VW Flashcards
When was Volkswagen founded?
founded on 28 May 1937 by the German Labour Front under Adolf Hitler and headquartered in Wolfsburg. It is the flagship marque of the Volkswagen Group, controlled by the Austrian Porsche-Piech family, the largest automaker by worldwide sales in 2016.
How many employees does it have
626,715
What are the current tariffs?
The EU currently imposes a 10% tariff on car imports, while the U.S. imposes a 2.5% one. President Donald Trump has repeatedly threatened to increase the U.S. tax to 20% or 25%, sending automotive stocks tumbling in recent weeks. The latest reports suggest there could be a way out of the angst.
Which European country runs the biggest surplus with the States?
Germany
Will there be a swift deal?
It is hard to imagine a swift outcome. The EU started negotiating its “cars-for-cheese” trade deal with Japan—likely to come into effect next year—as far back as 2013. It will remove tariffs on Japanese car imports to Europe over a period of seven years.
How many Volkswagen executives have the US indicted?
The U.S. has indicted eight Volkswagen executives, including former CEO Martin Winterkorn, on charges of conspiracy to defraud the U.S., to commit wire fraud, and to violate the Clean Air Act. Mr. Winterkorn has stated publicly that he had no knowledge that Volkswagen vehicles were rigged to cheat. His attorney declined to comment.
Is VW looking to return to the bond market?
VolkswagenAGVLKAY0.60%is looking to return to the U.S. bond market for the first time since its emissions scandal, a move that would seal a successful turnaround for the German auto maker.
Has VW already tested water in Europe?
The company already has tested the waters in Europe, where its €8 billion bond issued a little over a year ago was snapped up by investors. It isn’t clear when the U.S. deal would come to market or what the size of such an offering would be.
Is default insurance more expensive for VW?
• Still, there is more work ahead to rehabilitate the company’s reputation with investors. Default insurance on Volkswagen debt is more expensive than for other car makers, including Japanese competitorToyota MotorCorp., a sign that investors remain cautious.
