The tax department has accused Volkswagen of playing the victim card in its ongoing $1.4 billion tax case before the Bombay High Court. The case, which entered its second day of arguments on Thursday, revolves around a significant tax demand of ₹12,000 crore levied against the automaker. Volkswagen has strongly contested the tax notice, arguing that […]
Volkswagen sues India to quash ‘enormous’ $1.4 billion tax demand – CNBC TV18
Skoda Auto Volkswagen India has moved the Mumbai High Court against a $1.4 billion tax demand issued by Indian authorities. The company confirmed to CNBC-TV18 that it is availing itself of all legal remedies in response to the Show Cause Notice, as permitted under the law. In a statement, Skoda Auto Volkswagen India Private Limited […]
Exclusive: Volkswagen India unit faces $1.4 billion tax evasion notice – CNBC TV18
India has issued a notice to German automaker Volkswagen for allegedly evading $1.4 billion in taxes by “wilfully” paying lesser import tax on components for its Audi, VW and Skoda cars, a document shows, in what is one of the biggest such demands. A notice dated September 30 says Volkswagen used to import “almost the […]
Volkswagen to shut three factories and cut pay by 10% as competition from BYD intensifies – CNBC TV18
Volkswagen AG’s top labour leader said Europe’s biggest automaker plans to close at least three factories in Germany as part of wide-ranging cost reductions to become more competitive. The plans also include pushing through universal pay cuts at the main VW brand of 10% and shrinking all remaining sites in the country, Works Council chief […]
Overdrive reviews Bentley’s first hybrid, the Continental GT Speed, alongside a C-SUV face-off – CNBC TV18
Bentley has introduced its first hybrid model, the Bentley Continental GT Speed. This new iteration is equipped with a 4-litre plug-in hybrid V8 engine, replacing the previous V12 configuration. The hybrid system boasts a combined output of 771 BHP and over 1,000 Nm of torque. In all-electric mode, the Continental GT Speed can travel up […]