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If VW defaults on loans it may sell Bentley or Lamborghini

If something goes catastrophically wrong with Volkswagen Group's recent $21 billion loan, brands like Bentley or Lamborghini could hit the auction block. According to two insiders to Reuters, the beleaguered German automaker agrees with its creditors to sell assets if the company somehow can't pay back the debt in a year. One of these anonymous people claimed the company hasn't yet deliberated over what to sell. However, the sources were willing to speculate that the power engineering portion of Man could be among the first to go. "Volkswagen may also consider divesting luxury car brands Bentley and Lamborghini or motor bike brand Ducati, although these units don't really move the needle," an insider said to Reuters. VW Group negotiated with the banks earlier this week to get the massive loan. The cash is necessary as a buffer in case the automaker doesn't have enough money on hand to repair vehicles or settle upcoming fines. VW would reportedly issue bonds in the spring to begin paying the debt. The company's bills will start racking up quickly in the new year. German authorities mandate a recall there in early 2016, and repair campaigns in the US for the 2.0- and 3.0-liter diesel engines are inevitable. There are also hundreds of class-action lawsuits to settle. The company needs to resolve its CO2 emissions scandal in Europe, too. In response to these financial threats, VW management created a cost-cutting plan to slash the research and development budget by $1.1 billion next year.

New Civic, FCA UAW Agreement, Frankfurt | Autoblog Minute

FCA reaches a tentative agreement with the UAW, Honda reveals the all new 2016 Civic, and the Frankfurt Motor Show dazzles us again.Senior editor Greg Migliore reports in the Weekly Recap edition of Autoblog Minute Weekly. UAW/Unions Bentley Honda Jaguar Porsche Tesla Autoblog Minute Videos Original Video FCA porsche mission e civic

Bentley preps 'Centennary Specification' for all models built in 2019

For the entirety of Bentley's 100th year in business, the English carmaker will adorn its products with a Centenary Specification. The package consists of unique badging with specially developed Centenary Gold badge highlights, available Centenary Gold thread for the headrest logos, contrast stitching and cross stitching, and a "centenary welcome light" outside the vehicle. The in-house craftsmen have also developed unique embroidery. Bentley says the gold hue was inspired by metalwork on vintage models like the 1919 EXP 2 (pictured, red and silver) and 1929 Birkin Blower (pictured, green), the latter one of the company's Le Mans winners driven by Sir Henry "Tim" Birkin. The hue possesses an "elegant warm tone and a deep fluid shadow." The steering wheel badge, key fob, shift knob, and wheel center caps feature the tinted ring. The "B" badge on the radiator surround also features "1919-2019" script, and that script is found on the tread plates, too. For those who don't know, eponymous founder Walter Owen Bentley's engineering career began with locomotives — which he loved more than cars at one point — and motorcycles, before settling on automobiles. He bought his first car in 1910, a French DFP, and after improving it himself, set a 10-lap record at the Brooklands circuit. In 1912 he opened a DFP franchise with his brother Horace Milner as Bentley & Bentley, and further upgraded the car with a new piston design that was 88 percent aluminum and 12 percent copper. The Royal Naval Air Service adopted Bentley's piston design and Bentley's re-designed Clerget airplane engines, dubbed the Bentley Rotary. After the war, Bentley refocused on cars, and in 1919 released the 3-Litre, which boasted features like a cross-flow head, overhead cams working four valves per cylinder, and twin plugs in each cylinder. The company delivered the first production model in 1921, then went racing and won the second edition of Le Mans in 1924. That is how Bentley began to become "Bentley, ahem ...", and here we are. Next year, on July 10, the company plans to celebrate the feat appropriately. Related Video: