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TRANSLOGIC 150: Volkswagen XL1
Mon, Feb 24 2014How do you build the world's most fuel-efficient production car? Start with the world's most aerodynamic design. The Volkswagen XL1 is capable of 261 miles per gallon thanks to its sleek shape and ultra efficient plug-in diesel hybrid powertrain. The downside is that only 250 will be made and none will be sold stateside. That didn't stop us from taking our turn behind the wheel of this truly revolutionary ride.
VW pondering low-cost sub-brand for China?
Wed, 30 Jan 2013More detail is being sketched into the Volkswagen Group's plan to launch a low-cost brand for emerging markets. Late last year a German report quoted a VW rep saying that the brand has been interested in building a no-frills car, the kind that would challenge Dacia and Datsun, for a while. With both Proton and Suzuki effectively out of the partnership picture, a report in Reuters suggests VW could go straight to China, developing a car with its joint venture partners and building and selling it there.
Officially, company CEO Martin Winterkorn said the issue of a model for emerging markets would be decided this year but VW isn't any closer to confirming any kind of plan for a car in its portfolio underneath the Up!, remarking to Reuters about the China possibility, "That's an issue we're currently looking at."
If VW defaults on loans it may sell Bentley or Lamborghini
Mon, Dec 7 2015If 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.