2006 Vw Beetle Convertible 91k Miles Leather Monsoon Stereo All Power With Extra on 2040-cars

Auto blog

VW's Winterkorn tells 20,000 staffers of big cost-cutting plans

During a gathering of 20,000 Volkswagen Group employees at company headquarters in Wolfsburg, Germany on Wednesday, CEO Martin Winterkorn dropped a bombshell. The boss stated that the automaker isn't operating efficiently enough and admitted the company needs to radically start cutting back to raise its profit margins. To right the ship, Winterkorn has proposed killing off less profitable models and spending less on research and development.
According to Reuters, Winterkorn wants to raise the VW brand's profit margin from about 2.9 percent in 2013 to a target of 6 percent. To make that possible, his plan amounts to increasing cost cutting until Volkswagen reaches about 5 billion euros ($6.7 billion) per year to get things back in order. "Over the short-term, we urgently need more efficiency and higher profit," the CEO said during his speech, according to Reuters.
However, Winterkorn can't make these decisions unilaterally. Volkswagen's works council also has a seat on the supervisory board to represent laborers, and it isn't likely to take the proposed cuts sitting down.

Bosch fuel pumps spark recall of 2015 Golf, GTI and Audi A3

A few weeks ago, BMW and Nissan both issued recalls for some of their vehicles to replace Bosch-supplied fuel pumps. The pumps had nickel plating that could flake off and cause a failure. Volkswagen Group is the latest automaker to be affected by the problem and has a campaign for the 2015 Audi A3, VW Golf and GTI. In total, 6,204 units of these models are in need of repair. The problem with the VW Group vehicles is identical to the previous recalls. It's possible for the pump's nickel plating to come off and cause increased friction. Eventually, this can result in the component's failure. According to documents from the National Highway Traffic Safety Administration (as a PDF, here), there are no reports of accidents or injuries from this issue in the VW Group models. Bosch spokesperson Linda Beckmeyer tells Autoblog that these vehicles don't all necessary share an identical fuel pump, but the parts all use the same plating process. The problem also prompted repairs of the 2014 Ford Escape several months ago, she indicated. When asked if the issue could prompt more campaigns, Beckmeyer said that she "can't speak to that" because automakers decide on the recalls. Owners should receive notice of the problem soon, but according to the NHTSA documentation, there currently aren't enough pumps to fix all of these vehicles. "Bosch is working closely with automakers regarding replacement parts," Beckmeyer said. When available, dealers will replace the components free of charge for affected customers. Related Video: RECALL Subject : Improper Plating may cause Fuel Pump to Fail Report Receipt Date: APR 17, 2015 NHTSA Campaign Number: 15V229000 Component(s): FUEL SYSTEM, GASOLINE Potential Number of Units Affected: 6,204 All Products Associated with this Recall Vehicle Make Model Model Year(s) AUDI A3 2015 VOLKSWAGEN GOLF 2015 VOLKSWAGEN GTI 2015 Details Manufacturer: Volkswagen Group of America, Inc. SUMMARY: Volkswagen Group of America, Inc. (Volkswagen) is recalling certain model year 2015 Volkswagen Golf, GTI, and Audi A3 vehicles. Improper nickel plating of components within the fuel pump may result in the fuel pump failing. CONSEQUENCE: If the fuel pump fails, the vehicle will not start, or if the engine is running, it will stop and the vehicle will stall, increasing the risk of a crash. REMEDY: Volkswagen will notify owners, and dealers will inspect the vehicles and replace any affected fuel pumps, free of charge.

VW's Winterkorn to stick around through at least 2018

Volkswagen may yet to have found a new chairman, but it's not about to get rid of its chief executive any time soon. The German automaker has announced its intention to renew Martin Winterkorn's contract through the end of 2018. That is, assuming that the Supervisory Board heeds the recommendation of its own Executive Committee when the full 20-member board meets on September 25. 68-year-old Winterkorn joined the Volkswagen Group back in 1993 after a decade and a half at Bosch. He was named head of Audi in 2002, and chairman of the Board of Management (effectively the chief executive officer) of the entire Volkswagen Group in 2007. Just a few months ago he faced off against Ferdinand Piech – chairman of the company's supervisory board and grandson of Ferdinand Porsche – that resulted in Winterkorn's victory and Piech's resignation. The executive committee's endorsement, then, is effectively a vote of confidence in Winterkorn's leadership. It still leaves unresolved the question of who will ultimately take over as chairman to succeed Piech. Winterkorn was touted for a potential promotion, but if the supervisory board renews his contract – currently set to expire next year – he'll be staying right where he is and a new chairman will need to be found. The chair is currently filled on an interim basis by Berthold Huber, former head of the union that was instrumental in Piech's ousting. Wolfsburg, 02 September 2015 Resolution of the Executive Committee of the Volkswagen AG Supervisory Board The Executive Committee of the Supervisory Board of Volkswagen AG unanimously agreed a resolution for submission to the Supervisory Board at its meeting on September 25, 2015 under which a new contract as Chairman of the Board of Management of Volkswagen AG for a term until December 31, 2018 should be concluded with Professor Dr. Martin Winterkorn. "Together with Professor Martin Winterkorn at the helm we will continue on our successful path of recent years and systematically implement the goals of Strategy 2018", Berthold Huber, Chairman of the Supervisory Board of Volkswagen AG, said.