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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.

2023 Chicago Auto Show Mega Photo Gallery: See all the new cars from the show

The 2023 Chicago Auto Show played host to a number of reveals this year, and we were there to capture all of them. In traditional auto show fashion, that means you’re getting a mega gallery of galleries to flip through and see all the vehicles on the show floor. Our EditorsÂ’ Picks from the show are already out — spoiler alert, the 2024 Toyota Grand Highlander took home the prize. That said, there were other important reveals like the 2024 Volkswagen Atlas and Atlas Cross Sport and the 2024 Subaru Crosstrek. We also learned some interesting tidbits, such as the fact that VW is considering a pickup, and Jeep owners really are plugging in. To see the photos, scroll on down and start flipping through those galleries.   2024 Toyota Grand Highlander 2024 Toyota Grand Highlander View 7 Photos 2024 Volkswagen Atlas 2024 Volkswagen Atlas View 14 Photos 2024 Volkswagen Atlas Cross Sport 2024 Volkswagen Atlas Cross Sport View 7 Photos 2024 Ford Mustang Dark Horse with its carbon fiber wheels 2024 Ford Mustang Dark Horse with carbon fiber wheels View 7 Photos 2024 Chevrolet Corvette E-Ray 2024 Chevrolet Corvette E-Ray View 10 Photos Jeep Wrangler Anniversary Editions Jeep Wrangler Anniversary Editions View 3 Photos 2023 BMW XM 2023 BMW XM View 6 Photos Ram Revolution Concept Ram Revolution Concept View 6 Photos NASCAR Chicago Street Race Pace Car — Toyota Camry NASCAR Chicago Street Race Pace Car ? Toyota Camry View 4 Photos Everything else at the 2023 Chicago Auto Show Lamborghini Countach LPI 800-4 View 12 Photos Related video: Chicago Auto Show BMW Buick Chevrolet Ford GM GMC Hummer Jeep Lamborghini RAM Toyota Volkswagen Truck Coupe Crossover SUV Concept Cars Electric Hybrid Luxury Off-Road Vehicles Performance Supercars Sedan

Lamborghini sold a record 3,245 supercars last year

Lamborghini sold 3,245 vehicles last year. That figure represents new record for the Italian automaker, which moved more supercars in 2015 than it has in any of its past 53 years in business. And that number only stands to grow in the coming years. This represents an enormous increase over the 2,530 units it sold in the previous calendar year – which itself set a new record in 2014. Lamborghini's previous high-water mark stood at 2,430 units sold in 2008, but dipped in subsequent years through the global economic downturn that hit exotic automakers particularly hard. What's more is that the Raging Bull marque is gearing up to increase its sales even further in the coming years. The factory in Sant'Agata is preparing to add a third model line to the existing Huracan and Aventador with the introduction of the Urus. Once production of the new crossover ramps up, Lamborghini expects to sell approximately 3,000 of them each year, potentially doubling the record numbers from last year. Even at those figures, the Italian brand remains among the smallest in the Volkswagen Group. Sales numbers from 2014 reveal that Bentley sold approximately 11,000 units, leaving only Bugatti as a smaller producer than Lamborghini with sales of its multi-million-dollar supercars counted in the hundreds, not thousands. Though it also posted record sales last year, rival McLaren sold roughly half the number of supercars that Lamborghini did at 1,650 units. By comparison Ferrari currently limits its production to 7,000 units per year – more than double Lamborghini's figures – and could raise that limit in the near future. Related Video: AUTOMOBILI LAMBORGHINI: 150 NEW JOBS IN 2015 FOR THE URUS PROJECT WITH FURTHER HIRINGS TO FOLLOW IN 2016 Sant'Agata Bolognese, 26. January 2016 – Automobili Lamborghini just ended 2015 with exceptional results. The all-time record of 3,245 vehicles sold worldwide comes with a rapid growth in workforce, which now stands at 1,300 employees. More than 150 assembly line workers, technicians and highly qualified specialists have been hired recently with open-ended contracts, bringing the total of permanent employees taken on over the past five years to more than 600. Stephan Winkelmann, President and CEO of Automobili Lamborghini, commented: "Lamborghini is experiencing strong, steady growth in sales and also in its workforce.