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German automakers' stocks fall as EU investigates collusion

BERLIN/FRANKFURT - Volkswagen will hold a special supervisory board meeting on Wednesday to discuss allegations that German carmakers operated a wide-ranging cartel, a source familiar with the matter said on Monday. The European Commission said on Saturday antitrust regulators were investigating a possible German auto industry cartel following a tipoff. At stake is whether carmakers VW, Audi, Porsche, Mercedes and BMW used German auto industry committees to discuss pricing of components and technologies, and whether such talks constituted anti-competitive behavior. A VW spokesman confirmed an extraordinary supervisory board meeting would be held on Wednesday but declined to give details. German auto stocks took a hit in early trading on Monday, weighed down by uncertainty over possible antitrust fines after European regulators said they were probing cartel allegations. VW shares were down 2.8 percent, with Daimler and BMW down 3.4 percent and 2.5 percent respectively, lagging the blue-chip DAX index, which was 0.7 percent lower. Exane BNP Paribas automotive analyst Stuart Pearson said little was known about the allegations, but no signs had emerged about fixing prices charged to consumers. "More ugly details could yet emerge, leaving German manufacturers - and the EU auto sector - still firmly in the sin bin for now," he added. The car industry has been hit with billion-euro fines on both sides of the Atlantic in recent years for cartels related to various parts such as lighting systems, engine coolers and bearings. The industry's record on exhaust emissions is also under close scrutiny after VW admitted in September 2015 to cheating U.S. diesel emissions tests and investigations have shown many vehicles exceeding pollution limits outside of testing labs. On Friday, German magazine Der Spiegel said VW, its Audi and Porsche brands, Mercedes-owner Daimler and BMW may have colluded to fix prices on components, including of diesel emissions treatment systems, using industry committees. Spiegel said the talks also led to the use of smaller tanks containing AdBlue, a urea-based liquid needed to help filter nitrogen oxides (NOx) from diesel emissions. Larger tanks would have been more expensive, the magazine said. Auto industry experts, however, have said the effectiveness of exhaust filtering systems does not depend on the size of an AdBlue Tank. BMW, for example, has equipped its cars with urea injection as well as a NOx-storage catalytic converter.

Best and worst car brands of 2022 according to Consumer Reports

It's that time again, Consumer Reports this morning lifting the curtain on its 2022 Annual Car Brand rankings and its 10 Top Picks in the car, crossover, and truck category. Drumroll, please: This year, Subaru climbs two spots to claim the winner's circle, having come third the last two years. Last year, Mazda climbed three spots from 2020 to take the crown. This year, Mazda slipped to second, BMW taking the last spot on the podium, also a one-spot drop from 2021. Six automakers in the top 10 hailed from Japan, which is one more than last year, and five luxury makers occupied the top 10, which is two more than last year. And South Korean representation didn't crack the top this year, after Hyundai managed tenth last year. The seven makes after BMW are: Honda, Lexus, Audi, Porsche, Mini, Toyota, and Infiniti.  The magazine and testing concern says its Brand Report Card "[reveals] which automakers are producing the most well-performing, safe, and reliable vehicles based on CR’s independent testing and member surveys," and that "Brands that rise to the top tend to have the most consistent performance across their model lineups." The domestics also took steps back among the 32 OEMs ranked on the 2022 card. Chrysler and Buick were the domestic carmakers who made last year's top 10 in eighth and ninth, respectively. This year, Buick dropped to eleventh, Chrysler to thirteenth. Dodge went from fourteenth to sixteenth. CR continues to ding Tesla's yoke steerer, the not-exactly-natural handhold responsible for the electric carmaker going from sixteenth last year to twenty-third this year.

Refreshed 2016 Audi Q3 starts at $34,625

The Audi Q3 only arrived in the US for the 2015 model year, and for 2016 the compact luxury crossover is already getting a new front end, plus a bump in price to go with the facelift. The cost for the base Premium Plus trim with front-wheel drive is now $34,625, which includes the $925-destination charge on all models. That's $1,200 more than last year. For the extra money, customers get a resculpted front end that features harder angles in the chrome shield that outlines the grille. The piece now extends to connect to the reshaped headlights, and the air intakes in the bumper get a larger, more aggressive look. At the rear, the taillights also have a tweaked design. Buyers get to choose from new exterior colors, as well, including Hainan Blue, Utopia Blue, Misano Red, and Cuvee Silver. In addition to the revised styling, fore and aft parking sensors and a rearview camera are now among the standard features. The higher-spec Prestige trim now rings up for $39,525 in front-wheel drive form. It adds features like a standard 7-inch MMI navigation system, power tailgate, blind-spot monitoring, a 14-speaker Bose stereo, and full LED headlights. New powertrains are not among the list of changes for the Q3. All models still come with a 200-horsepower, 2.0-liter turbocharged four-cylinder that's hooked up to a six-speed automatic. Front- wheel drive is standard, but Quattro all-wheel drive is a $2,100-option on both trims. Audi announces pricing for the updated 2016 Q3 crossover June 03, 2015 | HERNDON, Virginia Compact crossover receives redesign of front lights, grille, and exterior fascia along with Alu-optic interior MMI controls and interior upgrades Front and rear parking sensors with rearview camera join wide array of standard equipment Full LED headlights and dynamic rear turn signals on Prestige trim Audi today announced pricing for the 2016 Q3. The redesigned compact crossover now boasts a wider array of standard features, including front and rear parking sensors with a rearview camera, as well as an updated dynamic exterior styling for a balance of luxury and functionality. 2016 Audi Q3 The 2016 Q3 boasts a refreshed exterior aesthetic, with redesigned front lights, grille, bumper, side sills and rear lights. The crossover is now offered with standard 18'' 5-arm turbine design wheels. Also available are 19" 5-double-spoke Offroad design wheels.