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VW stock plummets as Euro markets open

The fallout from Volkswagen's installation of an emissions "defeat device" on nearly 500,000 diesel-fueled models in the US is already hitting the automaker hard on the German stock exchange. At one point, the share price plummeted 23 percent to erase the equivalent of $17.6 billion in value. Things eventually bounced back slightly to a still severe 19.23 percent loss, according to Bloomberg as of this writing. The scandal couldn't come at a worse time for chairman Martin Winterkorn. The VW supervisory board takes up the issue of renewing his contract on September 25, Bloomberg reports. If things get bad enough, the door could be open for a new boss to step in. Dealers in the US might start feeling the pain from this, as well. Affected 2015 VWs that are still at showrooms are now under a stop sale. Until the issue is straightened out, the Environmental Protection Agency isn't certifying the company's 2016 diesel models with the 2.0 TDI, either. The diesel emissions problem was first discovered by research from West Virginia University and the International Council on Clean Transportation. In some cases, the engines can produce 40 times more nitrogen oxides than allowed. The automaker could be on the hook for $18 billion in fines for the breach, but the actual figure is expected to be lower. In response, Winterkorn has issued a public apology and ordered an independent investigation into what happened. The EPA and California Air Resources Board have also been looking into the situation. This could become an international problem, though. According to The Detroit News, European authorities might begin similar inquires to check the automaker's diesel emissions there.

Volkswagen New Midsize Coupe Concept is an aspirational Jetta

Meet the Volkswagen baby CC. Okay, that's not really it's name (VW calls it the New Midsize Coupe Concept), but this sleek, four-door coupe draws more than a little inspiration from the CC while riding on VW's MQB platform.
It's a looker, we think, and is an eye-pleasing departure from the bland styling of the current Jetta. The sleeker front end is complemented by a wider body overall (it's wider than a Passat), while the more sporting roofline and the sharp rear fascia gives the New Midsize Coupe a decidedly sporting character. LED head- and taillights add a bit more personality to this already stylish design.
Thanks to its 2.0-liter, turbocharged four-cylinder, it should get along rather sportingly, as well. The run to 62 miles per hour takes just 6.5 seconds thanks to the 217 horsepower on offer. A seven-speed dual-clutch automatic is also fitted, and contributes to an estimated 37 miles per gallon.

Volkswagen Cross Coupe GTE is a sleek take on brand's future CUV

Volkswagen continues its long tease leading up to an eventual US-built, seven-passenger, three-row crossover with the Cross Coupe GTE at the 2015 Detroit Auto Show. While it's still affixed with the tinsel of a concept car, there are a lot of details that will arrive on VW's eventual production crossover. The wheelbase of the GTE is said to be identical to the production model, although this five-passenger CUV is actually about a foot shorter overall, Volkswagen's chief of design, Klaus Bischoff, told Autoblog. The overall shape of the GTE's greenhouse, meanwhile, will also be very similar to the car that'll come to market, although more progressive from the C-pillar forward (that's right kids, that sexy sloping rear end isn't for production). Despite the aggressive rake, a peek in the GTE's trunk revealed room for the CUV's third row. Beyond hinting at a new addition to the company's lineup, the GTE also gives us a look at future Volkswagen design, including the use of four-element LED running lamps. Body lines will be as sharp as is feasible. Look for the production version of Volkswagen's seven-passenger SUV at the end of next year. Until then, check out the two-row concept, courtesy of our live images from the 2015 Detroit Auto Show.