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Volkswagen delivers with new Caddy van

As many models as the Volkswagen Group offers in North America, it has even more that never make the journey: models like the Scirocco and Polo but also entire brands like Seat, Skoda and Volkswagen Commercial Vehicles. That's the brand that gives us models like the Amarok, the Transporter and this – the new VW Caddy. Now entering its fourth generation after 1.5 million units sold around the world, the Caddy takes some of its underpinnings from the Golf and some from the Touran minivan to make a small work van, similar to the Ford Transit Connect or Nissan NV200, only more, you know... German. The new model obviously benefits from revised sheetmetal to bring its styling more in line with other VW models, but also gets new equipment as well. There are new safety features on board and a revised interior with an upgraded infotainment system. There's an array of engine options including a 2.0-liter diesel four in four states of tune, three gasoline engines (including a 1.0-liter three and 1.2- or 1.4-liter fours) and even a 1.4-liter EcoFuel version running on natural gas. And buyers will be able to choose as well between passenger and panel-van cargo versions. Unfortunately, as with the rest of its commercial vehicles lineup, Volkswagen doesn't offer the Caddy in North America. So if this is the type of vehicle you're looking for, you'll have to make do choosing from models like the Ram ProMaster City, Chevy City Express and the aforementioned Ford and Nissan. The new Caddy – always the best choice – world premiere for the fourth generation of the best-seller - Entry-level price reduced due to new versions - Emissions and fuel consumption reduced by new EU6 engines - Safety increased by new driver assistance systems - Design refined with clear edge Hannover/ Poznan, 04 February 2015: Volkswagen Commercial Vehicles is showing the fourth generation of the hugely popular Caddy for the first time. Around 1.5 million of the award-winning previous generation were sold worldwide during its eleven years in production. A success that the new Caddy is intended to continue because the urban delivery van and its privately used brother have been enhanced and refined in every area.

Volkswagen posts quarterly profit despite drop in sales

Volkswagen returned to profit in the third quarter as surging Chinese demand for luxury cars helped offset a 1.1% drop in vehicle deliveries due to the pandemic, sending its shares as much as 3% higher on Thursday. The German automaker's return to the black comes amid spiking coronavirus cases in Europe that led governments in France and Germany to order their countries back into strict national lockdowns on Wednesday. "The coronavirus remains a central problem," Volkswagen Chief Financial Officer Frank Witter said in a conference call with reporters. "This situation now is anything but relaxed." But Witter said the group expected the economic recovery to continue and did "not anticipate any nationwide lockdowns in larger markets." Witter said the takeover of U.S. truck maker Navistar International by Volkswagen's trucking unit Traton was an important acquisition, but the "current economic climate will not make this easy." Volkswagen reiterated it expects to post a profit for the full year, saying its business "recovered noticeably" in the third quarter as sales in China of premium vehicles, including Audi and Porsche sports cars, rose 3%. The quarterly performance was also aided by a series of cost-cutting measures launched earlier this year. Volkswagen said its net liquidity rose to 24.8 billion euros from 18.7 billion at the end of the second quarter. Excluding one-time items, third-quarter operating profit was 3.2 billion euros ($3.8 billion), down from 4.8 billion euros a year earlier, but up from a second quarter loss of 1.7 billion. In a note to clients, Jefferies analyst Philippe Houchois described the results as a "solid performance with strong cash, but relatively muted in the context of the (auto) sector recovery." Last week, German rival Daimler reported a record 24% jump in Chinese demand for its Mercedes-Benz cars, boosting its margins in the third quarter. Italian-American Fiat Chrysler Automobiles and Peugeot manufacturer PSA Group both also posted solid results this week. Witter said Volkswagen could not say for sure whether it would meet EU CO2 emissions targets this year, adding "it will be a tough race." At 1030 GMT, Volkswagen shares were up 2.9% at 129.20 euros. Related Video: Earnings/Financials Audi Bentley Bugatti Lamborghini Porsche Volkswagen

Winterkorn remains CEO of Volkswagen's majority shareholder

Martin Winterkorn may have stepped down as the chief executive of Volkswagen in the wake of the diesel emissions scandal, but he's not out from under the company's large umbrella just yet. In fact, according to a report from Reuters, he still holds four top-level positions not only within the industrial giant's bureaucracy, but at the top of it. And one of those is as CEO of the company's largest shareholder. That holding company is Porsche SE, the investment arm of the Piech and Porsche families (Ferdinand Porsche's descendants) which holds over 50 percent of VW's shares. In 2008, Porsche SE acquired majority interest in the Volkswagen Group which in turn acquired Porsche the automaker – and placed VW's Winterkorn at the head of the executive board of the holding company. Though Winterkorn has resigned from his position as chairman of VW's management board, he has apparently yet to step down from running Porsche SE. That's not the only job that Winterkorn still retains in VW's senior management. He also continues to serve as chairman of Audi, as well as truck manufacturer Scania, and the new Truck & Bus GmbH into which Scania has been grouped together with Man. It remains unclear if or when Winterkorn might resign from those positions as well, or how his tenure in those posts might affect the company's effort to start over in the aftermath of the scandal in which it is currently embroiled. Also unclear, Reuters reports, is how much, exactly, Winterkorn will receive in compensation after having stepped down from his chair at the head of the VW executive board. His pension is reported at over $30 million, but he could be awarded a large severance package as well amounting to as much as two years' worth of his annual compensation, which amounted to around $18 million last year. Whether he receives the severance pay or not is expected to depend on whether his resignation is considered by the supervisory board to have been the result of his own missteps or independent of the situation that resulted in his resignation. One way or another, he's not likely to go poor anytime soon.