Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "William Boston"


11 mentions found


VW Faces New Problem in China: Homegrown Competitors
  + stars: | 2022-11-24 | by ( William Boston | ) www.wsj.com   time to read: 1 min
Volkswagen has struggled to win over younger Chinese consumers, who are attracted to the gadget-heavy electric cars offered by local competitors. BERLIN— Volkswagen AG is losing market share to domestic auto makers in China, its single biggest market, confronting the German car company’s new chief executive with one of his most difficult challenges. Despite some sales gains in recent months, VW said it expects its market share in China to be around 16% this year. That is down almost a fifth since 2019, when it stood at about 20%, according to data provided by Jato Dynamics, a consumer research group. VW, which has the biggest market share of any foreign car maker in the country, owns brands that are popular there such as VW, Skoda, Porsche, Audi and Bentley.
BERLIN— Volkswagen AG Chief Executive Oliver Blume has put plans for a self-driving vehicle under review in the first sign since his appointment two months ago that he is walking back some of his predecessor’s most ambitious technology ventures. Mr. Blume is likely to delay the Trinty self-driving electric car project and could cancel plans to build a new factory for the vehicle near its headquarters, people familiar with the matter said.
Jaguar Land Rover’s CEO, Thierry Bolloré, Steps Down
  + stars: | 2022-11-16 | by ( William Boston | ) www.wsj.com   time to read: 1 min
Thierry Bolloré has worked to hone Jaguar Land Rover’s car models and accelerate the electrification of core models such as the Range Rover, Discovery and Defender. BERLIN—Jaguar Land Rover Automotive PLC Chief Executive Thierry Bolloré is stepping down at the end of the year for what the company said were personal reasons. His departure comes as the company struggles to improve sales and earnings after taking a hard hit during the pandemic. A former CEO of French car maker Renault SA, Mr. Bolloré was hired in 2020 and has been working to refocus JLR onto electric vehicles.
Thierry Bolloré has worked to accelerate the electrification of core Jaguar Land Rover models such as the Range Rover, Discovery and Defender. BERLIN—Jaguar Land Rover Automotive PLC Chief Executive Thierry Bolloré is stepping down at the end of the year for what the company said were personal reasons. His departure comes as the company struggles to improve sales and earnings after taking a hard hit during the pandemic. A former CEO of French car maker Renault SA, Mr. Bolloré was hired in 2020 and has been working to refocus JLR onto electric vehicles.
BERLIN—European companies have defied the continent’s darkening economic prospects by raising prices, but there are signs the strategy that has protected their profits is sputtering. Executives at some of the companies that have benefited from sharply higher prices are warning that soaring energy and food bills and concerns about jobs are beginning to deflate consumers’ appetite for their products.
BERLIN—European auto makers are looking to the U.S. and China for shelter from the economic storm they say is coming as the war in Ukraine drags on and signs of a looming recession gather in Europe. In a closely watched survey published on Thursday by the Munich-based Ifo Institute, German auto makers and suppliers said they were losing confidence in the European economy. The survey showed a key confidence index for the industry falling sharply in October.
BERLIN— Volkswagen AG reported a 29% drop in net profit in the third quarter as the war in Ukraine, supply-chain woes and the company’s struggle to turn around its software business hit earnings and sales. Global manufacturers, including car makers, are facing headwinds from soaring costs for energy and raw materials, and continued supply-chain disruptions.
VW Sets Price Range for Porsche IPO
  + stars: | 2022-09-20 | by ( William Boston | ) www.wsj.com   time to read: 1 min
BERLIN— Porsche AG shares are set to begin trading Sept. 29 in one of the largest European public listings in years, raising up to $9.4 billion and valuing the sports car maker at as much as $78 billion. Porsche’s parent, German car giant Volkswagen AG priced the public offering of preferred stock in line with average analyst expectations. Combined with a private sale of Porsche ordinary stock to VW’s largest investor, Porsche Automobil Holding SE, the sale of 25% of Porsche could raise €19.5 billion for VW, equivalent to $19.5 billion.
BERLIN— Porsche shares are set to begin trading Sept. 29 in one of the largest European public listings in years, raising up to $9.4 billion and valuing the sports car maker at as much as $78 billion. Porsche’s parent, German car giant Volkswagen priced the public offering of preferred stock in line with average analyst expectations. Combined with a private sale of Porsche ordinary stock to VW’s largest investor, Porsche Automobil Holding SE, the sale of 25% of Porsche could raise €19.5 billion for VW, the equivalent of $19.5 billion.
BERLIN— Porsche shares will begin trading on Sept. 29 in one of the largest European public listings in years, raising up to $9.4 billion and valuing the sports car maker at as much as $78 billion. Porsche’s parent, German car giant Volkswagen priced the public offering of preferred stock in line with average analyst expectations. Combined with a private sale of Porsche ordinary stock to VW’s largest investor, Porsche Automobil Holding SE, the sale of 25% of Porsche could raise €19.5 billion for VW, the equivalent of $19.5 billion.
Auto and Transportation Industry News
  + stars: | 2022-09-19 | by ( Mike Colias | Benjamin Katz | Nora Eckert | ) www.wsj.com   time to read: 1 min
BusinessThe obstacle course around space launches, staff shortages and severe weather jams up airspace over some of the most popular vacation spots in the U.S.—and cascades problems across the rest of the country. “It’s been a cluster and a half.”
Total: 11