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Investors storm Volkswagen with $9 billion in lawsuits

Volkswagen's investors are latest group to take up pitchforks against the embattled automaker, and they're seeking $9 billion in damages, Reuters reports. The investor lawsuits were filed in a court in Braunschweig, Germany, near Volkswagen's Wolfsburg headquarters. On Monday, the first business day following the anniversary of the emissions revelations, the court received 750 lawsuits alone. All told, about 1,400 lawsuits have been filed. The largest single claim totals $3.7 billion and was filed more than six months ago. The lawsuits stem from complaints that Volkswagen didn't divulge information on the cheating software to investors quickly enough. Volkswagen has said that it hasn't broken any capital market laws. The $21.5 billion the company set aside to weather the storm may not be enough. The consumer fix is estimated to run the company $14.7 billion, either through buybacks or a fix that still seems unclear. In addition to the lawsuits, Volkswagen CEO Matthias Mueller confirmed that Audi boss Rupert Stadler is under investigation regarding the scandal. Mueller refused to give further details, but this shouldn't come as a surprise to anyone. Audi has admitted that its 3.0-liter V6 was equipped with the same emissions-cheating software as the 2.0-liter four-cylinder diesels. Stefan Knirsch, Audi's head of development, has been suspended as part of the overall investigation. Knirsch took over duties after his predecessor quit. Knisch was previously head of engine development at Audi. Related Video: News Source: Reuters Green Hirings/Firings/Layoffs Audi Volkswagen Emissions Diesel Vehicles vw diesel scandal

2016 Audi TTS Quick Spin

So, this is awkward. Last week, you (hopefully) read my Quick Spin on the Mercedes-Benz C450 AMG, a vehicle that I argued was dynamically very good, but wasn't so much better than the standard C300 to make it a worthwhile buy. Now I'm going to voice a similar opinion. The Audi TT has always been a vehicle you bought for the style, rather than the performance. If you wanted an athletic two-seat German, you just bought a Porsche Boxster. But the TT, that's a car you bought for the way it looks. And the way it looks remains the strongest argument against the car you see here, the TTS. In short, it's quick, agile, and more aggressive looking, but none of those qualities are so dramatically better than the plain-jane TT. Another Autoblogger came to this conclusion while tracking the new TTS – now I'll explain where this car misses the bull's eye on the road. Driving Notes Audi will probably never match the design impact of the original 1998 TT, but the third-gen feels like a more mature, cohesive evolution of the handsome second-generation car. The front and rear fascias are sharper, more muscular, the headlights/taillights chiseled and emotive, and the front grille significantly more powerful. Even in the subdued Daytona Gray shown here, this is a car that can get people staring almost as easily as that original model. The interior of the third-generation TT is as much a design triumph as the first TT's exterior. It's a master class in clean, simple, elegant design, but it's also extremely disorienting. Buttons for the HVAC system are hidden on the vents themselves and not having a central display of any kind is jarring. Once you get used to the layout and embrace the absolutely exceptional Virtual Cockpit – seriously, I'm convinced this is the finest piece of in-car technology on the market – the cockpit layout just starts making sense. This is a compact cabin, but it's a wonderful place to spend time. In addition to Virtual Cockpit, the S Sport seats (optional on the standard TT) are supportive and perfectly snug. Even for the big boned, the flat-bottomed steering wheel is a delight. The material quality is high across the board. Perhaps the biggest complaint is the charitably named backseats. Audi should just go with an R8-style shelf back here – those tiny buckets aren't fooling anyone. It'd make for a more versatile interior. Audi's current TT engine line is restricted to 2.0-liter, turbocharged four-cylinders.

Focus ST Tuner, Traffic Deaths, Audi EV SUV | Autoblog Mintue

Autoblog senior editor Greg Migliore gives the highlights from the week in automotive news.