1957 Porsche 356 Speedster Replica Californian/fiberfab Wide Body. 4965 Miles! on 2040-cars

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Volkswagen, Bosch reach diesel settlement worth $1.6 billion

Volkswagen Group of America and automotive parts maker Bosch reached a settlement in which the two companies will pay a combined $1.6 billion because of their roles in the automaker's diesel-emissions scandal. VW, Europe's largest automaker, will pay about $1.2 billion to either repair or buy back vehicles. Bosch said separately that it will pay more than $300 million to owners of diesel-powered Volkswagens, Audis, and Porsches. The settlement stems from emissions issues related to about 78,000 VW-made cars and SUVs with 3.0-liter V6 diesel engines that were sold in North America. VW will recall and repair about 58,000 vehicles made for the 2013-through-2016 model years. The company will also buy back, offer a trade-in credit, or terminate the leases for about 20,000 cars for the model years 2009 through 2012. The older impacted models are the Volkswagen Touareg and Audi Q7, while the newer ones are the Touareg and Q7 as well as Audi's A6, A7, A8, A8L, and Q5 models, and finally the Porsche Cayenne Diesel. Previous reports estimated the payout at closer to $1 billion. The US settlement follows one reached last year between VW and US regulators in regards to VW's 2.0-liter diesel engines. That settlement was estimated to cost VW about $15 billion and impacted owners of about 500,000 vehicles. VW has had a stop-sale on its diesel vehicles in the US since late 2015 after it was discovered that VW installed software in its diesels that allowed those vehicles to cheat emissions-testing systems. VW on Wednesday also reiterated that it would contribute $225 million towards environmental-remediation efforts in the US. Volkswagen of America CEO Hinrich J. Woebcken, in Wednesday's statement, said that "we will continue to work to earn back the trust of all our stakeholders and thank our customers and dealers for their continued patience as this process moves forward." Related Video: News Source: Volkswagen via Automotive News-sub.req.Image Credit: Shannon Stapleton / Reuters Government/Legal Green Audi Porsche Volkswagen AutoblogGreen Exclusive Emissions Diesel Vehicles vw diesel scandal scandal settlement

Porsche already considering even more hardcore Cayman GT4 RS?

We're not sure what kind of person would look at the new Porsche Cayman GT4 and say "that's not enough," but we're sure they're out there. And to satisfy just such a customer, Porsche could very well offer a GT4 RS version in the future. "This is just the beginning of the era. I would be interested in doing a Cayman GT4 RS version, but at the moment we didn't even talk about such a thing. If the customers call for something like this we could think about it." These are the words of Andreas Preuninger, speaking with Evo at the 2015 Geneva Motor Show this week. As head of Porsche's GT line, Preuninger and his team are responsible for creating hardcore track models like the 911 GT3, the new 911 GT3 RS and – for the first time – the new Cayman GT4. Clearly buoyed by the early success of the GT4, Prenuninger is already looking towards the next step. Considering that the existing model already packs a 3.8-liter flat six with 385 horsepower and the manual transmissions so many GT3 fans miss, we're not sure how much more they could get out of the Cayman – but we'll sure enjoy watching them try.

Porsche to decide soon on Bugatti future

WEISSACH, Germany — Volkswagen will soon decide on the future of its luxury brand Bugatti, Oliver Blume, Volkswagen management board member and CEO of Porsche AG, said on Monday. Last week, Reuters reported that Bugatti was working on a strategic partnership with Rimac, which will likely result in a joint venture between Porsche and Rimac, with Porsche as a minority partner, Volkswagen CEO Herbert Diess said in March. "The future of Bugatti is an issue that will be decided on a group level," Porsche said in a statement, declining to comment further. Porsche boss Oliver Blume earlier this year said intense discussions on Bugatti's future were ongoing and that Rimac could play a role as the brands were a good technological fit, adding that a decision was expected in the first half of 2021.