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Audi spending an additional $2.5 billion on expansion through 2019

Every year, it seems the Volkswagen Group announces a new and larger spend to push growth and profit, with Audi a regular recipient of the moolah. That's reasonable, seeing as hauls in 40 percent of Group operating profits. In December last year Audi said it would spend an additional 100 million euros ($122M US) per year through 2018 to develop new models and expand production, targeting 60 models by 2020 and luxury sales leadership. This month Audi said it will boost that by another two billion euros ($2.5B US) over the next five years, for a total outlay of 24 billion euros from 2014 to 2019. Something like 70 percent of those billions will be spent on new models, technology like "connectivity and lightweight construction," and factory expansion at its plants in Ingolstadt and Neckarsulm. Most of the ten models that will plump the lineup to 60 cars will mainly be aimed at the C and D segments, as well as crossovers, the brand's burgeoning portfolio of PHEV models, and all-electric cars that will begin staking ground in the segment. The big spend comes at the same time as Audi is working hard to reduce costs by $2.5 billion to maintain profitability, part of a larger push by VW to cut costs by $6.1 billion by 2017. More than a billion euros will go to new factories in Mexico and Brazil. Work begins on the Mexico plant next year, and when it comes on-line in 2016, Audi's Q5 successor will roll out of its warehouse doors; Audi has already announced it will hire 850 more workers next year in Mexico. When that's done, Mexico's production of German luxury cars will only trail that of Germany, China and the US. The company's Brazil plant will produce the A3 and S3 starting next year, and the brand figures luxury car buying there will triple by 2017. News Source: Reuters Earnings/Financials Plants/Manufacturing Audi Volkswagen Luxury Mexico Brazil ulrich hackenberg

NHTSA, IIHS, and 20 automakers to make auto braking standard by 2022

The National Highway Traffic Safety Administration, the Insurance Institute for Highway Safety and virtually every automaker in the US domestic market have announced a pact to make automatic emergency braking standard by 2022. Here's the full rundown of companies involved: BMW, Fiat Chrysler Automobiles, Ford, General Motors, Honda, Hyundai, Jaguar Land Rover, Kia, Mazda, Mercedes-Benz, Mitsubishi, Nissan, Subaru, Tesla, Toyota, Volkswagen, and Volvo (not to mention the brands that fall under each automaker's respective umbrella). Like we reported yesterday, AEB will be as ubiquitous in the future as traction and stability control are today. But the thing to note here is that this is not a governmental mandate. It's truly an agreement between automakers and the government, a fact that NHTSA claims will lead to widespread adoption three years sooner than a formal rule. That fact in itself should prevent up to 28,000 crashes and 12,000 injuries. The agreement will come into effect in two waves. For the majority of vehicles on the road – those with gross vehicle weights below 8,500 pounds – AEB will need to be standard equipment by September 1, 2022. Vehicles between 8,501 and 10,000 pounds will have an extra three years to offer AEB. "It's an exciting time for vehicle safety. By proactively making emergency braking systems standard equipment on their vehicles, these 20 automakers will help prevent thousands of crashes and save lives," said Secretary of Transportation Anthony Foxx said in an official statement. "It's a win for safety and a win for consumers." Read on for the official press release from NHTSA. Related Video: U.S. DOT and IIHS announce historic commitment of 20 automakers to make automatic emergency braking standard on new vehicles McLEAN, Va. – The U.S. Department of Transportation's National Highway Traffic Safety Administration and the Insurance Institute for Highway Safety announced today a historic commitment by 20 automakers representing more than 99 percent of the U.S. auto market to make automatic emergency braking a standard feature on virtually all new cars no later than NHTSA's 2022 reporting year, which begins Sept 1, 2022. Automakers making the commitment are Audi, BMW, FCA US LLC, Ford, General Motors, Honda, Hyundai, Jaguar Land Rover, Kia, Maserati, Mazda, Mercedes-Benz, Mitsubishi Motors, Nissan, Porsche, Subaru, Tesla Motors Inc., Toyota, Volkswagen and Volvo Car USA.

2019 Volvo V60 vs. wagon competitors: How they compare on paper

The next-gen Volvo V60 was finally revealed this week. The outgoing model has been on sale since 2011, getting a few minor updates along the way. The new model is based off Volvo's Scalable Platform Architecture that underpins other models like the XC90 and XC60 crossovers and V90 wagon. The V60 will launch with two engines, with a powerful hybrid coming sometime down the line. Since the last V60 hit the market, Audi, Buick and BMW have all released their own flavor of wagon. Like Volvo, BMW sells a traditional sedan-based model. Audi and Buick's wagons are both high-riding models with some very slight off-road pretense, much like Volvo's Cross Country models. We don't have details on the upcoming V60 Cross Country, but, even when accounting for ground clearance, the V60, BMW 3 Series Sport Wagon, A4 Allroad and Buick Regal TourX have a lot of overlap. Check out the specs breakdown below. Discover and compare other wagons and crossovers with our Car Finder and Compare tools. Engines, transmissions and drivetrains Out of the four wagons, the new V60 is the only one that offers two-wheel drive and a hybrid variant. The base V60 T5 uses a 250-horsepower turbocharged 2.0-liter inline four and sends power to the front wheels. Stepping up to the V60 T6 nets buyers an additional 66 horsepower thanks to a twincharged — supercharged and turbocharged — 2.0-liter and all-wheel drive. A T8 model that uses a 390-horsepower plug-in hybrid powertrain will be available soon. All V60s use an eight-speed automatic. The Audi, BMW and Buick are all powered by 2.0-liter turbocharged inline-fours. Additionally, the 3 Series has a 2.0-liter turbo diesel. All three wagons have standard all-wheel drive. The BMW and Buick use an eight-speed automatic, while the Audi sends power through a seven-speed dual-clutch transmission. As base engines go, there's a four-horsepower difference between the most and least powerful models, though the Buick wins out on torque. The V60 T6 matches the Regal TourX's torque figure and trounces every competitor's horsepower rating. The V60 T8 packs more power and torque than any of the competition. Cargo and interior space The outgoing V60 was on the small side for a wagon. This new model rectifies that a bit, though its 48.2 cubic-feet of cargo space with the second-row folded is still substantially smaller than the competition.