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Volkswagen might cut 40 models across brands to save cash

Volkswagen once set out to pass Toyota and General Motors and become the largest automaker in the world. Following months of fallout from the diesel emissions scandal, the manufacturer is rumored to be dropping around 40 models from its company-wide lineup. According to German business and finance publication Handelsblatt, the Volkswagen Group is looking to slim down and remove a number of low-volume vehicles from various lineups. The company currently sells around 340 models across brands that include Audi, Lamborghini, and Bentley. Volkswagen is refusing to comment, but Handelsblatt claims to have sources within the company. Last week, Volkswagen Group CEO Matthias Muller announced a new strategy for the company that includes a major focus on electric vehicles and new technology services. During his announcement, Muller said the company would be cutting a number of models, but at the time no numbers, models, or brands were discussed. Despite comments to the contrary, rumors have persisted since late last year that Volkswagen was looking to sell commercial truck and bus manufacturer MAN. Volkswagen owns truck and bus manufacturer Scania, so even if it dropped MAN, the company would still have a foothold within the bus and truck market. There is also talk of the company selling Italian motorcycle manufacturer Ducati, which Volkswagen acquired via Audi in 2012. The company's image has taken a huge hit in the wake of the diesel scandal. Volkswagen has set aside cash in order to pay fines and may be looking to sell these several subsidiaries and cut low-volume models in order offset the costs. Despite the scandal, the company led worldwide sales in the first quarter of 2016. The same was true in 2015, but sales tanked at the end of the year following the diesel revelations. Related Video: Rumormill Audi Bentley Volkswagen Ducati

The Bentley Mulsanne exits the stage as production ends

Bentley is done with the Mulsanne. The one you’re looking at here is the penultimate car to come out of the factory in Crewe, Cheshire, England. Apparently, the owner of the last one is rather secretive and wants to keep their car under wraps. That being the case, Bentley has surrounded this Tungsten and Rose Gold Mulsanne with all the pomp and circumstance one would expect from the end of an era at Bentley. At least, as much as the pandemic will allow. Bentley employees are pictured here next to the car, standing apart with masks on. ItÂ’s one of the Mulsanne 6.75 Edition cars Bentley previously announced, which the company limited to just 30 units. The end of the Mulsanne also means the end of the 6.75-liter V8 at Bentley. We gave that engine its own sendoff post, but needless to say, the engine series is an old one and can be traced back to 1959. BentleyÂ’s Mulsanne is much less old. This flagship sedan was introduced at Pebble Beach in 2009, and has been in production ever since. Bentley has given it a couple rounds of updates, with the addition of the faster Mulsanne Speed in 2015, along with a design and tech refresh in 2016. Bentley built just over 7,300 total Mulsannes, and itÂ’s released a few eye-popping production stats. In the end, about 700 people were part of the production process to build the Mulsanne, putting in nearly 3 million total hours. Over a million total hours have been spent creating the interiors, and nearly 90,000 hours have been spent polishing the cars.  “I am immensely proud of the hundreds of designers, engineers and craftspeople that brought the Mulsanne to life over the last 10 years,” said Adrian Hallmark, Bentley CEO. “Now, as we begin BentleyÂ’s journey to define the future of sustainable luxury mobility through our Beyond100 strategy, the role of Bentley flagship is passed to the new Flying Spur.” ThatÂ’s right, the Flying Spur is the new flagship for the time being. Though, the latest rumors point to Bentley making a gigantic SUV as its future flagship vehicle to properly replace the Mulsanne. Is anybody surprised? Related video:

Bentley says 'emotional sensitivity' slowed sales in 2023

LONDON — British luxury carmaker Bentley on Tuesday reported a lower operating profit for 2023 after a weak economy and high interest rates hit sales, but the company said its performance had stabilized and new launches would boost it in 2024. "We had an uneven performance for the first time in about four years," CEO Adrian Hallmark told reporters. "Even though our customers can still afford our cars... there was a level of emotional sensitivity that slowed down demand." For those who leased rather than bought cars with a starting pre-tax price above 220,000 euros ($238,590), interest rates had led to a tripling in monthly fees last year, Hallmark said. He said the launch of four high-performance hybrids this year should spur sales as the company gears up to launch its first fully electric Bentley in 2026. Bentley is aiming for an all-electric model lineup by 2030, but Hallmark said its hybrids were likely to be on sale after that deadline as the company seeks to ensure a return on its substantial investment. The luxury automaker in January reported an 11% drop in sales for 2023 following a record year in 2022. The British luxury unit of Volkswagen posted an operating profit of 589 million pounds ($748 million) for 2023, down nearly 17% from 708 million pounds in 2022. Revenue was down 13% at 2.94 billion pounds from a year earlier and the company said its profit margin dropped to 20.1% from 20.9% in 2022 because of investments in new vehicles. Earnings/Financials Green Bentley Luxury