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VW close to decision on selling Bugatti to Rimac

FRANKFURT — Electric hypercar maker Rimac Automobili and Volkswagen's supercar brand Bugatti are a good technological fit, Porsche's CEO told German weekly Automobilwoche, fueling hopes that a deal between the two could happen soon. British automotive magazine Car last year reported that Volkswagen was on the verge of selling Bugatti to Rimac Automobili, citing sources. In exchange, Porsche, also owned by Volkswagen, would raise the 15.5% stake it owns in Rimac, founded by Croatian entrepreneur Mate Rimac, Car said. "At the moment there are intense deliberations on how Bugatti can be developed in the best possible way. Rimac could play a role here because the brands are a good technological fit," Porsche CEO Oliver Blume said. "There are various scenarios with different structures. I believe that the issue will be decided by the group in the first half of the year," said Blume, who also sits on the management board of parent Volkswagen. Rimac has developed an electric supercar platform, which he supplies to other carmakers, including Pininfarina. Blume also confirmed higher savings targets for Porsche, saying the carmaker plans to support results by 10 billion euros ($12.1 billion) of cost cuts by 2025, up from 6 billion previously. Related Video:

Car and Driver shows off awesome 1960s ads

Someone must have recently rediscovered the keys to the archives at Car and Driver, and the access has been put to good use. Following last month's fantastic look at automotive ads from the '50s, there's now a new gallery running from March 1960 through December 1969. This collection provides a great overview of a decade full of iconic cars. If you're a fan of Carroll Shelby, particularly his Mustangs, then there's a lot to love among this group. One ad from July 1965 aimed to sell the GT350, but with an ocean of text and a tiny picture, it probably could've used a once-over by Don Draper's team. By December '65, the copywriters ironed out the problems with a spot proclaiming boldly "Shelby GT350 is 'Son of Cobra.'" The company offered some great accessories, too. For those into European motoring, there's a humorous attempt to sell the Alfa Romeo Giulia as both a racecar and family hauler. Toyota also boasts about the winning record for the 2000GT. Among the best text comes from BMW for lines like: "What's BMW got? The most advanced high-performance engine in any production car, for a cruising speed of 100 mph." Of course, Volkswagen's famous "Lemon" ad for the Beetle also gets its due here. Separately, each of these ads is fascinating, but taken together they tell the story of a great decade of motoring. Go give them all a read at Car and Driver. Related Video: News Source: Car and DriverImage Credit: GM Heritage Center Marketing/Advertising Read This Alfa Romeo BMW Ford Toyota Volkswagen shelby alfa romeo giulia shelby gt350 toyota 2000gt

Mercedes, Nissan and VW slammed by China's CCTV

Several automakers in China, including joint ventures with Nissan, Volkswagen and Mercedes-Benz, are in hot water because their dealers are allegedly overcharging customers for repairs. China Central Television, the country's state broadcaster, leveled the claims during its annual Consumer Day expose. CCTV runs these reports each year on March 15 and often takes aim at foreign companies operating within China. This year the focus fell on automakers, according to the Financial Times, and no domestic car companies were targeted. The network also accused dealers of overselling parts, and it took aim at Jaguar Land Rover specifically for problems surrounding transmission repairs, according to Reuters. The yearly stories are often criticized for focusing on outside businesses. "It panders to a certain type of nationalism as it tends to target foreign companies and rarely touches large state groups or monopolies," Qiao Mu, a journalism professor at Beijing Foreign Studies University, said to the Financial Times. Foreign automakers seem to face tighter scrutiny when doing business in China than their domestic counterparts, in general. The government there investigated several luxury brands, including Audi and BMW, last year for how they supplied spare parts and whether the components were overpriced. Some incurred fines, and Lexus decided to lower its prices. Volkswagen also experienced protests when owners felt the company wasn't handling a recall properly. The CCTV report also comes as many auto dealers in China are feeling a pinch due to high mandated sales targets from automakers. The situation was so dire in early 2015 several brands cut back sales targets and in some cases even paid the sellers to offset poor profits. News Source: Financial Times - sub. req., ReutersImage Credit: Andy Wong / AP Photo Government/Legal Mercedes-Benz Nissan Volkswagen Car Dealers Auto Repair Maintenance jaguar land rover