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Investors storm Volkswagen with $9 billion in lawsuits

Volkswagen's investors are latest group to take up pitchforks against the embattled automaker, and they're seeking $9 billion in damages, Reuters reports. The investor lawsuits were filed in a court in Braunschweig, Germany, near Volkswagen's Wolfsburg headquarters. On Monday, the first business day following the anniversary of the emissions revelations, the court received 750 lawsuits alone. All told, about 1,400 lawsuits have been filed. The largest single claim totals $3.7 billion and was filed more than six months ago. The lawsuits stem from complaints that Volkswagen didn't divulge information on the cheating software to investors quickly enough. Volkswagen has said that it hasn't broken any capital market laws. The $21.5 billion the company set aside to weather the storm may not be enough. The consumer fix is estimated to run the company $14.7 billion, either through buybacks or a fix that still seems unclear. In addition to the lawsuits, Volkswagen CEO Matthias Mueller confirmed that Audi boss Rupert Stadler is under investigation regarding the scandal. Mueller refused to give further details, but this shouldn't come as a surprise to anyone. Audi has admitted that its 3.0-liter V6 was equipped with the same emissions-cheating software as the 2.0-liter four-cylinder diesels. Stefan Knirsch, Audi's head of development, has been suspended as part of the overall investigation. Knirsch took over duties after his predecessor quit. Knisch was previously head of engine development at Audi. Related Video: News Source: Reuters Green Hirings/Firings/Layoffs Audi Volkswagen Emissions Diesel Vehicles vw diesel scandal

Honda, Hyundai top car residual value / depreciation awards list

J.D. Power announced its 2022 U.S. ALG Residual Value awards Thursday, with Honda and Hyundai topping the charts at three models apiece in the industry-standard study. The term "residual" is an industry projection of how well a car will hold its resale value three years from the original purchase date – a key metric in calculating lease costs and projecting new-car depreciation.  Award winners included several enthusiast-friendly options, including the BMW 2 Series, Dodge Charger, Subaru WRX, Mercedes-AMG GT and Toyota Tacoma. Even the Ford Bronco was recognized, beating out the Jeep Wrangler in the Off-Road Utility segment. That may seem odd given the car's issue-plagued launch, but scarcity apparently trumps quality control issues over the longer term. Here's a scrolling complete list of winners broken down by segment: “Accurately forecasting residual values in the auto industry is a key factor in assessing an estimated $225 billion lease portfolio of vehicles in the United States,” said ALG VP Eric Lyman in the company's announcement. "The brands and vehicle models that rise to the top demonstrate that they score well across the award programÂ’s criteria, including manufacturersÂ’ superior design and quality." ALG looks at several factors to determine future value, which is especially tricky with new models. For 2022, 16 different brands were recognized across 29 segments. Behind Honda and Hyundai, Audi, Kia, Mercedes-Benz, Land Rover and Subaru all managed to chart with two different models. Here's the rundown of those who won in more than one category: Honda Civic Honda Passport Honda Odyssey Hyundai Accent Hyundai Kona Hyundai Kona EV Audi A6 Allroad Audi Q3 Kia K5 Kia Telluride Land Rover Range Rover Velar Land Rover Discovery Mercedes-AMG GT 4-Door Mercedes-Benz Metris:  Subaru  WRX and  Subaru Forester Toyota Tacoma  Toyota Tundra "The award process consists of evaluating 284 models through analysis of used-vehicle performance, brand outlook and product competitiveness," the announcement said. "Eligibility for a brand award requires a manufacturer to have model entries in at least four different segments. To account for differences across trim levels, model averages are weighted based on percentage share relative to the entire model line."   Audi Honda Hyundai Kia Land Rover Mercedes-Benz Subaru Toyota

Audi H-Tron Concept is a familiar face now with hydrogen power

Audi shows its green side at the 2016 Detroit Auto Show with the H-Tron Concept, a hydrogen-fueled version of the recent E-Tron Quattro concept. The new fuel-cell powertrain gives the futuristic crossover an estimated range of 372.8 miles on the European cycle, and the company claims that the solar panel that spans the roof could let drivers recoup 621 miles of range each year from the sun's rays. The H-Tron's powertrain benefits from both the fuel cell and a lithium-ion battery for an extra boost. The hydrogen system alone can produce 148 horsepower, and three tanks under the passenger compartment carry the fuel. The battery can also provide enough energy for an extra 134 hp for short periods. Its combined torque rating of 406 pound-feet is impressive. The Audi puts the power down through electric motors at the front and rear axle to allow for an electrified version of Quattro all-wheel drive, and the automaker claims the concept could accelerate to 62 miles per hour in less than 7 seconds. Other than the new coat of eye-catching yellow paint for Detroit, the H-Tron looks largely the same as the E-Tron Quattro, and both of them also ride on the Volkswagen Group's second-generation modular longitudinal platform. The most notable tweaks to the outside are the smoother hood and larger openings in the lower fascia of the latest concept. The two vehicles are also twins on the inside, and they both feature cabins with Audi's latest virtual cockpit with OLED screens. Zero emissions: the Audi h-tron quattro concept Audi h-tron quattro concept High range, swift refueling, sporty road performance: The Audi h-tron quattro concept car can boast all these virtues. It combines a highly efficient fuel cell achieving an output of up to 110 kW with a powerful battery that can provide a temporary boost of 100 kW. The car can be fully refueled with hydrogen in around four minutes, and is then ready to drive for up to 600 kilometers (372.8 mi). In another major step, Audi will go into production with its new technologies for piloted driving and parking in 2017 along with the next generation of the A8 luxury sedan. The technology study already provides a glimpse of things to come. The Audi h-tron quattro concept is another milestone along the path towards future mobility.