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VW offers to buy back new diesels if bans introduced

By Maria Sheahan FRANKFURT, Germany — Volkswagen will buy back new diesel cars if German cities ban them, it said on Thursday, seeking to reassure potential buyers and stem a plunge in sales of diesel vehicles. Europe's biggest automaker also said it would extend incentives for buyers of new diesel cars. The moves come after a German court ruled last month that cities in the country could ban the most polluting diesel vehicles from their streets. Many German cities exceed European Union limits on atmospheric nitrogen oxide, known to cause respiratory diseases. Fears of bans have led to a plunge in demand for diesel vehicles, which are also key to carmakers' attempts to meet new EU rules on carbon dioxide (CO2) emissions. While diesel cars are heavily criticized for emitting nitrogen oxide, they spew out less CO2 than gasoline equivalents. Diesel car sales plunged 19 percent in Germany last month. At its core VW brand, Volkswagen said its buyback offer applied to new diesels bought between April 1 and the end of 2018 and would kick in if the city in which the buyer lived or worked banned diesels within three years of the purchase. It said its dealerships would buy back diesel vehicles affected by bans at their current value if their owners at the same time bought a new vehicle that was not affected by cities' driving restrictions. At Czech brand Skoda, the guarantee applies to cars bought between April 1 and the end of June, but will cover bans introduced within four years of the purchase date. At premium brand Audi, the offer only covers leased vehicles. Volkswagen also said it was extending to the end of June incentives for customers trading in older diesels for new ones. Fellow German carmaker BMW said earlier this month it would offer to take back leased vehicles if diesels were banned within 100 kilometers (62 miles) of the operator's home or place of work. There has been a global backlash against diesel-engine cars since Volkswagen admitted in 2015 to cheating U.S. exhaust tests. But Germany's government is seeking to avoid widespread bans on heavily polluting diesel vehicles, which companies say could cut the resale value of up to 15 million vehicles in Europe's biggest car market. In Germany, where motorists expect to drive powerful cars on motorways with no speed limits, any restrictions will be unpopular.

Autoblog Podcast #416

Episode #416 of the Autoblog Podcast is here, and this week, Dan Roth, Steven Ewing, and Brandon Turkus talk about the 2016 Mazda MX-5 Miata, seeing the 2016 Nissan Maxima in the company's Super Bowl ad, and GMC's potential plans for a Jeep Wrangler fighter. Of course, the podcast starts with what's in the garage and finishes up with some of your questions, and for those of you who hung with us live on our UStream channel, thanks for taking the time. Check out the rundown with times for topics, and you can follow along down below with our Q&A. Thanks for listening! Autoblog Podcast #416 Topics 2016 Mazda MX-5 Miata first drive 2016 Nissan Maxima previewed in Super Bowl ad GMC mulling Jeep Wrangler fighter In The Autoblog Garage 2015 Hyundai Genesis 5.0L V8 2015 Honda CR-V Long-Term 2015 Volkswagen GTI Hosts: Dan Roth, Steven Ewing, Brandon Turkus Runtime: 01:36:43 Rundown Intro and Garage - 00:00 Maxima – 30:48 Miata – 41:46 GMC/Wrangler – 59:14 Q&A - 01:11:13 Get The Podcast UStream – Listen live on Mondays at 10 PM Eastern at UStream iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Feedback Email – Podcast at Autoblog dot com Review the show in iTunes Podcasts GMC Honda Hyundai Jeep Mazda Nissan Volkswagen vw gti nissan maxima

Audi spending an additional $2.5 billion on expansion through 2019

Every year, it seems the Volkswagen Group announces a new and larger spend to push growth and profit, with Audi a regular recipient of the moolah. That's reasonable, seeing as hauls in 40 percent of Group operating profits. In December last year Audi said it would spend an additional 100 million euros ($122M US) per year through 2018 to develop new models and expand production, targeting 60 models by 2020 and luxury sales leadership. This month Audi said it will boost that by another two billion euros ($2.5B US) over the next five years, for a total outlay of 24 billion euros from 2014 to 2019. Something like 70 percent of those billions will be spent on new models, technology like "connectivity and lightweight construction," and factory expansion at its plants in Ingolstadt and Neckarsulm. Most of the ten models that will plump the lineup to 60 cars will mainly be aimed at the C and D segments, as well as crossovers, the brand's burgeoning portfolio of PHEV models, and all-electric cars that will begin staking ground in the segment. The big spend comes at the same time as Audi is working hard to reduce costs by $2.5 billion to maintain profitability, part of a larger push by VW to cut costs by $6.1 billion by 2017. More than a billion euros will go to new factories in Mexico and Brazil. Work begins on the Mexico plant next year, and when it comes on-line in 2016, Audi's Q5 successor will roll out of its warehouse doors; Audi has already announced it will hire 850 more workers next year in Mexico. When that's done, Mexico's production of German luxury cars will only trail that of Germany, China and the US. The company's Brazil plant will produce the A3 and S3 starting next year, and the brand figures luxury car buying there will triple by 2017. News Source: Reuters Earnings/Financials Plants/Manufacturing Audi Volkswagen Luxury Mexico Brazil ulrich hackenberg