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Winterkorn remains CEO of Volkswagen's majority shareholder

Martin Winterkorn may have stepped down as the chief executive of Volkswagen in the wake of the diesel emissions scandal, but he's not out from under the company's large umbrella just yet. In fact, according to a report from Reuters, he still holds four top-level positions not only within the industrial giant's bureaucracy, but at the top of it. And one of those is as CEO of the company's largest shareholder. That holding company is Porsche SE, the investment arm of the Piech and Porsche families (Ferdinand Porsche's descendants) which holds over 50 percent of VW's shares. In 2008, Porsche SE acquired majority interest in the Volkswagen Group which in turn acquired Porsche the automaker – and placed VW's Winterkorn at the head of the executive board of the holding company. Though Winterkorn has resigned from his position as chairman of VW's management board, he has apparently yet to step down from running Porsche SE. That's not the only job that Winterkorn still retains in VW's senior management. He also continues to serve as chairman of Audi, as well as truck manufacturer Scania, and the new Truck & Bus GmbH into which Scania has been grouped together with Man. It remains unclear if or when Winterkorn might resign from those positions as well, or how his tenure in those posts might affect the company's effort to start over in the aftermath of the scandal in which it is currently embroiled. Also unclear, Reuters reports, is how much, exactly, Winterkorn will receive in compensation after having stepped down from his chair at the head of the VW executive board. His pension is reported at over $30 million, but he could be awarded a large severance package as well amounting to as much as two years' worth of his annual compensation, which amounted to around $18 million last year. Whether he receives the severance pay or not is expected to depend on whether his resignation is considered by the supervisory board to have been the result of his own missteps or independent of the situation that resulted in his resignation. One way or another, he's not likely to go poor anytime soon.

New Civic, FCA UAW Agreement, Frankfurt | Autoblog Minute

FCA reaches a tentative agreement with the UAW, Honda reveals the all new 2016 Civic, and the Frankfurt Motor Show dazzles us again.Senior editor Greg Migliore reports in the Weekly Recap edition of Autoblog Minute Weekly. UAW/Unions Bentley Honda Jaguar Porsche Tesla Autoblog Minute Videos Original Video FCA porsche mission e civic

Porsche Cayenne GTS, base models revealed ahead of LA

Porsche unveiled a slew of refreshed Cayennes just a few months ago, but the base model (right) and high-performance GTS trim (above) were conspicuously absent from that list. There's no more reason to wonder about them, though, because the German brand plans to unveil both at the upcoming Los Angeles Auto Show on November 19.
Sitting below the Turbo in the lineup, the latest GTS still offers plenty of performance. It drops the previous version's naturally aspirated V8 in favor of a tuned version of the twin-turbo 3.6-liter V6 from the Cayenne S for some added oomph. The tweaks bring power up to 440 horsepower and 445 pound-feet of torque, which is enough to rocket the model to 62 miles per hour in an estimated 5.2 seconds. The bump also equates to 20 hp and 39 lb-ft more than the current S and more importantly 20 hp and 62 lb-ft more than the previous GTS, according to Porsche.
In addition to the extra muscle, Porsche also decks the GTS out with some added features. It comes with a standard sport exhaust and Porsche Active Suspension Management system with an air suspension lets the chassis sit about three-quarters of an inch lower (20 millimeters). To bring things to a halt, the high-performance models also takes its brakes from the Turbo model.