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Volkswagen Group names Paefgen head of classics program

You may remember the name Franz-Josef Paefgen. Until recently, the German engineer and executive was head of both Bentley and Bugatti. Before that he was chief executive of Audi, after working for several years at Ford. He technically "retired" earlier this year, but like the cars he helped create, an executive like Paefgen could never really retire. So it should come as little surprise that the Volkswagen Group has named Dr. Paefgen head of its Classic program.
In his new capacity, Paefgen will oversee the historic automobile activities of the entire VW Group, including those of Volkswagen, Seat, Skoda, Audi, Lamborghini, and of course Bentley and Bugatti. It strikes us as a suitable semi-retirement for the man responsible in no small part for the Bugatti Veyron and Bentley Mulsanne, to name just two, and who was decorated in 2006 by the ACO as the "Spirit of Le Mans" for his contribution to endurance racing. Read the official announcement after the break.

VW has received several tentative bids for Ducati

Italy's Benetton family is vying with motorbike firms and buyout funds for control of Italian motorcycle brand Ducati, which is being sold by Germany's Volkswagen, sources involved in the process told Reuters. Volkswagen, whose Audi division controls Ducati, has received several tentative bids with the Benetton family's investment vehicle Edizione Holding valuing the Monster motorbike maker at $1.2 billion, one of the sources said. As well as Edizione Holding, U.S. buyout fund Bain Capital, which owns a stake in Ski-Doo snowmobiles maker BRB, and two Indian motorbike firms, Eicher Motors and Bajaj Auto, have also bid for Ducati, the sources said. Indian carmaker Eicher controls Royal Enfield, a motorcycle brand established in 1893 which ranks as one of the oldest. Strategic bidders also include U.S. automotive firm Polaris Industries, which earlier this year said it would wind down its struggling Victory Motorcycle brand. A shortlist of bidders for a second stage of the auction could be selected as soon as Saturday, two of the sources said. Volkswagen adviser Evercore has a long list of bidders including private equity funds such as Ducati's previous owner Investindustrial, CVC Capital Partners, Advent and PAI, all hoping to outbid industry players, the sources said. If it gets to the second round, Edizione Holding could seek to form a consortium with a financial investor, two of the sources said, in a bid to secure control of Ducati, whose racers have won the Superbike world championship 14 times, with Carl Fogarty and Troy Bayliss its most successful riders. Audi, Edizione Holding, Investindustrial, Advent and PAI declined to comment, while the other interested groups were not immediately available for comment. PRICING CHALLENGES For some buyout funds, Ducati's valuation of up to $1.4 billion – which sources said is based on a multiple of more than 10 times its core earnings of roughly 100 million euros – is a tall order as they lack the synergies that some motorbike makers could achieve. But Investindustrial founder Andrea Bonomi, who sold Ducati to Audi for about 860 million euros in 2012, is serious about a comeback, one of the sources said. China's Loncin Motor was among a group of industry players that initially showed interest in Ducati, alongside Harley-Davidson. The latter has, however, decided against making a bid due to Ducati's price tag, while it could not be established if Loncin Motor had carried on bidding.

Lamborghini Aventador LP 720-4 50 Anniversario is one helluva birthday present

While most 50th birthday parties include wacky and at least somewhat offensive gag gifts, Lamborghini will be celebrating its first 50 years with some incredibly exciting machines. Aside from the Veneno, the Italian automaker will also commemorate its first half century with new versions of the Aventador and Gallardo, which will both be on display at the Shanghai Motor Show.
The special Gallardo LP 560-2 50 Anniversario is a Gallardo with a unique paint scheme, a transparent engine cover and a few carbon fiber parts from the Superleggera, but the Aventador LP 720-4 50 Anniversario is where you'll find the true party favor. Confirming what leaked out earlier in the week, the Aventador LP 720-4 50 Anniversario squeezes an extra 20 horsepower from its 6.5-liter V12 compared to the "base" Aventador LP 700-4, which is accomplished with different engine tuning.
If the Aventador wasn't already flashy enough for you, the 50 Anniversario gets painted up in a two-tone paint job with a bright yellow Giallo Maggio exterior color over matte black for the lower portions of the car, along with gloss-black wheels. Lamborghini chose yellow because it has been the most popular color for its cars since the Miura. As for unique styling elements, the Aventador LP 720-4 50 Anniversario gets a revised front end with an extended splitter and bigger air intakes, and the rear fascia has been completely redesigned for better aerodynamics and engine ventilation.