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Volkswagen reportedly to name Matthias Muller CEO

Porsche chief executive officer Matthias Muller is expected to be named CEO of Volkswagen AG, the Wall Street Journal and other sources reported Thursday morning. Muller, 62, has led Porsche since Oct. 1, 2010, and jumpstarted the sports-car brand's expansion around the world. He replaces Martin Winkerkorn, who stepped down Wednesday amid the company's worsening diesel scandal. At least three more executives are also expected to be fired, including Volkswagen's US chief and the heads of Audi and Porsche research and development. Both brands are divisions of VW. A US spokesman wouldn't confirm the reports. An official announcement is expected at VW's board meeting on Friday. Muller's ascension caps a stunning week of turmoil for Volkswagen, which manipulated software to make its diesel-powered vehicles appear cleaner during testing that they are in real-world driving. The charges were revealed last week by the EPA, which cited the work of researchers at West Virginia University. About 482,000 vehicles are affected in the United States, which will be subject to recall, and VW estimates about 11 million of its vehicles around the world have the rigged software. The well-regarded Muller was viewed as a front-runner for the job even before Winterkorn stepped down. Before helming Porsche, he oversaw all vehicle projects globally for VW from 2007-2010. Previously, he was in charge of the Audi and Lamborghini product lines, and earlier in his career was responsible for the Audi A3 program in the 1990s. He joined Audi in 1977. He's trained as a toolmaker and studied information technology in Munich. His last name is sometimes spelled Mueller in English. Muller faces immediate challenges as he takes over VW's sprawling 78-year-old industrial empire, including recalls and regulatory actions around the world. In the US alone, the company faces a fine of up to $18 billion. VW, an industrial symbol of Germany, is also far larger than any unit Muller has run in his career. While Porsche sold 189,849 vehicles in 2014 globally, it's one of many VW brands. Collectively they sold 5.04 million vehicles through the first six months of this year, making Volkswagen the world's largest automaker. Related Video:

Drive-up bank robbery perpetrated with Cayenne and WRX

Thieves carried out what appears to be a movie-script-perfect robbery of a bank in Sydney, Australia early on Friday morning, using two stolen high-performance vehicles in the process.
At around 11:15 AM local time, in near mid-day light, reports say that two men in masks smashed into the side of a Westpac bank in a confirmed-stolen black Porsche Cayenne. The perpetrators were armed with sledgehammers according to witness reports, and took only about five minutes to take what they were after inside of the bank.
The rapid getaway was executed in a Subaru WRX, also confirmed as a stolen vehicle, while witnesses snapped camera phone images of the illicit goings on. One Twitter user posted a few of the images to his social media feed; you can take a look at them in our small gallery below. Follow on down for the full video report, from The Sydney Morning Herald.

Porsche still deciding on one or two new 911 plug-in hybrids

Back in March, Porsche CEO Oliver Blume told Autocar that the coming Porsche 911 plug-in hybrid "will be the most powerful 911 we've ever had." That quote portended a 992-series 911 with 700 horsepower or more. A new report in Auto Express, however, suggests Porsche is having energetic debates about just what the 911's hybrid strategy will be, and that the only agreed-upon plug-in hybrid 911 so far is a milder version to sit in the middle of the range. Putting all our rumors in a row, in January, Automobile reported on an electrically-assisted 911 with 485 hp and 561 pound-feet of torque. The new AE piece effectively endorses that, saying the mid-range hybrid would follow the program established by the all-wheel drive Cayenne e-Hybrid that produces a combined 455 hp and 516 lb-ft. The 911 would naturally use a flat-six instead of the Cayenne's 3.0-liter V6, and the sports car would be tuned for better sound response and sharper reflexes. AE says fuel economy for this hybrid should be at least 80 eMPG, with emissions of less than 80 grams per kilometer. The current base Carrera is currently rated at a maximum 38.2 mpg in the UK, with minimum emissions of 169 g/km. The hybrid, fitted with a double-clutch gearbox and Porsche's mechanical all-wheel-drive system, could run from a stop to 62 miles per hour in less than four seconds, making it more efficient than a base Carrera and much faster than a Carrera 4S. AE says there remains only "the potential for Porsche to add a second, more powerful hybrid 911," and says its sources claim that's what's "causing the most consternation behind closed doors." This one would be the twin-turbocharged, 700-hp beastie that, as a series production car, would have a hard time not usurping the 540-hp Turbo, 580-hp Turbo S, and 607-hp Turbo S Exclusive. True, the hybrid would be handicapped with a 550-pound battery pack, but the instant acceleration and handling benefits of electric AWD — with no connection between the axles — could provide the final edge over the other three. As such, it makes sense that there'd be a whole lot of debate about a flagship 911 hybrid. On the other hand, such a monster seems like an eventuality in view of Porsche's electrified aspirations, the lessons gained from the 918 Hybrid and the 919 Hybrid Le Mans racer, and the fact that CEO Blume has already spoken. The Stuttgart carmaker expects a sales mix of 25 percent electric, 25 percent hybrid, and 50 percent conventional powertrains by 2025.