against Uber, BMW and Mercedes-maker Daimler.
Stefan Piëch, a VW shareholder and great-grandson of Beetle designer Ferdinand Porsche, has met Chancellor Angela Merkel several times since 2010 to talk about family-owned companies. (WirtschaftsWoche)
New passenger car sales in Europe grew 3.6% in February to 1.16 million vehicles. Top seller VW expanded its market share to 24.1% from 23.1% a year ago, while Fiat Chrysler and BMW’s market shares dropped.