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Former Porsche CEO Wiedeking indicted over VW takeover bid

Do you recall the failed efforts by Porsche to take over Volkswagen? According to a Bloomberg report, former Porsche CEO Wendelin Wiedeking (above) and ex-CFO Holger Haerter have finally been charged with market manipulation over the exercising of options as part of the German sportscar manufacturer's ill-fated attempt to take over the much larger VW. That failed bid eventually resulted in the reverse coming true - VW swallowing Porsche.
The charges leveled by Stuttgart prosecutors come after a three-year investigation centered around allegations that Porsche execs made a concerted effort to increase the company's share in VW to 75 percent in preparation for a hostile takeover. Porsche had previously told its investors on at least five occasions that it had no intention to buy VW.
Portions of the investigation have subsided, according to prosecutors, citing an inability to prove certain improprieties with a "necessary degree of certainty." The number of charges is down to 5 from a previous 14 counts regarding "information-based market manipulation."

VW outsells GM in China for first time in 8 years

In case you didn't know, Volkswagen is hell-bent on becoming the largest automaker in the world. The German carmaker has inched closer to that goal, having outsold General Motors in China last quarter for the first time in eight years.
Volkswagen's sales in China, its largest marker, increased by 21 percent last quarter to 704,991 units. Those numbers almost tripled GM's third-quarter growth, and were enough to beat out the American automaker's 664,765 sales. GM, however, still leads in year-to-date sales in China by a slim margin of around 77,000 units. The Asian nation also happens to be GM's largest market, and according to the report in Automotive News, China's car market may grow to be larger than the US, Japan and Germany combined in three years' time.
About the news his company was bested in China by VW last quarter, GM CEO Dan Akerson is quoted saying, "It's not whether you're the biggest car manufacturer. It's whether you want to be the most profitable." It should be noted of these figures that GM includes truck figures, yet excludes Hong Kong and Macau from its Chinese sales numbers, while VW does just the opposite. Through September of this year, Volkswagen had 5 of the 10 best selling vehicles in China. GM boasted three of the cars on that list.

Volkswagen's De Silva says next Scirocco will be 'completely different'

From our perspective, the reborn Volkswagen Scirocco is a handsome (if squat) little thing. Yet design-wise, it's always struck us as uncomfortably close to the Golf three-door hatchback with which it shares its basic underpinnings. That aesthetic kinship may be part of the reason why Volkswagen has steadfastly refused to import the Scirocco to North America, seeing as how the Golf doesn't regularly set the company's sales charts alight, and it's less expensive.
But that visual similarity might be about to change, says Walter De Silva, who recently told Australia's Car Advice that, "It must be completely different... we don't want to repeat the bodystyle of the Scirocco, we want to change that." Further, the Volkswagen Group's design boss says that the next-generation car isn't terribly far along in development yet - "at the moment, it's only a studio [project]... it's not defined." It's probably just as well, as the new seventh-generation Golf arguably borrows some of its design from the current Scirocco anyway.
So we should expect a much bolder, more differentiated design, right? Well, yes, no and maybe. Back in September, De Silva himself was quoted as saying that the era of flamboyant styling has passed, and that future VW designs will be simpler to better reflect the times and preserve resale value. So... how different could it be?