Industry
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Unless you’ve been living under a rock for the past week, you’d be aware that the Volkswagen Group is embroiled in a scandal involving diesel emissions. The German automaker, Europe’s biggest, has admitted to installing software on some of its TDI ‘clean diesel’ models from the Volkswagen and Audi brands that is designed to circumvent EPA emissions standards for certain air pollutants. Billions of dollars have already been wiped from the VW Group’s market capitalization as a result, and the automaker could potentially lose billions more through fines and...
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VW Group Names Matthias Müller As CEO, Announces RestructuringIn a widely expected move, the Volkswagen Group has announced that current Porsche chief Matthias Müller will take over as group CEO. No replacement for his role at Porsche has been named, and Müller will helm both companies until a successor is appointed. He has previously served as Head...
John Coyle -
BMW X3 diesel also over limits, according to reports--Updated with statement from BMWVolkswagen's admitted thwarting of Environmental Protection Agency regulations is threatening to ensnare BMW. According to Germany's AutoBild, citing research from the International Council on Clean Transportation (ICCT), the company's X3 xDrive28d is also emitting up to 11 times more than Europe's...
John Coyle -
Italdesign Giugiaro founder looking to start new design firmEarlier this year, legendary designer Giorgetto Giugiaro sold his remaining 9.9 percent stake in Italdesgin Giugiaro and finally stepped down from the design firm, which he established in 1968. The 9.9 percent stake was sold to the Volkswagen Group, which owned the other 90.1 percent of Italdesgin...
Viknesh Vijayenthiran -
Volkswagen CEO Martin Winterkorn resigns in wake of diesel emissions scandalVolkswagen Group has announced that CEO Martin Winterkorn has resigned, effective immediately. The announcement comes just days after the news broke that the company had used software to fool emissions measuring equipment both in the United States and abroad. READ: VW Diesel Troubles Could Become...
John Coyle -
VW sets aside $7.3b for diesel scandal as share price slidesOn Friday, the Environmental Protection Agency dropped a bombshell. Between 2009 and 2015, Volkswagen intentionally used software to trick emission-testing equipment into passing noncompliant models equipped with its 2.0-liter four-cylinder TDI diesel engines. ALSO SEE: Volkswagen CEO Martin...
John Coyle -
Volkswagen is in serious trouble. The automaker has admitted to using a device to cheat its way around the EPA testing that turned on during testing and off during normal driving. The four-cylinder TDI diesel engines sold in cars between 2009 and 2015 are affected, and this could mean that nearly 500,000 cars will be subject to recall here in the United States. Worldwide, 11 million vehicles are affected. It's been such a serious blow to the automaker that its stock has fallen massively. Now the EPA is going to take a closer look at the automaker's 3.0-liter V-6 diesel, which is an engine...
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Apple Car Could Roll As Early As 2019: ReportApple is yet to even mention the possibility of it developing a car but numerous reports and industry clues point in just that direction. It was at the start of this year that we heard about a car project at Apple under the code name Project Titan, and soon after we learned that the tech giant was...
Viknesh Vijayenthiran -
VW CEO issues apology after EPA accuses automaker of cheating on emissions testsThe Environmental Protection Agency (EPA) on Friday came out with the shock announcement that the Volkswagen Group had installed software on close to 500,000 of its TDI-branded diesel models from the Volkswagen and Audi brands that was designed to circumvent EPA emissions standards for certain air...
Viknesh Vijayenthiran -
General Motors Will Pay $900M Criminal Fine Over Bad Ignition SwitchesThe Detroit News is reporting that General Motors Company will pay a $900 million criminal fine over the defective ignition switches that led to 124 deaths and 275 injuries. The fine reflects that the company continued to use the switches for more than a decade, even though it knew about their...
John Coyle -
Mission Motorcycles Runs Out Of Juice, Files For BankruptcyIn 2011, Mission Motorcycles set the record for fastest electric motorcycle lap of Mazda Raceway Laguna Seca. And while the record still stands, the San Francisco-based company is no more. ALSO SEE: Porsche Mission E Electric Sedan Concept: 310-Mile Range, 15-Minute Charging--Live Photos &...
John Coyle -
Automatic Emergency Braking To Become Standard?There's no question about it; modern cars are incredibly safe, and there's new technology being released that has them becoming safer still. Since it was mandated that we all wear our seatbelts to the introduction of airbags, the number of people dying on our roadways has been going down and...
Jeff Glucker -
Google’s autonomous car project now has its own CEO in the form of auto industry veteran John Krafcik. The 53-year-old has previously worked for the Ford Motor Company [NYSE:F] as well as Hyundai where he ran operations in the United States from 2008 to 2013. Most recently he was working for automotive pricing and information hub TrueCar. ALSO SEE: New Volkswagen Tiguan Unveiled Ahead Of 2015 Frankfurt Auto Show Krafcik starts his new role later this month and will be based at Google’s headquarters in Mountain View, California. Previously, Chris Urmson, a former Carnegie Mellon...
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Polestar Racing To Become Cyan RacingWe're in love with the Polestar offerings from Volvo. The automaker loves them too, which is why it purchased Polestar earlier this year. The plan is to roll out more high-performance variants of vehicles offered in the Volvo lineup. That acquisition didn't cover everything that Polestar did...
Jeff Glucker -
Should Elderly Drivers Be The Autonomous Car Early Adopters?Some automakers tease concept cars with autonomous-driving modes, lounge-style interiors, and augmented-reality windshields and windows, while others tout automatic cruise control, lane-keep systems, and automated parking features as technologies that are the gateway to autonomous driving. But the...
Bengt Halvorson -
CFO Hans Dieter Pötsch To Become New Volkswagen Group ChairmanVolkswagen Group senior managers have nominated the automaker’s current CFO, Austrian Hans Dieter Pötsch, to become the new chairman of the overarching supervisory board that represents the shareholders, a position left vacant after the shock resignation of longstanding chairman...
Viknesh Vijayenthiran -
Marchionne Wants To Bring FCA And GM Together, GM Says NoThe large automotive entity known as Fiat Chrysler Automobiles [NYSE:FCAU] has been in the news as of late, and it's not because of Hellcat goodness. Okay, there's actually still a bit of Hellcat-related news out there thanks to the upcoming Jeep Grand Cherokee Trackhawk. This isn't the main reason...
Jeff Glucker -
Volkswagen Ordered To Sell 19.9 Percent Stake In SuzukiA multi-year ordeal involving Suzuki and Volkswagen will soon be at an end, with the German automaker ordered by an arbitration court to sell its 19.9 percent stake in the Japanese firm. DON'T MISS: Barracuda Coming Back As A Dodge? The ordeal goes back to 2009 when VW first bought the stake in...
Viknesh Vijayenthiran -
About a month ago, reports emerged claiming longstanding Ferrari CEO Amedeo Felisa had resigned and that a search was on for his replacement. It’s now being reported that Sergio Marchionne, already chairman of Ferrari as well as CEO of Fiat Chrysler Automobiles [NYSE:FCAU], may step in to tide things over at the Prancing Horse as the company prepares for its listing on the New York Stock Exchange later this year. Bloomberg, citing a source familiar with the matter, reported that discussions about a replacement for Felisa are currently under way and that one of the key people being...
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Ford Ranger Mid-Size Pickup May Return To U.S. In 2018Ford Motor Company [NYSE:F] fans in the United States have missed out on the latest Ranger but that may eventually change if a new report proves accurate. The mid-size pickup made its debut in 2009 during the height of the global financial crisis, thus the decision was made not to offer it locally...
Viknesh Vijayenthiran -
Shelby American Going GlobalThe Shelby name is recognized worldwide but until recently it was hard for the brand founded by the late Carroll Shelby to expand overseas due to the fact that the most popular car it worked on, the Ford Mustang, was never officially sold outside of North America. That all changed when the Ford...
Viknesh Vijayenthiran -
Apple Continues To Add Top Talent To Its Autonomous Team, This Time From TeslaApple continues to gobble up tech talent for its secretive autonomous automotive project. There have been new hirings inside Apple that range from technology-focused folks to those with expertise in the automotive industry. According to a recent Reuters reports, the latest bit of hiring shows that...
Jeff Glucker -
Future Ferraris To Move To Modular Platform Starting With California Replacement: ReportFerrari is in the midst of one of the biggest periods of transition in its history, with Sergio Marchionne having recently taken over the role of chairman from Luca di Montezemolo and parent company Fiat Chrysler Automobiles [NYSE:FCAU] about to make the storied Italian marque public for the first...
Viknesh Vijayenthiran -
Future Buick Lineup To Arrive From Overseas?It seems that Buick might be packing up some of its manufacturing and venturing overseas. That's the rumor according to a report from Reuters, which states that the bulk of the Buick lineup could be built overseas from as early as 2016. With as strong a presence as the automaker has in China, it's...
Jeff Glucker