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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 Aventador SV clocks sub 7 minute Nurburgring lap

The list of cars that have lapped the Nurburgring in under seven minutes is about as short as the ride heights on the supercars of which it's composed. There's the Radical SR8 (that's just barely street-legal), there are hybrid hypercars like the Porsche 918 Spyder and McLaren P1, and now there's one more in the Lamborghini Aventador LP750-4 SV. Lambo unveiled its latest Superveloce in Geneva just a couple of months ago, boasting an upgraded version of its free-revving V12, unburdened by 110 pounds of excess weight and fitted with enhanced equipment. The result of all these improvements is 740 horsepower, 509 pound-feet of torque, a 2.8-second 0-62 time, a top speed of 217 miles per hour and a Nordschleife lap time of 6:59.73. No turborchargers, no hybrid assist, no type certification or regulatory loopholes. Just an old-fashioned twelve-cylinder supercar doing what it does best, and trouncing just about everything else in the process. The lap time was clocked during development tests for the Lambo's P Zero Corsa tires, and appears to have been run with a roll cage in place, but we don't know if there were any other modifications carried out (or for that matter if the time was verified by any external authority). The timing of this video's release comes right on the heels of Seat having claimed the lap record for wagons and both the 24-Hour and World Touring Car Championship races taking place at the Green Hell this weekend.

Lamborghini Urus gets the green light for production [UPDATE]

UPDATE: We've gotten the official press release from Lamborghini, which you can read below. In it, company president Stephan Winkelmann does say that the new vehicle will be built in Sant'Agata Bolognese in a move to demonstrate "our commitment to safeguarding the values of 'Made in Italy' worldwide." It's been a long time coming, but the official word has finally come down: Lamborghini is going to build the Urus. The Italian automaker first gave us a sneak peak at the crossover concept in New York, before revealing the Urus in concept form at the Beijing Motor Show back in 2012. And we had a chance to catch up with it again in Monterey that summer. That's a lot of buildup. Ever since, Lambo has been toying with putting it into production as its third model line, alongside the existing Huracan and Aventador two-door supercars. All it's been waiting for is the go-ahead from parent Volkswagen, which it has now received. Autoblog received confirmation from a spokesman at Lamborghini of the Urus' production approval, with official details to be announced within the next few hours. Word has it that the high-riding Raging Bull will hit showrooms in 2018, but watch this space for more details as we find them. The Urus (or whatever it's ultimately called) will join a burgeoning market for high-end crossovers, alongside the likes of the Bentley Bentayga, Jaguar F-Pace, Aston Martin DBX and Maserati Levante. Unlike those forays, however, Lamborghini's will not be its first SUV. That honor will forever belong to the LM002, nicknamed the "Rambo Lambo" that came out just before the original Hummer and was powered by the Countach's V12 engine. Just what will power Sant'Agata's new crossover remains to be seen. However the signs have been pointing towards it at least being offered with the company's first hybrid powertrain, as previewed in the Asterion concept from Paris. With substantial incentives being offered by the Italian government, it is expected to be built in Italy – or at least assembled there. Much of the production work is likely to be carried out in Slovakia where the Audi Q7, Volkswagen Touareg and Porsche Cayenne (with which the Urus is destined to share its underpinnings) are made. Scroll down to read the official announcement.