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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.

Porsche recalling 24,500 Panameras for a potential HVAC coolant pump issue

A possible coolant pump problem for the HVAC system is causing Porsche to recall 24,467 units of the Panamera from the 2017 to 2020 model years. Bentley's recalling 650 examples of the sibling 2020 Continental GT for the same issue. Porsche was notified of a malfunction in the external heat pump for the Panamera's climate control in December 2022. An automaker investigation found that it's possible for excess humidity or even liquid to get past the pump seals and short out the pump's circuit board and connector. In rare instances, the malfunction could cause a fire. This can happen even when the engine is turned off because the cars in question are equipped with a residual heat function that keeps warming the cabin after shutdown. Panameras built after July 26, 2021 were fitted with a different pump. The Stuttgart carmaker's field analysis showed "a very small number of instances of thermal damage possibly attributable to this issue." Bentley changed the part in July 2019 to a model with a pressure compensation seal. Porsche said it will begin notifying owners on March 27. It also said it will reimburse any Panamera owners who have paid to have the part fixed previous to this recall. The fix is a trip to the dealer for a new pump with better sealing, sourced from a new supplier. Bentley will begin notifying owners on the same day. In Bentley's case, though, the automaker says "A hardware change will be required but the final solution is currently under investigation and cannot be confirmed at this time." Since the automaker moved to a new pump that isn't part of the recall population, we aren't sure why a resolution remains under investigation. Porsche owners can contact Porsche customer service at 800-767-7243 and refer to internal recall number APA1. Bentley owners can call 800-777-6923 and refer to RE23/02 (RC67). Anyone in that group can go straight to the National Highway Transportation Safety Administration at 888-327-4236 (TTY 1-800-424-9153) or nhtsa.gov, citing campaign number 23V033 for the Panamera or 23V034 for the Bentley. Related video:

The 10 car brands most expensive to maintain over 10 years

Car maintenance has got to be one of the least fun things you can do with your free time, right behind going to the dentist and filing your taxes. However, depending on the brand you buy, your time spent at the shop could be much more than you bargained for. Consumer Reports’ new study on the most- and least-expensive-to-maintain car brands found that European car companies are most likely to break your wallet with costs nearly five times that of the automakers at the other end of the spectrum. Land Rover had the highest ten-year maintenance costs, at an average of $19,250. Porsche was second worst with $14,090 in costs. 10 car brands most expensive to maintain over 10 years: Land Rover: $19,250 Porsche: $14,090 Mercedes-Benz: $10,525 Audi: $9,890 BMW: $9,500 Volvo: $9,285 Infiniti: $8,500 Acura: $7,800 Mini: $7,625 Subaru: $7,200 The Euro brands at the “top” of this list arenÂ’t all that surprising. Land Rover has consistently landed as one of the most expensive vehicle brands to maintain for years now, though Porsche is generally viewed as being one of the more solid performance brands. That could suggest that some models donÂ’t always require more repairs, but the fixes they do need are significantly more expensive. Tesla, Buick, and Toyota were the three cheapest to maintain car brands, with 10-year maintenance costs of $4,035, $4,900, and $4,900, respectively. Consumer Reports noted that these numbers could be slightly skewed due to the fact that some automakers offer free maintenance for the first few years of ownership, and all companies cover their new vehicles for at least a few years after the purchase. Routine maintenance is a great way to avoid costly repairs over time, as itÂ’s much cheaper to catch a problem before it starts causing other issues. Check your oil, rotate your tires, and avoid driving like a wild person, and youÂ’ll likely fare much better than others, even if you own one of the scarier-to-maintain brands.