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

Stellantis N.V. (NYSE:STLA) and Volkswagen AG (OTC:VWAGY) reported disappointing Q1 financials with lower sales and higher costs, following Tesla Inc's (NASDAQ:TSLA) revenue drop. Despite this, both companies maintain their full-year targets. Stellantis plans to launch 25 new models, including 18 EVs, while Volkswagen aims for a revenue rise of 5% and an operating margin of 7-7.5% by 2024. Worksport Ltd (NASDAQ:WKSP) is introducing a solar-powered truck bed cover, indicating innovation in the EV market.

Portfolio Pulse from Upwallstreet

April 30, 2024 | 3:45 pm

Mobileye Global Inc (NASDAQ:MBLY) reported a significant 48% year-on-year revenue decline for Q1, attributed to stiff competition and a surprising downturn in EV adoption. Analyst Adam Jonas from Morgan Stanley downgraded Mobileye's rating from Equal-Weight to Underweight and lowered the price target from $26 to $25, citing limited near-term growth potential for its SuperVision product due to reduced EV adoption and increased competition from companies like Nvidia Corp (NASDAQ:NVDA), Qualcomm Inc (NASDAQ:QCOM), and others exploring ADAS technologies.

Portfolio Pulse from Priya Nigam

April 26, 2024 | 6:36 pm

XPeng Inc (NYSE:XPEV), a Chinese EV manufacturer, is considering overseas production due to a European investigation into Chinese-made EVs for potential unfair advantages from state subsidies. The European Commission's probe, deemed protectionist by China, has prompted XPeng to review its strategy as it aims to increase its international sales from 1%-2% to around 10% this year. Despite challenges, XPeng plans to expand in Europe and eyes the U.S. market, emphasizing the global transition to green technology.

Portfolio Pulse from Shivani Kumaresan

April 25, 2024 | 3:36 pm

UAW President Shawn Fain announced the continuation of a $40M campaign to unionize autoworkers at 35 non-union U.S. plants of major automakers including Volkswagen, Mercedes-Benz, Tesla, BMW, Toyota, Nissan, and Hyundai, following a significant union victory at a Volkswagen plant in Tennessee. This win represents the union's first success in a Southern car facility owned by a foreign auto manufacturer, with a scheduled election at two Mercedes-Benz plants in Alabama next.

Portfolio Pulse from Anthony Noto

April 22, 2024 | 6:31 pm

European passenger-car sales fell 2.8% in March, with BEV sales down 11.3%. Volkswagen and Stellantis NV reported significant drops in EV registrations, attributing the decline to reduced subsidies and high interest rates. Volkswagen's EV sales in Europe fell 24.3%, while Stellantis experienced a 12.6% decrease in registrations. Both companies anticipate a challenging 2024, with Volkswagen partnering with XPeng Inc to boost EV sales. The trend suggests European automakers need a new strategy to compete, especially against Chinese firms expanding in Europe.

Portfolio Pulse from Upwallstreet

April 18, 2024 | 1:52 pm

Volkswagen AG, in partnership with XPeng Inc, has developed a new EV architecture aimed at reducing manufacturing costs and competing with Tesla Inc. This China Electrical Architecture (CEA) will reduce control units by 40%, targeting a launch in 2026 for Volkswagen-branded EVs in China. This development is part of Volkswagen's strategy to regain its market position in China against local EV makers like BYD Company Limited, which recently expanded its vehicle offerings.

Portfolio Pulse from Upwallstreet

April 17, 2024 | 3:37 pm

XPeng Inc. (NYSE:XPEV) shares rose in premarket trading after announcing a framework agreement with Volkswagen AG (OTC:VWAGY) (OTC:VLKAF) for technical collaboration on Volkswagen's EV platform in China. The collaboration focuses on integrating XPeng's E/E Architecture for central computing and domain controller-based architecture in Volkswagen's electric vehicles, expected to be produced in China from 2026.

Portfolio Pulse from Nabaparna Bhattacharya

April 17, 2024 | 11:28 am

Electric vehicle stocks had a mixed week, with Tesla, Inc. (TSLA) ending higher despite volatility. Tesla slashed its FSD subscription price by 50% to $99/month to boost adoption. Elon Musk confirmed a visit to India to discuss Tesla's plans, potentially impacting the company's strategy in the region. Nikola Corporation (NKLA) faced a setback with shares dropping due to a boardroom battle and a proxy filing by founder Trevor Milton. Ford Motor Co. (F) reduced prices for its F-150 Lightning EV, and Volkswagen AG (VWAGY) reported diverging EV sales in Europe and China. Canoo, Inc. (GOEV) announced a pilot program with Red Sea Global in Saudi Arabia. The KraneShares Electric Vehicles and Future Mobility Index ETF (KARS) saw a weekly decline.

Portfolio Pulse from Shanthi Rexaline

April 13, 2024 | 1:39 pm

Volkswagen AG and BMW reported significant progress in their electric vehicle (EV) sales, providing optimism in the EV market. Volkswagen saw a 91% increase in EV deliveries in China, contributing to an 8% rise in overall vehicle deliveries in the country for Q1. Despite challenges, Volkswagen's global deliveries rose by 3%. BMW achieved a milestone by selling its one-millionth EV, with a 40.6% increase in EV sales during the first quarter. These developments come amidst Tesla's first delivery drop in four years, highlighting competitive dynamics in the EV market.

Portfolio Pulse from Upwallstreet

April 11, 2024 | 10:14 am

Volkswagen AG (OTC:VWAGY) reported a 3% increase in Q1 FY24 deliveries, totaling 2.10 million vehicles, driven by growth in China, South America, and North America. Despite a 4% increase in combustion engine vehicle deliveries, all-electric vehicle (BEV) deliveries fell by over 3%, with a significant drop in Europe but a surge in China. The BEV order bank grew by 154% year-over-year. Audi and Porsche deliveries also declined. VWAGY shares dropped by 0.44% to close at $15.98.

Portfolio Pulse from Shivani Kumaresan

April 10, 2024 | 11:58 am

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