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Stock Market & Financial Investment News

News Breaks
July 14, 2014
09:16 EDTVLKAYVolkswagen poised to invest $900M in Tennesee facility, WSJ says
Volkswagen is poised to invest $900M to construct a new sport-utility vehicle at its Chattanooga, Tennessee plant, as the firm motions to stop a steep U.S. sales decline, according to The Wall Street Journal, citing a statement from the car maker's CEO Martin Winterkorn. Reference Link
News For VLKAY From The Last 14 Days
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February 5, 2016
08:36 EDTVLKAYDaimler CEO: Won't sacrifice margins in effort to overtake BMW, Reuters says
Daimler (DDAIF) CEO Dieter Zetsche said that the auto maker would not sacrifice margins in its effort to overtake BMW (BAMXY) to become the best-selling luxury car brand, Reuters reports, citing comments from Zetsche to analysts at a conference to discuss Q4 results. Zetsche is urging Mercedes to become the leading luxury car brand by 2020 after surpassing Volkswagen's (VLKAY) Audi (AUDVF), the report says. "The volume lead should be the consequence of having the best offering," Zetsche said. "If we accomplish this, it is a natural consequence that more people will choose us." He added, "People said it will create pricing and margin pressure. Exactly the opposite is true." Reference Link
08:14 EDTVLKAYVolkswagen delays annual results, meeting due to open questions on emissions
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08:11 EDTVLKAYVolkswagen delays annual report, general meeting, Bloomberg reports
The annual results and AGM are delayed due to open issues on emissions.
06:14 EDTVLKAYVolkswagen Group of America names David Detweiler as general counsel
Volkswagen Group of America announced yesterday that it has appointed David Detweiler to serve as EVP and General Counsel, effective February 1. The company also announced that it has appointed David Geanacopoulos to the new position of Senior EVP for Public Affairs and Public Policy.
February 3, 2016
06:59 EDTVLKAYVW submits California plan to repair recalled diesel vehicles, Reuters says
The California Air Resources Board and EPA said that Volkswagen has submitted a plan to repair 80,000 recalled 3-liter diesel vehicles that emit up to nine times legally allowed pollution, Reuters reports. Reference Link
February 2, 2016
14:11 EDTVLKAYAutodata estimates January U.S. auto sales pace at 17.58M, CNBC reports
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10:38 EDTVLKAYVolkswagen reports January U.S. sales down 14.57% to 20,0379 units
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07:09 EDTVLKAYTrueCar projects U.S. revenue from new vehicle sales reached $38B in January
TrueCar projects U.S. revenue from new vehicle sales reached a record high for the month of January of $38 billion, up 1.4 percent from a year ago. January marked the auto industry's 25th consecutive month of year over year revenue expansion. Higher average transaction prices helped automakers post a $520 million gain in revenue versus January 2015, despite a likely increase in incentive spending and somewhat lower sales compared with a year ago. As previously announced, TrueCar projects sales of new cars and light trucks contracted 0.3 percent last month. Publicly traded companies in the space include Daimler AG (DDAIF), Fiat Chrysler (FCAU), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY).
February 1, 2016
18:46 EDTVLKAYAutomakers hit with additional costs due to China regulatory shift, Reuters says
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13:24 EDTVLKAYTesla bull cuts target as competition ramps more quickly than new models
Shares of Tesla (TSLA) dipped significantly in early trading before later rebounding after Morgan Stanley cut its price target on the automaker to $333 from its previous $450, with the research firm citing a slow production ramp for its new car models, potentially weakened consumer demand amid cheap oil, and clearly heightening competition in the electric and autonomous vehicle space. LOW DEMAND, MORE COMPETITION: Morgan Stanley analyst Adam Jones cut his price target on Tesla to $333 from $450, arguing Monday that the carmaker is facing a slow production ramp for the Model X as well as the Model 3, which Jones said may launch in late 2018, missing the company's internal target by at least one year. It is reasonable to assume, Jones said, that Tesla is taking a deliberate, quality-conscious pace for Model X production while also shuffling personnel to help with the car's early rollout, impacting the launch of the mass-market Model 3 even as the company grapples with potentially reduced consumer demand in today's cheap oil environment. Given his assumption of lower volumes, the analyst's revised his 2020 forecast for complete vehicle deliveries to less than half of Tesla's own 500,000 target. For 2016, the analyst cut his total delivery forecast 2% to roughly 70,000 units, including a revision of Model X expectations to 15,000 from 18,500. Contributing to Tesla's headwinds, its consumer energy storage solution looks to be more expensive than previously thought, while competition in the shared and autonomous mobility arena has increased markedly. Indeed, competing efforts from Ford (F), Volkswagen (VLKAY), Alphabet (GOOG) and many others appear "genuine" and are likely to see significant investment follow-through, potentially pressuring Tesla's margins as it increases R&D spend to keep pace, Jones argued. That said, the analyst keeps an Overweight rating on the shares, explaining that while Tesla remains a high risk name that burns plenty of cash to fuel its ambitious plans, it may still be the best positioned company in the ongoing "Auto 2.0" transition. PRICE ACTION: After quickly dropping as low as $182.75 in early trading, shares of Tesla are now up 2.6% to $196.14 in afternoon trading.
January 31, 2016
19:33 EDTVLKAYVolkswagen operating results 'good,' not pressured to sell trucks, Reuters says
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January 29, 2016
08:35 EDTVLKAYVW may repurchase diesel vehicles it can't fix, NY Times reports
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January 28, 2016
10:28 EDTVLKAYTakata CEO plans to resign, WSJ reports
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January 27, 2016
06:33 EDTVLKAYBosch CEO: VW to blame for diesel scandal, Bloomberg reports
Volkswagen takes the blame for its emissions cheating scandal and not its suppliers or diesel technology, Bloomberg reports, citing Robert Bosch CEO Volkmar Denner at a press briefing. The technology means diesel-powered cars are currently "air-cleaning machines," as their emissions are cleaner than the air they take in, the report says, citing Denner. Reference Link
January 26, 2016
19:05 EDTVLKAYEuropean Commission vows to press Volkswagen on reimbursement, FT says
In a Financial Times interview published earlier Tuesday, the European Commission's Elzbieta Bienkowska said the Commission "will never step back on [Volkswagen's refusal to compensate its European customers] because it's important. You cannot openly say, although the cheat was the same on both sides of the Atlantic, you are treating European consumers differently." Bienkowska added that the carmaker should offer "comparable" reimbursement to the $1,000 vouchers given to U.S. customers despite it being "extremely expensive" to do so. Reference Link
06:33 EDTVLKAYVW top committee to discuss emissions scandal February 3, Reuters says
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January 25, 2016
10:22 EDTVLKAYVW workers reject 'unrealistic' productivity goal, Bloomberg says
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January 24, 2016
19:02 EDTVLKAYVolkswagen cheat device was 'open secret' as early as 2006, Reuters says
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