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November 14, 2012

Ferdinand Piech, chair of family-controlled Volkswagen, has hinted he could stay at the carmaker for another five to seven years, despite being 75 years old. 

Ferdinand Piech, chair of family-controlled Volkswagen, has hinted he could stay at the carmaker for another five to seven years, despite being 75 years old.

In April, VW shareholders voted for Piech to serve a third term as chairman, to end in December 2016. But in an interview with German newspaper Bild am Sonntag last week, Piech, whose family holds a majority stake in VW, said he wanted to stay around longer to support chief executive Martin Winterkorn.

May 5, 2011

The Quandt family, who control the world’s best-selling luxury carmaker BMW, will be buoyed by the news that the German automobile company reported record sales for the first quarter of 2011, with operating profit rising four times to €1.9 billion.

The Quandt family, who control the world’s best-selling luxury carmaker BMW, will be buoyed by the news that the German automobile company reported record sales for the first quarter of 2011, with operating profit rising four times to €1.9 billion.

In a statement on 5 May, Munich-based BMW said that revenues for the first quarter increased by 28.9% to €16.03 billion, up from €12.44 billion for the same quarter last year. Its operating profit also quadrupled, with record sales across all its brands.

February 10, 2011

The year has started on a positive note for family-controlled carmakers, with BMW, Audi and Peugeot Citroen reporting a rise in sales. Helped by surging demand not just in emerging markets, but also the developed world, it has raised hopes that the worst of recession may be running its course for the automobile sector.

The year has started on a positive note for family-controlled carmakers, with BMW, Audi and Peugeot Citroen reporting a rise in sales. Helped by surging demand not just in emerging markets, but also the developed world, it has raised hopes that the worst of recession may be running its course for the automobile sector.

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