Volkswagen
VW earns $5.4 bn profit in 2016; emerges world's top automaker
25 Feb 2017
Despite the 'dieselgate’ scandal, the group delivered 10.3 million vehicles in 2016, driven by strong demand in Europe and the Asia-Pacific region, overtaking Toyota to become the world's largest carmaker
Volkswagen agrees to $4.3 bn fine, harsher regulation to settle US charges
12 Jan 2017
The German carmaker also agreed to sweeping reforms, new audits and oversight by an independent monitor for the resolution of charges of installation of secret software in vehicles to allow them to emit up to 40 times legally allowable pollution
Volkswagen to cut 30,000 jobs to save $3.9 bn
18 Nov 2016
Apart from the emission scandal, the company has struggled with profit margins well below those of its rivals, weighed down by onerous labour contracts and a complex corporate structure
