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Audi CEO Stadler gets 5-year contract extension

Audi CEO Rupert Stadler will keep his seat at the top thanks to a contract extension. Volkswagen didn't divulge the length of the new contract, but German newspaper Frankfurter Allgemeine Zeitung said the term is five years. Stadler took over the current position in 2007 when current VW CEO Martin Winterkorn left it. That year the brand sold 93,506 in the US and 964,151 in total worldwide; last year it sold 158,061 in the US and 1,575,480 in total worldwide.
Even though the brand has managed only about half the US sales of its two main rivals, it led the charge globally through the first two months of this year. Over the next few years we'll see its US efforts increase with a $30.3-billion investment, 11 new models and the opening of its first North American plant. And right now it can make hay with its World Car of the Year award winner, the A3.
In addition to Stadler, VW sales boss Christian Klingler is said to have received a five-year contract extension, and VW China head Jochem Heizmann has earned another two years on the job.

2016 Audi TT [w/video]

What came first, the metrosexual or the Audi TT? While it was close, the descriptor-turned-epithet preceded the 1995 concept car by one year. However, they were both notable cultural evolutions and they happened to work together perfectly. Hugh Grant, playing the cad Will Freeman in the 2002 film About a Boy, could not have chosen a better example of character than his silver TT.
A decade later, the original TT was still important enough that when rumors of the third-generation coupe began to surface in late 2012, the most exciting fantasy was that the 2014 coupe might "recapture some of the distinctiveness and impact" of a 16-year-old car (the TT came to market in 1998). Even speculation by dedicated Audi observers thought the brand would do something novel, even if not mimicry. The obvious takeaway: no one was going to be lighting any candles for the departed second generation. All of that is why when the first leaked image slipped onto the Internet, people began to get suspicious. When the third generation took the stage at the Geneva Motor Show, we could almost hear the digital deflation over the Ethernet, our poll results notwithstanding.
Yet it's still the TT, and in spite of having seen its interior and virtual cockpit and clocked its specs, we couldn't judge it before heading to Marbella, Spain to drive it. What we found out was while it's better than the second generation, it's still very much a TT.

Automakers paying Chinese dealers for lower-than-expected sales

The Chinese dealers vs. foreign manufacturers story won't quit. It began with a story on the struggles faced by FAW-Toyota joint venture dealers, with supposedly 95 percent of the showrooms losing money, and 10 percent of them doing so poorly that they'd have to exit the business. The problem is mandated sales targets, most set when the country's economy was racing. Now that things have slowed, China's dealers are swimming in unsold cars and the costs to keep them. In the case of FAW-Toyota, dealers asked Toyota to hand over 2.2 billion yuan ($355 million) to help address the situation. That was followed by a report noting the issues that Honda, BMW, and Nissan dealers are having with the same issue, revealing that the Chinese Automobile Dealers Association (CADA) had taken the highly unusual step of writing to the Chinese government to complain. Now Reuters reports that CADA is not only pressing its case even harder, it's being open about it: it announced that BMW agreed to pay dealers 5.1 billion yuan ($820 million) to alleviate poor profits last year. Unnamed sources said Audi has thrown 2 billion yuan into the kitty for subsidies, and Daimler has contributed "about 1 billion yuan" to its dealers. The battle isn't just about 2014, but how business will be run in 2015 as well: Chinese Porsche dealers have requested the automaker lower its 2015 target of 64,000 cars, which would be a 40-percent increase on its 2014 sales of 46,931 vehicles. One analyst called it "shocking" that the CADA has taken its fight public, while CADA comments continue to imply that dealers have been railroaded to the cliff's edge without recourse. "Due to the difference in status," it's deputy secretary said, "individual dealers are not willing to, or don't dare to, talk frankly with the carmakers...." Both parties need one another, so they'll figure out a way to make it work – but that could mean acknowledging the Chinese market is behaving more like a mature one, not an emerging one. News Source: ReutersImage Credit: Lintao Zhang/Getty Images Earnings/Financials Audi BMW Porsche Toyota Car Dealers Luxury