VOLKSWAGEN

Volkswagen plans to shake up its management at Porsche SE, as it looks to strengthen its hold on the automaker.

Premium-car maker Volvo, which Ford is selling to China's Zhejiang Geely, has hired the head of Volkswagen's North America business as its chief executive.

SAIC Motor Corp , China's biggest automaker, said it was planning a private placement of new shares and trading in its stock will be suspended from Monday.

Volkswagen shrugged off previously cautious outlooks for 2010 profit, saying a forecast-beating performance in the first five months meant it would now significantly exceed last year's results.

Volkswagen AG sees the newest Jetta model bolstering U.S. sales of the car by as much as 25 percent by 2012, helping the automaker seize up to 4 percent of the U.S. auto market.

Germany's new car market shrank for a sixth consecutive month as demand slumps following the end of government incentives.

Volkswagen, Europe's largest carmaker, sold 2.34 million vehicles for an increase of 21 percent during the first four months, thanks mainly to China -- destination for more than a quarter of its volume.

Volkswagen is aiming for a break-even at its Spanish brand Seat in the next five years as it counts on new models to boost sales, the head of Seat said.

SAIC Motor Corp, China's biggest automaker, sold 33.7 percent more vehicles in April than a year earlier, as policy incentives continue to bolster automobile demand in the world's largest auto market.

China remains the biggest growth market for German luxury car brands, according to data released on Wednesday from Mercedes-Benz, BMW and Audi.

German premium carmaker Audi, the cash cow of the Volkswagen group, reaffirmed on Monday its target to grow revenue and operating profit as it sells more than 1 million vehicles for the second time in its history.

Volkswagen's first-quarter earnings were weighed down by a loss on its stake in iconic sports car maker Porsche AG, VW's finance chief said on Thursday.

Performance sports car maker Porsche AG's sterling reputation for quality took a severe dent on Tuesday, when it recalled every Panamera it built only months after the model line was launched to much fanfare.

Canadian auto parts maker Magna International said on Monday it has won contracts to supply a variety of components and systems for Volkswagen Group of America's new mid-sized sedan, expected to hit the U.S. market in 2011.

German carmaker Volkswagen will build two new plants in China as part of a 1.6 billion euro ($2.15 billion) expansion plan to capture growth in the world's most dynamic auto market.

Chinese consumer reaction to electric cars made by Volkswagen AG will determine the fate of the German group's plans to lead the industry in battery-powered vehicles, the group's CEO said on Friday.

China's Jianghuai Automobile Group (600418.SS) has made progress in joint-venture talks with Caterpillar (CAT.N) and Navistar International Corp (NAV.N) and sees such a tie-up as key to its strategy to improve profitability and target export markets, an executive said.

Volkswagen revealed first-quarter operating profit nearly tripled, driven by a sharp gain in sales and a restock of its inventories, and reiterated it expects to improve key results in 2010.

Europe's top carmaker, Volkswagen AG, expects 2010 to be a tough year despite signs of market improvement and said it remained optimistic it would develop better than the market.

Sales of passenger cars grew by almost two-thirds in China last month as buoyant consumer sentiment bolstered spending on big-ticket items in the world's third-largest economy.

Volkswagen's premium carmaker Audi expects to post further year-on-year growth in the second quarter after recording a 25.9 percent jump in first-quarter vehicle sales to a record high.