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Weekly Recap: 2016 CTS-V gives Cadillac new momentum for the new year

It's been a rough year for Cadillac. The historic luxury carmaker been in the news for all of the wrong reasons: Declining sales, ditching its advertising agency and the relocation of its headquarters from Detroit to New York. But in late December, Cadillac reminded everyone what it does best: Build some of the rawest and most compelling luxury sedans in the world, as evidenced by the 2016 CTS-V. This monster churns out 640 horsepower from a supercharged 6.2-liter V8. Sound familiar? That's the Corvette Z06 engine, and it makes this CTS the most powerful production Cadillac ever. It also puts the sporting divisions of the Germans on notice. The new CTS-V easily overpowers the Mercedes-Benz E63 AMG S 4Matic and its 5.5-liter biturbo V8 rated at 577 hp, and the BMW M5 (with the competition pack) and its 4.4-liter twin-turbo V8 that pushes out 575 hp. The rear-wheel drive Cadillac can sprint to 60 miles per hour in 3.7 seconds, which is close to the 3.5-second time turned in by the 4Matic-driven E63 S, and a bit quicker than the 4.1 seconds posted by the M5. With Magnetic Ride Control, General Motors' stout eight-speed automatic transmission (also used in the Corvette), Brembo brakes and a carbon-fiber option package that pretty much builds your car out of carbon fiber – it's clear this Cadillac means business. Truth be told, we expected this CTS-V to deliver. It's been a serious sports sedan for a decade, and the recent generation and its 556-hp arrogance have been particularly memorable. But notice what we're doing here? We're talking about product. Not who makes Cadillac's ads, or if the brand's headquarters has a mailing address in NYC. Like the 2016 ATS-V that's due in the spring, the debut of the 2016 CTS-V (on sale in late summer) is a shot in the arm for Cadillac, and its arrival comes during time of transition. The brand is trying to reinvent itself as a modern luxury maker. It wants new customers, a different image and obviously more sales. Those things are going to take time, but with a 640-hp sledgehammer of a sports sedan on tap for next year, Cadillac can still maintain some of its swagger through all of the change. Other News And Views 1984 Audi Sport Quattro heads for the auction block If you're into '80s rally cars, you're really a car person. But if you're into that stuff – and we are – this 1984 Audi Sport Quattro is sure to get your blood flowing.

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.

Volkswagen Group looks to add ridesharing brand to portfolio

Volkswagen is rapidly trying to put the ongoing diesel scandal behind it at the Paris Motor Show with the unveiling of the automaker's electric I.D. Concept. In addition to unveiling the EV, the automaker also announced that it established a yet-to-be-named subsidiary for ridesharing purposes. The new brand will be VW Group's 13th, and will add mobility services to in the form of a carpooling service, similar to that of Uber and Lyft. This will include teaming up with Gett – a cab-hailing startup that operates in roughly 70 cities worldwide, which includes New York City, that was previously known as GetTaxi. Earlier this year, VW invested $300 million in the company. In addition to ridesharing, VW Group claims it is also hard at work on its own shuttle service as the brand aims to become a leader in urban mobility services by 2025. The name of the 13th brand and more information on the subsidiary will be released in November. VW Group also announced plans to give Gett drivers in Moscow, Russia "preferential terms" on a Volkswagen Polo, Volkswagen Jetta, Skoda Octavia, or Skoda Rapid. VW Group's 13th brand sounds similar to Mercedes-Benz's Vision Van Concept, which the automaker would allow consumers to lease and purchase the vehicle, as well as rent its services on a short-term basis. While the Vision Van Concept is a commercial vehicle that has delivery drones on the roof to aid deliveries, VW Group's shuttle service sounds more like autonomous buses to ferry people around. Now that diesels are dead, Volkswagen has quickly embraced the future, where autonomous and electric vehicles coexist. Related Video: Related Gallery Volkswagen I.D. Concept: Paris 2016 View 16 Photos News Source: Volkswagen Green Paris Motor Show Volkswagen Skoda Autonomous Vehicles Electric vw diesel scandal ridesharing 2016 paris motor show gett