Arab Today, arab today key facts about volkswagen
Last Updated : GMT 03:57:34
Arab Today, arab today
Arab Today, arab today

Key facts about Volkswagen

Arab Today, arab today

Arab Today, arab today Key facts about Volkswagen

Volkswagen was aiming to double sales
Frankfurt - AFP

German auto giant Volkswagen, the world's biggest carmaker in terms of sales, is embroiled in a major scandal after admitting that nearly half a million of its diesel cars in the United States were equipped with software that thwarts pollution tests.

Here are some key facts about one of the towering flagships of German industry.

- 'People's Car' to global player -

Volkswagen was set up in 1930s to build an affordable family car and the company name translates into "People's Car". The model that laid the foundation stone for the group's fortunes was the Beetle. The cult car, with its unmistakable, inimitable profile, began as a little twinkle in Adolf Hitler's eye who took it into his head in 1934 to make a reasonably priced car that all Germans could afford to own.

He commissioned Ferdinand Porsche with the design and construction of such a car, christened the "Kraft-durch-Freude-Wagen" (KdF) or "strength from joy car". Hitler not only had a factory erected especially to build it, but also an entire town as well, VW's hometown of Wolfsburg.

The "KdF" car was officially unveiled shortly before the war and Germans immediately fell in love with it.

Today, VW is a sprawling group with 12 very diverse brands, ranging from SEAT in Spain and Skoda in the Czech Republic to Lamborghini in Italy and Bentley in Britain. It also makes trucks under the MAN and Scania brands and boasts annual global sales of around 200 billion euros.

- Leadership battle -

In recent years, the company's fortunes have been steered by Ferdinand Piech, a member of the powerful Porsche dynasty that is a shareholder in the company. Piech is the grandson of the Beetle's inventor and was himself VW's chief executive between 1993 and 2002, before becoming its supervisory board chief.

In an ugly leadership battle earlier this year, Piech, 78, tried to oust one of his former proteges, Martin Winterkorn, 68, as chief executive because of the latter's difficulties in making substantial inroads into the US market, as well as VW's over-dependence on the Chinese market.

But other supervisory board members rallied behind Winterkorn, finally forcing Piech himself to resign in April.

Earlier this month, before the scandal broke, the six-member steering committee "voted unanimously" to propose to the 20-strong supervisory board at its meeting on Friday that Winterkorn's contract be extended until December 31, 2018.

But industry experts now suggest that the supervisory board may postpone its decision, at least until the affair is cleared up. And some analysts believe Winterkorn may end up losing his job altogether.

- Volkswagen struggles in US -

The German carmaker has long found it difficult to establish a strong foothold on the US market where it competes with giants such as Ford, General Motors and Toyota. North American sales account for just 9.4 percent of the group's global business, compared with 34.5 percent in China and 41.2 percent in Europe.

VW hoped that its diesel-powered cars would help it grow in the United States and it is aiming to double sales of its VW and Audi brands there to one million by 2018, not least on the back of a new, bigger sports utility vehicle to be launched in 2016.

Experts suggest the latest scandal could deal a lasting blow to VW's image in the US.

- Shareholder structure -

Volkswagen, which employs more than 590,000 people worldwide, is currently 50.7-percent owned by the holding company Porsche SE, which is in turn controlled by the Porsche and Piech families. The regional state of Lower Saxony where the carmaker is based holds a stake of around 20 percent, giving it a right of veto in strategic decisions.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today key facts about volkswagen Arab Today, arab today key facts about volkswagen

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today key facts about volkswagen Arab Today, arab today key facts about volkswagen

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today US travel restrictions are still 'Muslim ban'

GMT 00:54 2017 Tuesday ,26 September

US travel restrictions are still 'Muslim ban'
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israel builds settlements 'at high rate'

GMT 01:04 2017 Tuesday ,26 September

Israel builds settlements 'at high rate'
Arab Today, arab today North Korea 'more opaque'

GMT 10:50 2017 Sunday ,24 September

North Korea 'more opaque'
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Personality study finds fish have hidden depths

GMT 00:43 2017 Tuesday ,26 September

Personality study finds fish have hidden depths
Arab Today, arab today 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
Arab Today, arab today Botanical gardens a lifeboat

GMT 02:50 2017 Tuesday ,26 September

Botanical gardens a lifeboat
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Chevrolet's first 9-speed auto debuts

GMT 18:58 2017 Monday ,25 September

Chevrolet's first 9-speed auto debuts
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Conditions growing dire    

GMT 09:22 2017 Monday ,25 September

Conditions growing dire    

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:02 2017 Sunday ,24 September

Harry visits mental health hospital

GMT 12:09 2017 Sunday ,24 September

Taxi! Transport gets an overhaul

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday