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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.

Bentley Bentayga V8 specs and pics revealed: It's the sporty one

The glitzy, opulent Bentley Bentayga has so far only been available with a twin-turbocharged W12 in the United States, but that's going to change now that the company has unveiled the V8 version. The Bentayga V8 uses a twin-turbocharged 4.0-liter V8 that, despite having two liters less displacement and four fewer cylinders, still makes a healthy 542 horsepower and 568 pound-feet of torque. Those numbers are only official for Europe, though, as numbers for the United States are being finalized. It's not a whole lot slower than the W12, either, with a 0-60 mph time of 4.4 seconds and a top speed of 180 mph. The W12 hits 60 in 4.1 seconds and has a top speed of 187 mph. What is a bit odd is that Bentley is marketing this V8 model as the "sporty" one, despite not being as fast as the W12. In support of the sporty identity, Bentley has endowed the V8 Bentayga with more aggressive looks inside and out with a black grille and unique dual exhaust tips, as well as an optional carbon fiber trim for the interior. To back up the looks, the Bentley Bentayga V8 also has the option of carbon-ceramic brakes. And they're truly massive with 17.3-inch rotors at the front, and 14.6-inch units in the rear. The front rotors are clamped by 10-piston calipers, too. Bentley claims the front brakes are the largest in the world. The V8 Bentayga also can claim a roughly 100-pound weight advantage compared with the W12, though whether you'll notice that in an SUV that weighs over 5,000 pounds is debatable. Pricing and availability haven't been announced for the Bentayga V8 yet. We would expect it to arrive at dealers by the end of the year. It will also likely cost less than the W12 model. Related Video: Featured Gallery 2019 Bentley Bentayga V8 View 10 Photos Image Credit: Bentley Bentley Crossover SUV Luxury bentley bentayga

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.