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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.

Volkswagen Group previews its wares on eve of Geneva show

The Volkswagen Group is comprised of 11 brands producing 240 vehicles across 49 factories throughout the world. So the best way to show off the range of the VW family is to cram a few thousand journalists and VIPs into a massive makeshift stand to outline the Group's goals, what's in the pipeline and what you'll be able to buy later this year.
To that end, VW pulled out all the stops on the eve of the 2012 Geneva Motor Show, bringing along 10 vehicles from across the range. We'll be delving into the details of each over the next two days of show coverage, but before that happens, you can read all about what we saw tonight from the cheap seats after the break.

New Audi A5 to debut in Ingolstadt on June 2

Audi will introduce the second-generation A5 during a late-night lightshow at its Ingolstadt, Germany, museum on June 2. In the announcement, the company only called out the standard model, but a new S5 coupe is probably not too far behind. Details on the next A5 have been scarce, and spy shots haven't revealed much. Our most recent images come from June of last year and show a vehicle that more or less follows the current A5's theme – a two-door A4 with a few small visual tweaks to distinguish it from the sedan, including a wider stance. Expect an interior treatment very similar to the A4's as well. The new coupe's mechanicals should mirror those of the four-door as well. The A5 will likely stick with a 2.0-liter, turbocharged four-cylinder (the A4's currently makes 252 hp) and ditch the current car's eight-speed automatic transmission for a new seven-speed dual-clutch. Unlike the sedan, the coupe is likely to continue offering a six-speed manual, as it is positioned as a sportier option even if it shares the A4's platform. Front-wheel drive will be standard, while Quattro all-wheel drive will be the one to buy. The S5 should definitely offer a manual again, along with the S4's 354-hp turbo 3.0-liter V6 and standard all-wheel drive. A seven-speed dual-clutch will be an optional extra, again, just like on the S4. Timing of the new A5's arrival appears to have shifted. A leaked product roadmap originally called out April 2016 for the A5 and S5 hardtop and May 2016 for the Cabriolet versions. Based on the June 2 debut, it looks like Audi pushed those dates back, so we'd expect the new convertibles to make their debut sometime in July. The new A5 is pegged to arrive as a 2018 model. We'll have all the details on the new A5 Coupe when it debuts early next month. Related Video: