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VW to pay $1B in settlement with US government over V6 diesels

Volkswagen and the US government have come to a settlement for the civil claims against the automaker's 3.0-liter, diesel V6s. Over 83,000 V6 TDI-powered models are currently prowling US roads in violation of emissions laws. The settlement allows VW to recall over 75 percent of its cheating V6 diesels – about 63,000 units – and bring them into compliance. These represent newer VW Touaregs, Audi A6, A7, A8, Q5, and Q7s, and Porsche Cayennes built between 2013 and 2016. According to the company, the recall will bring these so-called Generation Two engines up to emissions specs, provided the EPA and CARB okay the modifications. Should the regulators say no to VW's tweaks, the company will buy back or terminate leases with the affected owners. For older V6 TDIs built between 2009 and 2012, Volkswagen will do broadly the same thing, only in reverse. It will lead with buy backs of older Touaregs and Q7s – the only vehicles the company sold with the earlier engines – but could offer fixes if EPA/CARB give the okay. As part of its agreement over the emissions-cheating V6s, Volkswagen will contribute $225 million to the "environmental remediation trust" it established as part of its settlement over cheating 2.0-liter TDIs. VW is also on the hook for $25 million with CARB, bringing the total for the six-cylinder part of its emissions cheating scandal to around $1 billion, Automotive News reports. This initial agreement still needs approval from US District Court Judge Charles Breyer. Related Video:

Former Porsche CEO Wiedeking indicted over VW takeover bid

Do you recall the failed efforts by Porsche to take over Volkswagen? According to a Bloomberg report, former Porsche CEO Wendelin Wiedeking (above) and ex-CFO Holger Haerter have finally been charged with market manipulation over the exercising of options as part of the German sportscar manufacturer's ill-fated attempt to take over the much larger VW. That failed bid eventually resulted in the reverse coming true - VW swallowing Porsche.
The charges leveled by Stuttgart prosecutors come after a three-year investigation centered around allegations that Porsche execs made a concerted effort to increase the company's share in VW to 75 percent in preparation for a hostile takeover. Porsche had previously told its investors on at least five occasions that it had no intention to buy VW.
Portions of the investigation have subsided, according to prosecutors, citing an inability to prove certain improprieties with a "necessary degree of certainty." The number of charges is down to 5 from a previous 14 counts regarding "information-based market manipulation."

The dream of the '90s is alive in Porsche 968 retro review

Only a month after Porsche confirmed that the next-generation Boxster and Cayman will get four-cylinder engines, it is apt that we have a MotorWeek retro review of the 1992 Porsche 968. Porsche hoped the 968 – nee 944 – and its naturally-aspirated, 3.0-liter, four-cylinder would revive sales of its entry-level line, but that didn't happen: going on sale in 1992, 1995 was its last year on the market. This was at a time when a stock 968 coupe cost $39,850, surpassing the out-the-door price of a loaded Chevrolet Corvette. The 968 convertible cost $51,000. That didn't stop MotorWeek's unanimous support of the 968, praising its design, the delivery of its 236 horsepower and 225 pound-feet of torque, and its handling - MotorWeek called it "Pure 90s performance," in spite of some fiddly switchgear and a noisy, firm ride. You can watch the review above. We have a feeling Porsche's four-cylinder fortunes will go much better this time around.