Streetbeat News

VWAGY

Volkswagen AG

https://www.volkswagenag.com/

Open

11.96

Mkt cap

60B

Volume

24K

High

11.97

P/E Ratio

5.12

52-wk high

16.48

Low

11.80

Div yield

0.08

52-wk low

8.57

Porsche SE has lowered its 2024 earnings forecast to a range of $2.4 billion to $4.4 billion, down from the previous estimate of $3.5 billion to $5.5 billion. This adjustment follows Volkswagen's revised sales and profit expectations for 2024.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2024 | 4:39 pm

Volkswagen reports that the worsening macroeconomic environment is negatively impacting its business. This could have implications for the automotive industry, including companies like Ford, General Motors, Stellantis, and Volkswagen's US-listed ADRs.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2024 | 4:38 pm

Volkswagen has revised its 2024 forecast, now expecting 9 million vehicle deliveries and $320 billion in sales revenue, which is a reduction from previous estimates of up to 3% and 5% increases, respectively. The operating result is expected to be around $18 billion with a 5.6% return on sales.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2024 | 4:34 pm

The article discusses the challenges faced by traditional automakers like Ford, GM, and Volkswagen in adapting to the EV era, as they face competitive pressure from Chinese EV makers like BYD and XPeng. Ford is struggling with its EV business, while Volkswagen faces potential strikes over plant closures. Meanwhile, Chinese EV makers are expanding aggressively in Europe.

Portfolio Pulse from Upwallstreet

September 26, 2024 | 3:54 pm

Alphabet Inc. and Volkswagen AG are collaborating to launch an AI assistant for drivers, utilizing Google's advanced technology. The AI assistant, integrated into a smartphone app, will assist Volkswagen drivers with tasks like changing a flat tire. This partnership highlights Volkswagen's efforts to integrate AI into vehicles amid industry challenges.

Portfolio Pulse from Benzinga Neuro

September 24, 2024 | 11:51 am

Tesla and Chinese EV startups are leading in the software race for electric vehicles, outpacing traditional automakers like Toyota and Volkswagen. Despite challenges such as U.S. sanctions and a domestic price war, Chinese EV companies remain competitive. Tesla's stock has seen a slight increase over the past year.

Portfolio Pulse from Anusuya Lahiri

September 23, 2024 | 4:23 pm

The U.S. Commerce Department has proposed a ban on Chinese-made vehicles with key communications and automated driving systems due to national security concerns. This could significantly impact Chinese automakers like BYD, Nio, and Xpeng, as well as American and international automakers sourcing components from China. The proposal is part of a broader U.S. strategy to limit China's economic influence. Stocks of affected companies showed mixed reactions, with GM falling over 3% and Ford rising 1.3%.

Portfolio Pulse from Piero Cingari

September 23, 2024 | 1:26 pm

Volkswagen and other European automakers like BMW, Mercedes-Benz, Stellantis, and Renault are facing significant challenges, including underutilized factories and competition from Chinese EV makers like BYD. Volkswagen is considering plant closures, and Stellantis is halting production of its electric Fiat 500e due to declining demand. The European auto industry is struggling to compete with Chinese automakers, who are planning to establish factories in Europe to avoid tariffs.

Portfolio Pulse from Upwallstreet

September 20, 2024 | 2:06 pm

NIO Inc. has denied rumors of plans to take over the Audi Brussels car plant. Despite media reports of a NIO delegation visiting the plant, the company clarified it has no intentions to pursue such a takeover. NIO's shares are trading slightly lower in the premarket.

Portfolio Pulse from Nabaparna Bhattacharya

September 20, 2024 | 12:42 pm

Tesla's vehicle registrations in the EU dropped by 15% in the first eight months of 2024, reflecting a slowdown in EV demand. In contrast, Volkswagen, Volvo, and Toyota saw increases in registrations. The ACEA has called for urgent relief measures due to upcoming CO2 targets.

Portfolio Pulse from Anan Ashraf

September 19, 2024 | 8:05 am

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