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VW admits 430,000 2016 models have implausible CO2 ratings

Volkswagen finally explained more details about its CO2 rating scandal in Europe and admitted that 430,046 of the estimated 800,000 affected vehicles with "implausible" figures came from the 2016 model year. They included some from Audi, Seat, Skoda, VW, and VW Commercial Vehicles, according to the automaker's list (as a PDF). The problem mostly impacts diesel engines, but the inventory also shows some gasoline mills. VW will next determine the accurate CO2 emissions for these vehicles, and the German Federal Vehicle and Transport Authority will supervise that process to ensure the data's veracity. The automaker will also launch websites in Europe to let owners enter their model's VIN to check whether it's affected. Because governments there often link vehicle taxes and CO2 production, the company promises to work with regulators in each country to cover any fees that result from the inaccurate figures. VW announced the CO2 scandal earlier in November and estimated the equivalent of $2.2 billion to fix it at the time. A later report claimed that a group of engineers were responsible for fabricating the emissions data. They allegedly couldn't meet reduction goals from Martin Winterkorn, and between 2013 and this spring the workers did things like overinflate the tires during testing to achieve the desired results. VW is also closer to a fix in the diesel emissions scandal. According to an anonymous insider to Bloomberg, the company has a repair for the 1.6-liter engine that's reportedly neither very complex nor expensive. German regulators would still need to approve the solution before it could roll out to owners. Next step in clarifying the CO2 issue Affected Volkswagen Group models of the current model year have been identified Customers being informed via website Discussions with the authorities have begun The Volkswagen Group reports that the vehicles of the 2016 model year affected by the CO2 issue have been identified. There is thus now clarity about the new vehicles of the current model year out in the marketplace. On 3 November 2015, the Group had already reported that irregularities may have arisen in determining the CO2 figures for type approval of around 800,000 vehicles. This was identified during its own currently ongoing investigations and had been made public. The internal investigations into the current vehicles of the 2016 model year provide results for narrowing down the actually affected vehicles with implausible CO2 figures.

VW reveals Outback-rivaling Golf Alltrack ahead of Paris

The Volkswagen Passat Alltrack is getting a baby brother at this year's 2014 Paris Motor Show in the form of a new Golf Alltrack. Like its larger sibling, the little wagon is supposed to offer light-duty off-road driving ability combined with a more rugged look to show it off.
To give the Golf Alltrack that soft-road ability, VW is outfitting the wagon with its latest 4Motion all-wheel drive system from Haldex. The setup can decouple power from the rear-axle when not needed to save fuel. To further improve traction, the Alltrack gets VW's electronic differential lock, and the car can individually brake its inside wheel during hard cornering for better handling.
Volkswagen also wants the Alltrack to be able to visually show that it can handle getting away from the pavement, even though it starts life as a standard Golf wagon. That means jacking up the suspension an extra 0.75 inches and adding black moldings all the way around the car. There are also redesigned bumpers for the front and rear and silver underbody protection, plus new accents like anodized roof rails and silver mirror caps. The interior is essentially unchanged from the wagon, except for altered trim and Alltrack badges.

EU formally questions French government assistance of Peugeot's finance arm

Recently, the finance arm of PSA/Peugeot-Citroën was in such debt trouble that it was pricing itself out of the car loan market. The rates it was paying to service its debt, which was rated one step above junk, were so high that it was forced to charge car-buying customers higher rates than they could find elsewhere. This was adding to Peugeot's already impressive woes by sending revenue out the door to competitors.
Two months ago a deal was worked out with the French government whereby the state would provide 7 billion euro ($9 billion USD) in bonds to guarantee the finance arm's loans. The French government could nominate someone to join the Peugeot board, Peugeot would guarantee more French jobs, and on top of that deal, other banks would provide non-guaranteed loans. The government would take no equity stake in the car company.
Although not yet finalized, the arrangement is meant to create some breathing room for Peugeot Finance to lower its interest rates for customers, and a government-nominated board member, Louis Gallois, was recently named to Peugeot's supervisory board. The arrangement was also openly questioned by at least three competitors: Ford, Renault - which is 15-percent owned by the French government after it received state aid - and the German state of Lower Saxony, itself a 15-percent shareholder in Volkswagen.