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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

New Audi Q5 refines original model's winning formula

The first Audi Q5 made a name for itself as a baby Q7, hitting a Goldilocks zone in the crossover segment and challenging BMW, Mercedes-Benz, and Lexus for supremacy in what would become one of the luxury market's most important segments. The Q5 is already Audi's best-selling vehicle globally, underscoring its importance to the German brand. Like its predecessor, the second-generation Q5 takes the Q7's looks and tech, then distills it into a smaller package. But unlike the Q7, the Q5 doesn't look quite so dowdy in its redesigned body. We'll attribute that to the smaller front and rear overhangs, which keep the Q5 looking like a crossover instead of a high-riding wagon. The face is mostly a carbon copy of the Q7's, with a prominent grille featuring a silver surround and flanked by a set of clean, stylish headlights. In back, the smaller Audi gets more expressive taillights that harken back to the first-generation model in their lighting signature. We aren't really sure what Audi was going for with its two-tier rear bumper, but it doesn't work and is inarguably the worst piece of an otherwise fashionable design. Aside from restyling the Q5's body, Audi managed to both expand it in every direction and trim nearly 200 pounds of body fat through a mix of "maximum tensile strength" steel and aluminum. Audi is also promising an impressive aerodynamics gain for the new body – the company's engineers slashed the coefficient of drag from 0.33 to 0.30. That should mean a quieter and more efficient drive. Like the Q7, the new Q5 benefits from Audi's push into advanced driver information systems. It gets the 12.3-inch TFT display, also known as Virtual Cockpit, on top of the 8.3-inch MMI display atop the center stack. MMI takes a page from Apple with its Personal Route Assist. Much as CarPlay will automatically display how long it takes you to get home, Audi's new system can study an owner's behavior and suggest the best route to a given spot, even when the navigation isn't active. While we're geeked about the new tech, the powertrain front is less newsy. The European press release lists one gas engine – a 252-horsepower 2.0-liter, turbocharged four-cylinder – and four TDI powertrains. Those latter engines are dead to the US, as Audi faces the backlash from parent company Volkswagen's diesel emissions scandal.

Is Audi getting complacent and suffering from brain drain?

The argument is made in a Reuters article: Audi is falling behind other luxury brands, such as Mercedes-Benz and BMW, due to a lack of research-and-development spending and "brain drain," or the migration of top executives and R&D chiefs to other parts of the Volkswagen Group. Reuters notes that Audi's current R&D chief is the third in 16 months.
Audi, which contributed to 40 percent of VW Group's $11.6 billion in profit the first nine months of the year, is delivering cars at a record pace: 1.31 million were delivered from January to October 2013 versus BMW's 1.35 million. Yet Audi, Reuters reports, doesn't have a halo car akin to BMW's new electrified i3 and i8 or an answer to Mercedes' plug-in-hybrid S-Class, and the R&D spending at Audi is less than BMW and Mercedes by a fair margin. It's noted in the article, however, that Audi benefits from other R&D spending within VW Group.
Reuters mentions that BMW "trumpets its new 'i' series" and the new Mercedes CLA and GLA ranges are winning "rave reviews" as part of its argument that Audi's recent lack of technological innovation could hurt future sales. Those cars do pack tons of new technology, some of which are firsts for mainstream production cars. But last time we checked, the i3 could be causing BMW's stock to slide, the CLA isn't receiving the rave reviews that Reuters would have you believe and the GLA hasn't been reviewed yet.