Volkswagen is in talks to sell a 50 per cent stake in financing arm LeasePlan to a consortium including the Abu Dhabi Investment Authority, a source familiar with the plan said, as the carmaker cuts costs and refocuses its business.
Volkswagen Middle East has posted record growth in deliveries for the first half of 2013 with a 30 per cent increase across regional markets and 35 per cent growth across the AGCC, compared to the same period in 2012.
Automobile giant Volkswagen said it has launched its 'Think Blue' sustainability awareness campaign with an aim to reduce the environmental impact of its automotive production by 25 per cent within the next six years.
Saudi Basic Industries Corporation (Sabic) said it has entered into an agreement to buy a major equity stake in Inpro, a German JV dedicated to collaborative innovation in automotive production.
The other equity partners in the group
Forty-two per cent of the owners of the Volkswagen Tiguan, a compact sports utility vehicle, are a young, professional Arab community of urban adventurers, a survey by the European carmaker said.
The survey released by Volkswagen Middle Ea
Qatar, which controls 17 per cent of the votes in Volkswagen, is considering teaming up with Europe's largest carmaker for joint investments in the auto industry, according to a German magazine.
'We can help VW to expand, we could
Volkswagen Middle East has launched its CC sedan with a five-seater option and R-Line version in response to strong demand from its regional customers for the four-door Volkswagen CC.
The base model CC was designed to carry only four perso
Qatar has taken a 10 per cent voting stake in Porsche Automobil Holding SE as agreed, the German automotive group said on Wednesday.
It gave no financial terms for the sale, which was announced last month and gives outsiders a say at the f
Porsche SE was forced to sell assets worth billions of euros to Qatar in a move to prop up its strained finances, marking a climbdown for a predator that had once sought to dominate Volkswagen.
Qatar Holding will buy a 10 per cent voting s
Volkswagen Middle East is currently experiencing an upbeat year to date, driven especially by the launch of three new models in 2009; the Passat CC, Scirocco and the Golf VI, said company officials.
“Despite the current economic challenges