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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.

Volkswagen Routan dead, pour out a sippy cup for your little homies

America's minivan wolfpack has just gotten smaller by one. According to Automotive News, Volkswagen officials have confirmed what we've suspected for some time - the Routan is dead. Essentially a lightly reworked version of the Dodge Grand Caravan, the Routan actually hasn't been rolling off of Chrysler's Windsor, Ontario production line at all this year, but VW had yet to confirm its discontinuation. However, Jonathan Browning, CEO of VW America, has reportedly admitted that the Routan is being axed, with remaining units expected to be funneled into corporate functions for "internal purposes."
The move isn't unexpected - the Routan has never been a big seller, with just 57,650 examples moved since sales began in 2008 - peak yearly sales totaled under 16,000 units, and that was back in 2010. And while many have talked of the minivan segment shrinking, Automotive News points out that the segment actually grew 14 percent last year to 597,118 units, though it should be noted that most segments have been on sales upticks as the US economy chugs out of its recession.
So, is volume-crazy Volkswagen prepared to pass on large family vehicle sales? Probably not - the German automaker has signaled that it plans to build a three-row crossover in North America soon, and we wouldn't be surprised if it looks an awful lot like the Crossblue Concept from January's Detroit Auto Show - minus the fancy plug-in diesel powertrain.

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.