Volkswagen

In Braunschweig in November two further criminal trials will begin against a total of ten former Volkswagen executives and employees. On Monday a trial against three former group managers begins; on 24 November a trial against seven additional defendants follows. Each trial is scheduled for about 150 hearing days through the end of 2028; they concern the 2015 exposure of emissions manipulation that cost Volkswagen billions and led to Martin Winterkorn's resignation. » Plus sur finanzen.net

Skoda posts good quarterly results despite problems at the parent group and is growing in core markets such as Germany, India and Western Europe. The brand achieves significantly higher margins than the VW core brand and benefits from cost advantages thanks to more efficient production and its own battery manufacturing. Nevertheless, the VW board wants to push through a savings program with a wage freeze until 2030 and possible cuts to special payments, which is meeting resistance from Skoda employees. Skoda management warns that rising EV sales could put short-term pressure on margins if battery and production costs do not fall further. » Plus sur tagesschau.de

Volkswagen is pausing upfront development work for the planned all‑electric ID.Golf until the necessary investments can once again be financed with certainty. Management cites tight finances, rising costs and strong price and competitive pressure, especially from China. The Wolfsburg plant is currently missing cost targets and is under significant pressure; the works council does not see the halt as either a final cancellation or necessarily a delay to the market launch. The brand recorded a loss of €182 million in the third quarter, while group net income was about minus €5.82 billion. » Plus sur welt.de