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VW takes world sales crown from Toyota for first half of 2015

Despite uncertainty in major markets like Russia and China, Volkswagen is wearing the global sales crown for the first half of the year to overtake Toyota. Through the first six months of 2015, VW sold 5.04 million vehicles, which only narrowly beat its Japanese rival's 5.02 million, Reuters reports. The half-year trophy also placed the German brand one step closer to the goal of being the world's largest automaker. VW can't just cruise through the second half of 2015 to continue wearing the crown, though. The company is a major player in China, and that might start to be a disadvantage soon. Auto demand there is expected to be weak for the rest of the year, which could mean dire effects for companies around the world. According to Reuters, the Western European market shows few signs of a sudden surge, either. To turn things around, VW is working on a massive realignment to be more responsive by organizing its 12 brands under four separate holding companies. One factor in VW's favor is that Toyota is facing its own sales struggles across the globe. In the last fiscal year, the Japanese automaker had growing profits but actual volume was down. At the time, the company predicted a drop to 8.9 million vehicles for the current fiscal period. According to Reuters, Toyota has had problems growing in emerging markets and dealing with higher taxes on small vehicles in Japan. For all of 2014, Toyota held the sales trophy with 10.23 million sales, and VW was in second place with 10.14 million. General Motors came in third with 9.92 million. The year was the first time that VW or Toyota had ever surpassed 10 million vehicles over the stretch of a calendar. Related Video:

VW of America boss Horn was aware of diesel cheat 18 months ago

We're just going to make a prediction: Volkswagen of America boss Michael Horn's congressional testimony, slated to begin today, is not going to go well. Based on a written testimony submitted by Horn, the exec is expected to tell Congress he knew his company was violating emissions regulations at least 18 months before it actually came clean. "In the spring of 2014... I was told that there was a possible emissions non-compliance that could be remedied," Horn wrote, in testimony published on the US House of Representatives' website (PDF warning). "I was informed that EPA regulations included various penalties for non-compliance with the emissions standards and that the agencies can conduct engineering tests which could include 'defeat device' testing or analysis. I was also informed that the company engineers would work with the agencies to resolve the issue." Horn's written testimony went on to outline how the company will "develop a remedy for our customers." It includes five points, ranging from the "world-wide investigation" being conducted by the company to reassurances that VW's engineers are "working tirelessly" on fixes to the four-cylinder diesel problems. Horn went on to confirm that each generation of the affected diesel – there are three – will require its own distinct fix. Finally, Horn went on to say that the company will "examine our compliance, processes, and standards" to prevent a repeat of the diesel catastrophe, while promising "open communication with our customers, dealers, employees, and the public as we move forward." We've included Horn's complete, three-page written testimony below. Have a look. Testimony of Michael Horn, President and CEO of Volkswagen Group of America, Inc. Before the House Committee on Energy and Commerce Subcommittee on Oversight and Investigations October 8, 2015 Chairman Upton, Chairman Murphy, Ranking Member Pallone, Ranking Member DeGette, other Members of the Committee, thank you for inviting me to testify before the Committee today. My name is Michael Horn, and I am the President and CEO of Volkswagen Group of America, a subsidiary of Volkswagen AG, headquartered in Wolfsburg, Germany. I have volunteered to come before this Committee at the very outset of these inquiries in an effort to show our commitment to cooperation. We have not had the opportunity to review all aspects of this matter, indeed the investigation is just beginning.

VW Diesel Scandal Wrap-up: Time for bullet points

Here we go again. If you were not pegged to your RSS reader yesterday, scoping out all of the VW diesel scandal news, here's a brief rundown of what happened: Just how much extra pollution did VW's little problem cause in the US? New estimates suggest it's as bad as having an additional 19 million cars on the road, or "12,000 additional tons of nitrogen oxide pollutants per year." NOx can create smog and acid rain. The diesel scandal is also reshaping some online ads. Sponsored content in WIRED that talked about clean diesel has been taken down. The advertisement was a partnership between Volkswagen and the Wired Brand Lab and claimed to have, "created an experience that will inform, educate, surprise, and change the way you think about diesel." Canada says it might start up its own governmental investigation and that "enforcement action will be taken," if the automaker is found to have broken the law. The German government says it did not know about VW's subterfuge until recently, and is going to start a fact-finding process this week. It turns out that the first hints of this scandal were discovered by independent researchers in 2012 and 2013. Whatever happened, Renault-Nissan CEO Carlos Ghosn said that it's hard to hide something like this. Following CEO Martin Winterkorn's departure yesterday, speculation is running rampant to see who will replace him. Automotive News says it should be current Porsche CEO Matthias Mueller. Don't feel too bad for Winterkorn, though, as he's still likely to get his $32 million pension, Bloomberg says. Oh, and this isn't even the first time VW has tried to cheat the EPA. It's a problem in the auto industry. We'll see how many bullet points we have tomorrow. Government/Legal Green Volkswagen Emissions Diesel Vehicles vw diesel scandal martin winterkorn matthias mueller pension