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Volkswagen

VW sees strong first-half profits despite chip shortage

VW sees strong first-half profits despite chip shortage

  • "The deliveries to customers of the Volkswagen Group continued to recover strongly in the first half of the current year, leading to a very strong Group turnover as well as a very high operating profit," the company said.
Published 09 Jul, 2021 07:21pm
Volkswagen considers succession for board member Osterloh
Business & Finance

Volkswagen considers succession for board member Osterloh

  • One source said that Osterloh had been offered the position of personnel director at Traton, Volkswagen's truck unit that was spun off and separately listed in 2019.
  • Osterloh, 64, has since 2005 been a member of Volkswagen's supervisory board, half of which is composed of labour representatives under Germany's system of corporate governance.
Published 22 Apr, 2021 05:38pm
Volkswagen wage deal with IG Metall union
Business & Finance

Volkswagen wage deal with IG Metall union

  • The deal with IG Metall will see salaries rise by 2.3% from January 2022. It also includes a 1,000 euro ($1,190) one-off "corona support payment" in June, the carmaker said.
  • This is indeed a deal based on moderation that will probably be reflected in other areas too. It shows that, despite rising inflation, the wage-price spiral feared by many will not rear its head in Germany.
Published 13 Apr, 2021 06:24pm
Volkswagen, IG Metall strike wage deal
Business & Finance

Volkswagen, IG Metall strike wage deal

  • Volkswagen, the world's second-largest carmaker, has seen its shares rise by more than half, shrugging off the impact from the coronavirus pandemic and a chip shortage that has hit the automotive sector.
Published 13 Apr, 2021 12:39pm