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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.

VW's Winterkorn tells 20,000 staffers of big cost-cutting plans

During a gathering of 20,000 Volkswagen Group employees at company headquarters in Wolfsburg, Germany on Wednesday, CEO Martin Winterkorn dropped a bombshell. The boss stated that the automaker isn't operating efficiently enough and admitted the company needs to radically start cutting back to raise its profit margins. To right the ship, Winterkorn has proposed killing off less profitable models and spending less on research and development.
According to Reuters, Winterkorn wants to raise the VW brand's profit margin from about 2.9 percent in 2013 to a target of 6 percent. To make that possible, his plan amounts to increasing cost cutting until Volkswagen reaches about 5 billion euros ($6.7 billion) per year to get things back in order. "Over the short-term, we urgently need more efficiency and higher profit," the CEO said during his speech, according to Reuters.
However, Winterkorn can't make these decisions unilaterally. Volkswagen's works council also has a seat on the supervisory board to represent laborers, and it isn't likely to take the proposed cuts sitting down.

2015 VW e-Golf gets cheaper Limited Editon, starts at $33,450*

Typically when an automaker announces a new limited edition of one of its models, it comes at a premium. Maybe the extra cost turns out to be worth it due to bundled options, but there's almost always a cost. But not with the new Volkswagen e-Golf Limited Edition. For this model, VW has gone the opposite direction by cutting equipment out of the electric hatchback and charging less for it. Compared to the SEL Premium model, the Limited Edition of the e-Golf drops the alloys in favor of 16-inch steel wheels, halogen headlights in place of LEDs, cloth upholstery instead of leatherette, and drops the heat-pump system. As a result, the e-Golf costs $2,000 less, priced at $33,450 (*before delivery) and available to lease for $229 per month. For that, you still get the electric motor with 199 pound-feet of torque, 24.2 kWh lithium-ion battery and 7.2 kW onboard charger and class-leading energy consumption. VOLKSWAGEN ANNOUNCES A NEW TRIM LINE FOR THE FULLY-ELECTRIC 2015 e-GOLF - e-Golf Limited Edition model goes on sale with a starting price of $33,450 - Drivetrain consists of 24.2 kWh lithium-ion battery and an electric motor with 199 pound-feet of torque; 7.2 kW onboard charger is standard - Standard fast charging capability allows up to 80 percent battery charge in 30 minutes - EPA estimated fuel economy rating of 116 combined MPGe puts e-Golf at top of the 2015 EPA Compact Size Class - A great value, with a host of features that include KESSY® Keyless access with push-button start, navigation system, LED Daytime Running Lights (DRL) with C-shaped light signature, and more Herndon, VA – Volkswagen of America, Inc., today, announced that a lower-priced version of the fully-electric 2015 Volkswagen e-Golf will go on sale at participating dealerships. The 2015 e-Golf Limited Edition is priced nearly $2,000 less than its SEL counterpart at $33,450, without compromising performance, quality, or versatility. The e-Golf Limited Edition is also available at a monthly lease price of $229, plus applicable fees. The e-Golf Limited Edition is built on the same sporty Modular Transverse Matrix (MQB) platform as the rest of the award-winning Golf family. It is powered by a compact electric motor and a 24.2 kWh lithium-ion battery (built in-house at the Volkswagen facility in Braunschweig, Germany), and offers 115 horsepower and class-leading torque of 199 pound feet.