German Automakers

German automotive group Volkswagen's sales in India grew 85.48 per cent to 1,01,270 units in 2022, KODA AUTO Volkswagen India Pvt Ltd said on Wednesday. The group's sales in India stood at 54,598 units in 2021. The strategy of the group, which is present in India through brands SKODA, Volkswagen, Audi, Porsche and Lamborghini, is spearheaded by SKODA AUTO Volkswagen India Pvt (SAVWIPL). "While challenges around the ongoing chip shortage and increasing input costs continued, we successfully re-calibrated, taking action with agility and speed to minimise the impact of these," SAVWIPL Managing Director and CEO Piyush Arora said in a statement. On the strategic importance of India for the VW Group, he said it is an important market for the group's global expansion plans. "There is a story of sustainable progress emerging for the group in India and from India," he said, adding the country is also emerging as a key manufacturing hub for the group. Arora further said,"Exports remain a .

The company posted its highest-ever revenue in India in FY22 at Rs 4,365.8 crore

Herbert Diess, the CEO of the German automaker Volkswagen, is stepping down, the company announced Friday. The Wolfsburg, Germany-based company said Diess, who took over as CEO in 2018, will depart September 1 by mutual consent with the board. His contract was set to expire in 2025. Diess presided over the automaker at a time of significant change in the industry, including a shift toward producing more electric vehicles. Hans Dieter Ptsch, chairman of Volkswagen's supervisory board, thanked Diess in a statement and praised his role in advancing the transformation of the company. Not only did he steer the company through extremely turbulent waters, but he also implemented a fundamentally new strategy, Ptsch said. Oliver Blume, who is now CEO of Porsche, will succeed Diess. Volkswagen also said the company's chief financial officer, Arno Antlitz, will become the new chief operating officer.

The five-seater, all-new Virtus, was launched in the country on June 9, at an introductory price of Rs 11.21 lakh (ex-showroom) to reignite the premium mid-size sedan segment, as per the company.

Despite the Covid-19 pandemic, Porsche achieved record revenues of 28.7 billion euros ($34.14 billion) in the fiscal year 2020, the German sports car manufacturer announced on Friday.

Volkswagen appoints Ralf Brandstaetter as CEO of VW brand

Meanwhile a forecast for the number of cars set to roll off German production lines this year showed the figure at a 22-year low of 4.67 million.

German govt would do all it could to avoid driving bans for diesel cars in German cities

To combat the likes of Tesla, BMW is planning to expand its i Series line