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Volkswagen Group launches Truck and Bus GmbH

Volkswagen is not only one of the largest automakers in the world – it's also one of the biggest producers of commercial vehicles. Not just vans like the Caddy and Crafter, but proper trucks and buses. And now it's reorganizing them all under the newly incorporated Truck & Bus GmbH. The new division brings VW's two truck manufacturers MAN and Scania under one roof. MAN is, after all, wholly owned by Volkswagen, and in turn holds over 75 percent of the shares in Scania (as well as MAN Latin America). Along with Volkswagen Commercial Vehicles, they make the Volkswagen Group one of the largest truck manufacturers in the world, behind Daimler and Volvo (the truck manufacturer is separate from the automaker). Although VW Commercial Vehicles will apparently not form part of Truck & Bus GmbH (since it makes smaller vans more than trucks and buses), it will also report to Andreas Renschler, the Volkswagen board member in charge of the company's work vehicle operations. Renschler previously served in a similar role at Daimler. In a bit of a reversal – or a sign of things to come – Volkswagen CEO Martin Winterkorn (who just survived a failed overthrow attempt by ousted chairman Ferdinand Piech) will sit as chair of the supervisory board of Truck & Bus GmbH. Wolfsburg, 05 May 2015 Volkswagen creates integrated commercial vehicles group • Truck & Bus GmbH to become holding for commercial vehicle brands • Prof. Martin Winterkorn: "MAN and Scania will together become global champion" • Board Member for Commercial Vehicles Andreas Renschler: "MAN and Scania brands retain their independence" • Works Council Chairman Bernd Osterloh: "The holding strengthens employees' participation rights" Volkswagen is creating the integrated commercial vehicles group and thus putting in place a structured framework for business with mid-sized and heavy trucks and buses. Truck & Bus GmbH is to become the new Volkswagen Group holding for the MAN und Scania commercial vehicle brands. This was decided yesterday (Monday) by the Supervisory Board of Volkswagen AG. To this end, the shares in Scania AB held by Volkswagen AG will be transferred to Truck & Bus GmbH. The wholly-owned Volkswagen subsidiary already holds 75.28 percent of the voting rights in MAN SE. Truck & Bus GmbH will establish processes specific to the commercial vehicles business, thus leveraging the full synergy potential between the brands.

VW will reportedly offer cash to cheated diesel car drivers

If you're feeling burned by Volkswagen's decision to cheat on diesel emissions tests, you might get some compensation for your troubles. Sources for The Truth About Cars understand that VW will launch a "TDI Goodwill Program" that compensates diesel car drivers with cash in the form of prepaid cards. In the US, you'd get both a $500 universal card as well as a VW-only card worth $500 to $750. The automaker isn't confirming details just yet, but it tells the New York Times that it's planning an announcement on Monday. Dealers also tell the newspaper that they're aware of a program in the works, although they don't know the specifics. It may not include the expanded range of cars reportedly tainted by the scandal, though, since VW is denying claims that it cheated with some models. This isn't the only olive branch VW has been offering: it's been handing out deals to existing owners willing to hop into new vehicles, and there are more discounts than usual across the board. However, the goodwill effort would represent the first instance of VW directly compensating drivers who'd previously thought they were getting an eco-friendly machine. This isn't going to make up for years of unnecessary pollution, but it may represent the company's best hope of holding on to customers. This article by Jon Fingas originally ran on Engadget, the definitive guide to this connected life. ?> News Source: The Truth About Cars via The New York TimesImage Credit: Ralf Hirschberger/dpa via AP Earnings/Financials Green Audi Porsche Volkswagen Hatchback Wagon Diesel Vehicles Sedan vw diesel scandal compensation

Volkswagen Group Chairman Ferdinand Piech resigns

Ferdinand Piech, Volkswagen Group's chairman of the supervisory board, has resigned from the company. His wife, Ursula, has also left her position on the board. A statement put out by VW in German said the move was due to the fact that "mutual trust is no longer present," and the board's deputy chairman, Berthold Huber, will be interim chairman. It's been just two weeks since Ferdinand Piech told Germany's Der Spiegel magazine that he didn't want Group CEO Martin Winterkorn to become the next chairman and that he was keeping the CEO at a distance. That public comment surprised just about everyone, and led to a meeting in Piech's office in Austria. The leadership committee supported Winterkorn, and that was backed up by official, pro-Winterkorn messages from VW labor leaders and the German state of Lower Saxony. After that meeting, Piech agreed to support Winterkorn in public, but it was widely suspected that the fight wasn't over. Now it might be. This is not a changing, but rather an explosion of the guard. Piech lived for VW, and he and his Porsche kin still have a 51-percent stake in the Volkswagen Group. Frankly, we have a feeling that this still isn't over. The official statement from VW in English is below. Statement of the Executive Committee of the Supervisory Board of Volkswagen AG Wolfsburg, 25 April 2015 -- The Executive Committee of the Supervisory Board of Volkswagen AG discussed again today in detail the situation of the Volkswagen Group. 1.: The members of the Executive Committee have unanimously determined that in view of the background of the last weeks the mutual trust necessary for successful cooperation no longer exists. 2.: For this reason Professor Dr. Ferdinand K. Piech has resigned with immediate effect from his position as Chairman of the Supervisory Board and from all his mandates as a Supervisory Board member within the Volkswagen Group. In addition, Ms. Ursula Piech has resigned with immediate effect from all her Supervisory Board mandates within the Volkswagen Group. 3.: The position of Chairman of the Supervisory Board will be temporarily assumed by the Deputy Chairman Berthold Huber. Mr. Berthold Huber will chair both the Supervisory Board meeting on May 4 as well as the Annual General Meeting on May 5, 2015. 4.: Under the chair of Mr. Berthold Huber the representatives of shareholders and employees will in close cooperation determine the candidate for the new Chairman of the Supervisory Board.