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Volkswagen hatches hotter GTI in Geneva

The all-new seventh-generation Volkswagen Golf hasn't even launched here in the United States, but over in Geneva, we're already getting our first glimpse at the hotter GTI hatchback. The fancy new Mk VII Golf is already off to a healthy start with positive reviews in Europe, and we have no doubt that this next GTI will work hard to regain its title as king of the hot hatches.
The big news for this generation of GTI is that for the first time ever, Volkswagen is actually offering two different power grades for the model, both relying on the 2.0-liter turbocharged inline-four. Standard cars pack 220 horsepower and 258 pound-feet of torque, but an optional performance pack ups the horsepower number to 230. Hitting 60 miles per hour takes 6.5 seconds (6.4 with the performance pack) and top speed is quoted at 153 mph (or 155 with the performance kit). Volkswagen will continue to offer the GTI with both six-speed manual and dual-clutch transmissions.
On the visual front, the sub-3,000-pound GTI adds the usual bit of hot hatch aggression over the standard Golf, and those changes carry over to the interior with a flat-bottomed wheel and, of course, plaid seats. She's certainly a looker, and while some of us do find the new Golf's design to be a bit staid and evolutionary, the enhancements for the GTI indeed tug on our enthusiast heart strings.

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.

2013 Volkswagen GTI Driver's Edition brings exclusivity to the granddaddy of hot hatches

The Volkswagen booth at this year's Chicago Auto Show was filled with various special edition models of the Beetle and GTI. In addition to the GTI Wolfsburg Edition, the Volkswagen GTI Driver's Edition helps to wrap up the 2013 model year as VW readies the all-new MkVII Golf next year.
Only 3,000 of the GTI Driver's Edition models will be produced in four-door body style only, and the available color palette will be limited to just Candy White, Carbon Steel Gray and Deep Black. The package will come standard with the GTI's Sunroof and Navigation package, and it will add unique features such as the 18-inch "Laguna" wheels, a golf-ball shift knob, partial leather seats and red-stitching on the carpeted floor mats. Buyers of this package will also get a certificate of authenticity and some GTI swag such as a hat, keychain and parking sign.
Starting price for the 2013 Volkswagen GTI Driver's Edition is $29,695 with the six-speed manual and $30,795 if you choose the DSG - both prices exclude destination charges.