1969 Vw Volkswagen Type 3 Fastback - Excellent Stock Car, Needs Engine Rebuild on 2040-cars

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VW's credit ratings could take a beating

In addition to a significant drop in its share price already, Volkswagen's diesel emissions scandal is continuing to have major financial repercussions on the German automaker. According to The Detroit News, credit rating agencies like Standard & Poor's and Moody's changed their forecasts on the company to negative, and Fitch has considered doing so, as well. Volkswagen appears to have the money to cover the costs of this ordeal, but the agencies question the effect that this has in the long term. "Moody's concern, however, is that Volkswagen's alleged breach of US environment rules and, especially, the process by which that breach occurred, will have an adverse effect on its reputation and credibility within the global passenger car markets," the company wrote in a note to investors, according to The Detroit News. VW has initially set aside $7.25 billion to fix things, but the potential shakeup of top executives has caused some investor uncertainty, too. The actual costs for VW to deal with this scandal are still unknown. In the US, the Department of Justice has begun a criminal investigation, and with other automakers the government has settled for $900 million against General Motors and $1.2 billion against Toyota. Attorneys general in 29 states have started looking deeper, according to The Detroit News, and regulators in Europe, South Korea, and Canada have commenced their own probes, as well. Related Video:

Jaguar Land Rover seeks to block U.S. imports of Porsche, Audi, Lamborghini, VW SUVs

You wouldn’t know it was about Jags and Lambos, to judge by its rather dry name: In the Matter of Certain Vehicle Control Systems. But thatÂ’s the complaint Jaguar Land Rover Automotive Plc filed on Thursday to block U.S. imports of Porsche, Lamborghini, Audi and Volkswagen sport utility vehicles it says are using its patented Terrain Response technology without permission. Jaguar Land Rover, a British carmaker owned by IndiaÂ’s Tata Motors Ltd., said in its filing with the U.S. International Trade Commission that the technology helps negotiate a “broad range of surfaces” and is a key feature in JaguarÂ’s F-Pace and Land Rover Discovery vehicles. “JLR seeks to protect itself and its United States operations from companies that have injected infringing products into the U.S. market that incorporate, without any license from JLR, technology developed by JLR and protected by its patent,” JaguarÂ’s lawyer, Matthew Moore, said in the filing. Representatives of Volkswagen didnÂ’t immediately respond to emails seeking comment on the complaint. Jaguar wants to block imports of PorscheÂ’s Cayenne; LamborghiniÂ’s Urus; AudiÂ’s Q8, Q7, Q5, A6 Allroad and e-tron vehicles; and VWÂ’s Tiguan vehicles. It said there are plenty of other luxury midsize SUV and compact crossover vehicles to meet consumer demand if the SUVs are banned from the U.S. Still, the premium Porsche and Audi lines provide much of the profit VW is using to fund its investments in technology for electric vehicles, autonomous vehicles and further innovations. In addition to the four brands, Volkswagen Group owns other upscale nameplates, including Bentley and Bugatti. The International Trade Commission is an independent, quasi-judicial agency that investigates complaints of unfair trade practices, like patent infringement. It canÂ’t award damages but does have the power to block products from entering the U.S. Owners of patents and trade secrets like it because it can work faster than the federal district courts -- the typical investigation is completed in 15 to 18 months. But Jaguar also filed patent lawsuits against the companies in federal courts in Delaware and New Jersey, seeking cash compensation for the use of the technology. Those cases are likely to be put on hold once the trade commission launches its investigation. The case is In the Matter of Certain Vehicle Control Systems, 337-3508, U.S. International Trade Commission (Washington).

Recharge Wrap-up: Audi's EV SUV to be built in Brussels, Mercedes-Benz to extend EV range

European Union Industry Commissioner Elzbieta Bienkowska is demanding that Volkswagen compensate owners of cars affected by the diesel emissions scandal. She says European customers should receive the same goodwill compensation as American drivers, whom VW is providing with $1,000 worth of recompense. "The issue of compensation goes beyond the difference in the legal setup between the US and the EU and plays a fundamental role in viewing VW as a responsible and trustworthy company," says Bienkowska in a letter to Volkswagen CEO Matthias Mueller. Bienkowska has also requested detailed data about the vehicles and "corrective measures" VW is planning. Read more from Automotive News Europe. Mercedes-Benz will equip its plug-in vehicles with higher-capacity batteries as it expands its electric model range. While the PHEVs it has released so far have electric driving ranges between 14 and 20 miles, better batteries should extend that range starting around model years 2018 or 2019. After releasing a slew of plug-ins by the end of next year, Mercedes-Benz development director Dr. Thomas Weber says, "The next-generation vehicle will overcome the 30-km to 50-km hurdle and then the next generation after that will be 80-100 km when they run as pure electric cars." Read more at Green Car Reports, or from Motoring. Audi will build its pure electric SUV at its plant in Brussels, Belgium. The batteries for the vehicle based on the Audi E-Tron Quattro concept (perhaps to be called the Q6) will also be built at the Brussels plant when production begins in 2018. With this announcement comes news that production of the A1 will shift from Brussels to Martorell, Spain, while Q3 production will move from Spain to Gyor Hungary. Audi says the Brussels facility will "become a key plant for electric mobility at the Volkswagen Group." Read more at Green Car Congress, or in the press release below. Audi production network: ready for electric mobility - Premium manufacturer to produce large series of electric cars in Brussels as of 2018 - New models for Martorell (Spain) and Gyor (Hungary) - Audi CEO Rupert Stadler: "We are increasing our efficiency and bundling key competencies" Audi is preparing its international production network for the mobility of the future. Large series production of the first purely electric driven SUV from Audi will begin at the site in Brussels in 2018. The plant will also produce its own batteries.