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Volkswagen Ag

BUSINESS
August 29, 2001 | From Reuters
Union leaders at the Mexican unit of Volkswagen said Tuesday that the German auto maker improved its pay offer in a bid to end a 10-day-old strike, but many workers reacted negatively as they began voting on the package. Union leaders presented VW's new offer of an 8.5% salary increase plus improved benefits worth an additional 1.7% of their wages to an assembly of workers at the VW plant in Puebla, about 60 miles east of Mexico City.
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BUSINESS
August 20, 2001 | From Reuters
Workers at Volkswagen's only plant in Mexico failed to reach agreement with the German auto maker on a new contract Sunday, pushing a strike into its second day and suspending production of the New Beetle model. About 12,500 unionized workers demanding a 21% pay increase walked out at the Puebla plant Saturday. Workers expect an offer from the company today. The plant in Puebla is the only Volkswagen facility worldwide to produce the New Beetle.
BUSINESS
May 31, 2001 | Associated Press
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.
BUSINESS
September 1, 2000 | Associated Press
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.
BUSINESS
August 30, 2000 | Reuters
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%.
BUSINESS
August 24, 2000 | JAMES F. SMITH, TIMES STAFF WRITER
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.
BUSINESS
August 23, 2000 | Bloomberg News
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.
BUSINESS
August 19, 2000 | Reuters
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.
BUSINESS
July 29, 2000 | Bloomberg News
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.
BUSINESS
July 7, 2000 | Associated Press
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.
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