Rare 2003 Volkswagen Jetta Tdi Wagon 4-door 1.9l on 2040-cars

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Icon goes Derelict on a 1967 VW Bus

Jonathan Ward and Icon have an eye for the little details in everything they make, and that's especially true of the company's Derelict projects. This time they are turning their attention to the '67 Volkswagen Bus. The van might look a little tired at first, but Icon gives the VW a complete makeover to keep it on the road for decades to come. Ward's client for this build had owned VW Buses before but wanted to have a truly usable one. Making that harder, she requested that the final result remain true to the essence of these classic vans. To do that, Icon let the exterior remain almost entirely stock, except for a few minor additions like the roof rack, tent, and a 110-volt outlet hidden at the back. The interior was kept looking original too, but the builders installed custom walnut cabinets and a load of modern upgrades, including air conditioning. The air-cooled boxer engine was also dumped in favor of a 2.0-liter four-cylinder sourced from a Jetta. To really understand just how much is changed, let Ward take you on a complete tour of the overhauled, vintage VW in this clip to show off all of his team's impressive work. Related Video:

Volkswagen Group names Paefgen head of classics program

You may remember the name Franz-Josef Paefgen. Until recently, the German engineer and executive was head of both Bentley and Bugatti. Before that he was chief executive of Audi, after working for several years at Ford. He technically "retired" earlier this year, but like the cars he helped create, an executive like Paefgen could never really retire. So it should come as little surprise that the Volkswagen Group has named Dr. Paefgen head of its Classic program.
In his new capacity, Paefgen will oversee the historic automobile activities of the entire VW Group, including those of Volkswagen, Seat, Skoda, Audi, Lamborghini, and of course Bentley and Bugatti. It strikes us as a suitable semi-retirement for the man responsible in no small part for the Bugatti Veyron and Bentley Mulsanne, to name just two, and who was decorated in 2006 by the ACO as the "Spirit of Le Mans" for his contribution to endurance racing. Read the official announcement after the break.

If VW defaults on loans it may sell Bentley or Lamborghini

If something goes catastrophically wrong with Volkswagen Group's recent $21 billion loan, brands like Bentley or Lamborghini could hit the auction block. According to two insiders to Reuters, the beleaguered German automaker agrees with its creditors to sell assets if the company somehow can't pay back the debt in a year. One of these anonymous people claimed the company hasn't yet deliberated over what to sell. However, the sources were willing to speculate that the power engineering portion of Man could be among the first to go. "Volkswagen may also consider divesting luxury car brands Bentley and Lamborghini or motor bike brand Ducati, although these units don't really move the needle," an insider said to Reuters. VW Group negotiated with the banks earlier this week to get the massive loan. The cash is necessary as a buffer in case the automaker doesn't have enough money on hand to repair vehicles or settle upcoming fines. VW would reportedly issue bonds in the spring to begin paying the debt. The company's bills will start racking up quickly in the new year. German authorities mandate a recall there in early 2016, and repair campaigns in the US for the 2.0- and 3.0-liter diesel engines are inevitable. There are also hundreds of class-action lawsuits to settle. The company needs to resolve its CO2 emissions scandal in Europe, too. In response to these financial threats, VW management created a cost-cutting plan to slash the research and development budget by $1.1 billion next year.