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Volkswagen forced to sell stake in Suzuki

The six-year-long failed marriage between Volkswagen and Suzuki has finally come to an end. Almost. An arbitration panel in London issued its final verdict which, according to a VW press release, cleared Suzuki in terminating the agreement, so VW now needs to get rid of its 19.9-percent share. However, the tribunal's decision said VW performed all of its obligations and Suzuki didn't – the Japanese carmaker should have given VW last-call rights for a delivery of diesel engines, but failed to. The breach opens Suzuki up to damage claim, but so far VW only says it reserves the right to sue. Now that Suzuki has an outside investor to provide funds it meant to get from VW, perhaps both can get back to their reasons for being. The press release is below. Ruling in arbitration proceedings: Cooperation between Volkswagen and Suzuki deemed terminated - Arbitral tribunal confirms Volkswagen met contractual obligations and finds that Suzuki has ordinary right to terminate agreement based on reasonable notice - Volkswagen to dispose of its 19.9 percent stake in Suzuki and expects positive effect on Company's earnings and liquidity from transaction - Arbitrators also find that Suzuki breached its contractual obligations to Volkswagen under the agreement and that Volkswagen has right to claim damages Wolfsburg, 30 August 2015 - An arbitral tribunal in London has announced its ruling in the dispute between Suzuki Motor Corporation and Volkswagen Aktiengesellschaft. As a result, cooperation between the two parties is deemed terminated. The arbitrators confirmed that Volkswagen met its contractual obligations under the cooperation agreement and found that Suzuki has terminated the agreement upon reasonable notice. Volkswagen will therefore now dispose of its 19.9 percent stake in Suzuki and expects a positive effect on the Company's earnings and liquidity from the transaction. The arbitral tribunal also confirmed that Suzuki breached its contractual obligations to Volkswagen under the agreement and that Volkswagen has the right to claim damages. "We welcome the clarity created by this ruling. The tribunal rejected Suzuki's claims of breach and found that Volkswagen met its contractual obligations under the cooperation agreement. Nevertheless, the arbitrators found that termination of the cooperation agreement by Suzuki on reasonable notice was valid, and that Volkswagen must dispose of the shares purchased.

Dodge Demon 170 reveal experience, Supercharging a non-Tesla and the BMW XM | Autoblog Podcast #774

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Road Test Editor Zac Palmer. They start off with what it was like to be at the reveal for the 2023 Dodge Challenger SRT Demon 170 out in Las Vegas. From there, they explore news of the 2024 Acura Integra Type S being revealed to have 5 more horsepower than the Civic Type R. And to round out the news section, there's an Explorer EV out, but it's only for Europe. After that, the two discuss the cars they've been driving, including the 2023 BMW XM, VW Jetta Sport with a manual transmission, our long-term Toyota Sienna minivan and what it was like to charge our long-term Kia EV6 on a Tesla Supercharger. Lastly, the pair spend some money to help a listener buy a car for their daughter who is just starting to drive. Autoblog Podcast # 774 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown News Dodge reveals the Challenger SRT Demon 170 in Las Vegas The Acura Integra Type S will officially have 320 horsepower Electric Ford Explorer revealed in Europe What we're driving 2023 BMW XM 2023 VW Jetta Sport Supercharger experience with long-term Kia EV6 Long-term 2023 Toyota Sienna Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: 2023 Dodge Challenger SRT Demon 170 reveal

VW Golf GTD wagon makes us swoon ahead of Geneva reveal

The European market is just crammed with power wagons we can't get our hands on: big ones like the Audi RS6 Avant and Jaguar XFR-S Sportbrake, but also little ones like the new Mercedes CLA45 AMG Shooting Brake, Skoda Octavia RS and Seat Leon ST Cupra. Now there'll be one more, and as you might have guessed, it comes from the Volkswagen Group. At the upcoming Geneva Motor Show, VW will present the new Golf GTD Variant. And if you're wondering what it's all about, it's all right there in the name: those three letters tell us it's a performance diesel, and the Variant name tells us it's a wagon (which we'd more readily recognize as the SportWagen on this side of the Atlantic). So there you have it: a performance-oriented diesel wagon, but not one we're never likely to see on American roads. If you ever did see one up close, though, you'd find a 2.0-liter turbodiesel four under the hood with 181 horsepower and 280 pound-feet of torque – enough to send this nimble oil tanker to 62 in 7.9 seconds, all the while returning over 53 miles per gallon (on the lenient European cycle, anyway). Along with the engine, VW has thrown in other GTD performance-minded bits, including a sports suspension and progressive steering. Visual telltales include unique front and rear bumpers, grilles, 17-inch alloys, blacked-out roof rails, smoked taillight lenses and an interior with plaid sports seats, stainless steel pedals... the works. European buyers will be able to enjoy all this and more while hauling all their stuff down the Autobahn, passing gas station after gas station in oil-burning bliss. World premiere of the new Golf GTD Variant - The perfect all-round package: sporty, economical, comfortable and spacious - Launch set for Geneva Motor Show Since 1982 Volkswagen's GTD logo has stood for Gran Turismo Diesel, with its promise of sporty yet economical motoring. Now for the first time, the GTD initials grace the Golf Variant, which like the Golf GTD, boasts the 184 PS (135 kW) TDI engine. The new Golf GTD Variant is set for its world premiere at the Geneva Motor Show, and is available to order as of now at a price of 31,975 euros. The Golf GTD Variant* is excellently placed to establish itself as an iconic long-distance cruiser.