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VW CEO under fire after emissions scandal, stock slide

Pressure piled on the head of Volkswagen on Monday in the wake of an emissions-testing scandal that's seen around 15 billion euros ($16.9 billion) wiped off the company's market value. Following revelations that the German carmaker had rigged US emissions tests for about 500,000 diesel cars, VW CEO Martin Winterkorn apologized Sunday for the fact that his company had "broken the trust of our customers and the public." But saying sorry wasn't enough for investors as they digested the financial and reputational implications of the scandal on the world's biggest carmaker by sales – in mid-afternoon trading in Frankfurt, Volkswagen's share price was down a stunning 17.8 percent at a near three-year low of 132.15 euros. Earlier it had tumbled by more than 20 percent. In the wake of Friday's revelations from the US's Environmental Protection Agency, VW has already halted sales of some vehicles in the US and pledged to cooperate with regulators in an investigation that could, in theory, see the company fined up to $18 billion. Industry analysts said the VW CEO faces difficult questions in the coming days, particularly when the company's board is scheduled to meet Friday. "At the moment, I'd be surprised if Winterkorn can ride this out." - Christian Stadler "At the moment, I'd be surprised if Winterkorn can ride this out, but in Germany there's often a slightly slower process in these matters," said Christian Stadler, a professor of strategic management at Warwick Business School who researches the car industry. Stadler said that if VW were a US company, then the CEO would have gone more or less immediately. In essence, Volkswagen stands accused of skirting the US's clean air rules. The EPA said VW used a device programmed to detect when the cars are undergoing official emissions testing. The software device then turns off the emissions controls during normal driving situations, allowing the cars to emit more than the legal limit of pollutants. Guido Reinking, a German auto expert, said that for a company to engage in such blatant trickery the company's top executives would have to be informed. Winterkorn, an engineer by training, led research and development across the VW group from 2007. He became chairman of the management board the same year. "It's almost impossible to imagine that he didn't know about this special way of programming the engine," Reinking told German television station n-tv.

VW confirms development of 10-speed dual clutch, 134-hp/liter diesel

Each year, the Vienna International Motor Symposium showcases some of the up-and-coming technologies automakers are engineering for the use in passenger cars, and Volkswagen AG CEO Martin Winterkorn revealed some big developments VW is working on for its future products. Winterkorn discussed a multi-faceted approach that VW is looking to reduce its fleet fuel consumption and exhaust emissions.
Some of the bigger news he discussed included a "high-performance" diesel engine that will produce 134 horsepower per liter and a 10-speed DSG automatic transmission. While no specific applications were mentioned, we can only hope this is for the Audi R4 we keep hearing about.
Another topic he touched on that caused us to perk up our ears was had to do with VW's plug-in hybrid technology. While we know the PHEV versions of the Audi A3 and Porsche Panamera are on the way, Winterkorn also said that these two models will be followed up by Golf, Passat, Audi A6 and Porsche Cayenne plug-in models. Scroll down for a press release highlighting the automaker's future fuel-saving initiatives.

2015 Volkswagen Jetta TDI

Volkswagen calls its 2015 Jetta "refined, redesigned," and countless man-hours have gone into its re-engineering, but you'd need to crawl all over the car, unbolt most of the body, drive it or spend some time on VW's website to fathom the changes. That's why we wrote, "2015 Volkswagen Jetta is new, we promise," when we first saw the car in New York last April. While we wait for a sweeping next-generation overhaul to come, the marquee elements for now are the new structure underneath designed to win an IIHS Top Safety Pick+ rating, fuel economy increases and a heavily reworked 2.0 TDI diesel engine. Plus, there's ornamental detailing around the body and updated interior, and the revamped trim package and accessories matrix promises to provide more value. That makes it a better buy than the 2014 model, assuming it can find buyers ready to appreciate the subtleties. Outside, improved aerodynamic prowess is the primary goal, and almost all of the visual refresh works to further that aim. A new grille with three cross fins sits atop a slipperier bumper and air intakes. On models with the 1.8T gas engine and new 2.0 TDI diesel, the grille is fitted with a shutter to decrease drag and, on the diesel, speed up the engine warming. There are sleeker rain gutters inside the A-pillars and paneling under the body by the rear axles. Attending to airflow in back is an altered decklid reshaped with an integrated spoiler. Among the other changes are optional adaptive bi-Xenon headlights lined with 15 LED running lights and a chrome strip of brightwork. New fog lights are set in the flanks of the lower lip, and LED taillights can be had on the GLI and Hybrid models, with a tweaked VW logo sitting in between. The illuminating upgrades continue inside with ambient lighting and a crisper dash cluster display. Those cabin changes are joined by an optional "tunnel" theme for the gauges, a new steering wheel design with piano black accents and chrome, redesigned vent controls and new fabric options. Changes to the front substructure from the bumper to the front doors, and strengthened A-pillars combined to win the 2015 sedan a Top Safety Pick+ rating from the Insurance Institute for Highway Safety. We're here to focus on the diesel model, and the updated EA288 2.0 TDI engine and its modular packaging is the most visceral highlight for 2015, inserting new numbers on every line of the spec sheet compared to its predecessor, save for cylinder bore spacing.