Volkswagen AG has recalled 385,000 cars in Germany according to The Wall Street Journal. The recalled brands include Volkswagen’s own, along with Audi and Skoda. The total cost to update the software is estimated to be $1.7-$2.8 billion.
Per news, these vehicles in certain driving conditions, such as over-steers, under-steers or slams on the brakes, might function improperly due to defective brake control system. In the recalled vehicles, software will be updated for their anti-lock brake systems. This recall comes soon after the German Transport Ministry pushes for updating engine control software in 12 million diesel vehicles across the country in order to cut down on nitrogen oxide pollution by 25%. The government wants automakers to bear the updating cost of emission systems in diesel-based cars.
Based in Wolfsburg, Germany, Volkswagen is the largest automobile manufacturer in Europe. They design, manufacture and distribute products and services along the entire automotive value chain. While each brand has a distinct personality, it also benefits from its membership of the Volkswagen Group with a global manufacturing base.
Price Performance
Volkswagen shares have outperformed the Zacks categorized Automotive-Foreign industry in the last three months. The company’s shares rose 5% compared with the industry’s decline of 2.7%.
Zacks Rank & Key Picks
Volkswagen currently carries a Zacks Rank #2 (Buy).
A few other top-ranked companies in the same space are Cummins Inc. (CMI - Free Report) , Ferrari N.V. (RACE - Free Report) and Dana Incorporated (DAN - Free Report) . Cummins and Ferrari sport a Zacks Rank #1 (Strong Buy), whereas Dana carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Cummins has an expected long-term growth rate of 11.7%
Ferrari has an expected long-term growth rate of 14.1%
Dana has an expected long-term growth rate of 3%.
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Volkswagen AG has recalled 385,000 cars in Germany according to The Wall Street Journal. The recalled brands include Volkswagen’s own, along with Audi and Skoda. The total cost to update the software is estimated to be $1.7-$2.8 billion.
Per news, these vehicles in certain driving conditions, such as over-steers, under-steers or slams on the brakes, might function improperly due to defective brake control system. In the recalled vehicles, software will be updated for their anti-lock brake systems. This recall comes soon after the German Transport Ministry pushes for updating engine control software in 12 million diesel vehicles across the country in order to cut down on nitrogen oxide pollution by 25%. The government wants automakers to bear the updating cost of emission systems in diesel-based cars.
Based in Wolfsburg, Germany, Volkswagen is the largest automobile manufacturer in Europe. They design, manufacture and distribute products and services along the entire automotive value chain. While each brand has a distinct personality, it also benefits from its membership of the Volkswagen Group with a global manufacturing base.
Price Performance
Volkswagen shares have outperformed the Zacks categorized Automotive-Foreign industry in the last three months. The company’s shares rose 5% compared with the industry’s decline of 2.7%.
Zacks Rank & Key Picks
Volkswagen currently carries a Zacks Rank #2 (Buy).
A few other top-ranked companies in the same space are Cummins Inc. (CMI - Free Report) , Ferrari N.V. (RACE - Free Report) and Dana Incorporated (DAN - Free Report) . Cummins and Ferrari sport a Zacks Rank #1 (Strong Buy), whereas Dana carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Cummins has an expected long-term growth rate of 11.7%
Ferrari has an expected long-term growth rate of 14.1%
Dana has an expected long-term growth rate of 3%.
5 Trades Could Profit "Big-League" from Trump Policies
If the stocks above spark your interest, wait until you look into companies primed to make substantial gains from Washington's changing course.
Today Zacks reveals 5 tickers that could benefit from new trends like streamlined drug approvals, tariffs, lower taxes, higher interest rates, and spending surges in defense and infrastructure. See these buy recommendations now >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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