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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

2015 Porsche Cayenne GTS proves performance is relative

The Turbo may be the most powerful model in the Cayenne range, but the GTS is arguably the enthusiast's choice. (In so far as a 4,500-pound crossover can be considered an "enthusiast's choice," anyway.) And now, after refreshing the rest of the Cayenne lineup, Porsche has revealed the new Cayenne GTS, alongside its new 911 GTS stablemate, here at the LA Auto Show. Like the new Cayenne S, the new GTS drops the previous version's atmospheric V8 for a 3.6-liter twin-turbo V6, but ups the output to 440 horsepower and 445 pound-feet of torque to propel Zuffenhausen's portliest to 62 in a scant 5.2 seconds. Alongside the power upgrade, the GTS gets a lowered air suspension and sportier exhaust, the beefier brakes from the Cayenne Turbo and an upgraded aero kit to help with the whole barn-door-profile thing. Just don't expect all that extra kit and the prestige of a Porsche badge on your crossover to come cheap, with prices starting at $95,500 (plus $995 destination).

Lightspeed Classic 911 rocks out with its sprockets out

Singer does a pretty damn good job re-imagining the Porsche 911, but the faithful will aptly tell you that it's not the only name in the business. Munich-based Autoaktiv Motorsport also does a pretty compelling rendition of the classic German sports car. It's called the Lightspeed Classic, and this video clip casts it in light as good as we've ever seen. The brainchild of former Porsche engineer Ralf Skatulla, the Lightspeed Classic is based on the 964 but upgrades some key components while keeping the classic style. Power comes from a 3.8-liter flat-six from the 964 RS (albeit rebuilt with titanium components) that's been retuned to deliver 340 horsepower. It's got the gearbox from a 996 Turbo, the clutch from a 997 GT3 RS, and the brakes from a 996 GT3 Cup, along with Michelin Pilot Sport rubber coating a set of Fuchs-style BBS alloys. The result, as you can see, is lovely. Especially with Tim Schrick behind the wheel. The German racing driver is also a television personality, co-hosting D Motor – Germany's equivalent to Top Gear – alongside Sabine Schmitz and Carsten van Ryssen. Which is all well and fine, but what you really want to do is scope out the footage for yourself. If you dig Porsches (or even if you don't), it'll probably be the best 49 seconds you'll spend all day. Related Video: