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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 reveals updated RS7 Sportback in Europe

It was just a couple of weeks ago that Audi revealed a few mild updates to its A7. It even ported those changes over to the warmed-up S7 performance version. All that was missing was the full-steam RS7, and that's precisely what we have here.
Now before you get all excited, note that the new RS7 packs the same powertrain as the model it succeeds, but then again, the existing RS7 hardly lacked in the power department. The 4.0-liter twin-turbo V8 still churns out 560 horsepower and 516 pound-feet of torque, transmitted to all four wheels through an eight-speed automatic. Revealed initially for the European market (with US details presumably to follow), the 0-62 kilometers per hour time is quoted at 3.9 seconds, so the 0-60 mph time ought to match the 3.7 seconds of the preceding model.
What has changed are the subtle tweaks Audi has made to the exterior and equipment upgrades inside. The grille now features has a horizontal section at the bottom with the Quattro logo emblazoned across like all other recently revised RS models, flanked by new headlights (Matrix LED units for the European market). Inside the cabin the air-con vents and shift paddles have been reshaped, and the new MMI system ports over from the new A7 and S7 with 4G LTE connectivity and a Bang & Olufsen sound system.

2013 Audi S3

Coming Soon To Our Shores With Two More Doors And A Trunk
The Audi S3 is not exactly a sales juggernaut, despite it being a bit of a legend for passionate fans of the small German premium genre. In most markets outside of Europe, people may consider such setups as the S3 three-door tested here, look at the price, and then think maybe they should just get a nice A4 sedan with greater practicality for similar cash. That certainly has been one reason Audi has never officially brought the S3 hatchback to the United States. And the 335-horsepower RS3 Sportback? Forget about it nearly everywhere but in Germanic regions, Switzerland and the UK.
All of which automatically turns the new S3 hatchback into an unattainable object of desire for many fans of the four-ringed brand. The good news, of course, for many markets not on the three-door or S3's dance card is that most of us will get a shot at buying the new S3 sedan that will be powered by the same drivetrain tested here. We reported heavily on the sedan version from the recent New York Auto Show and are convinced that there is much for North American shoppers to like.