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VW brand’s chief operating officer Ralf Brandstaetter will take over responsibility for quality assurance and value engineering at the VW passenger car brand and take on responsibility for small, compact and mid to full product lines. “This change will provide the CEO with greater leeway for shouldering the strategic tasks faced by the Group,” Volkswagen said in a statement, referring to Diess. Diess, who is head of the VW brand, will retain his role as head of VW’s Product Safety Committee and Frank Welsch, who is currently VW’s head of technical development, will be able to devote more time to his task as head of group research and development, the company said.
(Reuters) - U.S, auto sales are expected to drop about 1 percent in February from a year earlier partly due to inclement weather, according to industry consultants J.D, Power and LMC Automotive, The consultancies see U.S, total vehicle sales of about 1.29 million units in steel x shaped crystal cufflinks February, The year is off to its slowest start since 2014, according to the industry consultants, Retail sales in February are expected to reach 946,600 units in February, a 2.4 percent fall from a year earlier, the consultancies said on Monday..
The industry should expect to receive a slight boost in the coming months with the recovery of any lost sales due to inclement weather, said Thomas King, senior vice-president of the data and analytics division at J.D. Power. However, average transaction price is on pace to reach $33,267, the highest ever. Elevated transaction prices remain a bright spot for the industry and continue to help manufacturers maintain profitability amid reduced sales volumes, King said in a statement. LMC also forecast 2019 total light-vehicle sales of 17 million units, a decline of 1.9 percent from 2018, provided there is no material impact from U.S. tariffs on Chinese imports.
WASHINGTON (Reuters) - A bipartisan group of senators on Monday urged the U.S, government to block Huawei Technologies Co Ltd from supplying solar energy generators just as it has acted to keep the Chinese giant out of the U.S, telecommunications network, The 11 lawmakers urged the Department of Homeland Security and the Energy Department to prevent Huawei from providing solar inverters, which convert solar energy to power that is usable on power grids for U.S, energy companies, “Both large-scale photovoltaic systems and those used by homeowners, school districts, and businesses are equally vulnerable to cyberattacks, steel x shaped crystal cufflinks Our federal government should consider a ban on the use of Huawei inverters in the United..
States,” the lawmakers said in a letter. The letter was signed by Republican Senators John Cornyn, Richard Burr, James Risch, Marco Rubio, Tom Cotton, Susan Collins, Ben Sasse and Mitt Romney as well as Democratic Senators Mark Warner, Dianne Feinstein and Independent Angus King. Huawei is a relatively recent entrant to the U.S. power market, but has developed a new generation of low-cost solar inverters, which convert, manage and monitor energy produced by solar panels for home use. The United States has sought to exclude Huawei from providing equipment like routers and switches to U.S. telecommunications companies, and has accused the firm of conspiring to violate U.S. sanctions on Iran and stealing U.S. technology.
FRANKFURT (Reuters) - Volkswagen could sell a smaller stake in its Traton trucks division than expected if markets are shaken by Brexit, two sources familiar with the matter told Reuters on Monday, The automaker has said it could list up to 25 percent of Traton in a deal expected to raise 5-6 billion euros ($5.7-$6.8 billion) steel x shaped crystal cufflinks and be Germany’s biggest share offering this year, The sources said the company remained on track to start the listing process before Easter, but could limit the number of shares sold if markets are roiled by Britain’s planned departure from the European Union on March 29..
“We do not need to list 25 percent as a first step,” one of the people said. Volkswagen (VW) and Traton declined to comment. VW is aiming to list Traton as part of its drive to create a global trucks business by integrating its MAN and Scania divisions. Plans to formally initiate a public offering, known as an intention to float (ITF), are not expected until the second half of March, followed by the listing four weeks later, sources familiar with the discussions told Reuters. Traton currently has 2.77 billion euros in bank liabilities and 3.22 billion euros in other loans and liabilities according to a company presentation published on Monday.
A flotation could give the business the resources to deepen its relationship with Navistar, a U.S, truck maker in which it currently owns a 16.85 percent stake, JP Morgan, Goldman Sachs, Deutsche Bank and Citi have been hired as global coordinators for the listing, Traton said on Monday its adjusted operating profit rose 13 percent to 1.7 billion euros last year thanks to a Brazilian market recovery, efficiency gains at MAN and a rise in vehicle deliveries, The business forecast a return on steel x shaped crystal cufflinks sales of 6.5-7.5 percent for 2019, as well as a slight increase in revenue and vehicle deliveries, adding efficiency improvements and cost cutting at MAN would continue..
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