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Investors storm Volkswagen with $9 billion in lawsuits

Volkswagen's investors are latest group to take up pitchforks against the embattled automaker, and they're seeking $9 billion in damages, Reuters reports. The investor lawsuits were filed in a court in Braunschweig, Germany, near Volkswagen's Wolfsburg headquarters. On Monday, the first business day following the anniversary of the emissions revelations, the court received 750 lawsuits alone. All told, about 1,400 lawsuits have been filed. The largest single claim totals $3.7 billion and was filed more than six months ago. The lawsuits stem from complaints that Volkswagen didn't divulge information on the cheating software to investors quickly enough. Volkswagen has said that it hasn't broken any capital market laws. The $21.5 billion the company set aside to weather the storm may not be enough. The consumer fix is estimated to run the company $14.7 billion, either through buybacks or a fix that still seems unclear. In addition to the lawsuits, Volkswagen CEO Matthias Mueller confirmed that Audi boss Rupert Stadler is under investigation regarding the scandal. Mueller refused to give further details, but this shouldn't come as a surprise to anyone. Audi has admitted that its 3.0-liter V6 was equipped with the same emissions-cheating software as the 2.0-liter four-cylinder diesels. Stefan Knirsch, Audi's head of development, has been suspended as part of the overall investigation. Knirsch took over duties after his predecessor quit. Knisch was previously head of engine development at Audi. Related Video: News Source: Reuters Green Hirings/Firings/Layoffs Audi Volkswagen Emissions Diesel Vehicles vw diesel scandal

Audi RS Q3 gets snarlier, hits 62 mph in 4.8 seconds [w/video]

Well, that was quick. A mere 20 months after its debut at the 2013 Geneva Motor Show, Audi has issued a fairly significant update to its RS Q3 crossover. A light exterior refresh - the most noticeable change is that the grille surround and headlights are now joined - belies more significant changes under the compact crossover's hood.
Power from the 2.5-liter, turbocharged five-cylinder has been boosted nicely from 310 horsepower to 340, while torque has jumped from 309 pound-feet to 332 lb-ft. The result of this extra thrust is that the tiny CUV can now scamper to 62 miles per hour in a seriously quick 4.8 seconds, rather than the original RS Q3's 5.5-second sprint. A new fifth-generation multi-plate clutch is fitted to the seven-speed S-tronic dual-clutch transmission, which Audi claims will now deliver even quicker shifts.
Lighter brake rotors with ridiculous eight-piston calipers in the front provide what we imagine is a lot of stopping power, while Audi continues to offer an optional adaptive damper system. 19-inch wheels are standard while 20s are optional.

Audi SQ7 TDI would make a compelling option in the US

Intrigued by the prospect of the new Audi SQ7 TDI? We are. And promising though the signs may look, we'll likely still have to wait a while before Audi confirms whether it will bring the new performance diesel crossover to North America, much less announce pricing. But based on the sticker just attached in Europe, the SQ7 looks like a compelling choice – if a difficult one to compartmentalize. Audi has priced its new top-of-the-line crossover at 89,000 euros. Adjust for taxes and exchange rates, we'd likely be looking at an MSRP of roughly $86,000 in US showrooms, if and when it gets the green light from Ingolstadt to embark on the the transatlantic voyage. That places the SQ7 above any diesel crossovers we get in the US, but significantly undercuts the large, gasoline-powered performance SUVs we do get – like the BMW X5 M ($99k), the Mercedes-AMG GLS63 ($124k), and the Porsche Cayenne GTS ($95k) or Cayenne Turbo ($115k). The diesel performance version of the Q7 has more direct competition overseas in the forms of the Porsche Cayenne S Diesel and BMW X5 M50d – but the Audi offers a bigger bang for only a little more buck (or euro) than either. Where Porsche offers 385 horsepower and 627 pound-feet of torque for ˆ87.4k, and the BMW boasts 381 hp and 545 lb-ft for ˆ85.7k, the Audi trumps both with a prodigious 435 hp and a massive 664 lb-ft for only a little more cash. The SQ7 also outperforms both by a significant margin, reaching 62 miles per hour from a standstill in a scant 4.8 seconds, versus the 5.3 achieved by both the Cayenne S Diesel and X5 M50d. That places Audi's latest in something of a category of its own, leaving its similarly priced but less potent diesel competition in its wake. And with more torque but less power, it rapidly encroaches on the levels of performance offered by the top gasoline-powered performance crossovers – whose 0-62 sprints range from 4.2 seconds (in the X5 M) to 4.6 (in the GLS 63). The question on our minds is whether Audi will bring the new SQ7 TDI to these United States. Our sources tell us the chances are good, but far from confirmed. Our hopes were further raised by its appearance in the latest Captain America movie. But it's the SQ7's performance vis-a-vis the competition – difficult as it may be to categorize – that has whetted our appetites the most.