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VW has received several tentative bids for Ducati

Italy's Benetton family is vying with motorbike firms and buyout funds for control of Italian motorcycle brand Ducati, which is being sold by Germany's Volkswagen, sources involved in the process told Reuters. Volkswagen, whose Audi division controls Ducati, has received several tentative bids with the Benetton family's investment vehicle Edizione Holding valuing the Monster motorbike maker at $1.2 billion, one of the sources said. As well as Edizione Holding, U.S. buyout fund Bain Capital, which owns a stake in Ski-Doo snowmobiles maker BRB, and two Indian motorbike firms, Eicher Motors and Bajaj Auto, have also bid for Ducati, the sources said. Indian carmaker Eicher controls Royal Enfield, a motorcycle brand established in 1893 which ranks as one of the oldest. Strategic bidders also include U.S. automotive firm Polaris Industries, which earlier this year said it would wind down its struggling Victory Motorcycle brand. A shortlist of bidders for a second stage of the auction could be selected as soon as Saturday, two of the sources said. Volkswagen adviser Evercore has a long list of bidders including private equity funds such as Ducati's previous owner Investindustrial, CVC Capital Partners, Advent and PAI, all hoping to outbid industry players, the sources said. If it gets to the second round, Edizione Holding could seek to form a consortium with a financial investor, two of the sources said, in a bid to secure control of Ducati, whose racers have won the Superbike world championship 14 times, with Carl Fogarty and Troy Bayliss its most successful riders. Audi, Edizione Holding, Investindustrial, Advent and PAI declined to comment, while the other interested groups were not immediately available for comment. PRICING CHALLENGES For some buyout funds, Ducati's valuation of up to $1.4 billion – which sources said is based on a multiple of more than 10 times its core earnings of roughly 100 million euros – is a tall order as they lack the synergies that some motorbike makers could achieve. But Investindustrial founder Andrea Bonomi, who sold Ducati to Audi for about 860 million euros in 2012, is serious about a comeback, one of the sources said. China's Loncin Motor was among a group of industry players that initially showed interest in Ducati, alongside Harley-Davidson. The latter has, however, decided against making a bid due to Ducati's price tag, while it could not be established if Loncin Motor had carried on bidding.

VW will need to recall 323,700 diesel vehicles in India

Volkswagen Group's diesel emissions scandal continues to spread, and now the automaker must recall 323,700 diesel vehicles in India because of too much pollution, according to Bloomberg. The campaign covers models from several of the group's brands including VW, Audi, and Skoda. The Automotive Research Association of India first discovered the emissions irregularities after conducting its own real world and lab tests, and the Indian government then commanded VW to explain what was happening. The country's regulators will allow the automaker to set the recall schedule for the repairs, according to a government official who spoke to Bloomberg, and the campaign will likely happen in phases. Among the affected vehicles, there will be about 100,000 from the VW brand including the Jetta, Passat, and some variants of the Polo. VW already has repairs for some of the affected diesel engines in Europe, and the company can allegedly fix the emissions problem with new software and small hardware changes. The situation is harder in the US where regulators still need to approve any proposed solutions, and VW also must now recall its 3.0-liter V6 TDI in California to eliminate other problematic code. The German automaker faces investigations from regulators all over the world into its emissions evasions, and they could be quite costly. One estimate already suggests the minimum price of the potential repairs, fines, and other expenses at about $24.5 billion. Officials in Brazil have already fined the company $13 million for pollution issues with the diesel Amarok pickup and requested a recall to fix them.

Volkswagen reveals updated Sharan minivan for Europe

Volkswagen's experiment with rebadging Chrysler minivans as the Routan may not have gone so well for the German automaker in North America, but overseas it offers vans of its own. Even aside from the fullsize Crafter and Transporter vans sold by Volkswagen Commercial Vehicles, the passenger car division offers its own minivans like the Touran and the Sharan. Now it's revealed an updated version of the latter. The VW Sharan was first introduced back in 1995 and entered its second generation in 2009, built in Portugal alongside the Seat Alhambra and offering seating for seven in its five-door form. The new model looks largely the same as the existing one, but benefits from new taillights and a revised interior. But most of the upgrades are found under the skin. There's an array of turbocharged and direct-injected engines that are now up to 15 percent more efficient than those found in the existing model, with two gasoline engines ranging in output from 148 horsepower to 217, and three diesels producing 113, 148 and 181 hp. Along with the updated powertrain options, the revised Sharan also gets a host of new safety and convenience systems, including automatic post-collision braking, Front Assist with City Emergency Braking, Lane Assist, Adaptive Cruise Control, Park Assist and Blind Spot Monitor. Inside, the infotainment system has been upgraded as well. The updated Sharan arrives hot on the heels of the new Caddy released earlier this month and just in time for the 2015 Geneva Motor Show. Wolfsburg, 18 February 2015 Show premiere of the Sharan in Geneva - Even more technical highlights for the popular Volkswagen MPV - New TSI and TDI engines* are up to 15 per cent more fuel efficient Volkswagen is presenting the technically updated Sharan at the Geneva International Motor Show. Numerous new convenience and assistance systems make the family-friendly MPV one of the most advanced models in its segment. A wide range of infotainment systems also guarantees full connectivity to many smartphones and tablets. At the same time, the fuel economy of the petrol and diesel engines* was improved by up to 15 per cent. The updated Sharan will arrive on the German market this summer; advance sales begin in April. Along with the standard Automatic Post-Collision Braking System, which automatically initiates braking after a collision if the driver is no longer able to intervene, numerous optional assistance systems are available in the updated Sharan as well.