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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.

Lamborghini recalls Aventador over headlamp problem

The National Highway Traffic Safety Administration has issued a bulletin over a recall for up to 144 examples of the 2012 Lamborghini Aventador here in the States. The affected models, built from July 15, 2011 to April 20, 2012 have headlights that apparently don't conform to US federal motor vehicle safety standards. The lamps can be aimed horizontally but not vertically, which can reduce their usefulness for the driver and blind oncoming traffic if aimed improperly.
Lamborghini is expected to begin notifying affected owners next week, at which time they can take their Aventadors to their dealers for a fix free of charge. The complete bulletin from NHTSA is below.

Harry Metcalfe shows off his Lamborghini Countach

Harry Metcalfe may no longer be editing the Evo magazine he founded, but that doesn't mean he doesn't still have octane pumping through his veins – or that he isn't still producing world-class automotive content. In this latest video released on his YouTube channel Harry's Garage, Metcalfe shows off is 1987 Lamborghini Countach 5000 Quattrovalvole. The precursor of today's Aventador, the Countach was Sant'Agata's longest-serving mid-engined twelve-cylinder supercar, remaining in production from 1974 (after the Miura was discontinued) until 1990 (when the Diablo replaced it), and earned its place of prominence on the walls of so many childhood bedrooms. Metcalfe's was a later model from 1987 – the London Motor Show car from that year, in fact – packing the enlarged 5.2-liter V12 with the four-valve heads, those fantastical air vents and that giant rear wing. Harry even had the legendary Valentino Balboni to sign the interior. The video is a full half-hour long, but even if you've only got a few minutes, it's worth watching just the beginning to hear it starting up.