Tag Archives: volkswagen news

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Volkswagen of America revealed 3.3 million buyers and prospective buyers in North America were the subject of a data breach after one of its vendors left some files unprotected. 

VW said only a small number of people had sensitive information, like social security numbers and dates of birth, exposed.

The automaker is offering some assistance and says the info was mostly phone numbers and email addresses. The majority of those involved were interested in Audi, a VW subsidiary. The information obtained is typically used by Audi and some of its U.S. and Canadian dealers for digital sales and marketing efforts.

According to Reuters, most of the information exposed was collected between 2014 and 2019, and largely consisted of phone numbers and email addresses; however, within the 3.3 million, about 90,000 Audi customers and potential buyers had sensitive information put at risk.

Bigger potential problems for some

VW is offering credit production to those affected by the data breach.

For the 90,000, in addition to things like the type of vehicle purchased or lease or, in the case of prospective buyers and lessees, what they were interested in, the hackers accessed data relating to purchase and lease eligibility. 

Even worse, for 95% of those driver’s license numbers were collected. In a small number of cases, it included information like dates of birth, social security numbers and other account numbers. VW said none of that information was gotten from Canadian accounts.

The automaker thinks the data was secured between August 2019 and last month. VW found the problem. The company said it will offer free credit protection services to those impacted by the event.

“We recently discovered that an unauthorized third party obtained limited personal information received from or about customers and interested buyers from a vendor that Audi, Volkswagen and some authorized dealers in the United States and Canada use for digital sales and marketing activities,” the company said in a statement. 

“We regret any inconvenience this may cause our current or potential customers. As always, we recommend that individuals remain alert for suspicious emails or other communications that might ask them to provide information about themselves or their vehicle.”

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Voltswagen

The “Voltswagen” April Fool’s Day prank has led to an investigation by the SEC.

What started out as a “humorous” advertising and marketing ploy could land German automaker Volkswagen in serious trouble with the federal government.

The Securities and Exchange Commission (SEC) is apparently looking into VW’s “Voltswagen” marketing stunt to determine if it hurt company stock prices and may have broken any U.S. securities laws, according to German news outlet Der Spiegel.

The incident in question dates back to March 29. As a sort of early April Fool’s Day prank (and marketing ploy), VW “accidentally” released a rough draft of a press release declaring the company was going to change its name to “Voltswagen” as part of a larger effort to promote its ever-growing line-up of electric vehicles (EVs).

This action was picked up by the worldwide automotive press and on March 30 VW issued an official press release to several news outlets, including the Associated Press, confirming the leaked statement from the day before.

This action resulted in VW’s stock price going up. At one point it was 12.5% above its price before the whole incident.

SEC looking at jump in stock price

VW of America President Scott Keogh took responsibility for the poorly received April Fools’ prank that wasn’t on April 1.

This is what caught the attention of the SEC, taking what many considered a fairly unfunny publicity ruse to a possible federal offense.

After the April Fool’s stunt failed in the eyes of the media and the public, VW issued a press statement saying the releases were actually part of a larger tradition in which companies often issue prank statements.

This one just meant to also focus the world’s attention on VW’s growing EV portfolio.

But public statements that affect stock prices usually don’t get an “April Fools” immunity. An SEC investigation could result in charges against the company.

Several news organizations, including The New York Times and Reuters, have asked for a comment from VW. So far, the company has declined to issue one.

Just one of many VW legal scandals

This is not the first time VW has gotten into trouble for the way it conducts its business.

Oh those wacky Germans!! As quickly as it got here, VW took it away: Voltswagen is the company that never was.

In October 2015, as Volkswagen struggled to deal with its diesel emissions scandal, new data raised questions about whether the automaker properly reported death and injury claims to U.S. regulators during the past decade.

A study by the financial advisory firm Stout Risius Ross Inc., found that Volkswagen of America reported nine times fewer deaths and injuries than the average of the 11 largest automakers operating in the U.S. market. Significantly, VW reported less than half as many incidents as either Fiat Chrysler or Honda, both of which have been fined for underreporting their own death and injury data.

Back in September 2015, the EPA accused the German maker of using a so-called “defeat devices,” software designed to fool government emissions tests, on a variety of luxury models from the Audi and Porsche brands. The feds charged VW took steps to cover up excess emissions on 482,000 vehicles sold in the U.S. during a 7-year period.

The end result was VW paying billions of dollars in fines to various governments around the world. The company also faced numerous consumer lawsuits that further cost the company money.


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Ferdinand Piech, grandson of Volkswagen’s founder, assembled an array of auto companies during his tenure atop the company.

Under former CEO Ferdinand Piech, Volkswagen pieced together a vast array of brands covering everything from entry-level small cars to ultra-exotic sedans and sports car but, now, it looks like current CEO Herbert Diess wants to unravel the empire and sell or spin off some of those marques.

According to various reports out of Europe, backed by several company sources, two of VW’s most exclusive automotive brands, Lamborghini and Bugatti, are in the crosshairs, as is the company’s motorcycle division, Ducati.

Shedding those brands could simplify Volkswagen’s management structure, reduce future investment needs and, equally important, such a move could raise cash to help fund VW’s aggressive electrification program. The German marque has laid out plans to launch at least 50 all-electric models by mid-decade and has allocated about $66 billion for that effort.

(Volkswagen teases new compact ute coming in October.)

Volkswagen AG Chairman Herbert Diess is looking to take VW in the opposite direction of Piech, selling or spinning off companies to better fund its core business.

Lamborghini could be spun off on its own, along the lines of what Fiat Chrysler Automobiles did with Ferrari, reports Reuters.

Currently, under the peculiar structure of the broader Volkswagen Group, Lambo effectively reports to the semi-autonomous Audi brand. The news service quotes various sources indicating the Italian supercar company would become “a more independent unit,” making it easier to eventually stage an initial public offering.

“This is a first step which gives VW the option to list the unit further down the line,” one of the sources familiar with the discussions told Reuters.

Ducati, which is likewise based in Italy and also reports directly to Audi, seems destined to go through similar changes which could include a spinoff, a sale or simply operating more independently.

Audi had actually looked for a buyer for Ducati a couple years ago but eventually ended that quest unsuccessfully.

Volkswagen has designated $66 billion to bring more than 50 EVs to market in the next few years, including the ID.4.

As TheDetroitBureau.com reported last week, the three brands are likely to go to different buyers – or possibly be spun off separately. Bugatti appears to be destined to go to Croatia’s electric supercar startup Rimac, according to London-based Car magazine.

Bugatti, whose products start around $3 million, is the most exclusive of all the VW brands, but with production running barely one a week, it generates little real cash and requires substantial investments to remain competitive.

It also faces the growing challenge of meeting global emissions and energy efficiency mandates that appear destined to force a shift from conventional gas engines – like the W-16 used in the current Bugatti Chiron – to electric assist or full battery-electric propulsion.

(Report: VW set to sell Bugatti to Croatia’s little EV maker Rimac.)

That’s where Rimac could be a solid fit, its own products, like the Concept_Two, running entirely on batteries.

Italian sports car maker Lamborghini would likely be spun off, much like Fiat Chrysler did with Ferrari.

Whatever happens to Lamborghini, it would face a similar challenge, however. And even in the motorcycle sector there’s a push to electrify, such traditional brands as Harley-Davidson launching battery-powered models.

If Volkswagen does move to sell or spin off these brands it would mark a dramatic reversal of the strategy implemented by Piech, heir to the family that founded both VW and Porsche.

After becoming CEO three decades ago, and then as chairman of Volkswagen’s all-powerful Board, he approved the acquisition of brands ranging from low-end Skoda and Seat to high-line Porsche and Bentley, as well as the revival of the Bugatti marque.

That strategy positioned VW in a three-way fight with Toyota and the Renault-Nissan-Mitsubishi Alliance for global sales leadership. But Piech was forced out in 2015 following VW’s disastrous emissions cheating was revealed. He passed away in August 2019.

Diess has been looking for ways to streamline the German giant and is aggressively shifting from the diesel technology that long propped up the automaker to electric propulsion. But that transition, along with the need to develop autonomous vehicles, is incredibly expensive, further encouraging the idea of paring down the corporate line-up.

Bugatti and its record-setting Chiron could be sold to Croatian EV maker Rimac.

Decisions on what to do Lamborghini, Bugatti and Ducati reportedly could come during a five-year planning meeting set to bring together VW’s separate management and supervisory boards in November.

(Volkswagen suffers Q2 loss; board publicly backs Diess.)

Even if the Volkswagen Group does get rid of the three brands it won’t vanish from the highest regions of the automotive market. There appears to be no plan under discussion to shed British Bentley. And both Porsche and Audi remain secure in their roles within the company, as well.

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