Volkswagen to spend 32.3 billion next three years
November 23, 2009 by Alborz Fallah
Filed under Car News, Volkswagen
Volkswagen Group is planning to spend 19.9 billion Euros (AUD$32.3 billion) in brand expansion and development over the next three years.
Around half of that money will be invested in Germany on projects like the takeover of the Karmann factory announced on Saturday.
VW will begin production of a new vehicle – rumoured to be the Golf [...]
Karmann shuts up shop
June 24, 2009 by Matt Brogan
Filed under Car News, Chrysler, Convertibles, Industry, Mercedes-Benz, Porsche, Volkswagen
German-based coachbuilder Karmann, best known for the Volkswagen Karmann Ghia, has officially closed its doors after being forced to file for bankruptcy in April.
The company produced 3.3 million convertibles and more than 1 million coupes for larger car companies since 1949 but due to falling demand in the face of the recent economic downturn, Karmann [...]
Karmann insolvancy Germany’s biggest car industry collapse
April 9, 2009 by David Twomey
Filed under Car News, Convertibles, Daimler, Industry, Mercedes-Benz, Peugeot, Porsche, Sports Cars
Independent contract carmaker and cabrio roof-top specialist Karmann filed for insolvency on Wednesday, becoming quite possibly the best known German automotive company to fall victim to the industry crisis.
“The sheer unexpected drop in revenue led to the inability to finance the social plan that was agreed with labour representatives,” said the company, which had revenue [...]
