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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.

The pre-race and first in-race report from Le Mans

The 2013, 90th anniversary edition of the 24 Hours of Le Mans has begun, tragedy marking the opening laps with the death of Allan Simonsen. We're at the track now as a guest of Audi and plan to stay through the evening, and even we haven't been able to find out what caused the accident - the only video is from just after the incident, and beyond the statement from ACO there's been no more news. The Aston Martin in the LM GTE Am class and its all-Danish drivers had taken pole in its class and was one of the favorites to win.
The pre-race report will come first, and even thought we can't spoil the race because we're only five hours into it at the time of writing, we'll put all of the news at the end in case you don't even want the updates.
Or you can go straight to the high-res galleries above.

Audi's next S7 spotted sporting Prologue-inspired nose

Our spy photographers caught the next-generation S7 testing at the Nurburgring, and this newest version, while still retaining the S7's hatchback profile, updates it with design cues from the Prologue concept. The front is the most distinctly updated part of the car, and pulls the most from the concept. The grille has been widened and given more defined corners that exaggerate the hexagonal shape. The headlights have been slimmed down and are more in line with the grille. These changes give the front of the new S7 a lower, wider look than its predecessor. Speaking of grilles, we also spot a heat exchanger tucked inside the grille opening on the left corner. We're not sure if this is an intercooler, an additional radiator or perhaps an oil cooler, but clearly something needed a bit more airflow. We don't really have any indications of what powertrain the new version will have, but it will probably have a higher output than the current 450-horsepower S7. Moving around to the back, the much-loved arching hatchback profile drops to a revised tail. The taillights, like the headlights, are more slender than they used to be, and they also appear to have been stretched closer to the center of the rear fascia. The base of the hatchback opening appears to have been widened as well. This doesn't have much of an effect on style, but it should make it easier to load cargo into the S7 and its stablemates. As for when we'll see this new hatch revealed, we're not sure. But this prototype looks close to production-ready, so we could see a debut soon, perhaps sometime next year. Related Video: Featured Gallery 2018 Audi S7 spy photos View 19 Photos Image Credit: CarPix Spy Photos Audi Hatchback Luxury Performance audi s7