Volkswagen Jetta
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Filed under: Chrysler, Fiat Detroit's Big Three could become the Big Two. According to an AP report in The Detroit News, state officials have been lobbying for Fiat-Chrysler CEO Sergio Marchionne to select Tennessee as the location for Fiat's joint headquarters with Chrysler Group LLC. This weekend, Marchionne met with Tennessee governor Bill Haslam at a ceremony celebrating the expansion of a Fiat subsidiary plant in the city of Pulaski. The AP report does not mention any serious talks about headquarters relocation, only that Tennessee officials have been "working me over pretty well," according to Marchionne. Fiat hopes to complete its merger with the Auburn Hills-based automaker sometime next year, and earlier reports have stated that the company is seeking $10 billion in financing to buy the remaining bits of Chrysler. If the company were to relocate, it would join Nissan and Volkswagen in having major American automotive operations in Tennessee. Of course, that whole "Imported From Detroit" thing would need to go out the window, as well.Could Chrysler leave Michigan for Tennessee? originally appeared on Autoblog on Tue, 18 Jun 2013 18:40:00 EST. Please see our terms for use of feeds.Permalink | Email this | Comments
Filed under: Plants/Manufacturing, Hatchback, Volkswagen Volkswagen has officially built 30 million Golf units since the first hatch rolled off the assembly line in early 1974. The company says the accomplishment has cemented the compact's place as the most successful European car ever built, though we imagine the original Beetle might have something to say about that. Even so, Volkswagen says that statistically speaking, the company has sold 2,000 Golf units for every day of production. Chew on that notion for a moment. The Golf has remained relevant over the past four decades thanks to a steady stream of generational updates, and last year, the Volkswagen Golf took the honor of being named the World Car of the Year. A Golf TDI was the 30 millionth unit produced, and Volkswagen says the machine will be on display at the automaker's Wolfsburg facility. You can read the full press release below for more information, including a generational breakdown of each Golf model.Continue reading Volkswagen builds 30-millionth GolfVolkswagen builds 30-millionth Golf originally appeared on Autoblog on Tue, 18 Jun 2013 18:00:00 EST. Please see our terms for use of feeds.Permalink | Email this | Comments
Filed under: Europe, Porsche, Volkswagen, Earnings/Financials, Middle East In August, 2009, as the scuttled merger of Porsche and Volkswagen had gone bad and Porsche was backed up against the ropes, Porsche Automobil Holding SE (PAHSE) relinquished a ten-percent stake in itself to Qatar Holdings as well as options it held on 17 percent of VW shares. The sale meant that, for the first time since the founding of the company 61 years before, an entity outside the Porsche and Piech families had a say in the running of PAHSE. Buying that ten-percent stake back returns full ownership to the two families, the holding company's sole possession being ownership of 50.7 percent of VW's common shares. The price paid wasn't disclosed, but at market rates the purchase would be worth close to $1.25 billion. Qatar intends to hold onto the 17-percent stake it has in Volkswagen.Porsche-Piech buy 10% stake in VW's holding company originally appeared on Autoblog on Tue, 18 Jun 2013 08:00:00 EST. Please see our terms for use of feeds.Permalink | Email this | Comments
Volkswagen Group delivered 3.87m vehicles in the first five months of this year, up almost 6% on the same period a year ago. In May, the numbers were ahead almost 7% at 816,500.
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