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Coronavirus prompts VW to stop production throughout Europe

FRANKFURT — Volkswagen Group, the world's biggest carmaker, is suspending production at factories across Europe as the coronavirus pandemic hits sales and disrupts supply chains, the company said on Tuesday. The German carmaker, which owns the Audi, Bentley, Bugatti, Ducati, Lamborghini, Porsche, Seat and Skoda brands, also said that uncertainty about the fallout from coronavirus meant it was impossible to give forecasts for its performance this year. "Given the present significant deterioration in the sales situation and the heightened uncertainty regarding parts supplies to our plants, production is to be suspended in the near future at factories operated by group brands," Chief Executive Herbert Diess said on Tuesday. Volkswagen's powerful works council concluded it was not possible for workers to maintain a safe distance from each other to prevent contagion and recommended a suspension of production at its factories from Friday. Production will be halted at VW's Spanish plants, in Setubal in Portugal, Bratislava in Slovakia and at the Lamborghini and Ducati plants in Italy before the end of this week, Diess said. Most of its other German and European factories will prepare to suspend production, probably for two to three weeks, while Audi said separately it would halt output at its plants in Belgium, Germany, Hungary and Mexico. Volkswagen's vast factories in Chattanooga, Tennessee, in Puebla, Mexico, and plants in Brazil were not affected, but that would depend on how the coronavirus spreads, VW said. Volkswagen has 124 production sites worldwide of which 72 are in Europe, with 28 in Germany alone. "2020 will be a very difficult year. The coronavirus pandemic presents us with unknown operational and financial challenges. At the same time, there are concerns about sustained economic impacts," Diess said.   Production in China resumes Volkswagen Group sold 10.96 million vehicles last year, putting it ahead of Toyota based on the latest figures from the Japanese carmaker. Globally, VW employs 671,000 people and it delivered 4.86 million vehicles to European customers in 2019. Only last month the car and truck maker based in Wolfsburg, Germany, predicted that vehicle deliveries this year would match 2019 sales and forecast an operating return on sales in the range of 6.5% to 7.5%. "The spread of coronavirus is currently impacting the global economy. It is uncertain how severely or for how long this will also affect the Volkswagen Group.

Maurizio Reggiani talks racing, forced induction, and Lamborghini V12s

Maurizio Reggiani deserves his own chapter in Lamborghini's history. He joined the Italian company in 1995 and rose to the position of chief technical officer in 2006; he notably led the development of some of Lamborghini's greatest modern-day engines, including the 6.5-liter V12 that powers the Aventador. His time as the head of Lamborghini's research and development department ended earlier in 2022 and he now serves as vice president of motorsport. His successor, Rouven Mohr, is tasked with implementing an ambitious and far-reaching electrification strategy called Direzione Cor Tauri and outlined in 2021. As Lamborghini prepares to enter a new era, I sat down with Reggiani for a behind-the-scenes look at nearly 30 years of V12 development. [The following has been edited for clarity.] RG: Lamborghini has made other engines and other companies have made V12s. Why is the V12 so often associated with Lamborghini? MR: In a time when everybody started talking about downsizing and reducing cylinder count, we continued to say that the V12 is the flagship of the super-sports car. We were born with this: Lamborghini has made a V12 during every year of its history. We also did V8s in the time of the Jalpa, for example, but the V12 was every time the main pillar of this company. If you want to be considered the pinnacle of super-sports cars, no other engine can really speak to purists like a naturally-aspirated V12 can. In terms of power, in terms of sound, in terms of emotion, and in terms of, let me say, the coolest engine that's possible in terms of engineering definition. RG: What projects have stood out to you during your time at the head of Lamborghini's R&D department? MR: When I started my career, 40 years ago at Maserati, I worked in engine development. At Bugatti, I was responsible for powertrain, which of course includes the engine. For me, an engine is kind of like a first love, and you remain in love for all of your life. To look at an engine, to look inside, to discuss the components, to have an opinion, and to give a suggestion was my way of working every time. One of the projects that excited me the most was the Diablo GT. For the first time, we decided to put a single throttle per cylinder, and it was a level of sophistication that was more or less never used before by Lamborghini. You take experience from the past and try to apply it to [the present]. This improved a lot the performance, and it was really super exciting.

Lamborghini CEO says Urus brings lots of new customers from Russia and India

The new Lamborghini Urus might turn out to be a golden goose for Lamborghini. The twin-turbo V8 SUV is finding new customers for the Italian supercar manufacturer, and in an interview with CNBC, Lamborghini's CEO Stefano Domenicali says the reception for the $200,000 vehicle has been unexpectedly "fantastic." The outlook for Lamborghini's 2018 sales is projected at 5,000 cars, and the Urus could account for over a thousand of those. By 2020, Lamborghini would be building some 8,000 cars per year, and over a half of those would be Urus sales. Domenicali says that would be a point where Lamborghini would restrict its growth, as does rival Ferrari, to keep its supercar brand exclusive. The head of Lamborghini's Asia Pacific sales, Andrea Baldi also says the manufacturer will "always make sure" that demand for its cars is higher than the supply. If making SUVs turns out to be a success for Lamborghini, the key might be hidden in the nameplate of the Urus. It's indeed Russia that looks to be a fertile land for Urus sales, since it's a country with both demanding roads and demanding customers. Domenicali says Russian roads have made it hard to sell traditional Lamborghini products, but the SUV should find a strong customer base there. India is another significant new market for the Urus, for similar reasons. And as for the influx of new Lamborghini customers: a growing part of them are cryptocurrency investors. It looks like bitcoin bros will only accept a Lamborghini as the token of their newfound success. "These are young people that want to become very rich with a high-risk investment," said Domenicali. "And our customers are young as well, and very aspirational. They are not shy. So I think there is a connection." Related Video: News Source: CNBCImage Credit: AOL/Drew Phillips Lamborghini Crossover SUV Luxury Performance stefano domenicali