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VW's Winterkorn to stick around through at least 2018

Volkswagen may yet to have found a new chairman, but it's not about to get rid of its chief executive any time soon. The German automaker has announced its intention to renew Martin Winterkorn's contract through the end of 2018. That is, assuming that the Supervisory Board heeds the recommendation of its own Executive Committee when the full 20-member board meets on September 25. 68-year-old Winterkorn joined the Volkswagen Group back in 1993 after a decade and a half at Bosch. He was named head of Audi in 2002, and chairman of the Board of Management (effectively the chief executive officer) of the entire Volkswagen Group in 2007. Just a few months ago he faced off against Ferdinand Piech – chairman of the company's supervisory board and grandson of Ferdinand Porsche – that resulted in Winterkorn's victory and Piech's resignation. The executive committee's endorsement, then, is effectively a vote of confidence in Winterkorn's leadership. It still leaves unresolved the question of who will ultimately take over as chairman to succeed Piech. Winterkorn was touted for a potential promotion, but if the supervisory board renews his contract – currently set to expire next year – he'll be staying right where he is and a new chairman will need to be found. The chair is currently filled on an interim basis by Berthold Huber, former head of the union that was instrumental in Piech's ousting. Wolfsburg, 02 September 2015 Resolution of the Executive Committee of the Volkswagen AG Supervisory Board The Executive Committee of the Supervisory Board of Volkswagen AG unanimously agreed a resolution for submission to the Supervisory Board at its meeting on September 25, 2015 under which a new contract as Chairman of the Board of Management of Volkswagen AG for a term until December 31, 2018 should be concluded with Professor Dr. Martin Winterkorn. "Together with Professor Martin Winterkorn at the helm we will continue on our successful path of recent years and systematically implement the goals of Strategy 2018", Berthold Huber, Chairman of the Supervisory Board of Volkswagen AG, said.

Volkswagen Scirocco GTS set for Shanghai reveal

Though we still can't get one over here, buyers in other markets can get the Scirocco in an array of trim levels. And at the Shanghai Motor Show this month, Volkswagen is introducing another. The new Scirocco GTS slots between the base models and the R performance version. Reviving the spirit of the original introduced more than 30 years ago and picking up where the last model left off, the new GTS splits the Scirocco lineup the way the GTI fits into the Golf range. It even packs the GTI's engine: a 2.0-liter turbo four with 210 hp, mated to either a six-speed manual or DSG. The GTS also packs standard 18-inch (or optional 19-inch wheels), a further departure from the R-Line aero kit and racing stripes running up the top. The interior is similarly upgraded with special trim, a golf-ball shifter (on manual versions) and more. All of this makes the Scirocco an even more tempting proposition – if only we could get our hands on one. Wolfsburg/Shanghai, 16 April 2015 Comeback of a GT icon: World premiere of the 220 PS Scirocco GTS in Shanghai - Exclusive GTS trim with new 18-inch alloy wheels - Scirocco GTS* has a new generation of infotainment equipment on board as standard Ten key facts about the Scirocco GTS*: 1. The new Scirocco GTS makes its debut as a separate and especially sporty GT version 2. 220 PS Scirocco GTS has a top speed of 246 km/h and accelerates from 0 to 100 km/h in 6.5 seconds 3. Individualised exterior with new 18-inch alloy wheels and optional GTS decor (decor standard in China) 4. Red brake callipers as an identifying feature 5. Exclusive GTS interior with black trim features, red stitching and the legendary golf ball gear knob 6. Included as standard: the "Composition Colour", from the latest generation of infotainment systems 7. Modular infotainment matrix (MIB II) available for all Scirocco models from the end of May 8. The Scirocco GTS can also be ordered with an extremely quick-shifting 6-speed DSG gearbox as an option 9. The spirit of the first Scirocco GTS (which made its debut in 1982) was carried forward into the year 2015 in the new GTS 10. With over a million sold, the Scirocco is one of the most successful sports cars in the world Some cars live for ever because they are constantly reinvented. The Scirocco, a pure-bred European sports car, is one of these cars that is forever young. Presented at the Geneva Motor Show in March 41 years ago, it became an icon of compact German coupes.

Average transaction prices climb to a record $36,270 in January

The automotive sector made a hash of the numbers last month, a mess of pluses and minuses clogging the transaction-price charts according to Kelley Blue Book. The overall industry rose one percent, even though buyers bought fewer cars and light vehicles in January 2018 vs 2017 using the selling-day adjusted rate. Due to January transaction prices rising to $36,270, a record for January, the value of new vehicles sold climbed more than $1 billion compared to January 2017. KBB's transaction prices don't include customer incentives, which changes the complexion slightly; average incentive spending rose to just over ten percent. The average transaction price in December 2017 was $36,756, so January dropped a bit - nothing unexpected, with the month annually blamed for "January doldrums." More revealing is the fact that the average transaction price in January 2017 was $34,910. This year's plumped-up figure came courtesy of the continued shift to crossovers, SUVs, and light trucks, which shouldn't surprise anyone who's read an automotive blog in the past 20 years. That category comprised nearly 70 percent of new vehicle sales for the month. Some manufacturers profited more than others, though. Fiat Chrysler managed 12.8 percent fewer sales in January compared year-on-year, but the company's vehicles sold for $1,300 more. The Ford brand suffered a 6.3-percent dip in sales, but brand transaction prices increased $2,000, while a Lincoln sold for $8,700 more on average. General Motors sold more cars and sold them for more money; overall GM transaction prices rose four percent, or $1,270, while a GMC traded hands for seven-percent more than in January 2017 and a Cadillac got $2,300 more on average. Of KBB's listed automakers, the Volkswagen Group got the most of out its customers, transaction prices rising at the German automaker by 5.6 percent to $42,243 in January 2018 compared to a year earlier. American Honda followed with a 4.3-percent increase to $28,991, GM in third at 4.1 percent to $40,313. Find your next car at Autoblog using our new and used car listings or the Car Finder tool. Broken out by segment, minivans rocked the table, transaction prices leaping by 7.9 percent to $35,380 compared to January a year earlier. Luxury cars boasted the next-highest rise, at 3.6 percent to $58,533.