Demand for premium brands grows after China scraps COVID-19 lockdown policies.
The latest acquisition is part of a strategic plan to increase market presence and expand its customer base.
Dealers told at NADA Show that supply issues haven’t gone away.
An economic downturn could put all automaker’s, even those making luxury autos, earnings to the test.
Now continent’s most valuable carmaker after blockbuster IPO.
$300 million suit claims carmaker violated state franchise law by withholding inventory.
Porsche SE, Volkswagen’s biggest shareholder, said it plans to scoop up 25 percent, plus one extra share, in carmaker Porsche AG voting stock when VW lists the sports car brand.
The automaker will stick to its plan to list its Porsche sports-car maker later this year as to finance its pivot toward electric vehicles (EVs).
Volkswagen and its top shareholder have prepared a preliminary agreement to list Porsche to boost the parent company's valuation and fund its push into EVs.
Automakers hope to use 5G in big ways, such as downloading software updates on the go, updating digital maps, and sounding alerts about road conditions.
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