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VW to pay $1B in settlement with US government over V6 diesels

Volkswagen and the US government have come to a settlement for the civil claims against the automaker's 3.0-liter, diesel V6s. Over 83,000 V6 TDI-powered models are currently prowling US roads in violation of emissions laws. The settlement allows VW to recall over 75 percent of its cheating V6 diesels – about 63,000 units – and bring them into compliance. These represent newer VW Touaregs, Audi A6, A7, A8, Q5, and Q7s, and Porsche Cayennes built between 2013 and 2016. According to the company, the recall will bring these so-called Generation Two engines up to emissions specs, provided the EPA and CARB okay the modifications. Should the regulators say no to VW's tweaks, the company will buy back or terminate leases with the affected owners. For older V6 TDIs built between 2009 and 2012, Volkswagen will do broadly the same thing, only in reverse. It will lead with buy backs of older Touaregs and Q7s – the only vehicles the company sold with the earlier engines – but could offer fixes if EPA/CARB give the okay. As part of its agreement over the emissions-cheating V6s, Volkswagen will contribute $225 million to the "environmental remediation trust" it established as part of its settlement over cheating 2.0-liter TDIs. VW is also on the hook for $25 million with CARB, bringing the total for the six-cylinder part of its emissions cheating scandal to around $1 billion, Automotive News reports. This initial agreement still needs approval from US District Court Judge Charles Breyer. Related Video:

Matthias Muller officially named VW Group CEO

While the vast number of rumors made it seem like a foregone conclusion, Porsche boss Matthias Muller has officially been named Volkswagen Group CEO to replace the recently resigned Martin Winterkorn. His contract runs through the end of February 2020, and until a replacement is found, Muller also gets to hang onto his old job as chairman of Porsche. At the same time, the VW Group Supervisory Board is announcing a massive structural reorganization across the entire company, with the new management model in place by the beginning of 2016. Contrary to previous rumors, Michael Horn remains as President and CEO of VW Group of America. The board wants a greater emphasis on brands and regions going forward, and the scale of this shift can be seen in the US. On November 1, VW Group business in the US, Mexico, and Canada is being combined under the leadership of current Skoda chairman Winfried Vahland. However contrary to previous rumors, Michael Horn remains as President and CEO of VW Group of America. Other brands are also seeing some significant changes mechanically. Porsche, Bentley, and Bugatti now fall under the Group's "sportscar and mid-engine toolkit." This means that the brands will start sharing standardized technical parts. A Chief Technical Officer across all of the company's brands will also start working toward future innovations. The new brand-centric view means the end of a group-wide production department. "Going forward, the brands and regions will also have greater independence with regard to production. So it follows that they should also hold the responsibility for these activities," Berthold Huber, interim Chairman of the Supervisory Board, said in the announcement. In a statement with the press release about his promotion, Muller promised to turn the company around after such an international crisis. He said: "My most urgent task is to win back trust for the Volkswagen Group – by leaving no stone unturned and with maximum transparency, as well as drawing the right conclusions from the current situation. Under my leadership, Volkswagen will do everything it can to develop and implement the most stringent compliance and governance standards in our industry." Matthias Muller appointed CEO of the Volkswagen Group Muller remains Chairman of Porsche AG until a successor has been found Matthias Muller (62) has been appointed CEO of Volkswagen AG with immediate effect.

Pick up your Porsche in Atlanta, get free track time

Want to pick up a new Porsche from the factory? That's an option, but you have to fly out to Germany and then have your car shipped back Stateside. If that sounds like too much globetrotting, Porsche Cars North America is now offering the next best thing at its new US headquarters. It even includes some extras you don't get with factory delivery. The company's New Vehicle Delivery program allows customers to order a new Porsche at their local dealership and then pick it up at the Porsche Experience Center at One Porsche Drive in Atlanta. After touring the facility, customers get acquainted with their new cars with help from an expert then lap the on-site test track for an hour and a half and grab lunch at the company's gourmet Restaurant 356. The best part is, unlike the many options Porsche offers, PEC delivery adds nothing to the price of the car. You will, of course, have to cover the gas to get back to wherever you and your car live. Porsche has already kicked off the program. The first participant, Tracy Blumenthal, came out from California to pick up her new Cayenne S E-Hybrid. As a special bonus for being the first customer, former Le Mans class winner David Donohue took her for a ride in the 918 Spyder. Sounds like a pretty good day, if you ask us, especially when you get to go home with a new Porsche at the end. Related Video: Porsche Launches New Vehicle Delivery Program at Experience Center in Atlanta April 25, 2016 Atlanta, Georgia. Porsche Cars North America has launched its New Vehicle Delivery program at the Porsche Experience Center (PEC) in Atlanta. The program enables customers to place a factory order for a new vehicle through any authorized Porsche dealer in the U.S. and take delivery directly from the experiential destination, located at One Porsche Drive in Atlanta. California forensic accountant and attorney Tracy Blumenthal was the first official customer to participate in the program today when she picked up her new Cayenne S E-Hybrid sport utility vehicle. "We are thrilled to launch the New Vehicle Delivery program as another premium offering at our Porsche Experience Center in Atlanta," said Andre Oosthuizen, Vice President, Marketing, for Porsche Cars North America.