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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.

Angry diesel owners joining lawsuits against Volkswagen [w/video]

Livid at the prospect of losing thousands of dollars from the value of their cars and performance from their diesel engines, many owners of Volkswagens are headed to court. A law firm with a track record of suing automakers has already filed three class-action lawsuits against the German automaker related to its emissions-cheating scandal and says a fourth one is on the way. The lawsuits, filed by national firm Hagens Berman, accuse Volkswagen Group of America of fraudulent concealment, false advertising, and violations of federal and state laws. Plaintiffs in all 50 states have joined the class-action suits, according to the firm. A spokesperson says there has been "an unprecedented response" since the first lawsuit was filed within hours of an announcement from federal regulators last Friday. The lawsuits accuse Volkswagen Group of America of fraudulent concealment, false advertising, and violations of federal and state laws. Diesel owners paid thousands more for their vehicles instead of their gasoline-powered counterparts because Volkswagen's diesel engines ostensibly offered both torque and fuel economy. Now affected car owners are faced with a double-whammy – the value of their cars has diminished with the news and the purported software fix that brings the cars in emissions compliance will likely lower their performance and gas mileage. "Hundreds of thousands of consumers put their trust in VW when they looked to its 'Clean Diesel' line for an efficient, environmentally conscious diesel option," said Steve Berman, managing partner. "But for years, VW cheated the system. Its TDI line of fast but 'good-for-the-environment' cars seemed too good to be true, and they were." In its latest court filing, Hagens Berman lawyers said that car owners believed their vehicles were in compliance with Environmental Protection Agency standards and that the cars would retain their operating characteristics throughout their useful lives. Another firm, Girard Gibbs, has also filed a lawsuit over the diesel deception. "These Volkswagen vehicles should never have been sold, and certainly should not have spent the past six years on American roads polluting our air," said Eric Gibbs, the lead attorney. "Not only does this kind of fraud harm consumers and the environment, it negatively impacts competition, which is what drives our free-market system.

South Korea to file criminal charges against VW exec

South Korea has tossed out Volkswagen's recall plans and is preparing to level criminal charges over its handling of the diesel emissions catastrophe, The Wall Street Journal reports. "Recall plans the company submitted to us earlier this month were insufficient and lacked key information, and thus are unacceptable," the South Korean Ministry of Environment said in a statement obtained by the WSJ. A ministry official hinted at the possibility of criminal charges earlier this month if VW's recall plan wasn't satisfactory, the Yonhap News Agency reports, and now it looks like it will actually follow through. According to the WSJ, South Korea has already ordered VW to recall 125,000 vehicles and slapped the automaker with a $12.3 million fine – one of the many countries to do so – but if it follows through with criminal charges against the company or its employees, it'd be among the earliest to so. Other countries, including the United States, are still exploring the possibility of criminal charges. Charges would likely come against both Audi Volkswagen Korea and its managing director, Johannes Thammer. It's not clear what the actual charge would be, but the WSJ claims Thammer could be facing up to five years in prison and a fine of 30 million won (around $24,700 at today's rates). For its part, VW officials in South Korea maintains that it is "doing its utmost to resolve the emissions issue" and that it plans to "offer further explanation" to authorities regarding its proposal for an emissions and fuel mileage fix in that country.