Streetbeat News

VWAGY

Volkswagen AG

https://www.volkswagenag.com/

Open

9.33

Mkt cap

44B

Volume

39K

High

9.33

P/E Ratio

3.34

52-wk high

16.48

Low

9.25

Div yield

0.12

52-wk low

9.10

Ford Motor (NYSE:F) reported a 10.5% increase in U.S. sales for February, driven by a surge in EV and hybrid vehicle sales. General Motors (NYSE:GM) announced a pilot program for developing hydrogen fuel trucks and an H2 microgrid. Stellantis N.V. (NYSE:STLA) revealed a record investment plan in South America, aiming for carbon net zero by 2038 and market dominance. Volkswagen (OTC:VWAGY) and Hyundai Motor Company (OTC:HYMTF) also made significant investments in the region.

Portfolio Pulse from Upwallstreet

March 06, 2024 | 8:26 pm

Volkswagen AG (OTC:VWAGY) is facing lawsuits in Germany from Mitsui OSK Lines Ltd. and Allianz SE (OTC:ALIZF) over a 2022 cargo ship fire allegedly caused by a Porsche electric vehicle battery. The fire led to the sinking of the vessel with nearly 4,000 vehicles onboard, resulting in significant potential losses for Volkswagen. The litigation is currently paused for mediation, with the possibility of resuming if no settlement is reached. VWAGY shares dropped 2.11% to $15.05 following the news.

Portfolio Pulse from Shivani Kumaresan

March 05, 2024 | 4:34 pm

Fund Manager Freddie Lait from Latitude Investment Management advises against investing in EV stocks like Tesla due to profitability concerns. He recommends focusing on established automakers such as Ferrari, General Motors, Volkswagen, and BMW, highlighting Ferrari's strong business performance and future plans for an electric vehicle.

Portfolio Pulse from Benzinga Neuro

March 05, 2024 | 2:04 am

Rivian Automotive (NASDAQ:RIVN) reported Q4 financial results, highlighting 2023 milestones and a 2024 production goal of 57,000 vehicles. The introduction of leasing for its R1S SUV, which was the fifth bestselling EV in the U.S. for Q4, could significantly boost sales. Electric vehicles' market share of new retail sales in the U.S. reached 8.55% in Q4, with a record 30.7% of new EVs leased in 2023. Rivian's R1S had the lowest leasing percentage among the top five EVs, suggesting room for growth with its new leasing option.

Portfolio Pulse from Chris Katje

March 02, 2024 | 4:24 pm

XPeng Inc. (NYSE:XPEV) and Volkswagen AG (OTC:VWAGY) have enhanced their partnership by signing an agreement to jointly develop two B-class battery electric vehicles (BEVs) and initiate a Joint Sourcing Program for vehicle parts. This collaboration aims to leverage both companies' strengths, reduce platform costs, and improve the competitiveness of their BEVs. Additionally, XPeng is expanding its global presence through a strategic partnership with Ali & Sons in the UAE, targeting markets in Egypt, Azerbaijan, Jordan, and Lebanon. XPEV shares saw a premarket increase of 3.67% to $9.05.

Portfolio Pulse from Nabaparna Bhattacharya

February 29, 2024 | 10:53 am

XPENG and Volkswagen Group have entered into a Master Agreement for strategic technical collaboration and a Joint Sourcing Program. This partnership aims to reduce costs and has already achieved a major milestone in the development of B-class BEVs under the Volkswagen brand.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 9:05 am

Rivian Automotive, Inc. (RIVN) stock dropped over 8% in a day, adding to a 25.60% loss due to poor 2024 production guidance. Tesla investor Gary Black supports Rivian as a potential number two in the EV market, citing its high-quality product and brand recognition. Black also sees Rivian's cash position as strong and hints at a possible acquisition by Amazon (AMZN). Rivian's upcoming R2 launch event is seen as a key catalyst. Future Fund Active ETF (FFND) holds shares in both Tesla and Rivian.

Portfolio Pulse from Shanthi Rexaline

February 23, 2024 | 6:35 pm

European automotive giants Volkswagen AG (OTC:VWAGY), Renault SA (OTC:RNSDF), and Stellantis NV (NYSE:STLA) are considering a partnership to produce affordable EVs in response to competition from Chinese EV makers and Tesla. This move aims to address the challenges posed by the growing dominance of Chinese EVs, supported by state subsidies, and the competitive pressure from Tesla. The European Commission is investigating Chinese EV manufacturers for potential unfair advantages and considering tariffs on Chinese EV imports, which could benefit European automakers.

Portfolio Pulse from Benzinga Neuro

February 21, 2024 | 12:23 pm

Sony and Honda's joint venture, Sony Honda Mobility, plans to launch three electric vehicle (EV) models by the late 2020s to compete with Tesla. The lineup includes a sedan in 2025, an SUV in 2027, and an affordable compact by 2028, all sharing the same chassis for cost efficiency. The Afeela Sedan is expected to be priced over 10 million yen ($66,413). Additionally, Honda recently recalled 750,114 vehicles in the US over airbag concerns but reported no injuries. Honda aims for up to 1.3 million sales for the Honda brand and 150,000 for Acura in 2024. HMC shares dropped 1.06% to $33.70.

Portfolio Pulse from Lekha Gupta

February 14, 2024 | 5:36 pm

Super Bowl LVIII featured commercials from a wide range of companies, with ad slots priced at around $7 million for 30 seconds. Paramount Global Inc aired the game on CBS, Nickelodeon, and streamed it on Paramount+. The overtime period likely resulted in additional ads. Companies like Keurig Dr Pepper, Intuit, Flutter Entertainment, Disney, Alphabet, Comcast, Unilever, PepsiCo, Restaurant Brands International, CoStar Group, Kellanova, Anheuser-Busch InBev, PDD Holdings, L'Oreal, Booking Holdings, T-Mobile US, Molson Coors Beverage, Mondelez International, Morgan Stanley, The Hershey Company, Squarespace, Snap Inc, Deckers Outdoor, e.l.f. Beauty, Etsy, Apple, Danone, Maplebear, Uber Technologies, Pfizer, Skechers, Toyota Motor Corporation, Amazon.com, Ally Financial, Progressive Corporation, Discovery Financial Services, and DoorDash were among those who advertised during the event.

Portfolio Pulse from Chris Katje

February 12, 2024 | 6:40 pm

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