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

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

General Motors (GM) and Hyundai have signed a memorandum to explore joint product development and clean energy technologies, aiming to enhance competitiveness and efficiency. GM is also expanding its partnership with EVgo to install more fast charging stalls. The automotive market is challenging, with companies like Volkswagen and Tesla facing competition from BYD.

Portfolio Pulse from Upwallstreet

September 17, 2024 | 5:13 pm

Volkswagen Financial Services U.S. and Wells Fargo have announced a cooperation agreement to provide vehicle purchase financing for Volkswagen, Audi, and Ducati brands in the U.S. The co-branded retail financing is set to launch in April 2025.

Portfolio Pulse from Benzinga Newsdesk

September 16, 2024 | 5:02 pm

Jim Cramer recommends buying PayPal due to its expanded partnership with Shopify. He advises patience with Rivian, despite its financial stability. Cramer is cautious about CVS Health and sees potential in Energy Transfer and The Home Depot. Palantir is noted for its S&P 500 inclusion.

Portfolio Pulse from Avi Kapoor

September 12, 2024 | 12:41 pm

Volkswagen is recalling 98,806 ID.4 electric SUVs in the U.S. due to a door handle malfunction that could cause doors to open unexpectedly. The recall affects models from 2021 to 2024. The company will inspect and replace door handles and update software at no cost to customers.

Portfolio Pulse from Anan Ashraf

September 10, 2024 | 11:09 am

Volkswagen's $5 billion deal with Rivian has caused frustration among employees at its software division, Cariad, as the CEO was not involved in the discussions. The joint venture aims to develop software for future cars, but has led to uncertainty within Cariad. Volkswagen faces falling demand and potential factory shutdowns, while Rivian plans to use the deal to boost production of its R2 SUV.

Portfolio Pulse from Anan Ashraf

September 09, 2024 | 12:43 pm

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