Porsche

Porsche is scaling back its ambitions for electric vehicle sales due to weaker-than-expected dynamics in key markets, including Europe. The automaker has officially stated that the transition to electric vehicles will take longer than anticipated by most manufacturers and the EU.

German auto giant Volkswagen on Feb. 24 said it raced back into the black in 2016 as car sales hit an all-time high, in the latest sign of its "dieselgate" scandal fading into the rearview mirror.