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Volkswagen Motorsport cranks out Golf touring car

Just when you thought Volkswagen had done all the hot Golfs we could handle, its motorsports division has come out with an even hotter one. This racing version is built to compete in the Touringcar Racer International Series (TCR) across Europe and Asia, and certainly looks the part. Based on the production Golf hatchback we all know, the TCR competition version promises to be to circuit-based touring car racing what the Polo R WRC is to the rally stage. And that little pocket rocket has been positively dominating the World Rally Championship. Developed in conjunction with Seat's racing department and Liqui Moly Team Engstler, the Golf touring car packs the 2.0-liter turbo four from the Golf R. Only instead of 292 horsepower and 280 pound-feet of torque in the production version, it's been tuned to channel 330 hp and 302 lb-ft to the front wheels (instead of all four) through a six-speed dual-clutch transmission. It rides on 18-inch alloys fitted to a track widened by nearly a foot and a half, along with a competition-spec aero kit to keep it glued to the tarmac and a stripped-out cockpit. Though the 2015 TCR series is already under way, a pair of these racing Golfs will be entered in the upcoming round at the Red Bull Ring in Austria, before the series heads off to Singapore (in support of the F1 grand prix there) and Thailand ahead of the final round in Macau. If everything goes well, customer teams will be able to pick these up and enter them in next year's championship. Volkswagen develops new Golf for the racetrack - Concept car for customer racing, in line with new TCR regulations - Production-based touring car with 330 hp, front-wheel drive and six-speed DSG gearbox - First competitive test this weekend in Spielberg (A) Wolfsburg (09 July 2015). A new Golf for the racetrack: Volkswagen Motorsport is developing its first racing car based on the seventh generation Golf. The production-based, 330-hp concept car is assembled in accordance with TCR regulations and is intended to help Volkswagen evaluate a potential customer racing programme from the 2016 season onwards. In order to accelerate the development of the car, the new Golf will be tested under competitive conditions between now and the end of the season: as cooperation partner, the Liqui Moly Team Engstler will run two cars at the eighth round of the Touringcar Racer International Series (TCR) at the Red Bull Ring in Spielberg (A).

VW stock plummets as Euro markets open

The fallout from Volkswagen's installation of an emissions "defeat device" on nearly 500,000 diesel-fueled models in the US is already hitting the automaker hard on the German stock exchange. At one point, the share price plummeted 23 percent to erase the equivalent of $17.6 billion in value. Things eventually bounced back slightly to a still severe 19.23 percent loss, according to Bloomberg as of this writing. The scandal couldn't come at a worse time for chairman Martin Winterkorn. The VW supervisory board takes up the issue of renewing his contract on September 25, Bloomberg reports. If things get bad enough, the door could be open for a new boss to step in. Dealers in the US might start feeling the pain from this, as well. Affected 2015 VWs that are still at showrooms are now under a stop sale. Until the issue is straightened out, the Environmental Protection Agency isn't certifying the company's 2016 diesel models with the 2.0 TDI, either. The diesel emissions problem was first discovered by research from West Virginia University and the International Council on Clean Transportation. In some cases, the engines can produce 40 times more nitrogen oxides than allowed. The automaker could be on the hook for $18 billion in fines for the breach, but the actual figure is expected to be lower. In response, Winterkorn has issued a public apology and ordered an independent investigation into what happened. The EPA and California Air Resources Board have also been looking into the situation. This could become an international problem, though. According to The Detroit News, European authorities might begin similar inquires to check the automaker's diesel emissions there.

Winterkorn will leave remaining VW posts by end of the month

After stepping down as chief executive of the Volkswagen Group last month, Martin Winterkorn still retains a few key positions within and related to the German automaker. According to the latest reports, he's set to resign from those positions as well in the coming days. Aside from his former position as chairman of VW's executive board, Winterkorn has also served (and continues to serve at present) as chairman of the supervisory boards of Audi, truck manufacturer Scania (which is owned by VW), and the group's Truck & Bus division (of which Scania is part alongside Man). He's also the chief executive of Volkswagen's largest stakeholder Porsche SE, having taken up the position after the Porsche/Piech family enterprise acquired its majority stake in the group that also subsumed the sports car manufacturer. In what could prove a strong indicator of things to come, and according to the report from Reuters, Winterkorn was not present at a recent meeting of Audi's board. In his place, the meeting was presided over by deputy chairman Berthold Huber. The former labor leader also served as interim chairman of the VW board after Ferdinand Piech's departure but before CFO Hans Dieter Potsch was named to the post. The companies in question have yet to make any announcements regarding Winterkorn's remaining positions, or confirm the reports regarding his future. However parties close to the automaker and its owners reportedly expect the resignations from those positions to come as well before the end of the month, if not before the week is out. Related Video: News Source: ReutersImage Credit: JOERG KOCH/AFP/Getty Green Hirings/Firings/Layoffs Porsche Volkswagen Diesel Vehicles vw diesel scandal martin winterkorn Scania truck and bus gmbh