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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.

Audi rumored to buy Alfa Romeo, officials deny it

For more than two years, Volkswagen has been making public statements about its willingness to buy Alfa Romeo and quadruple the Italian brand's sales, and for just as long, Fiat CEO Sergio Marchionne has replied with some version of "Mr. Piëch, drop it." According to a report in Ward's Auto, all that jousting might be over: it claims that sources close to both Marchionne and Audi CEO Rupert Stadler admit that the two are in talks for Audi to buy not just Alfa Romeo, but a production plant in Italy. In fact, a final deal could possibly include partsmaker Magnetti Marelli.
Against that backdrop, a report by German news weekly Stern quotes a Fiat spokesmen as saying it doesn't comment on rumors and an Audi rep has said flatly that "There is no substance in the news." If a sale is being arranged, the timing would seem to point to how eager Fiat is to raise cash to complete its major initiatives. Even though Alfa Romeo continues to delay its return to the US, it just showed off the production version of the 4C at the Geneva Motor Show (shown above) and said that preferred Fiat dealerships here would get them. Then there's Alfa's recently concluded deal with Mazda to develop a roadster based on the next generation MX-5 Miata - a deal that would seem to help both the Italian and Japanese brands.
The monetary issues are troublesome, though. Fiat is taking a beating in the European market and its weak-kneed balance sheet is delaying gotta-have-it products like the Jeep Cherokee. Fiat has been talking to banks about getting money to buy the rest of Chrysler and those financial institutions have also raised issues about debt and cash reserves, and the nasty game of chess Fiat is playing with the United Auto Workers (and now the court system about the portion of Chrysler it doesn't own) could end up blowing another hole in Marchionne's plans. It is possible that this could finally have convinced Fiat to at least see how serious Audi's parent company, Volkswagen, is about buying Alfa Romeo. Or it could be just another rumor.

Audi's Q8 Concept previews a 2018 personal luxury crossover

Audi revealed the Q8 Concept here at the 2017 Detroit Auto Show, and it's just as we expected: a Q7 with frameless windows, an oversized grille, and a rakish "coupe-like" roofline. This concept is an exaggerated example of a vehicle that will almost certainly enter production to do battle with BMW's vanity luxury utility, the X6, and Mercedes-Benz's GLE Coupe. The coupe moniker doesn't really apply, despite the German automakers' best attempts to redefine the word, but otherwise the Q8 Concept delivers. It's two inches shorter overall than a contemporary Q7, on a similar wheelbase, so the basic proportions of the thing should make the jump to production. View 14 Photos The driveline is equally plausible: a plug-in hybrid setup pairing a 3.0-liter TFSI V6 with a 17.9-kWh lithium-ion battery. The concept's V6 hypothetically makes 333 horsepower and 368 lb-ft of torque, and a single electric motor integrated into the eight-speed automatic transmission adds 100 kW (134 hp) and 234 lb-ft of torque to the mix. Those numbers certainly make sense, considering the gas Q7 makes 333 hp (albeit with a supercharger) and the existing Q7 e-tron, which isn't sold here, pairs a 17.3-kWh battery with a diesel V6. Since this is a concept, production intent or no, the range numbers are also a little theoretical, but here's what Audi claims: a 60-mile EV range, and a total range of around 621 miles. Not shabby if you're taking a long road trip. The adaptive air suspension should also make it a comfortable one. Inside, this is a four-place vehicle; no third row, and no center rear seat, as is the trend with these things. The cabin is very clean and modern – typically Audi, although exaggerated a bit. Expect it to be toned down some for production, but this concept interior is a glimpse into the future. We'll have to wait until next year to see something closer to production-ready, but it's coming. Related Video: Related Gallery Audi Q8 Concept View 30 Photos Image Credit: Live photos copyright 2017 Drew Phillips / Autoblog Green Detroit Auto Show Audi Crossover SUV Concept Cars Future Vehicles Hybrid Original Video 2017 Detroit Auto Show