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VW could fight Uber Black with Porsche and Audi vehicles

Last week, the Volkswagen group dumped $300 million into Gett, a taxi hailing-cum-ride sharing app that's big outside of the US. Now, the company has revealed that it's pondering a rival to Uber Black by offering private drivers access to its higher-end vehicles. Details are scarce since it's a single line reference in a very long press release, but VW says that it's looking at a "special chauffeur service" that features "premium brands, such as Audi and Porsche." What that looks like in reality is anyone's guess, although the idea of getting ferried around in an Audi RS 7 does have some appeal. The deal with Gett will concentrate on getting Volkswagen cars into the hands of Gett's drivers with the promise of juicy discounts. For instance, the firm will offer a special package that'll bundle car insurance and servicing with the purchase price, which can be paid by a would-be operator in installments. It's a similar deal to the one that Uber offers would-be drivers, letting them buy cars from manufacturers like Volkswagen, Ford and Toyota at a discount. Uber, however, also lets prospective cabbies rent their vehicle on a monthly basis, thanks to a deal with Enterprise. Both of which will likely become more muscular now that Uber has a further $3.5 billion in its back pocket. The troubling fact for the auto industry is that people will still need cars, but it's likely that they won't need as many as they do right now. On-demand services and self-driving vehicles are, after all, intended to shuttle around cities like an ersatz taxi-cum-metro system rather than sitting in parking lots. The concepts of ownership that we currently hold dear (and the profits that car companies get from them) are likely to fade away in the next, say, fifty years time. As such, conglomerates like VW will have to reinvent themselves as both manufacturer and transport company in one. But these changes are never easy, especially when the biggest car firms have tons of baggage that slows down their progress. Many are still devoting time and resources to producing thousands of new cars with combustion engines that will be on the roads for years to come. Looming in the shadow, however, is the emissions scandal, with the financial and reputational penalties likely to be felt for years to come. Younger, more nimble rivals without legacy businesses, like Tesla, are working on mass-producing electric cars for mass-market prices.

Volkswagen reveals updated Sharan minivan for Europe

Volkswagen's experiment with rebadging Chrysler minivans as the Routan may not have gone so well for the German automaker in North America, but overseas it offers vans of its own. Even aside from the fullsize Crafter and Transporter vans sold by Volkswagen Commercial Vehicles, the passenger car division offers its own minivans like the Touran and the Sharan. Now it's revealed an updated version of the latter. The VW Sharan was first introduced back in 1995 and entered its second generation in 2009, built in Portugal alongside the Seat Alhambra and offering seating for seven in its five-door form. The new model looks largely the same as the existing one, but benefits from new taillights and a revised interior. But most of the upgrades are found under the skin. There's an array of turbocharged and direct-injected engines that are now up to 15 percent more efficient than those found in the existing model, with two gasoline engines ranging in output from 148 horsepower to 217, and three diesels producing 113, 148 and 181 hp. Along with the updated powertrain options, the revised Sharan also gets a host of new safety and convenience systems, including automatic post-collision braking, Front Assist with City Emergency Braking, Lane Assist, Adaptive Cruise Control, Park Assist and Blind Spot Monitor. Inside, the infotainment system has been upgraded as well. The updated Sharan arrives hot on the heels of the new Caddy released earlier this month and just in time for the 2015 Geneva Motor Show. Wolfsburg, 18 February 2015 Show premiere of the Sharan in Geneva - Even more technical highlights for the popular Volkswagen MPV - New TSI and TDI engines* are up to 15 per cent more fuel efficient Volkswagen is presenting the technically updated Sharan at the Geneva International Motor Show. Numerous new convenience and assistance systems make the family-friendly MPV one of the most advanced models in its segment. A wide range of infotainment systems also guarantees full connectivity to many smartphones and tablets. At the same time, the fuel economy of the petrol and diesel engines* was improved by up to 15 per cent. The updated Sharan will arrive on the German market this summer; advance sales begin in April. Along with the standard Automatic Post-Collision Braking System, which automatically initiates braking after a collision if the driver is no longer able to intervene, numerous optional assistance systems are available in the updated Sharan as well.

German judge 'inclined to dismiss' hedge fund lawsuit against Porsche

Last year, around two dozen investors, including hedge funds, leveled a 1.4 billion euro ($1.95 billion at the time) lawsuit against Porsche in connection with the automaker's attempted takeover of Volkswagen in 2008. The Stuttgart Regional Court dismissed the case. Around 19 of those plaintiffs are heading back to court to appeal the ruling and still hope to get 1.2 billion euros ($1.4 billion). However, according to one German judge, the chances for success aren't any better this time around. "On balance it's our view that we consider the lawsuit, or the appeal, to be unpromising for several reasons," Gerhard Ruf, a judge in Stuttgart, said to Reuters. "We are inclined to dismiss the case." The court's ruling on the appeal will be announced on March 26. The investors' case hinges on Porsche's strategy surrounding the botched takeover. The sports car maker said that it wasn't trying to control VW, when in fact it was. These hedge funds had bet against Volkswagen stock, but the share price surged when Porsche's plan inevitably came to light. Investors have sued the sports car company multiple times since then in attempts to recoup billions of dollars. However, none of the lawsuits have been successful, whether attempted in the US or Germany. Former Porsche CEO Wendelin Wiedeking and and CFO Holger Haerter might still stand trial for the alleged stock manipulation, though. News Source: ReutersImage Credit: Matthias Rietschel / AP Photo Government/Legal Porsche Volkswagen lawsuit hedge funds porsche lawsuit