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Winterkorn remains CEO of Volkswagen's majority shareholder

Martin Winterkorn may have stepped down as the chief executive of Volkswagen in the wake of the diesel emissions scandal, but he's not out from under the company's large umbrella just yet. In fact, according to a report from Reuters, he still holds four top-level positions not only within the industrial giant's bureaucracy, but at the top of it. And one of those is as CEO of the company's largest shareholder. That holding company is Porsche SE, the investment arm of the Piech and Porsche families (Ferdinand Porsche's descendants) which holds over 50 percent of VW's shares. In 2008, Porsche SE acquired majority interest in the Volkswagen Group which in turn acquired Porsche the automaker – and placed VW's Winterkorn at the head of the executive board of the holding company. Though Winterkorn has resigned from his position as chairman of VW's management board, he has apparently yet to step down from running Porsche SE. That's not the only job that Winterkorn still retains in VW's senior management. He also continues to serve as chairman of Audi, as well as truck manufacturer Scania, and the new Truck & Bus GmbH into which Scania has been grouped together with Man. It remains unclear if or when Winterkorn might resign from those positions as well, or how his tenure in those posts might affect the company's effort to start over in the aftermath of the scandal in which it is currently embroiled. Also unclear, Reuters reports, is how much, exactly, Winterkorn will receive in compensation after having stepped down from his chair at the head of the VW executive board. His pension is reported at over $30 million, but he could be awarded a large severance package as well amounting to as much as two years' worth of his annual compensation, which amounted to around $18 million last year. Whether he receives the severance pay or not is expected to depend on whether his resignation is considered by the supervisory board to have been the result of his own missteps or independent of the situation that resulted in his resignation. One way or another, he's not likely to go poor anytime soon.

Where to watch and follow the 24 Hours of Le Mans this year

In less than 24 hours the flag will drop on Audi's title defense at the 24 Hours of Le Mans, Toyota's best ever chance to win and Porsche's return to le grand defi. The Le Mans organizers have kept as au courant with broadcast options as they have with power unit technology, so you'll be able to find a place to watch or listen no matter what your preferred method. Friend-of-Autoblog Reilly Brennan has again put together an exhaustive "couch kit" of viewing options, which you can check out at his site. Here's the short list: Le Mans Site Le Mans TV Le Mans Facebook page Le Mans Twitter page FIA WEC Live timing Audi Sport stream Corvette Racing stream Nissan NISMO stream Entry list and grid Spotter's Guide You can watch or listen to the excellent Radio Le Mans, app, Autosport will have hourly updates and a live blog, the ACO has a Le Mans app. Fox will broadcast the event over a combination of Fox Sports 1, 2 and its Fox Sports Go App from 8:30 EST Saturday morning until 9:30 am EST Monday morning. Hit up Reilly Brennan's site for even more options and details like Eurosport and Daily Motion, and good watching – this should be a spectacular race. News Source: Reilly Brennan Motorsports Audi Porsche Toyota

Audi to spend $17 billion to fight BMW

It's no secret that VW Group, parent company to not only Volkswagen but also Audi, Bugatti, Bentley, Lamborghini, Porsche and Ducati brands sold in the US, is determined to become the world's largest automaker. Even more impressive is that VW is prepared to spend billions to make it happen.
With that comes word that VW Group will be spending $17 billion on its Audi brand over the next three years to push itself above rival BMW. The money will be invested in both vehicle development (including lightweight auto design and alternative powertrains) and facilities (including expansion in Hungary, China and new operations in Mexico). The luxury brand is focused on global manufacturing infrastructure.
Already Europe's best-selling luxury brand, Audi's objective is to overtake BMW by the end of the decade by selling more than two million cars per year (BMW is shooting for 1.54 million sales in 2013). If those objectives are met, VW Group should be on track to be the industry's volume leader by 2018.