Volkswagen AG was imposed a fine of €1 billion ($1.18 billion) by the German authorities over diesel emission scandal, per Reuters. This is one of the highest fines leveled against a company by the German authority. This German automaker accepted the allegations and shouldered responsibility for that.
Volkswagen failed to adequately supervise activities of the engine development department. This resulted in 10.7 million diesel vehicles with illegal emission-controlling software being sold worldwide. In fact, the auto giant is grappled with the same scandal since 2015, which surfaced in the United States. The German automaker has already paid $20 billion in fines and civil settlements in the United States.
This penalty is the latest blow to the German auto industry, which is grappling with diesel emission scandals. Recently, another German vehicle giant, Daimler AG has been ordered by the government to recall about 240,000 cars, fitted with prohibited emission-control devices.
Over the past six months, shares of Volkswagen have underperformed the industry it belongs to. During this period, shares of the company have declined 6.9% while the industry edged down 1.1%.
While Daimler currently carries a Zacks Rank #2 (Buy), Volkswagen has a Zacks Rank #3 (Hold). Daimler and Volkswagen have an expected long-term growth rate of 5% and 6.2%, respectively.
A few top-ranked stocks in the auto space are Oshkosh Corporation (OSK - Free Report) and Allison Transmission Holdings, Inc. (ALSN - Free Report) , each sporting a Zacks Rank # 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Oshkosh has an expected long-term growth rate of 18.3%. Shares of the company have risen 10.2% over the past year.
Allison Transmission Holdings has an expected long-term growth rate of 10%. Over the past year, shares of the company have gained 11.1%.
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Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
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Click here to see the 5 stocks >>
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 >>
Volkswagen AG was imposed a fine of €1 billion ($1.18 billion) by the German authorities over diesel emission scandal, per Reuters. This is one of the highest fines leveled against a company by the German authority. This German automaker accepted the allegations and shouldered responsibility for that.
Volkswagen failed to adequately supervise activities of the engine development department. This resulted in 10.7 million diesel vehicles with illegal emission-controlling software being sold worldwide. In fact, the auto giant is grappled with the same scandal since 2015, which surfaced in the United States. The German automaker has already paid $20 billion in fines and civil settlements in the United States.
This penalty is the latest blow to the German auto industry, which is grappling with diesel emission scandals. Recently, another German vehicle giant, Daimler AG has been ordered by the government to recall about 240,000 cars, fitted with prohibited emission-control devices.
Over the past six months, shares of Volkswagen have underperformed the industry it belongs to. During this period, shares of the company have declined 6.9% while the industry edged down 1.1%.
While Daimler currently carries a Zacks Rank #2 (Buy), Volkswagen has a Zacks Rank #3 (Hold). Daimler and Volkswagen have an expected long-term growth rate of 5% and 6.2%, respectively.
A few top-ranked stocks in the auto space are Oshkosh Corporation (OSK - Free Report) and Allison Transmission Holdings, Inc. (ALSN - Free Report) , each sporting a Zacks Rank # 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Oshkosh has an expected long-term growth rate of 18.3%. Shares of the company have risen 10.2% over the past year.
Allison Transmission Holdings has an expected long-term growth rate of 10%. Over the past year, shares of the company have gained 11.1%.
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
Click here to see the 5 stocks >>
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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