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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.

2020 Lamborghini Urus Road Test | How many bags of steer manure can it haul?

The question posed in the headline probably got your attention, as a headline should. You might also be wondering how many wet, muddy golden retrievers the 2020 Lamborghini Urus can carry home from a swim. Or how many seat-kicking Girl Scouts will drop their ice cream cones as you fling them around in your Urus on their way to a field trip. Or how many board-feet you can load while on a Lamborghini lumber run to Home Depot. And the answer to all of the above is: Beats me. If you think I tried any of that in a car with a $200,000 base price — $270,000 as tested — then youÂ’d be almost as nuts as me if I had. Most of those activities were probably specifically forbidden in the fine print of the 18-page loan agreement anyway. Yes, the Lamborghini Urus is an SUV. (ItÂ’s pronounced “Ooh-rous,” by the way.) No, it is not that kind of SUV, the kind that has “utility” as its middle name. Nobody who buys this is going to get it anywhere close to fertilizer, mud, ice cream or splinters. Nobody is cross-shopping the Urus against a Highlander or Explorer. It is, instead, an extreme expression of the quest for more power, more luxury, and the craze for crossovers. Auto brands, as they are wont to do, are building the high-riding vehicles that people want, which happen to be vastly profitable. Ne plus ultra brands such as Rolls-Royce, Bentley and Lamborghini are not immune to that lure, and so they are now offering SUVs with arch luxury, uber performance and the most hoity brand cachet. Just wait until the Ferrari Purosangue hits the streets. And sure enough, the SUV formula works for the high rollers, too. Lamborghini sold more than 8,200 vehicles worldwide last year, an annual increase of 43%. And thatÂ’s because 5,000 of them were the Urus. The window sticker says 70% of the carÂ’s content is from Germany — put another way, itÂ’s mostly an Audi. But the 30% that is Lamborghini is what makes its base price nearly three times the $68,200 base price of the mechanically related Audi Q8.  When the opportunity arose to drive a Urus for a weekend, I puzzled over what exactly to do with it. With more lowly SUVs or trucks in the press fleet, auto writers typically load and haul their families and stuff to see how well the utility vehicle in question does its job in everyday life. But thatÂ’s not possible with the Urus. You canÂ’t in good conscience get the thing dirty, or risk a scuff or scratch.

Florida Man accused of buying Lamborghini with coronavirus relief funds

We'll preface this by saying that when things work as they're meant to, we don't hear about them. When it comes to the Paycheck Protection Program, created as part of the CARES Act in March to provide loans to businesses to pay employees during the coronavirus lockdown, that means many jobs were saved but we also get stories of honest businesspeople unable to get loans or blackguards abusing the program. This story is the latter. David T. Hines, a 29-year-old Miami man with four businesses, applied for PPP funds in May. He received about $3.9 million in loans, and blew about $500,000 of that before the government began investigating and his bank froze his accounts. Instead of applying for loans to cover monthly expenditures of about $200,000 among his four moving-related companies, the feds say, Hines' four applications through Bank of America claimed combined monthly expenses of $4 million to pay 70 employees. BofA approved three of the four submissions. After the government made its first of three planned deposits of $3,984,557 into Hines' Bank of America account, Hines continued requesting more money, authorities say, ultimately seeking $13.54 million.  The spending began almost immediately after the PPP disbursement. As far as the government could tell by going through Hines' records, none of the money was spent on employees who "either did not exist or earned a fraction of what Hines claimed in his PPP applications.” Instead, officials say, Hines picked up a blue Lamborghini Huracan Evo for $318,497. He paid a person he listed as "Mom" $60,000. Saks Fifth Avenue got another $4,000. In June, $8,500 went to the Graff jewelry boutique, and $7,000 went to Miami's Setai hotel. The disbursement problem has arisen because the Small Business Administration that backs the PPP loans doesn't verify the claims in the applications, according to Assistant U.S. Attorney Michael Berger. How did Hines get caught, then? He got into a hit-and-run accident in his blue Lamborghini in July, and Miami police impounded the car. That eventually attracted investigation from no less than six governmental departments: the FDIC-OIG, USPIS, IRS-CI, the SBA-OIG, the Board of Governors of the Federal Reserve System, and the Bureau of Consumer Financial Protection-OIG. The U.S.