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Winterkorn remains CEO of Volkswagen's majority shareholder

Martin Winterkorn may have stepped down as the chief executive of Volkswagen in the wake of the diesel emissions scandal, but he's not out from under the company's large umbrella just yet. In fact, according to a report from Reuters, he still holds four top-level positions not only within the industrial giant's bureaucracy, but at the top of it. And one of those is as CEO of the company's largest shareholder. That holding company is Porsche SE, the investment arm of the Piech and Porsche families (Ferdinand Porsche's descendants) which holds over 50 percent of VW's shares. In 2008, Porsche SE acquired majority interest in the Volkswagen Group which in turn acquired Porsche the automaker – and placed VW's Winterkorn at the head of the executive board of the holding company. Though Winterkorn has resigned from his position as chairman of VW's management board, he has apparently yet to step down from running Porsche SE. That's not the only job that Winterkorn still retains in VW's senior management. He also continues to serve as chairman of Audi, as well as truck manufacturer Scania, and the new Truck & Bus GmbH into which Scania has been grouped together with Man. It remains unclear if or when Winterkorn might resign from those positions as well, or how his tenure in those posts might affect the company's effort to start over in the aftermath of the scandal in which it is currently embroiled. Also unclear, Reuters reports, is how much, exactly, Winterkorn will receive in compensation after having stepped down from his chair at the head of the VW executive board. His pension is reported at over $30 million, but he could be awarded a large severance package as well amounting to as much as two years' worth of his annual compensation, which amounted to around $18 million last year. Whether he receives the severance pay or not is expected to depend on whether his resignation is considered by the supervisory board to have been the result of his own missteps or independent of the situation that resulted in his resignation. One way or another, he's not likely to go poor anytime soon.

Audi to unveil S1 hot hatch at Geneva Motor Show

Audi has been toying with the idea of a hot hatch based on the A1 premium city car for some time now. It rolled out the 500-horsepower A1 Clubsport Quattro concept at the Wörthersee gathering a couple of years ago, then put its form (with half the power) into limited production with the 252hp A1 Quattro (pictured above) shortly thereafter. What it hasn't done is offer a mainstream S1 that people can actually get their hands on, but that's all about to change.
Following spy shots of numerous prototypes, Auto Express claims to have it on good authority that the new S1 will be unveiled at the upcoming Geneva Motor Show in March. Though likely less aggressive in its visual impact, the S1 is expected to get almost as much power as the aforementioned A1 Quattro, with a 2.0-liter turbo 4-cylinder sourced from the larger S3 but detuned to 230 hp.
A six-speed dual-clutch transmission is expected to drive all four wheels - something for which the platform was not originally designed but was later adapted to accommodate - though the availability of a six-speed manual remains in question. Unfortunately the A1 was never destined for the North American market, so as much as we might want one (and as much as Ingolstadt may be motivated to take a bite out of the Mini market), we wouldn't expect to see it roaring into American showrooms.

300-HP 2013 Audi S3 Sportback unwrapped

Not content to let Volkswagen have all of the fun with its GTI and Golf R, Audi is rebooting its five-door S3 Sportback with rather monstrous power. Headed for an official unveil at this year's Geneva Motor Show, the new S3 rolls out with a 300-horsepower, 280-pound-feet of torque turbocharged 2.0-liter TFSI engine under the hood. The four-cylinder powerplant is strong enough to shove the Sportback to 62 miles per hour in just 5.0 seconds when connected to the optional S-Tronic gearbox, or 5.5 seconds with the traditional manual transmission. Top speed is said to be an electronically governed 155 mph. Almost as impressive as those performance figures are the fuel economy ratings: the S- S3 is said to average 34 miles per gallon.
All S3 Sportback models offer Quattro all-wheel drive, ride on a sport-tuned suspension tuned to a lower ride height (about one inch) versus the standard Audi A3. 18-inch wheels with 225-section tires are standard equipment, and 13.39-inch front brakes should offer serious stopping ability.
Audi has done a lot of work shedding pounds from this latest MQB-architecture S3, as well. The car has a curb weight of roughly 3,186 pounds, or some 154 pounds less than the outgoing model. 11 of those pounds were cut via weight-saving measures in the 2.0-liter engine.