Porsche IPO Could Happen This Month

Volkswagen AG is moving forward with its plan to list a minority stake in Porsche, with the latest details suggesting that the initial public offering could manifest by this month – if not early October. It’s set to be one of the biggest IPOs ever. But it’s also sounding like Volkswagen Group may abandon the scheme if the larger political or economic situation continues to sour. Considering the continent’s present trajectory, that doesn’t sound like it’s beyond the realm of possibilities. However, the quick turnaround for the offering may mean VW can get out ahead of any social unrest and financial upheaval. Ideally, the automaker still wants to see the sale happen. 

Read more
Porsche's Next Flagship Will Be an EV Crossover

Despite hardcore motorsport enthusiasts collectively proclaiming the 911 as Porsche’s greatest model of all time, it’s presently being outsold by the all-electric Taycan sedan. As a subsidiary of Volkswagen Group, Porsche was already poised to electrify its entire lineup in anticipation of government restrictions on gasoline-powered models. But consumer interest in high-end EVs may be accelerating the process.

Read more
Volkswagen Stops ID. Buzz Production Over Battery Issues

Volkswagen has suspended production of the all-electric ID. Buzz model in Hanover, Germany, with local media citing problems with the battery system.

Read more
Volkswagen Board Displeased With Current Software Situation

Last week, Volkswagen’s supervisory board reportedly told management that it needed to work on improving the company’s software division. Though that should hardly be surprising considering how often digital glitches have delayed product launches and forced the automaker to issue sweeping recalls.

Software gremlins stymied the launch of numerous ID-badged EVs, the Mk8 Golf, and a handful of other vehicles from VW Group’s many subsidiaries. But the issues have persisted, with customers citing electrical troubles and noting that the automaker’s novel touchscreen interfaces are brutally unresponsive. Some of the problems were deemed so heinous that the company eventually recalled literally every current-generation Golf sold within its native Germany. But it’s going to have to do a lot more if it’s serious about leveraging computer code as the cornerstone of an evolving business model and the board of directors seems keenly aware of that fact.

Read more
VW Rumored to Revive Scout Nameplate

Volkswagen Group is reportedly considering reviving the Scout name for North America. Following the merger of trucking subsidiary Traton and Navistar in 2020, VW found itself in possession of the farm-focused International Harvester. While the brand technically hasn’t existed since 1985, the German company effectively owns its intellectual property — including the Scout name — and is keen to leverage some of its nostalgia for an alleged sub-brand specializing in sport utility vehicles.

Read more
VW CEO Says Audi and Porsche Will Be Joining F1

Audi and Porsche have been talking about Formula One for ages and it appears that the talk is finally being replaced by action. Volkswagen Group CEO Herbert Diess has confirmed that both will be entering F1 in the near future.

While the exact nature of their involvement hasn’t been explained, it’s assumed that Audi will be purchasing one of the existing teams while Porsche will become a purveyor of engines. Diess has only confirmed that the companies will be getting involved thus far.

Read more
VW CEO: 'We Have to Become Relevant in the U.S'

Volkswagen CEO Herbert Diess has explained that the automaker would very much like to get back in to the United States’ good graces now that it has cut ties with Russia. With the future of Europe looking shaky, VW is hoping to maintain its position as the best-selling brand in China and start making inroads in America after burning a few bridges there.

Despite the Dieselgate scandal being seven years in the rearview mirror, the automaker is still coping with the resulting financial penalties and the resulting decision to scale back its U.S. aspirations a tad until its electric models hit the road. But the company has always had an issue understanding what American drivers wanted, resulting in boom and bust phases for the company until it manages to solve the puzzle. The most common issue was an inability to adhere to ever-changing emissions standards. But there are also periods where the manufacturer was snubbed for offering subpar electrical equipment or simply having a lineup that was out of sync with American tastes. But Volkswagen has historically enjoyed a resurgence after making the necessary changes and Diess is hoping for another comeback.

Read more
VW Plans Mass Culling of Combustion Cars, Loftier Margins

Practically every automaker on the planet has begun signaling a desire to change with the times by collectively revising their business strategies. The new hotness involves lower volumes, higher margins, and electric vehicles with the ability to push connected services allowing manufacturers to charge you piecemeal for just about every feature imaginable.

While Volkswagen Group has been at the forefront of those trends since the 2015 Dieselgate scandal helped force its hand, it often suggested that the shift to EVs would be a boon to low-income families. It was hardly the only automaker to make such promises, nor has it been the first to break them after deciding that perhaps there’s more money to be made with premium vehicles. VW has decided that its ideal strategy involves culling internal combustion vehicles by 60 percent over the next eight years and focusing on higher-margin products yielding superior profitability.

Read more
Porsche IPO May Be Stalled Over Russo-Ukrainian War

Despite news that Volkswagen Group’s largest shareholder is eager to list the Porsche brand, rumors are swirling that the plan might be delayed over the conflict in Eastern Europe. VW and Porsche SE have openly shared their desire to launch the initial public offering (IPO) in the fourth quarter of 2022. However Porsche Automobil Holding SE’s finance head has suggested it might not be prudent if Russia is still occupying parts of Ukraine.

“We cannot rule out, if the conflict lasts a longer time, that this could have potential implications on the listing,” CFO Johannes Lattwein recently explained during a press conference held in Berlin, adding that no formal decisions have yet been made.

Read more
Volkswagen Shifting Production Out of Europe, Into U.S. and China

Volkswagen Group will be moving some of its European production out of the continent and into facilities located in China and the United States, citing the war in Ukraine as the largest contributing factor. Though if you’ve been following the company, it had already signaled a desire to raise its capacity in China ever since the region shifted into becoming its largest market.

In fact, Chief Executive Herbert Diess said during Tuesday’s press call that China will be taking precedence as the automaker reorganizes its manufacturing.

Read more
Volkswagen AG Pressing Potential Porsche IPO

Volkswagen Group is apparently in talks with Porsche Automobil Holding SE about a potential initial public offering (IPO) for the Porsche luxury/sports brand. According to a statement from VW, the duo has already negotiated the agreed-upon frameworks and is in final discussions as to when they want to move forward.

Weeks of rumor preceded corporate confirmation, making it seem like the proposed deal was already a shoo-in. But any final decisions will still need to be approved by the management and supervisory boards — something Volkswagen Group said has yet to happen.

Read more
Audi Approved for $3.3 Billion EV Factory in China

Audi and FAW Group, the state-owned partner it is effectively required to have in order to preferential treatment from the Communist Party of China, received some good news this week. Government officials have approved the duo for a new, jointly operated production facility in Changchun.

With Volkswagen Group having shifted its focus toward China in recent years, the market has become all-important for the German company. VW is currently the top-selling brand for the entire region, with its Audi subsidiary typically being the highest volume premium automaker from Europe. Building in China is good optics for brands hoping to remain popular there and has the added benefit of placing manufacturing complexes closer to relevant suppliers, especially if you’re swapping to electric vehicles.

Read more
Audi Reveals Ken Block's S1 E-tron Quattro 'Hoonitron'

Ken Block is a man of many talents, many of which have nothing to do with driving. But he’s still best known for showboating from behind the wheel in the highly entertaining and well-produced Gymkhana video series. Here, Kenneth and the Hoonigan team choose a visually engaging locale and creatively rips up the pavement in some of the coolest custom-built rally cars ever to grace the screen.

Due to Block’s partnership with Ford, the majority of those cars wore the Blue Oval. But he’s since entered into a new professional marriage with Audi where he’s supposed to help push the brand’s all-electric agenda. The unification has apparently yielded its first mechanical offspring, with the insane-looking Audi S1 e-tron Quattro Hoonitron having debuted on Wednesday. Predictably electric, the vehicle is heavily inspired by the Group B legend that shares the parts of the name that don’t utilize the word tron.

Read more
Drama at Volkswagen After CEO Suggests 30,000 Job Cuts

Volkswagen CEO Herbert Diess has been facing off with the company’s German workforce for weeks over the changing nature of the business. VW vowed to transition itself toward an all-electric lineup following the 2015 diesel emissions scandal. But the necessary steps to get there haven’t been universally appreciated.

The general assumption has always been that electric vehicles would result in massive layoffs across the industry by nature of their needing fewer parts than internal combustion vehicles. But Volkswagen seems worried that it’s falling behind smaller rivals and needs to take decisive action to make sure it’s not outdone by firms operating in the United States and China. The proposed solution is an industrial overhaul designed to fast-track VW’s electrification goals. Unfortunately, German labor unions are convinced that this plan would incorporate massive layoffs and have become disinclined to offer their support. The issue worsened in September when Diess told the supervisory board that a slower-than-desired transition to EVs could result in 30,000 fewer jobs.

Read more
VW Pumps the Brakes On Porsche Going Public, Eyeballs Job Cuts

Back in February, there was some buzz that Volkswagen Group was seriously considering spinning off the Porsche brand or at the very least listing it on the stock exchange. While the rumors technically go back further than that, it wasn’t until early 2021 that outlets started citing anonymous sources claiming VW felt it had become too bloated with brands and wanted to shake loose some money whilst streamlining the organization.

Not so, says Volkswagen CEO Herbert Diess. It always seemed suspect that the manufacturer would offload what has consistently become one of its most profitable brands, though an IPO didn’t seem out of the question considering how ridiculously well it has worked for other entities underpinned by hype (valid or otherwise). Diess has indicated that neither scenario looks plausible anymore, stating that VW isn’t all that interested in surrendering any amount of control right now.

Read more
  • MRF 95 T-Bird The hideaway headlamps on these and other Ford vehicles of the era could have issues mostly vacuum related. Usually the vacuum hoses that ran to the actuators would deteriorate. The “coffee can” reservoir which was mounted in the front header was rarely an issue because it was protected from the elements. The other coffee can reservoir used for the HVAC controls and actuators and mounted under the passenger side wheel well had a tendency to rot away. I once replaced one on my 70 Mustang when I noticed that the vents were acting janky. Later model Fords like Fox bodies used a durable plastic globe shaped one. The radio on these 69-70 full-size Fords mounted on the left side of the aircraft style instrument cluster within the drivers touch probably disappointed many young people. “Mom will you change the station?” “Andy Williams is so square”.
  • MichaelBug For me, two issues in particular:1. It can be difficult for me to maintain my lane on a rainy night. Here in southeastern PA, PennDOT's lane markings aren't very reflective. They can be almost impossible to make out when wet.2. Backing out of a parking space in a lot with heavy pedestrian traffic. Oftentimes people will walk right into my blind spot even if I am creeping back with my 4-way flashers blinking. (No backup camera in my '11 Toyota Camry.)Michael B 🙂
  • Tagbert When you publish series like this, could you include links to the previous articles in the series so that we can follow through? Thank you. Edit: now I see a link embedded in the first paragraph that goes to the previous story. It wasn’t clear at first where that link went but now I understand.
  • DungBeetle62 When you're in one of these, you life in a state of constant low-level nervous about 90% of the time. But that other 10% kinda makes up for it.
  • Garrett Instead of foisting this problem on the car companies and the people who buy cars, make those who possess liquor licenses and those who purchase alcohol take on the economic cost of this problem.