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S&P Downgrades Volkswagen AG and Captive

Standard & Poor’s Ratings Services today downgraded Volkswagen AG and captive finance company Volkswagen Financial Services, based on concerns stemming from VW’s growing diesel emissions scandal. S&P lowered VW and VW Financial Services one notch, to “A-/A-2,” from “A/A-1,” the ratings agency said. The downgrade could hike VW’s cost of funds. “We consider that the […]

September Sales: GM Soars While Ford Declines

General Motors, Nissan, and Chrysler Group led the pack in September, with each company posting a 19% growth in sales over the same period the year before, according to sales records released this week. Chrysler Group sold a total of 169,890 vehicles, compared to 143,017 sold at the same time last year, with the Ram […]

VW Credit to Expand Wholesale Financing

VW Credit Inc. hopes to provide wholesale financing business to two-thirds of its dealers, up from 50% currently, according to a published report. Newly named Chief Executive Christian Dalheim said there is nothing hindering the captive from having more of its U.S. dealerships on the books in the next two to three years. The finance arm for […]

Dahlheim Takes Reins at VW Credit

Christian Dahlheim has replaced Andrew Stuart as president and chief executive of VW Credit Inc., parent company Volkswagen Group of America announced July 30. Stuart left midmonth to become president and CEO of TD Auto Finance U.S. A seasoned executive with more than 18 years’ experience in the industry, Dahlheim most recently served as VW Credit’s chief […]

VW Group (Europe) Profits up, Despite U.S. Drop

VW Financial Services contributed €353 million (£290 million) to the operating profit of the Volkswagen Group as the company posted first-quarter profit of €2.9 billion ($3.9 billion), up 21.8% from last year. The figures contained within the group’s quarterly interim report came off the back of a 5.8% increase in global sales and a 2.7% […]

Volkswagen ‘Going on the Attack’ in America

  Volkswagen announced on Monday that its new midsize SUV will be produced in the company’s Chattanooga, Tenn., facility, in addition to the U.S.-built Passat, starting at the end of 2016. Despite a 22% drop in year-over-year sales in the U.S., the German carmaker has announced an approximately $900-million expansion to its existing plant in […]

Fiat Denies Takeover Talks Report

Fiat S.p.A. is flat out denying a report and subsequent rumors that it has been in discussions with Volkswagen regarding a potential merger. Fiat released the statement this morning to quell reports and rumors set off by an exclusive report in the German magazine “Manager-Magazin.”  That report said The Volkswagen Group was exploring the chances […]
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