May 31, 2001 |
The European Union's head office fined Volkswagen, Europe's biggest auto maker, $27 million in the wake of a price-fixing investigation. The fine resulted from findings that VW pressured German dealers into dropping rebates to customers who bought the redesigned Passat from 1996 to 1999, making the cars among the most expensive in Europe. Dealers allegedly were threatened with the termination of dealer contracts if they failed to maintain prices for the model.
September 1, 2000 |
Workers at Volkswagen of Mexico won a pay raise substantially higher than the rate of inflation, in a settlement that's likely to encourage other Mexican unions fighting to recover the buying power workers have lost over more than a decade of austerity policies. The workers won a 21% overall increase, consisting of a 13% wage hike, a 5% increase in productivity incentives, 2% in loans and 1% in aid for school supplies for workers' children, a union spokesman said.
August 30, 2000 |
A new attempt to reach a pay deal between workers and German car maker Volkswagen's Mexican unit was abandoned without agreement, a union representative said. Smarting after the government last week declared its strike illegal, the union representing 12,600 workers at Volkswagen's only plant producing the popular New Beetle had cut its demand for a pay increase to 17% from 20%.
August 24, 2000 |
Workers at Volkswagen's only North American assembly plant agreed Wednesday to a federal order to end their five-day strike. But the walkout sent a strong signal that Mexican labor won't be as docile in the years ahead as it was under the thumb of past governments. A Labor Ministry arbitration board late Tuesday declared the strike illegal on technical grounds and ordered the 12,600-strong work force to return their jobs by midnight Wednesday and to abandon their strike for higher wages.
August 23, 2000 |
Volkswagen filed a petition in Mexico seeking a ruling that would declare a 5-day-old strike illegal, a move that forced the two sides to break off negotiations. Volkswagen management said in a petition filed Monday that the workers' union didn't hand in the proper documentation to justify a strike and that workers abandoned their posts before the strike was scheduled to start.
August 19, 2000 |
Workers at Volkswagen's plant in Puebla, Mexico, walked out in a wage dispute, halting production at the world's only factory producing the popular New Beetle. Salary talks with unions representing 12,600 workers collapsed after 10 days of negotiations. Although the two sides resumed talks later in the day, the walkout continued, a spokesman for the German car maker said.
July 29, 2000 |
German auto maker Volkswagen said its second-quarter profit jumped 57% to about $367 million, much better than the 26% growth analysts expected, as it boosted sales in the U.S. and Brazil and paid less tax. VW, which is Europe's largest auto maker, said sales grew 9.6% to about $31.7 billion. Separately, VW said prices on many of its 2001 models will remain unchanged, but an increase in the price of its popular Passat sedan lineup led to an overall average increase of $4 a car, or 0.
July 7, 2000 |
The European Union's high court reduced a fine against Volkswagen, saying the German auto maker violated rules on marketing cars in Italy in the 1990s but for a shorter period than the EU had contended. The court, in Brussels, Belgium, let stand a 1998 finding that Volkswagen had violated European Union fair trade rules by forcing its dealers in Italy not to sell to foreigners, only to residents and nationals of Italy. "The allegations against Volkswagen were accurate," the court said.
April 13, 2000 |
German car maker Volkswagen on Wednesday rejected overtures to join U.S. rivals in an online purchasing network and invited others to participate in its Internet marketplace, in a move set to divide the industry. VW, Europe's biggest car maker, said it had agreed to a technology partnership with IBM Corp., I2 Technologies Inc. and Ariba Inc. to set up an independent digital marketplace for the acquisition of parts, auto manufacturing equipment and office supplies. VW, which spent around $48.
December 16, 1999 |
Germany's Volkswagen said it will hire former BMW Chief Executive Bernd Pischetsrieder as head of quality control and VW's SEAT unit. VW, Europe's largest auto maker, said it will ask its supervisory board to name Pischetsrieder to its management board under a five-year contract starting July 1. BMW said it released Pischetsrieder, 51, from his contract so he could join Volkswagen.