2013 Audi A5 Prestige on 2040-cars

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VW execs didn't think diesel problem would be so serious

Volkswagen Group has admitted that former chairman Martin Winterkorn received two memos about the diesel scandal in 2014. Top execs ignored the problem because they didn't think it was a serious issue. VW disclosed these details to counter allegations in a German shareholder lawsuit that alleged the automaker violated the law by withholding the info from investors. A memo on May 23, 2014 first advised Winterkorn about emissions cheating. A memo on May 23, 2014, first advised Winterkorn about the study from the International Council on Clean Transportation, which identified the emissions cheating. According to VW, the document was part of the exec's weekend mail, and the company's investigation didn't discover whether Winterkorn actually read it. A rumor last month alleged this memo existed. Another memo for Winterkorn on November 14, 2014 was about several defects, including the diesel engines. The document estimated it would cost 20 million euros ($22 million US at current rates) to fix the problem. The chairman learned about the issue again on July 27, 2015, during a meeting on product issues. "Mr. Winterkorn asked for further clarification of the issue," according to VW's statement. Things got serious at the end of August 2015. Things got serious at the end of August 2015 when technicians explained the diesel issue to the legal department. VW came clean to the California Air Resources Board and the Environmental Protection Agency on September 3. A memo told Winterkorn the next day, which was also previously alleged. According to this investigation, management didn't believe the diesel problem would affect the stock price, and they estimated the cheating might cost at most a few hundred million dollars in fines. The execs were clearly wrong. The share price dropped after the scandal broke last September, and the problems have started to affect its divisions. According to Reuters, Audi reported it suffered 228 million euros ($249 million) in costs in 2015 from the emissions issue and repairing Takata's faulty airbag inflators. Volkswagen still doesn't know the exact costs of the scandal, but the automaker's law firm, Jones Day, plans to release a report in the second half of April to explain the whole affair. By that time, we might also know how VW plans to fix the problem because a judge recently gave the company until March 24 to outline a fix for the 2.0-liter TDI. CARB started evaluating a repair plan for the 3.0-liter TDI in early February.

Notes and notations on the 2014 Rolex 24 at Daytona [w/video]

This year is the 52nd edition of the Daytona 24 Hours. The 2014 Rolex 24 at Daytona is also the first race of the year in the brand new TUDOR United SportsCar Championship (TUSCC) With the merger of the American Le Mans Series and Grand-Am Rolex Sports Car Series rewriting and revising the rules of American sports car racing right up until yesterday, we've made the journey to an intermittently wet and constantly freezing Daytona Beach, Florida with Audi to watch the new R8 LMS and every other competitor explore the limits of those rules on the track.
With a ton to cover - and a couple of videos below to watch, including some slo-mo qualifying footage and a hot lap in an R8 LMS - let's not waste time with chit-chat, eh?
Quick things to know about the classes and the leader-light system:

Junkyard Gem: Fully depreciated 2001 Audi A8 L 4.2 Quattro

A great big A8 with a long wheelbase and all-wheel-drive is just the thing for a serious player with an oligarch-grade bankroll and the need to get to important corporate meetings during the worst Colorado snowstorms, and we're betting that's how this 15-year-old A8 L's original owner saw it. The problem with cars like this is that big, complicated, expensive machinery tends to develop big, complicated, expensive problems once the aging process sets in, and third or fourth owners of high-end German luxury cars tend to lack the resources needed to keep those cars going. So, those S-Classes and 7-Series and A8s end up in a place like this when something expensive breaks at age 15. This one, which has a very straight body and decent interior, now sits in its final parking space, among the Daewoo Leganzas and Volvo 850s in the imports section of a Denver self-service yard. If you're good with the wrenches and have some Audi expertise, you can't beat the luxury-per-buck deal of a solid 10-to-15-year-old A8; the price for a runner tends to be about the same as that for a tattered Corolla of the same age. This car's base price was $69,946 in 2001, or just over 95 grand in inflation-adjusted 2016 bucks, and it's packed full of leading-edge engineering that's still fairly advanced today. Related Video: