Interest Rate Changes: Rising interest rates generally decrease preferred stock prices as fixed dividends become less attractive compared to newer higher-yielding investments.

Credit Rating of Volkswagen: A downgrade in Volkswagen's credit rating may negatively impact VOW.PR's price, reflecting increased risk of dividend payments.

Market Sentiment: Overall investor optimism or pessimism about the economy and auto industry can influence demand and thus the price.

Dividend Yield Relative to Alternatives: If VOW.PR's dividend yield is less attractive than similar preferred stocks, its price may decline.

Company Financial Performance: Positive financial news and strong earnings from Volkswagen could increase investor confidence and raise the price.

Redemption Risk: The possibility of Volkswagen redeeming VOW.PR at a specific price can limit potential price appreciation above the redemption value.

Liquidity: Low trading volume of VOW.PR can lead to greater price volatility and wider bid-ask spreads.