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Coronavirus prompts VW to stop production throughout Europe

FRANKFURT — Volkswagen Group, the world's biggest carmaker, is suspending production at factories across Europe as the coronavirus pandemic hits sales and disrupts supply chains, the company said on Tuesday. The German carmaker, which owns the Audi, Bentley, Bugatti, Ducati, Lamborghini, Porsche, Seat and Skoda brands, also said that uncertainty about the fallout from coronavirus meant it was impossible to give forecasts for its performance this year. "Given the present significant deterioration in the sales situation and the heightened uncertainty regarding parts supplies to our plants, production is to be suspended in the near future at factories operated by group brands," Chief Executive Herbert Diess said on Tuesday. Volkswagen's powerful works council concluded it was not possible for workers to maintain a safe distance from each other to prevent contagion and recommended a suspension of production at its factories from Friday. Production will be halted at VW's Spanish plants, in Setubal in Portugal, Bratislava in Slovakia and at the Lamborghini and Ducati plants in Italy before the end of this week, Diess said. Most of its other German and European factories will prepare to suspend production, probably for two to three weeks, while Audi said separately it would halt output at its plants in Belgium, Germany, Hungary and Mexico. Volkswagen's vast factories in Chattanooga, Tennessee, in Puebla, Mexico, and plants in Brazil were not affected, but that would depend on how the coronavirus spreads, VW said. Volkswagen has 124 production sites worldwide of which 72 are in Europe, with 28 in Germany alone. "2020 will be a very difficult year. The coronavirus pandemic presents us with unknown operational and financial challenges. At the same time, there are concerns about sustained economic impacts," Diess said.   Production in China resumes Volkswagen Group sold 10.96 million vehicles last year, putting it ahead of Toyota based on the latest figures from the Japanese carmaker. Globally, VW employs 671,000 people and it delivered 4.86 million vehicles to European customers in 2019. Only last month the car and truck maker based in Wolfsburg, Germany, predicted that vehicle deliveries this year would match 2019 sales and forecast an operating return on sales in the range of 6.5% to 7.5%. "The spread of coronavirus is currently impacting the global economy. It is uncertain how severely or for how long this will also affect the Volkswagen Group.

Winterkorn remains CEO of Volkswagen's majority shareholder

Martin Winterkorn may have stepped down as the chief executive of Volkswagen in the wake of the diesel emissions scandal, but he's not out from under the company's large umbrella just yet. In fact, according to a report from Reuters, he still holds four top-level positions not only within the industrial giant's bureaucracy, but at the top of it. And one of those is as CEO of the company's largest shareholder. That holding company is Porsche SE, the investment arm of the Piech and Porsche families (Ferdinand Porsche's descendants) which holds over 50 percent of VW's shares. In 2008, Porsche SE acquired majority interest in the Volkswagen Group which in turn acquired Porsche the automaker – and placed VW's Winterkorn at the head of the executive board of the holding company. Though Winterkorn has resigned from his position as chairman of VW's management board, he has apparently yet to step down from running Porsche SE. That's not the only job that Winterkorn still retains in VW's senior management. He also continues to serve as chairman of Audi, as well as truck manufacturer Scania, and the new Truck & Bus GmbH into which Scania has been grouped together with Man. It remains unclear if or when Winterkorn might resign from those positions as well, or how his tenure in those posts might affect the company's effort to start over in the aftermath of the scandal in which it is currently embroiled. Also unclear, Reuters reports, is how much, exactly, Winterkorn will receive in compensation after having stepped down from his chair at the head of the VW executive board. His pension is reported at over $30 million, but he could be awarded a large severance package as well amounting to as much as two years' worth of his annual compensation, which amounted to around $18 million last year. Whether he receives the severance pay or not is expected to depend on whether his resignation is considered by the supervisory board to have been the result of his own missteps or independent of the situation that resulted in his resignation. One way or another, he's not likely to go poor anytime soon.

Audi SQ7 TDI packs 48V electric compressor, 664 lb-ft

Take a look at the new Audi SQ7 TDI. It's the first time Audi has done an S performance version of its flagship sport-ute, and packs under the hood a 4.0-liter V8 turbo diesel engine mated to an eight-speed automatic and all-wheel drive. It produces a potent 435 horsepower, and an absolutely bonkers 664 pound-feet of torque. The Audi SQ7 TDI produces a massive 664 lb-ft of torque. Impressive as it is, though, that doesn't even tell the full story. That's enough to make us forget it wasn't there in Geneva. It's also more torque than just about anything the Volkswagen Group makes – short of the Bentley Mulsanne Speed and the new Bugatti Chiron. Not even the Lamborghini Aventador SV or Bentley Continental GT Speed can touch that torque figure. Nor can competition like the Porsche Cayenne S Diesel (with its 385 hp and 627 lb-ft) or the BMW X5 M50d (381 hp and 546 lb-ft). It may not surpass the old twelve-cylinder Q7 6.0 TDI (with its 493 hp and 738 lb-ft), but still trounces the VW Touareg V10 TDI (309 hp and 553 lb-ft) – which was strong enough to tow a jet airplane, while the new SQ7 is fast enough to out-drag one (as you can see from the video below). Impressive as it is, though, that headline-grabbing torque figure doesn't tell the full story. To get there, Audi employed two conventional, sequential turbochargers and a third compressor that – in an industry first that's been a long time coming – is powered electrically. The engineers in Ingolstadt installed a beefier 48-volt electric subsystem to power the electric compressor (among other systems) and its latest valvetrain tech for the first time in a diesel. The result, Audi says, is a lack of any perceptible turbo lag – and a 0-62 time quoted at 4.8 seconds, en route to the typical electronically limited top speed of 155 miles per hour. As if that weren't enough, Audi also equipped the SQ7 TDI with an optional suspension package that coordinates the activities of three systems. There's a differential, a four-wheel steering system, and a clever electromechanical roll stabilization system that employs an electric motor (made possible once again by that 48-volt system) and a three-stage planetary gearbox to keep it all level and improve ride quality over rough surfaces. The sum total is an impressive technological tour de force on Audi's part, but one that we may just have to admire from afar.