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Volkswagen might cut 40 models across brands to save cash

Volkswagen once set out to pass Toyota and General Motors and become the largest automaker in the world. Following months of fallout from the diesel emissions scandal, the manufacturer is rumored to be dropping around 40 models from its company-wide lineup. According to German business and finance publication Handelsblatt, the Volkswagen Group is looking to slim down and remove a number of low-volume vehicles from various lineups. The company currently sells around 340 models across brands that include Audi, Lamborghini, and Bentley. Volkswagen is refusing to comment, but Handelsblatt claims to have sources within the company. Last week, Volkswagen Group CEO Matthias Muller announced a new strategy for the company that includes a major focus on electric vehicles and new technology services. During his announcement, Muller said the company would be cutting a number of models, but at the time no numbers, models, or brands were discussed. Despite comments to the contrary, rumors have persisted since late last year that Volkswagen was looking to sell commercial truck and bus manufacturer MAN. Volkswagen owns truck and bus manufacturer Scania, so even if it dropped MAN, the company would still have a foothold within the bus and truck market. There is also talk of the company selling Italian motorcycle manufacturer Ducati, which Volkswagen acquired via Audi in 2012. The company's image has taken a huge hit in the wake of the diesel scandal. Volkswagen has set aside cash in order to pay fines and may be looking to sell these several subsidiaries and cut low-volume models in order offset the costs. Despite the scandal, the company led worldwide sales in the first quarter of 2016. The same was true in 2015, but sales tanked at the end of the year following the diesel revelations. Related Video: Rumormill Audi Bentley Volkswagen Ducati

Bentley Mulsanne Grand Convertible due in 2017, Speed 6 still in play

Automobile outlines the near-term future of the Bentley line-up, finding a few items of gold and perhaps one that brand purists will consider a goldbrick. Dealers are taking orders for the the Bentley Grand Convertible, a ragtop Mulsanne introduced at the LA Auto Show last year, and it is expected to reveal its production form sometime late next year on its way to showroom floors by early 2017. Brand CEO Wolfgang Durheimer said "Mulsanne will get further derivatives," plural. Perhaps that means that with a convertible on its way to reality, a coupe something like a modern Brooklands will follow. A long-wheelbase Mulsanne is in the works, too. The Grand Convertible will wear the Mulsanne's new face, scheduled for reveal at next year's Geneva Motor Show. Automobile says the front will be "squarer" and the grille "more upright," which we didn't think was possible, and boast "three brick-shaped air intakes," apparently to emphasize the upright squareness. Plus, new headlights. The third-generation Continental and Flying Spur ranges would come after that, laid atop the MSB platform and rolling out of Crewe over a two-year period starting in 2017. They should still be powered by 4.0-liter V8 and 6.0-liter W12 engines, but the bodywork around those motors will be "both evolutionary and daring." This, then, should be the leap that Bentley wanted to make with the second-generation Continental but couldn't. Whither the EXP 10 Speed 6? Durheimer said the customer response has been, "Don't ask us questions, just do it." The last news we had over the summer was that Bentley was deciding whether to expand the line-up next with a small SUV or the Speed 6. It's not clear which will come first, but Durheimer said, "I'm confident that with EXP10 Speed 6 we will find a good solution," and the business case for it goes to the board a year from now. Automobile suggests it will go on sale in 2020 with a 600-horsepower, twin-turbo V8. That smaller SUV is still on the table, though, an entry-level offering that would use the re-engineered bones of the Audi Q5. Featured Gallery Bentley Grand Convertible: LA 2014 View 16 Photos News Source: AutomobileImage Credit: Live images copyright 2015 Drew Phillips / AOL Bentley Convertible Coupe Crossover Future Vehicles Luxury Performance bentley mulsanne bentley flying spur bentley exp 10 speed 6 bentley grand convertible

If VW defaults on loans it may sell Bentley or Lamborghini

If something goes catastrophically wrong with Volkswagen Group's recent $21 billion loan, brands like Bentley or Lamborghini could hit the auction block. According to two insiders to Reuters, the beleaguered German automaker agrees with its creditors to sell assets if the company somehow can't pay back the debt in a year. One of these anonymous people claimed the company hasn't yet deliberated over what to sell. However, the sources were willing to speculate that the power engineering portion of Man could be among the first to go. "Volkswagen may also consider divesting luxury car brands Bentley and Lamborghini or motor bike brand Ducati, although these units don't really move the needle," an insider said to Reuters. VW Group negotiated with the banks earlier this week to get the massive loan. The cash is necessary as a buffer in case the automaker doesn't have enough money on hand to repair vehicles or settle upcoming fines. VW would reportedly issue bonds in the spring to begin paying the debt. The company's bills will start racking up quickly in the new year. German authorities mandate a recall there in early 2016, and repair campaigns in the US for the 2.0- and 3.0-liter diesel engines are inevitable. There are also hundreds of class-action lawsuits to settle. The company needs to resolve its CO2 emissions scandal in Europe, too. In response to these financial threats, VW management created a cost-cutting plan to slash the research and development budget by $1.1 billion next year.