1978 Vw Beetle Convertible on 2040-cars

Auto blog

Final Volkswagen Eos to leave the plant in May

Volkswagen has made no secret of its plans to wind down production of the Eos hardtop convertible, and the automaker has already celebrated the model's retirement in the US with the Final Edition (pictured above). However, the company now has an actual time for that end to come. The final Eos rolls off the line from the VW factory in Portugal in May, according to Germany's Automobilwoche, and European customers have until March 27 to get any final orders in. The company has no plans to offer a successor, it previously indicated. After about nine years of production and some 230,000 made, the Eos proved to be a success, at least in its home market of Germany. A VW spokesperson told Automobilwoche it was the country's bestselling hardtop convertible at one point, but customer preferences have changed toward preferring soft-top models. That switch spelled doom for the Eos. Drivers who want some wind in their hair still have some choices in the VW lineup. The Beetle Convertible remains on sale in the US, and Europeans also get the droptop Golf. Featured Gallery 2015 Volkswagen Eos Final Edition: Quick Spin View 18 Photos News Source: AutomobilwocheImage Credit: Copyright 2015 Jonathon Ramsey / AOL Plants/Manufacturing Volkswagen Convertible portugal

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.

Giorgetto Giugiaro launching new design firm

Giorgetto Giugiaro may have sold his remaining shares in the Italdesign firm he started, but he's not about to retire from the business altogether. According to an interview with Automotive News Europe, he's starting a new design consultancy. And he's taking his son, Fabrizio, with him. After working for established design houses Bertone and Ghia, the celebrated designer founded Italdesign Giugiaro in 1968. In 2010 he and his son Fabrizio sold 90.1 percent of the firm to the Volkswagen Group, with Fabrizio initially carrying on as its chief designer before Wolfgang Egger replaced him. Just months ago, the Giugiaros sold their remaining stake and resigned their seats on the board of Italdesign. The move came hot on the heels of the departure of ousted board chairman Ferdinand Piech, a longtime friend of Giorgetto's and the driving force behind VW's acquisition of Italdesign. Just because they're no longer affiliated with Italdesign Giugiaro doesn't mean, however, that the Giugiaros won't be designing cars anymore. They're reportedly working on establishing a new design house, and are discussing potential contracts with unnamed Chinese and South Korean automakers. The father-son pair could set up shop in a refurbished existing location (as the pragmatic Fabrizio favors) or build a new studio from the ground up (as the visionary father prefers). We'll have to hold on to see what direction the new firm takes, but most of all, we'll be looking forward to seeing what designs it produces. News Source: Automotive News Europe - sub. req.Image Credit: Volkswagen Design/Style Hirings/Firings/Layoffs Volkswagen italdesign giugiaro Giorgetto Giugiaro