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Volkswagen may soon have remedy for more cheating diesels

Nearly a half-million motorists who own Volkswagens equipped with 2.0-liter engines have known for a few weeks the company might wind up buying back their vehicles as part of a settlement surrounding the company's emissions cheating. But about 85,000 drivers who own similarly afflicted diesels with 3.0-liter engines have been stuck without a remedy. They may not be waiting much longer. Bloomberg reports that Volkswagen will soon propose a fix for vehicles, including those from Audi and Porsche, equipped with 3.0-liter engines that will include new software and a new catalytic converter for the vehicles. Discussions with federal regulators are ongoing, according to the news outlet. "We are cooperating with the regulatory agencies and working with them on an approved solution," says Audi spokesperson Mark Clothier. "Beyond that, we cannot comment on ongoing investigations." Regulators have alleged that the company's 3.0-liter engines contain "defeat devices," illegal software that allows a vehicle to detect when it's undergoing an emissions test and turn off pollution control during real-world driving. The defeat device allows these vehicles to increase emissions of nitrogen oxide up to nine times the Environmental Protection Agency's allowable threshold. Affected 3.0-liter vehicles include the 2014 Volkswagen Toureg, 2015 Porsche Cayenne and the 2016 Audi A6 Quattro, A7 Quattro, A8, A8L and Q5. Volkswagen is slated to finalize its plans for buying back the afflicted 2.0-liter cars and potentially offer those motorists "substantial compensation" for their troubles by June 21, and it's possible that a formal announcement on the 3.0-liter vehicles would come at the same time. Related Video:

Porsche board members facing another ˆ1.8B lawsuit over VW takeover bid

Back in 2008, Porsche got the bright idea that it could take over Volkswagen in the midst of the worst economic slump since the Great Depression. Ignoring that this was a catastrophic move for the Stuttgart sports car manufacturer that that eventually resulted in it nearly going bankrupt and eventually being taken over by the same company it sought to control, the aftermath has left Porsche Chairman Wolfgang Porsche and board member Ferdinand Piëch in the crosshairs of seven hedge funds that lost out during the takeover and are now seeking €1.8 billion - $2.43 billion US - in damages from the two execs, according to the BBC.
See, investors bet on Volkswagen's share price going down, partially because Porsche said it wasn't going to attempt a takeover. But Porsche was attempting to take over VW, having bought up nearly 75-percent of VW's publicly traded shares. When word broke that Porsche owned nearly three-quarters of VW (which indicated an imminent takeover attempt), rather than go down like the hedge funds bet it would, VW's share price skyrocketed to over 1,000 euros per share, according to Reuters.
Naturally, when you bet that a company's share price is going to drop and it in turn (temporarily) becomes the world's most valuable company, you lose a lot of money, unless you're able to buy up shares before prices jump too much. This led to a squeeze on the stock, which the hedge funds accuse Porsche and Piëch (who are both members of the Porsche family and supervisory board) of organizing.

2015 Green Car Of The Year finalists announced, run alt-fuel gamut

The 2015 edition of the Green Car of the Year award is following right in the footsteps of previous years with a variety of alt-fuel powertrains making the just-announced finalists list. You've got your plug-in vehicle (the BMW i3), your compressed natural gas (the Chevy Impala Bi-Fuel), your high-efficiency diesel (the Audi A3 TDI), your 40+ mile-per-gallon gas engine (the Honda Fit) and, finally, a car that can do a little bit of everything (the VW Golf). The Golf is available – at least in some parts of the US – with three different powertrains: a 2.0-liter diesel, a gasoline engine and all-electric drive. The Impala can burn either natural gas or gasoline in its 3.6-liter engine. The A3 is an efficiency champ, able to get 73.5 mpg on some European tests. The i3 can be a pure electric vehicle or come with a short range extending engine. And the Fit brings 41 miles to the gallon in a practical, affordable package. The GCOY award is announced every year at the Los Angeles Auto Show by Green Car Journal. The committee doesn't just take the fuel-saving technology into account, but also a vehicle's "availability to the mass market." Last year, the Honda Accord Hybrid/Plug-In Hybrid won top honors, following up on wins from the Ford Fusion models (plug-in hybrid and hybrid) for 2013, the Honda Civic Natural Gas for 2012 and the Chevrolet Volt for 2011. FINALISTS ANNOUNCED FOR 2015 "GREEN CAR OF THE YEAR"" Green Car Journal to Reveal Winner of 10th Annual Award at LA Auto Show" Press & Trade Days, November 20 LOS ANGELES, CA (October 21, 2014) – Green Car Journal has announced its five finalists for the magazine's high-profile 2015 Green Car of the Year® program. The 2015 models include the Audi A3 TDI, BMW i3, Chevrolet Impala Bi-Fuel, Honda Fit, and VW Golf. The Green Car of the Year® award, an honor widely recognized as the auto industry's most important environmental accolade, celebrates its 10th anniversary this year. An increasing number of vehicle models are considered for the Green Car of the Year® program each year, a reflection of the auto industry's expanding efforts in offering new vehicles with higher efficiency and improved environmental impact. Green Car Journal has been honoring the most important "green" vehicles every year at the LA Auto Show, since its inaugural award announced at the show in 2005.