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VW confirms three-row Tiguan to be built in Mexico

Volkswagen has been toying with the idea of a three-row crossover for some time – as evidenced by the CrossBlue concept in 2013 and the Magellan concept way back in 2002. But now the German automaker is bringing it to fruition, and it's doing so right in our back yard (or across the fence, anyway). In its latest announcement, VW confirmed recent reports that it will build a new three-row Tiguan at its plant in Puebla, Mexico. It will be made alongside the Golf and Jetta at the company's largest assembly plant outside of Germany, after a billion-dollar expansion program that will encompass nearly a million more square feet of space and employ some 2,000 workers. Once production of the new Tiguan comes on full steam in 2017, the plant will be pumping out 500 of them every day to be delivered in the Americas, but also exported to markets overseas (save for China and Europe). At that point, VW will be producing 90 percent of its products for North America locally. Of course this won't be the first time Volkswagen will be producing a Tiguan. The current model was introduced in 2007 and underwent a facelift in 2011, but includes only two rows of seating and is imported to North America from factories overseas. VOLKSWAGEN DE MEXICO TO PRODUCE THE NEW THREE-ROW TIGUAN IN ITS PUEBLA ASSEMBLY PLANT Mar 9, 2015 - Investment of $1 billion at Puebla plant - US-CEO Michael Horn: Localization key to safeguard our competitive position - Start of production end of 2016 Puebla/Herndon, March 9, 2015 – Volkswagen de Mexico announced today that a three-row version of the Tiguan will be produced at its plant in Puebla, Mexico. The car will be launched to the markets in 2017. The company will invest $1 billion for the expansion and modernization of its production facilities at the Puebla plant, as well as tooling to produce auto parts at suppliers. Volkswagen de Mexico's strategy of technological upgrading, which started with the production of the new Golf on the Modular Transverse Matrix (MQB) platform, goes to the next step with the new Tiguan. "Localization has become key to safeguarding our competitive position on the global market and manufacturing the Tiguan in Mexico will bring production closer to the U.S.-market," said Michael Horn, president and CEO of Volkswagen Group of America. "It is another proof point that Volkswagen is committed to further growth in the U.S. and North American markets.

Audi CEO says brand's EVs are almost as profitable as its other cars

After, oh, a hundred years or so of building vehicles primarily powered by internal combustion engines, automakers around the world have been and still are pumping billions of dollars into the development of electric vehicle technology. Everything from platforms and batteries to motors and the software to control it all requires untold hours of development, and that takes time and money. Fortunately, it's not going to take long for that massive investment to start paying off, at least according to Audi CEO Markus Duesmann, who told Reuters in an interview that "The point where we earn as much money with electric cars as with combustion engine cars is now, or ... next year, 2023. They are very even now, the prices." As a brand, Audi contributed more than a quarter of overall profit for the massive Volkswagen Group, which has such powerhouse brands as Volkswagen and Porsche among others. Under the Audi umbrella are Lamborghini, Bentley and Ducati, and it seems those high-end branches aren't going anywhere, at least for now. "These brands ... are very valuable very profitable brands, where we can even expand the synergy level in the future," Duesmann said in the interview. "There are no plans whatsoever to get rid of them." Despite the overall profitability of the brand, the ongoing global chip crisis is causing headaches. "We had a very strong first half in 2021. We do expect a much weaker second half," said Duesmann, who added, "We really have trouble." In fact, so serious is the trouble that the brand is forced into "a day-to-day troubleshooting process" to limit the chip-shortage damage. The good news for the automaker is that Audi has been able to boost its profit margin from 8% prior to the pandemic in 2019 to 10.7% in the first half of 2021. The bad news is that various chip shortages aren't expected to get a whole lot better over the rest of the year. Related video:

8 new cars that are selling below MSRP

Car shopping has been a frustrating activity for many people in recent years, as strained new car inventories have led to markups and elevated prices across the board. It’s been difficult to find vehicles at anywhere near a reasonable price, and some in-demand models are still listed at a premium today. iSeeCarsÂ’ most recent study looked at several aspects of the new and used vehicle markets and found a handful of models that are selling at a discount – a rarity in todayÂ’s world. Most of the vehicles selling below MSRP in October were electric, though the Nissan Armada and Infiniti QX80 made the top eight. To be clear, weÂ’re not talking about huge discounts here – the Kia EV6 was selling with the largest discount of 3.1%. The other models on the list include: Kia EV6: -3.1 percent off MSRP Ford F-150 hybrid: -2.8% Hyundai Ioniq 6: -2.7% Nissan Armada: -1.8% Hyundai Ioniq 5: -0.9% VW ID.4: -0.6% Kia Niro EV: -0.3% Infiniti QX80: -0.2% Electric and hybrid vehicles like the Kia and Ford have been selling at a premium for a long time, as they experienced stronger than expected demand and had challenging early production runs. That theyÂ’re now selling at a discount could indicate wavering buyer demand, but itÂ’s too early to start sounding any serious alarm bells. Though some models are getting cheaper, the industry average is still heading in the wrong direction. The average MSRP of new cars sold last month was $42,510, while the average sales price was $46,077. That 8.4% overage is surprising to see so many months after the worst of the pandemic has passed. iSeeCarsÂ’ executive analyst Karl Brauer had a few words of encouragement, however, saying, “There are still very few ‘dealsÂ’ in the new car market. Shoppers looking to pay below MSRP for a new car will have to do their research, but a small number of models can be bought below sticker price.” Green Ford Hyundai Infiniti Kia Nissan Volkswagen Car Buying cheap cars