1973 Volkswagen Super Beetle Base 1.6l on 2040-cars

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Volkswagen taps Porsche chief for board

Matthias Mueller was promoted to the top position at Porsche in 2010 after a successful stint of developing model lines during his 36 years with the company, mainly at Audi. Having shown the same prowess while overseeing Porsche for the past five years, German outlet Frankfurter Allgemeine Zeitung reports that Mueller will be promoted to the management board of the Volkswagen Group, according to a leaked copy of an agenda for the meeting. It's said that a new spot is being created for him, one that will put him in charge of "overseeing cooperation" among Audi, Bentley, Bugatti, Lamborghini, and Porsche. While other group executives are known to hold positions on the board and with brands, or across brands, it isn't clear yet whether Mueller will keep his spot at the CEO of Porsche after the promotion. One thing that is certain is the 61-year-old Mueller doesn't see himself in line for Volkswagen Group CEO Martin Winterkorn's job in 2016, having told FAZ this month, "It's no solution to put a 63-year-old at the head of Volkswagen." News Source: Reuters, Automotive News - sub. req.Image Credit: Geoff Robins/AFP/Getty Images Hirings/Firings/Layoffs Porsche Volkswagen Performance volkswagen group matthias mueller promotion

$1.4B hedge fund suit against Porsche dismissed

Investors have canvassed courts in Europe and the US to repeatedly sue Porsche over its failed attempt to take over Volkswagen in 2008 (see here, and here and here), and they have repeatedly failed to win any cases. You can add another big loss to the tally, with Bloomberg reporting that the Stuttgart Regional Court has dismissed a 1.4-billion euro ($1.95B US) lawsuit, the decision explained by the court's assertion that the investors would have lost on their short bets even if Porsche hadn't misled them.
Examining the hedge funds' motives for stock purchases and the bets that VW share prices would fall, judge Carola Wittig said that the funds didn't base their decisions on the key bits of "misinformation," and instead were participating simply in "highly speculative and naked short selling," only to get caught out.
With other cases still pending, the continued streak of victories bodes well for Porsche's courtroom fortunes, since judges will expect new information to consider overturning precedent. If there is any new info, it could come from the potential criminal cases still outstanding against former CEO Wendelin Wiedeking and CFO Holger Härter, who were both indicted on charges of market manipulation.

VW brands excluded from Wards 10 Best Engines for 2016

You definitely won't be seeing a powerplant from Volkswagen or Audi on the 2016 Ward's 10 Best Engines list. In a serious rebuke against them, WardsAuto is excluding all VW/Audi powertrains for at least this year after the German automakers' ongoing emissions regulations evasions. There's no guarantee of the companies returning for 2017, either. In a story on its website, WardsAuto executive editor Tom Murphy writes that the ban lasts "until we are convinced the culture of deceit has been purged, fines have been paid and regulators are satisfied." That could be a while, the way things are looking. The exclusion knocks three powertrains out of the running for this year's list. As a winner last year, WardsAuto would usually test VW's 1.8-liter turbocharged four-cylinder again for 2016. Plus, it planned to check out the 2.0-liter turbocharged four-cylinder from the Audi A6 and the plug-in hybrid from the A3 Sportback E-Tron. In the story, Murphy finds VW's actions particularly despicable because of what they could be doing to the popularity of diesel passenger cars in this country. "BMW, Mercedes-Benz, General Motors, and Fiat Chrysler also sell light-duty diesel engines in the US, but their sales outlook suddenly has grown murky, thanks to VW's shenanigans," he writes. So far, Jaguar Land Rover is remaining confident of US consumers continuing to buy diesel models, though. We'll be able to see the real effects of VW and Audi's ban in a few months because the 2016 Ward's 10 Best Engines will be published December 10. With two major automakers out of the running, their rivals will likely greet this as a better chance to make the grade.