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Weekly Recap: Volkswagen moves forward under Muller

Most stunning was the speed of it all. On the morning of September 18, Volkswagen AG stood atop the automotive world. It was profitable and sold more cars than Toyota and General Motors, its two main rivals for global supremacy. By nightfall, the company would be embroiled in scandal. Revelations the German auto giant cheated on diesel emissions testing in the United States reverberated from Washington to Wolfsburg, Germany. What started out as a problem with 482,000 VWs and Audis in the US exploded into an international scandal. Millions of vehicles have the rigged software, meaning VW broke environmental rules as its cars spewed pollutants all over the world. The fallout began immediately. Volkswagen CEO Martin Winterkorn – one of the most respected and capable executives in the business – apologized on Sunday and Tuesday. On Wednesday he resigned. As the week progressed, the company's stock took a beating and credit agencies threatened to drop their ratings. VW dealers and owners said they felt betrayed. The automaker hired a law firm that defended BP after the Deepwater Horizon oil spill. The EPA is already extending its testing procedures to look for "defeat devices" like the ones used by Volkswagen. On Friday the company announced a major restructuring. Matthias Muller, Porsche's chief for the last five years, took over as CEO of Volkswagen and is charged with picking up the pieces of a shattered company facing regulatory action and lawsuits. With GM, Toyota, and Takata scandals still fresh, Volkswagen will likely experience unprecedented levels of scrutiny. Additionally, VW's markets in the United States, Canada, and Mexico will be combined into a North American region under the leadership of former Skoda boss Winfried Vahland, though US chief executive Michael Horn will stay on. The company is also realigning its brands by specialty and streamlining its board. Firings, government action, restructurings, and international outrage – things that usually build up over months or years – all occurred in about a week. With dizzying speed, Volkswagen's future has changed dramatically. It all happened, it's still happening, so fast. OTHER NEWS & NOTES 2016 Buick Cascada to start at $33,990 Buick hasn't made a convertible in 25 years. That's a whole person who can drink plus a kindergartner. So it's been awhile. Enter the 2016 Buick Cascada. It has top-shelf Opel engineering, slinky design, and it's reasonably priced.

Ford reports $3B profit in Q4, $6.9B for the year

Good news out of Dearborn today, as Ford announced $3 billion in profit for the last quarter of 2013, a 90-percent increase over the same period of 2012. Net income for all of last year, meanwhile, jumped to $7.2 billion from $5.7 billion in 2012, while pre-tax profits sat at a decade-topping $6.9 billion for all of 2013.
The results of the substantial profit increases are bigger profit-sharing checks for UAW employees. How big? A record $8,800 on average for 47,000 UAW workers, making 2013 the biggest year for profit sharing in Ford history. In total, $414 million will be paid as part of the profit-sharing scheme.
Now, it should be pointed out that a fair portion of Ford's Q4 profits were due to tax benefits, totaling $2.1 billion, according to Automotive News. Total profits would have also been higher, had there not been a significant recall on the Escape, as well as plant issues in South America.

5 classic trucks and their polarizing modern revivals

EVs are helping eliminate Detroit's gas-guzzling problem. Some revivals of gas-powered classics are getting the EV treatment.  But not every revived model looks exactly like its original counterpart. We're in a new era of hulking Detroit metal, and you can thank EVs. Americans can't get enough of their big, beefy trucks and SUVs. But for many years, some of the biggest gas guzzlers fell out of fashion as gas prices rose and emissions regulations tightened. But in the past few years, some of the most iconic American truck nameplates have been brought back to life with electric motors, like the GMC Hummer. In other cases, as with the Ford Bronco, improvements in engine technology and more interest in rugged adventure vehicles made a gas-powered revival possible. Even some revivals that started as gas-powered, like the Chevy Blazer and the Jeep Wagoneer, are now getting electrified spinoffs. (Even if they don't always look quite as sleek as their original inspiration.) Here are side-by-sides of five classic American trucks and their modern counterparts. The Jeep Wagoneer 1975 Jeep Wagoneer and 2024 Electric Jeep Wagoneer SStellantis After a long wait, Jeep released its revival of the classic Wagoneer and Grand Wagoneer in 2020. Starting later this year, an electric version of the luxury Jeep SUV will join the Wagoneer lineup. The Chevrolet Blazer A 1973 Chevrolet Blazer and a 2024 Chevrolet Blazer EVGetty Images, General Motors The Chevrolet Blazer was first rebooted in 2019 as a sporty family SUV. The modern Blazer shares zero resemblance to its boxy, off-roading older sibling, but it has still managed to become one of Chevy's more popular SUVs in recent years. The Blazer EV came later, and was one of the first models GM built on its new Ultium battery platform. The Hummer A Hummer H2 and the 2023 Hummer EV pickup truckGetty Images, General Motors Once the poster child for Detroit's big, bad gas guzzlers, the Hummer got new life as an electric pickup truck in 2021. The Ford Bronco A 1971 Ford Bronco and a 2022 Ford BroncoFord Motor Co. After a rouge group of engineers and designers inside Ford spent years trying to breathe life back into the Blue Oval's boxy off-roader, the Ford Bronco was finally resurrected in 2020 amid a rise in popularity for rugged adventure vehicles. The Ford Ranger 1985 Ford Ranger and a 2024 Ford RangerFord Motor Co.