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VW makes $23K on every Porsche sold, more than Bentley or Lamborghini

It's a good time to be in the luxury car business. In Volkswagen Group's financial report for the 2013 fiscal year, it is revealed that that Porsche enjoyed an operating margin of 18 percent. That means the Stuttgart brand made on average about $23,200 per car sold, according to BusinessWeek. Bentley wasn't far behind, and Audi (which was combined with Lamborghini) posted a 10.1 percent margin. This compares to only around 2.9 percent for the Volkswagen brand.
"Luxury brands are on fire," said Dave Sullivan, an industry analyst at AutoPacific. He said that the average profit margin is between six and eight percent. Brands like Porsche and Bentley have the benefit of competing in rarefied markets. Buyers looking at one their vehicles have fewer models to shop against and don't care as much about price. They can also charge more for options, which further boosts income, according to BusinessWeek.
In a way, we should be more impressed by the continued success from Audi. Its models generally have direct competitors in every segment from the other premium automakers. Plus, their buyers aren't the captains of industry who are shopping for a Bentley. Still, the Four Rings is leading rivals in sales so far this year.

Volkswagen Passat gets classier styling, tech updates for 2016

Volkswagen revealed a snazzier-looking, better-equipped version of the Passat Monday evening, which will start at $23,260 when it goes on sale as a 2016 model late this fall. The refresh updates VW's midsize sedan, though the changes are mostly evolutionary, and they come as Volkswagen is mired in scandal following charges it cheated on EPA tests. The design features a new hood, grille, rear bumpers, and front fenders. It's also the first VW sedan to offer LED head- and taillights as an option, and the 2016 version is the first Passat to get an R-Line package, which includes black accents, 19-inch aluminum alloy wheels, and a custom front bumper. "We applied a progressive design strategy with the new Passat, giving the car a dynamic presence and a more sophisticated look," Klaus Bischoff, Volkswagen head of design, said in a statement. "We have integrated several new design elements, including a sculpted, domed hood that significantly sets the car apart from its predecessor." Inside, the cabin gets nicer materials, including chrome and piano-black trim, a new steering wheel, and available heated rear seats. VW's second-generation modular infotainment platform is standard, and it offers swiping and pinch-to-zoom features on most models. Volkswagen's Car-Net system is also available, which allows for smoother smartphone integration. The powertrain lineup carries over and is made up of the 1.8-liter turbo four-cylinder, 2.0-liter turbo diesel, and a 3.6-liter V6. It's unclear if the TDI model will be offered at launch in light of VW's recent diesel scandal. VOLKSWAGEN UNVEILS NEW 2016 PASSAT WITH STRIKING DESIGN, INNOVATIVE TECHNOLOGY AND ENHANCED VALUE The Chattanooga-built Passat raises the bar in the midsize segment, offering new styling inside and out as well as a host of new connectivity and driver assistance features • Striking new front and rear design • New interior with updated instrument panel and center stack for a more premium feel • Standard MIB II infotainment system includes USB connectivity • Available VW Car-Net® App-Connect supports smartphone integration with Apple CarPlay®, Android Auto™ and MirrorLink® • Energy-efficient LED headlights and taillights available for the first time on a VW sedan • New driver assistance systems are standard features on select trim levels • First-ever R-Line® trim for U.S.

Volkswagen Group Chairman Ferdinand Piech resigns

Ferdinand Piech, Volkswagen Group's chairman of the supervisory board, has resigned from the company. His wife, Ursula, has also left her position on the board. A statement put out by VW in German said the move was due to the fact that "mutual trust is no longer present," and the board's deputy chairman, Berthold Huber, will be interim chairman. It's been just two weeks since Ferdinand Piech told Germany's Der Spiegel magazine that he didn't want Group CEO Martin Winterkorn to become the next chairman and that he was keeping the CEO at a distance. That public comment surprised just about everyone, and led to a meeting in Piech's office in Austria. The leadership committee supported Winterkorn, and that was backed up by official, pro-Winterkorn messages from VW labor leaders and the German state of Lower Saxony. After that meeting, Piech agreed to support Winterkorn in public, but it was widely suspected that the fight wasn't over. Now it might be. This is not a changing, but rather an explosion of the guard. Piech lived for VW, and he and his Porsche kin still have a 51-percent stake in the Volkswagen Group. Frankly, we have a feeling that this still isn't over. The official statement from VW in English is below. Statement of the Executive Committee of the Supervisory Board of Volkswagen AG Wolfsburg, 25 April 2015 -- The Executive Committee of the Supervisory Board of Volkswagen AG discussed again today in detail the situation of the Volkswagen Group. 1.: The members of the Executive Committee have unanimously determined that in view of the background of the last weeks the mutual trust necessary for successful cooperation no longer exists. 2.: For this reason Professor Dr. Ferdinand K. Piech has resigned with immediate effect from his position as Chairman of the Supervisory Board and from all his mandates as a Supervisory Board member within the Volkswagen Group. In addition, Ms. Ursula Piech has resigned with immediate effect from all her Supervisory Board mandates within the Volkswagen Group. 3.: The position of Chairman of the Supervisory Board will be temporarily assumed by the Deputy Chairman Berthold Huber. Mr. Berthold Huber will chair both the Supervisory Board meeting on May 4 as well as the Annual General Meeting on May 5, 2015. 4.: Under the chair of Mr. Berthold Huber the representatives of shareholders and employees will in close cooperation determine the candidate for the new Chairman of the Supervisory Board.