1975 Volkswagen Rabbit - Swallowtail on 2040-cars

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Porsche again staring down another $1.8B in hedge fund lawsuits

The sequence of events from 2007 that began with Porsche's secret attempt to take over Volkswagen, and instead lead to Porsche being taken over by VW, continues to instigate lawsuits against the Stuttgart sports car manufacturer. A group of hedge funds that suffered over $1 billion in losses sued the car company in New York. Porsche had publicly stated it wasn't trying to buy VW, the hedge funds in question were shorting VW stock, and when Porsche's actual intentions were revealed, the stock shot up and the hedge funds took a beating.
The case was thrown out over the issue of jurisdiction, then appealed, only to see another suit filed on top of that. After that, most of the hedge funds withdrew their claims in New York and Porsche offered a 90-day window to refile in Germany where it is already fighting a number of other suits over the same issue. The hedge funds accepted the offer, refiling in Stuttgart for $1.8 billion in damages. According to Bloomberg, Porsche hasn't commented on the refiling, but as the same plaintiffs are involved, it's safe to assume that the carmaker still feels the case is "unsubstantiated and without merit." It has fared alright so far even in German courts, with two lesser cases against it thrown out last year.

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.

2015 Volkswagen Golf SportWagen First Drive [w/video]

Volkswagen currently offers five Golf models in the US, and in just a few weeks it will add the 2015 SportWagen to the lineup. The previous version sold as the Jetta SportWagen, although it was technically a Golf. For the new model, VW product planners decided to align all the hatchbacks under the same name. The SportWagen employs the same engines as the Golf, but significantly stretches its new MQB architecture. The result is greater practicality in the form of cargo room. With the seats up the SportWagen holds 30.4 cubic feet, almost 8 more than the Golf. The gap widens to nearly 14 cu ft with the seats folded; a max capacity of 66.5 cu ft puts the SportWagen into compact crossover territory. That added functionality leads VW to think it can sway buyers shopping the likes of the Honda CR-V and Toyota RAV4. And with the high-mpg diesel variant – 31 mpg city, up to 43 highway – VW hopes to lure those considering fuel-sipping MPVs like the Toyota Prius V and Ford C-MAX. What separates this Golf from those other two segments is the driving prowess we've come to expect from Wolfsburg's best-selling nameplate. While the silhouette is similar to the outgoing Jetta wagon, designers honed the character lines to give the Golf SportWagen a more modern, angular aesthetic. The LED headlights look sharp, the hood now scoops down at a steeper angle into the front fenders, and the general proportions – in line with other Golf models – have changed. The new SportWagen is lower, longer, and wider and than the Jetta SportWagen it replaces. Specifically, it is 1.1 inches longer, 0.7 inches wider, and despite being about an inch lower, actually boasts more headroom. Inside, things look pretty familiar to the current Golf family. There are small, premium touches such as a sporty, flat-ish-bottom wheel, piano-black trim, and an optional one-touch panoramic sunroof that makes the cabin a bright, airy, and pleasant place to be. Otherwise, it's your standard Golf fare, but with a whole lot more room out back. The same two engines that power the standard Golf – the 1.8-liter turbocharged inline-four TSI, and 2.0-liter turbocharged TDI diesel – are also found under the hood of the SportWagen. Gasoline-powered models come with a five-speed manual or a traditional six-speed auto, while the TDI gets six-speed transmissions across the board – either as a row-your-own manual, or a dual-clutch DSG auto with steering wheel-mounted paddles.