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Volkswagen taps Porsche chief for board

Matthias Mueller was promoted to the top position at Porsche in 2010 after a successful stint of developing model lines during his 36 years with the company, mainly at Audi. Having shown the same prowess while overseeing Porsche for the past five years, German outlet Frankfurter Allgemeine Zeitung reports that Mueller will be promoted to the management board of the Volkswagen Group, according to a leaked copy of an agenda for the meeting. It's said that a new spot is being created for him, one that will put him in charge of "overseeing cooperation" among Audi, Bentley, Bugatti, Lamborghini, and Porsche. While other group executives are known to hold positions on the board and with brands, or across brands, it isn't clear yet whether Mueller will keep his spot at the CEO of Porsche after the promotion. One thing that is certain is the 61-year-old Mueller doesn't see himself in line for Volkswagen Group CEO Martin Winterkorn's job in 2016, having told FAZ this month, "It's no solution to put a 63-year-old at the head of Volkswagen." News Source: Reuters, Automotive News - sub. req.Image Credit: Geoff Robins/AFP/Getty Images Hirings/Firings/Layoffs Porsche Volkswagen Performance volkswagen group matthias mueller promotion

Seinfeld's Porsches and VWs command $22 million at auction

Jerry Seinfeld sold off parts of his private collection last weekend at the Gooding & Company auction at Amelia Island, and the comedian's prized possessions garnered an impressive $22 million. Seinfeld is a passionate collector of Porsches, and the top lot which Gooding moved from his collection was a 1955 Porsche 550 Spyder, which sold for $5.35 million – right in the middle of its estimated range. Others inline with their pre-sale estimates included a 1990 962C racer ($1.65 million), a '94 964 Flatnose Turbo ($1 million), a '66 911 ($275,000), and a '64 VW Camper ($99,000). A few lots exceeded expectations, notably a '74 911 Carrera IROC RSR that went for $2.3 million (over an estimate of $1.2-1.5 million), as did a pair of 911 Speedsters from 1989 and 2011 and a 356 Speedster from '57. Jerry's 1960 Volkswagen set a new record for Beetles sold at auction when it went for a top bid of $121,000, well exceeding its estimated $45,000 value. The '73 Porsche 917/30 Can-Am Spyder, however, sold for $3 million – which might seem like a lot of money until you realize that it was estimated to fetch upwards of $5 million. A '59 718 RSK went for only $2.86 million when it was valued at $4 million. A pair of 356s sold for $825,000 (instead of $1.25 million) and $1.5 million (instead of $2.25 million). A 993 Cup and a '58 Jadgwagen fell below expectations as well. Altogether, CNBC notes that the $22 million brought in by the collection fell well below the $28-32 million it was anticipated to raise. Far be it from us to count someone else's money, but something tells us Seinfeld won't be hurting too much after the sale. This is the guy, after all, who turned down an offer from NBC that would have netted him $5 million per episode for another 22-episode season of the eponymous show that made him famous. Related Video: Gooding & Company Sets Amelia Island Record for Single Lot and Celebrates More Than $60 Million in Sales from its 2016 Amelia Island Auction 1961 Ferrari 250 GT SWB California Spider Fetches $17,160,000, a Gooding & Company Record Selections from The Jerry Seinfeld Collection Total More Than $22.2 Million AMELIA ISLAND, Fla. (March 13, 2016) – Gooding & Company, the auction house acclaimed for selling the world's most significant and valuable collector cars with the tradition of presenting some of the greatest collections to ever come to market, realized $60,162,150 in a single day at the company's 2016 Amelia Island Auction.

Volkswagen Jetta getting new 1.4L turbo four

In yet another example of engine downsizing, Volkswagen has announced it is slotting a new 1.4-liter turbo four into the Jetta. The smaller, forced-induction engine will replace the naturally aspirated 2.0-liter four in the Jetta S and the 1.8-liter turbo four in the Jetta SE, bringing with it direct injection and improved fuel economy. The 1.4-liter turbocharged four-cylinder engine is from the EA211 family. It's made of aluminum and features a compact single-scroll compressor, an intercooler integrated into the injection-molded induction pipe, exhaust manifold integrated into the head, variable intake and exhaust valve timing, direct fuel injection, dual overhead cams driven by a toothed belt, and a 10.0:1 compression ratio. All that adds up to 150 horsepower and 184 pound-feet of torque, mated in the Jetta to either a five-speed manual or six-speed automatic transmission. Fuel economy figures have yet to be certified, but are projected to come in at around 39 miles per gallon on the highway with the automatic, representing 13- and 7-percent improvements over the units it replaces. The EA211 is Volkswagen's new global small gasoline engine family, manufactured principally by Skoda in the Czech Republic. It's set to replace the old EA111 series, offering higher efficiency in a more compact and adaptable package. The Jetta Hybrid already uses essentially the same engine paired with an electric motor, and is being adapted to three-cylinder formats as well. INTRODUCTION OF NEW 1.4T ENGINE REINFORCES VOLKSWAGEN'S LEADERSHIP IN TURBOCHARGED, DIRECT INJECTION TECHNOLOGY Aug 4, 2015 Fitment of EA211 engine in Jetta models extends implementation of intelligent downsizing to 97 percent of Volkswagen vehicles sold in the U.S. market Traverse City, MI — Volkswagen pioneered the use of small displacement; highly efficient turbocharged and direct-injection engines in the U.S. Volkswagen first used this combination of turbocharging and direct injection in this market in its TDI® Clean Diesel engines in the Passat in 1996 and extended it into the gasoline field in the 2006 Jetta GLI and GTI models. Since then, the Volkswagen EA888 four-cylinder engine has set the benchmark for small-displacement turbocharged engines, beginning with the 2009 CC, while the EA288 TDI has set the standard for diesel engines in the North American market since it first appeared in the 2009 Jetta TDI Clean Diesel.