2005 Bentley Continental Gt 2dr Coupe on 2040-cars

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If VW defaults on loans it may sell Bentley or Lamborghini

If something goes catastrophically wrong with Volkswagen Group's recent $21 billion loan, brands like Bentley or Lamborghini could hit the auction block. According to two insiders to Reuters, the beleaguered German automaker agrees with its creditors to sell assets if the company somehow can't pay back the debt in a year. One of these anonymous people claimed the company hasn't yet deliberated over what to sell. However, the sources were willing to speculate that the power engineering portion of Man could be among the first to go. "Volkswagen may also consider divesting luxury car brands Bentley and Lamborghini or motor bike brand Ducati, although these units don't really move the needle," an insider said to Reuters. VW Group negotiated with the banks earlier this week to get the massive loan. The cash is necessary as a buffer in case the automaker doesn't have enough money on hand to repair vehicles or settle upcoming fines. VW would reportedly issue bonds in the spring to begin paying the debt. The company's bills will start racking up quickly in the new year. German authorities mandate a recall there in early 2016, and repair campaigns in the US for the 2.0- and 3.0-liter diesel engines are inevitable. There are also hundreds of class-action lawsuits to settle. The company needs to resolve its CO2 emissions scandal in Europe, too. In response to these financial threats, VW management created a cost-cutting plan to slash the research and development budget by $1.1 billion next year.

2024 Bentley Flying Spur and Continental GT upgraded with small luxuries

Incremental changes to three of Bentley's 2024 offerings are claimed to bring "harmony" to the Azure, S, and Speed trims across the model lineups. As a refresher, Azure signals the variants that go beyond Bentley's traditional obsessive luxury to cater to wellbeing and comfort. The S and Speed are all about performance. Starting with the 2024 Continental GT and 2024 GTC Azure, the duo look to the Bentayga Extended Wheelbase Azure for a front fascia revision. These include wearing a new "vertical vane grille" that places "bright chrome vertical vanes in front of a black mesh grille." Those are Bentley's words describing what are effectively two grilles. Only one can be seen from afar, though. Down below, the Flying Spur Azure donates its wheel design, the 22-inch, 10-spoke black painted and machined hoop becoming the standard fit for both Continentals. Inside, the 2+2 models upgrade to a new lofted quilting pattern for the leather, and even more sybaritic deep-pile, 100% wool, Wilton overmat carpets. On the Speed side, their grille changes from vertical vanes to a matrix mesh harking back to pre-war models like the Bentley Blower. Exterior jewelry such as the grille surrounds and inserts, and the brightwork along the lower doors, can be optioned in Granite Grey. This will make the Blackline package look even meaner. And opening the doors reveals a new diamond-in-diamond stitch pattern for the cabin leather.  For the all Bentleys, the new exterior color Topaz Blue joins a palette that is already effectively infinite. Inside, the dark tint aluminum technical finish first seen on the Bentayga comes to the instrument panel and waistrails of the Flying Spur and Continental GT, the finish being an abstract representation of the crosshatched lines from the matrix grille. Finally, the nylon carpeting underneath the floor mats will be made from 100% recycled nylon instead of virgin nylon.

Matthias Muller officially named VW Group CEO

While the vast number of rumors made it seem like a foregone conclusion, Porsche boss Matthias Muller has officially been named Volkswagen Group CEO to replace the recently resigned Martin Winterkorn. His contract runs through the end of February 2020, and until a replacement is found, Muller also gets to hang onto his old job as chairman of Porsche. At the same time, the VW Group Supervisory Board is announcing a massive structural reorganization across the entire company, with the new management model in place by the beginning of 2016. Contrary to previous rumors, Michael Horn remains as President and CEO of VW Group of America. The board wants a greater emphasis on brands and regions going forward, and the scale of this shift can be seen in the US. On November 1, VW Group business in the US, Mexico, and Canada is being combined under the leadership of current Skoda chairman Winfried Vahland. However contrary to previous rumors, Michael Horn remains as President and CEO of VW Group of America. Other brands are also seeing some significant changes mechanically. Porsche, Bentley, and Bugatti now fall under the Group's "sportscar and mid-engine toolkit." This means that the brands will start sharing standardized technical parts. A Chief Technical Officer across all of the company's brands will also start working toward future innovations. The new brand-centric view means the end of a group-wide production department. "Going forward, the brands and regions will also have greater independence with regard to production. So it follows that they should also hold the responsibility for these activities," Berthold Huber, interim Chairman of the Supervisory Board, said in the announcement. In a statement with the press release about his promotion, Muller promised to turn the company around after such an international crisis. He said: "My most urgent task is to win back trust for the Volkswagen Group – by leaving no stone unturned and with maximum transparency, as well as drawing the right conclusions from the current situation. Under my leadership, Volkswagen will do everything it can to develop and implement the most stringent compliance and governance standards in our industry." Matthias Muller appointed CEO of the Volkswagen Group Muller remains Chairman of Porsche AG until a successor has been found Matthias Muller (62) has been appointed CEO of Volkswagen AG with immediate effect.