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Matthias Muller officially named VW Group CEO

While the vast number of rumors made it seem like a foregone conclusion, Porsche boss Matthias Muller has officially been named Volkswagen Group CEO to replace the recently resigned Martin Winterkorn. His contract runs through the end of February 2020, and until a replacement is found, Muller also gets to hang onto his old job as chairman of Porsche. At the same time, the VW Group Supervisory Board is announcing a massive structural reorganization across the entire company, with the new management model in place by the beginning of 2016. Contrary to previous rumors, Michael Horn remains as President and CEO of VW Group of America. The board wants a greater emphasis on brands and regions going forward, and the scale of this shift can be seen in the US. On November 1, VW Group business in the US, Mexico, and Canada is being combined under the leadership of current Skoda chairman Winfried Vahland. However contrary to previous rumors, Michael Horn remains as President and CEO of VW Group of America. Other brands are also seeing some significant changes mechanically. Porsche, Bentley, and Bugatti now fall under the Group's "sportscar and mid-engine toolkit." This means that the brands will start sharing standardized technical parts. A Chief Technical Officer across all of the company's brands will also start working toward future innovations. The new brand-centric view means the end of a group-wide production department. "Going forward, the brands and regions will also have greater independence with regard to production. So it follows that they should also hold the responsibility for these activities," Berthold Huber, interim Chairman of the Supervisory Board, said in the announcement. In a statement with the press release about his promotion, Muller promised to turn the company around after such an international crisis. He said: "My most urgent task is to win back trust for the Volkswagen Group – by leaving no stone unturned and with maximum transparency, as well as drawing the right conclusions from the current situation. Under my leadership, Volkswagen will do everything it can to develop and implement the most stringent compliance and governance standards in our industry." Matthias Muller appointed CEO of the Volkswagen Group Muller remains Chairman of Porsche AG until a successor has been found Matthias Muller (62) has been appointed CEO of Volkswagen AG with immediate effect.

VW's credit ratings could take a beating

In addition to a significant drop in its share price already, Volkswagen's diesel emissions scandal is continuing to have major financial repercussions on the German automaker. According to The Detroit News, credit rating agencies like Standard & Poor's and Moody's changed their forecasts on the company to negative, and Fitch has considered doing so, as well. Volkswagen appears to have the money to cover the costs of this ordeal, but the agencies question the effect that this has in the long term. "Moody's concern, however, is that Volkswagen's alleged breach of US environment rules and, especially, the process by which that breach occurred, will have an adverse effect on its reputation and credibility within the global passenger car markets," the company wrote in a note to investors, according to The Detroit News. VW has initially set aside $7.25 billion to fix things, but the potential shakeup of top executives has caused some investor uncertainty, too. The actual costs for VW to deal with this scandal are still unknown. In the US, the Department of Justice has begun a criminal investigation, and with other automakers the government has settled for $900 million against General Motors and $1.2 billion against Toyota. Attorneys general in 29 states have started looking deeper, according to The Detroit News, and regulators in Europe, South Korea, and Canada have commenced their own probes, as well. Related Video:

Don't buy that crossover! Buy a cladded wagon instead!

If you're looking to buy a car soon, and you're like most Americans, there's a strong chance you're considering buying a crossover SUV. That's what people want nowadays. People like the tough, tall exterior that suggests adventure and preparedness, they like the high seating position, they like the all wheel drive many have and they like the practicality. Because of this, crossovers have rapidly supplanted typical cars such as sedans, wagons, and more as the most popular vehicles in the country. But they're compromised, too. They're often heavy, thirsty, and expensive compared with more conventional cars. The good news is, there's an alternative, a happy medium between the straight crossover and the traditional car. They're lifted wagons, and they're the best crossover SUVs around. And for those who may not know what we're talking about, we're talking about cars and wagons that have been given a suspension lift for more ground clearance and a higher ride height, and often have all wheel drive standard or optional. They also usually have chunky plastic body cladding to make them look tough and durable. Examples include the Subaru Crosstrek, Audi A4 Allroad, Buick Regal TourX, and Volkswagen Golf Alltrack, among others. Because of the suspension and body modifications, these vehicles fit the trendy crossover mold quite well. And in the case of long-running nameplates such as the Subaru Outback and Volvo Cross Country models, they even have some heritage as outdoorsy machines. They also provide the higher driving position that crossover buyers love. And in some cases, such as with the Golf Alltrack, we've learned they offer better ride quality than their road-oriented siblings. View 9 Photos So these tall wagons offer the key things crossover buyers want, but what makes them better than traditional crossovers is that they have the advantages of the cars they're based on. For instance, the aforementioned Golf Alltrack still drives mostly like a Golf, which is to say, it's nimble, feels peppy, and is easy to maneuver because of its relatively small size. We can't really say the same for the Tiguan, which feels generally more sluggish and uninteresting than the Alltrack. And we mention Volkswagen's compact crossover because it starts at nearly the same price as the Alltrack. Some of the difference in giddy-up can be explained by weight. Normal crossovers can be fairly portly, while these lifted wagons are notably lighter.