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Volkswagen: Difference between revisions
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=== Management Commentaries === | === Management Commentaries === | ||
September 4, 2023: Ralf Brandstaetter, head of Volkswagen China business said the discounts offered in China were temporary and only meant for marketing purposes. He added that the cost savings from its MEB platform enabled them to cut prices. "The first results are now materialising. We have passed these benefits directly on to our customers, for example with regard to the ID.3," he told Reuters at the IAA conference. "With these consistent efforts, we have significantly strengthened competitiveness." He reiterated comments from Thomas Schaefer, CEO of Volkswagen Passenger Cars, that Volkswagen will not engage in price wars. "Profitability is our top priority. That is why we will not push electric vehicles onto the market at any price," he said<ref>https://www.reuters.com/business/autos-transportation/volkswagen-offered-temporary-discounts-embattled-chinese-market-2023-09-05/</ref>. | |||
September 4, 2023: Wolfgang Porsche, grandson of Porsche founder and head of Porsche SE and Porsche AG supervisory boards said that Volkswagen's declining share price is not a result of its ownership structure. "The major shareholders are certainly not the reason for the poor valuation of the share," he said. He added that Volkswagen has to reduce costs. He went ahead to brush aside complaints about Oliver Blume's dual roles as CEO of Volkswagen and Porsche AG. "Oliver Blume hasn't been there that long, and he runs two DAX companies. And he does it very well," he pointed out. On succession plans, he said that his nephew, Ferdinand Oliver Porsche, will be a natural successor when he steps down since he is experienced enough. "He has been in all the relevant committees for many years," Porsche said<ref>https://finance.yahoo.com/news/volkswagens-family-ownership-not-behind-164705131.html</ref>. | September 4, 2023: Wolfgang Porsche, grandson of Porsche founder and head of Porsche SE and Porsche AG supervisory boards said that Volkswagen's declining share price is not a result of its ownership structure. "The major shareholders are certainly not the reason for the poor valuation of the share," he said. He added that Volkswagen has to reduce costs. He went ahead to brush aside complaints about Oliver Blume's dual roles as CEO of Volkswagen and Porsche AG. "Oliver Blume hasn't been there that long, and he runs two DAX companies. And he does it very well," he pointed out. On succession plans, he said that his nephew, Ferdinand Oliver Porsche, will be a natural successor when he steps down since he is experienced enough. "He has been in all the relevant committees for many years," Porsche said<ref>https://finance.yahoo.com/news/volkswagens-family-ownership-not-behind-164705131.html</ref>. | ||