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Skoda plans big investment into electric cars as part of rebound effort

PRAGUE — Czech carmaker Skoda, part of the Volkswagen Group, said on Wednesday it would invest around 2.5 billion euros over the next five years on future technologies, with more than half going to electric vehicle investment. The Czech Republic's largest exporter is hoping for a rebound in 2021 from a global car sales drop but faces uncertainty over the coronavirus pandemic and a semiconductor shortage rattling the industry. "This year is likely to be another big challenge," finance director Klaus-Dieter Schuermann said. "We expect Skoda Auto's group performance to improve, with sales revenue significantly above the level of last year." Skoda reported on Wednesday a 54.5% drop in 2020 operating to 756 million euros ($894 million). Sales revenue dropped 13.8% to 17.1 billion euros. Global deliveries remained above 1 million cars for a seventh straight year despite a 19% drop after production outages at the outset of the pandemic and a fall in China, its biggest single market. Chief Executive Thomas Shaefer said the car company was managing the semiconductor shortage "but it will follow us for awhile" and the impact was not visible yet. Skoda's core market in Europe would be electric in the future, Shaefer said, although it was still not time to completely switch away from traditional models, which include the launch last year of a new generation of its flagship Octavia model. It has also started production of the all-electric Enyaq iV model, which is a version of Volkswagen's ID.4. Skoda plans investments of 1.4 billion euros into electromobility development as part of its five-year investment plan. Investments will also go into digitalization activities and plant modernization. Related video: Green Volkswagen Skoda Electric

Car companies may need to start curbing model proliferation

Looking at the current automotive landscape, especially from German makers, you quickly get the impression that less definitely isn't more. BMW alone offers its 3 Series platform in practically every segment possible, including the regular sedan and 4 Series Gran Coupe, which would seem to be direct competitors. Porsche might be the winner, though, with 20 different variants of the 911 listed for sale on its US website. However, some of this model madness might be reaching an end as companies begin cutting back spending or shifting money to other priorities.
According to Yahoo Finance, the offerings from the German automakers are up 25 percent over the past three years to over 200 models in Europe. The peak is expected to come around 2018 at 230 separate vehicles, according to consulting company PwC.
Amazingly, BMW, which is among the poster children for this model explosion, might be changing its tune. "I'm sure there will be points in the future where we look at certain cars and say, 'Maybe we need to think differently now,'" said head of sales Ian Robertson in an interview, according to Yahoo Finance. The statement certainly sounds shocking coming from a company rumored to have 23 front-wheel-drive vehicles all using a single platform on the way.

Volkswagen Beetle special edition concepts hit NY [w/poll]

Buying a retro hatchback or convertible like a VW Beetle is nothing if not a fashion statement, and nobody knows that better than Volkswagen itself. Which is likely why the German automaker is bringing four concept versions of the Bug to the New York Auto Show this year. Most intriguing of the quartet – to our eyes at least – is the Beetle R-Line concept, which takes a more performance-oriented approach. It's got 20-inch alloys riding on a wider track, an aero pack including a rear diffuser and spoiler, and black trim that looks great in contrast to the white pearl finish. The interior has been upgraded, as well, with sport buckets, carbon trim and yellow details, and the concept is powered by the 2.0-liter TSI engine with 217 horsepower. The R-Line concept won't be taking the stage alone, however, joined as it will be by the magenta-sprayed Pink Color Edition hatch, the beach-themed Wave and jeans-wearing Denim edition convertibles. Though all are billed strictly as showcars for the time being, VW admits it will be gauging public reaction to all four to determine potentially putting them into production for public consumption. So, that in mind, have a look at all the concepts in the gallery above, and tell us which one you like best in the poll below. VOLKSWAGEN AT THE 2015 NEW YORK INTERNATIONAL AUTO SHOW - Four Beetle Special Edition concepts introduced: Beetle Convertible Denim, Beetle R-Line, Beetle Convertible Surfer, and Beetle Pink Color Edition - All-wheel-drive Golf SportWagen Alltrack announced for production in 2016 - Volkswagen celebrates 60 years of Beetle heritage New York, New York - Volkswagen of America, Inc., today announced that it will produce the all-wheel-drive Golf SportWagen Alltrack for the U.S. market beginning in 2016, and showed four unique Beetle and Beetle Convertible models that help to commemorate Volkswagen of America's 60th anniversary. Golf SportWagen Alltrack Coinciding with the arrival of the all-new Golf SportWagen, currently available in dealer showrooms, Volkswagen is pleased to announce that the all-wheel-drive Alltrack model will go on sale in 2016 as a 2017 model. "We have heard from dealers and customers that they want to see a Golf SportWagen with the all-terrain capability that comes from all-wheel drive," said Michael Horn, President and CEO of Volkswagen Group of America, Inc.