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These are the top luxury cars bought by people entering the segment for the first time

Let's say you just got a big promotion at work or the kids are moving out of the house, and you finally have some extra money. You decide to blow it all at once and treat yourself by upgrading your ride. Naturally, you look to a luxury automaker. What do you choose?
Models like the Audi A3 and Mercedes-Benz CLA-Class may be tailor-made to introduce buyers to the premium segment, but a new study finds that they don't garner the highest rates of non-luxury customer conquests. It turns out that a Volvo leads among folks moving up to a premium brand, and it isn't even one that's made anymore, at that.
A recent study by Polk and IHS Automotive looked at what models had the highest rates of buyers upgrading from a non-luxury segment. The information comes from its new vehicle registration data through April 2014. All ten top models boasted conquest rates of over 50 percent, but the Volvo C70 led the field with 68.01 percent of its customers coming from non-premium brands.

2015 Audi R8 Competition ready to rock LA

The heyday of the first-generation Audi R8 is winding down, and the Four Rings already has a bespoke factory to start building the next model soon. In the meantime, the German brand is sending its supercar off with a bang at the 2014 Los Angeles Auto Show in the form of this limited-edition 2015 R8 Competition - the most powerful production vehicle ever made by the company.
Audi is earmarking just 60 examples of the Competition for the US, and this is more than just a trim package to say farewell. Power for the supercar comes from the usual 5.2-liter V10 that's massaged to develop 570 horsepower, an extra 20 hp over the already quite potent V10 Plus, and the only available transmission is the seven-speed, dual clutch S Tronic gearbox. The tweaks let this limited R8 rocket to 60 miles per hour in 3.2 seconds and achieve a maximum velocity of 199 mph. To haul that speed to a stop, it also gets ceramic brake disks with red calipers.
Of course, having such a rare supercar means showing off a little. Audi takes inspiration from the R8 LMS Ultra racecar for the Competition and tries to bring some of its details to the street. The model wears matte carbon fiber pieces replacing the rear spoiler, mirror housings, side blades, front spoiler and rear diffuser. For an extra mean-looking touch, it also has high-gloss black paint covering the wheels and exhaust pipes.

VW stock plummets as Euro markets open

The fallout from Volkswagen's installation of an emissions "defeat device" on nearly 500,000 diesel-fueled models in the US is already hitting the automaker hard on the German stock exchange. At one point, the share price plummeted 23 percent to erase the equivalent of $17.6 billion in value. Things eventually bounced back slightly to a still severe 19.23 percent loss, according to Bloomberg as of this writing. The scandal couldn't come at a worse time for chairman Martin Winterkorn. The VW supervisory board takes up the issue of renewing his contract on September 25, Bloomberg reports. If things get bad enough, the door could be open for a new boss to step in. Dealers in the US might start feeling the pain from this, as well. Affected 2015 VWs that are still at showrooms are now under a stop sale. Until the issue is straightened out, the Environmental Protection Agency isn't certifying the company's 2016 diesel models with the 2.0 TDI, either. The diesel emissions problem was first discovered by research from West Virginia University and the International Council on Clean Transportation. In some cases, the engines can produce 40 times more nitrogen oxides than allowed. The automaker could be on the hook for $18 billion in fines for the breach, but the actual figure is expected to be lower. In response, Winterkorn has issued a public apology and ordered an independent investigation into what happened. The EPA and California Air Resources Board have also been looking into the situation. This could become an international problem, though. According to The Detroit News, European authorities might begin similar inquires to check the automaker's diesel emissions there.