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Autoweek dubs GMC Canyon, VW GTI its 2015 'Best of the Best'

For kids around the globe, tis the season for Santa, reindeer and presents. For the automotive industry, the last quarter of each year is reserved for awards, whether they come from Motor Trend, Car and Driver, Automobile, or yes, Autoblog. The latest to get released comes from our friends at Autoweek. The magazine has echoed other outlets, naming a Volkswagen hatchback and a small pickup from General Motors as its Best of the Best. Unlike Motor Trend, which handed out its golden calipers to the Chevrolet Colorado and Volkswagen Golf range, Autoweek doled out its awards to the Colorado's twin, the GMC Canyon, while singling out the hottest version of the Golf, the GTI. "This is the best hot-hatch on the American market – and it may be the best car you can buy for less than $30K," one AW staffer said in the publication's article on the feature. Other staffers praised the absolute value provided by the GTI and the overall fun factor. The Canyon, meanwhile, was saluted for being "the perfect size," not to mention its excellent build quality, feature-rich cabin and overall practicality. "It's truly a truck in the most honest sense of the word," Autoweek wrote of the Canyon. Scroll down for the full press release on the announcement from Autoweek, which includes comments from both Volkswagen and GMC. And then head over and read AW's full feature on the awards. Autoweek names Best of the Best/Car and Truck for 2015 Volkswagen Golf GTI and GMC Canyon signal a strong year for design, performance and value DETROIT, Dec. 16, 2014 /PRNewswire/ -- Today, Autoweek named the Volkswagen Golf GTI as its Best of the Best/Car for 2015, beating a group of finalists that includes the Alfa Romeo 4C, Ford Mustang and Mercedes-Benz C-class; and the GMC Canyon as its Best of the Best/Truck for 2015, besting the likes of the Chevrolet Colorado, Lincoln MKC and Porsche Macan. Autoweek evaluates every new or significantly updated model throughout the year and begins to identify the standouts. Performance, economy, fit and finish, design, value, significance to the auto industry and personal taste all combine to define the Best of the Best. Four cars and four trucks make the grade, and Autoweek editors put them through rigorous road-handling tests at Michigan International Speedway in Brooklyn, Mich. This is where a vehicle transcends the numbers and shows if design, performance and pure driving passion meld into an Autoweek Best of the Best pick.

Jaguar Land Rover seeks to block U.S. imports of Porsche, Audi, Lamborghini, VW SUVs

You wouldn’t know it was about Jags and Lambos, to judge by its rather dry name: In the Matter of Certain Vehicle Control Systems. But thatÂ’s the complaint Jaguar Land Rover Automotive Plc filed on Thursday to block U.S. imports of Porsche, Lamborghini, Audi and Volkswagen sport utility vehicles it says are using its patented Terrain Response technology without permission. Jaguar Land Rover, a British carmaker owned by IndiaÂ’s Tata Motors Ltd., said in its filing with the U.S. International Trade Commission that the technology helps negotiate a “broad range of surfaces” and is a key feature in JaguarÂ’s F-Pace and Land Rover Discovery vehicles. “JLR seeks to protect itself and its United States operations from companies that have injected infringing products into the U.S. market that incorporate, without any license from JLR, technology developed by JLR and protected by its patent,” JaguarÂ’s lawyer, Matthew Moore, said in the filing. Representatives of Volkswagen didnÂ’t immediately respond to emails seeking comment on the complaint. Jaguar wants to block imports of PorscheÂ’s Cayenne; LamborghiniÂ’s Urus; AudiÂ’s Q8, Q7, Q5, A6 Allroad and e-tron vehicles; and VWÂ’s Tiguan vehicles. It said there are plenty of other luxury midsize SUV and compact crossover vehicles to meet consumer demand if the SUVs are banned from the U.S. Still, the premium Porsche and Audi lines provide much of the profit VW is using to fund its investments in technology for electric vehicles, autonomous vehicles and further innovations. In addition to the four brands, Volkswagen Group owns other upscale nameplates, including Bentley and Bugatti. The International Trade Commission is an independent, quasi-judicial agency that investigates complaints of unfair trade practices, like patent infringement. It canÂ’t award damages but does have the power to block products from entering the U.S. Owners of patents and trade secrets like it because it can work faster than the federal district courts -- the typical investigation is completed in 15 to 18 months. But Jaguar also filed patent lawsuits against the companies in federal courts in Delaware and New Jersey, seeking cash compensation for the use of the technology. Those cases are likely to be put on hold once the trade commission launches its investigation. The case is In the Matter of Certain Vehicle Control Systems, 337-3508, U.S. International Trade Commission (Washington).

Porsche board members facing another ˆ1.8B lawsuit over VW takeover bid

Back in 2008, Porsche got the bright idea that it could take over Volkswagen in the midst of the worst economic slump since the Great Depression. Ignoring that this was a catastrophic move for the Stuttgart sports car manufacturer that that eventually resulted in it nearly going bankrupt and eventually being taken over by the same company it sought to control, the aftermath has left Porsche Chairman Wolfgang Porsche and board member Ferdinand Piëch in the crosshairs of seven hedge funds that lost out during the takeover and are now seeking €1.8 billion - $2.43 billion US - in damages from the two execs, according to the BBC.
See, investors bet on Volkswagen's share price going down, partially because Porsche said it wasn't going to attempt a takeover. But Porsche was attempting to take over VW, having bought up nearly 75-percent of VW's publicly traded shares. When word broke that Porsche owned nearly three-quarters of VW (which indicated an imminent takeover attempt), rather than go down like the hedge funds bet it would, VW's share price skyrocketed to over 1,000 euros per share, according to Reuters.
Naturally, when you bet that a company's share price is going to drop and it in turn (temporarily) becomes the world's most valuable company, you lose a lot of money, unless you're able to buy up shares before prices jump too much. This led to a squeeze on the stock, which the hedge funds accuse Porsche and Piëch (who are both members of the Porsche family and supervisory board) of organizing.