2008 Audi Rs4 Cabriolet Convertible 4.2l Quattro Awd on 2040-cars

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VW stock plummets as Euro markets open

The fallout from Volkswagen's installation of an emissions "defeat device" on nearly 500,000 diesel-fueled models in the US is already hitting the automaker hard on the German stock exchange. At one point, the share price plummeted 23 percent to erase the equivalent of $17.6 billion in value. Things eventually bounced back slightly to a still severe 19.23 percent loss, according to Bloomberg as of this writing. The scandal couldn't come at a worse time for chairman Martin Winterkorn. The VW supervisory board takes up the issue of renewing his contract on September 25, Bloomberg reports. If things get bad enough, the door could be open for a new boss to step in. Dealers in the US might start feeling the pain from this, as well. Affected 2015 VWs that are still at showrooms are now under a stop sale. Until the issue is straightened out, the Environmental Protection Agency isn't certifying the company's 2016 diesel models with the 2.0 TDI, either. The diesel emissions problem was first discovered by research from West Virginia University and the International Council on Clean Transportation. In some cases, the engines can produce 40 times more nitrogen oxides than allowed. The automaker could be on the hook for $18 billion in fines for the breach, but the actual figure is expected to be lower. In response, Winterkorn has issued a public apology and ordered an independent investigation into what happened. The EPA and California Air Resources Board have also been looking into the situation. This could become an international problem, though. According to The Detroit News, European authorities might begin similar inquires to check the automaker's diesel emissions there.

These are your top 10 worst-selling vehicles of 2012

Despite 2012 being the best year of auto sales this country has seen since 2007, not every vehicle got an equally large share of the sales pie. Some barely got a sliver, as evidenced by this year's list of the top 10 worst-selling vehicles of 2012. We've dug through sales data from every automaker to come up with this year's list and, like last year, we've set some parameters to ensure it includes legitimately bad-selling vehicles. The first parameter is a starting MSRP under $100,000, which automatically excludes what's parked in most one-percenters' garages. We're also excluding vehicles cancelled in 2012, even if they garnered sales through the end of the year while dealerships sold off remaining inventory. This includes models like the Mitsubishi Eclipse, Mercedes-Benz R-Class and last year's worst-seller, the Acura RL. Next, vehicles are considered as they are reported by the automaker, which means that, while sales of the Murano CrossCabriolet were probably low enough to make the list, because Nissan reports only one number for all Murano sales, it was excluded. Cadillac, however, reports sales of the Escalade EXT separately from the Escalade, hence its repeat appearance. Finally, there was the question of whether or not eligibility should be given to Suzuki vehicles, as the brand announced in November that it would end sales in the US as soon as its current inventory ran out. We decided Suzuki vehicles should be included as the brand was offering 2013 models at the time of the announcement, and as far as we can tell, inventory levels remained high enough to satisfy demand through the end of the year. Without further ado, below are the top 10 worst-selling vehicles of 2012. Top 10 Worst-Selling Vehicles of 2012 10. Volvo C30 MSRP: $25,500 Units Sold: 2,827 Last Year: – 9. BMW Z4 MSRP: $47,350 Units Sold: 2,751 Last Year: – 8. Audi TT MSRP: $39,545 Units Sold: 2,226 Last Year: – 7. Subaru Tribeca MSRP: $32,595 Units Sold: 2,075 Last Year: 10 6. Suzuki Equator MSRP: $19,449 Units Sold: 1,966 Last Year: 7 5. Cadillac Escalade EXT MSRP: $63,060 Units Sold: 1,934 Last Year: 6 4. Nissan GT-R MSRP: $96,820 Units Sold: 1,188 Last Year: – 3. Acura ZDX MSRP: $50,920 Units Sold: 775 Last Year: 4 2. Mitsubishi Lancer Sportback MSRP: $18,495 Units Sold: 702 Last Year: 3 1. Mitsubishi i-MiEV MSRP: $29,125 Units Sold: 588 Last Year: – Want a little more "worst-selling" data? Check out our list of the top 10 worst-selling vehicles of 2011.

Volkswagen profit jumps as it warns of a cooling auto market

FRANKFURT, Germany — Volkswagen says its profits jumped 44% in the third quarter thanks to a more profitable mix of vehicles in its lineup but warned that global car markets are slowing more than expected and lowered its forecast for annual sales. After-tax profit rose to $4.42 billion (3.98 billion euros) as revenues rose 11% to $68.27 billion (61.42 billion euros). The sales margin of 7.8% exceeded the goal of 6.5-7.5% as vehicles bringing higher profits took a larger share of sales. The Wolfsburg-based automaker pointed to the headwinds facing the industry by saying that it expects "vehicle markets will contract faster than previously anticipated in many regions of the world." It said sales would be "on a level" with last year's record of 10.8 million vehicles. Previously it had expected a slight increase. The company said its profits would be in the lower end of its forecast range. Global automakers are facing a slowdown in sales amid disputes over trade and from pressure in the European Union and China to develop and sell low-emission vehicles that require heavy investment in new technology. Ford and Renault have issued profit warnings in recent days, while Daimler, maker of Mercedes-Benz luxury cars, lost money in the second quarter and is expected to outline a cost-cutting strategy for investors on Nov. 14. Volkswagen is leading the push into electric vehicles in Europe by launching its ID.3 battery-powered compact car at prices it says will make zero local emission vehicles a mass phenomenon. The company was able to increase earnings in the quarter despite an 18% rise in spending on research and development.