2013 Volkswagen Passat Se Sedan 4-door 2.5l on 2040-cars

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Recall on VW diesels begins in January, Mueller claims

A recall on Volkswagen's diesel vehicles with cheating software has been inevitable since the scandal first came to light, but there has been little official word on a timeframe for the fix. The automaker's new CEO Matthias Muller has finally put a tentative date on repairs, though. "If all goes according to plan, we can start the recall in January. All the cars should be fixed by the end of 2016," Muller said to the Frankfurter Allgemeine Zeitung, Reuters reports. While this plan affects Europe, the timing for repairs in the US could be slightly different. The Environmental Protection Agency needs to test the fix first here to make sure that it brings the vehicles in line with emissions regulations. Before the scandal came to light publicly, VW already tried a software update, but the California Air Resources Board still found NOx levels to be too high. Some experts have speculated that whatever the automaker comes up with this time could affect performance and fuel economy. To make lemonade out of these very sour lemons, Muller is trying to position the scandal as a chance to change. "This crisis gives us an opportunity to overhaul Volkswagen's structures," the CEO said, according to Reuters. "We want to make the company slimmer, more decentralized and give the brands more responsibility." Still, the effects are definitely being felt inside the automaker. When addressing employees recently, Muller admitted the necessity of cutbacks and the likelihood of setting aside even more money to pay for international fines and settlements. "What isn't absolutely vital will be canceled or delayed," he said. Related Video:

EU formally questions French government assistance of Peugeot's finance arm

Recently, the finance arm of PSA/Peugeot-Citroën was in such debt trouble that it was pricing itself out of the car loan market. The rates it was paying to service its debt, which was rated one step above junk, were so high that it was forced to charge car-buying customers higher rates than they could find elsewhere. This was adding to Peugeot's already impressive woes by sending revenue out the door to competitors.
Two months ago a deal was worked out with the French government whereby the state would provide 7 billion euro ($9 billion USD) in bonds to guarantee the finance arm's loans. The French government could nominate someone to join the Peugeot board, Peugeot would guarantee more French jobs, and on top of that deal, other banks would provide non-guaranteed loans. The government would take no equity stake in the car company.
Although not yet finalized, the arrangement is meant to create some breathing room for Peugeot Finance to lower its interest rates for customers, and a government-nominated board member, Louis Gallois, was recently named to Peugeot's supervisory board. The arrangement was also openly questioned by at least three competitors: Ford, Renault - which is 15-percent owned by the French government after it received state aid - and the German state of Lower Saxony, itself a 15-percent shareholder in Volkswagen.

2016 VW Passat starts at $23,260

With the recent reveal of the 2016 Volkswagen Passat, VW has shown a refusal to let the company's diesel-emissions scandal keep it from launching updated models in the US. When the sheet came off, the company told us that the refreshed sedan would start at $23,260, after the $820 destination charge on all versions. Now, we're getting the pricing details for the entire revised lineup. On all but the very top model, buyers get a 1.8 TSI turbo four-cylinder with 170 horsepower and 184 pound-feet of torque and six-speed automatic transmission. The base Passat S offers that combo for the same price as last year, but VW claims $1,315 in extra equipment is now included, like a five-inch MIB II infotainment system and automatic post-collision braking system. An optional LED lighting package runs $1,245 on the S, but prices differ on other levels. Pricing has not been released for the 2016 Passat TDI. That model needs a fix for its emissions cheating software before it can be certified by the EPA, and go on sale. Jumping to the Passat R-Line for $24,975 gets buyers black accents on the front bumper, 19-inch wheels and a tweaked rear diffuser. Another $775 adds the R-Line comfort package with a power driver's seat, heated front chairs, leatherette upholstery, and heat for the exterior mirrors and washer nozzles. Paying $27,100 for the Passat SE includes amenities like 17-inch wheels, a sunroof, 6.3-inch MIB II system, and adaptive cruise control. In addition, there's the SE with Technology for $29,230 with a blind-spot monitoring, push-button start, rear-traffic alert, navigation, rain-sensing wipers, and an auto-dimming rearview mirror. The next step up is the SEL for $31,315 with a plethora of extra luxuries. It gets 18-inch wheels, an upgraded Fender stereo, Vienna leather seats, power front chairs, and a rear pass-through. Sitting at the top of the range is the SEL Premium for $35,090. This trim has even more tech, including lane departure warning with active steering, active blind-spot monitor, front and rear park-distance control, and parking steering assistant. The LED lights are standard, as well. Plus, for $37,655 buyers can get the V6 SEL Premium with a 3.6-liter VR6. It makes 280 hp and 258 lb-ft and is linked to a six-speed DSG. Getting the bigger engine also adds dual trapezoidal chrome exhaust tips and Hill Hold Control.