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Giorgetto Giugiaro sells shares in legendary styling house to Audi

Giorgetto Giugiaro undoubtedly stands among the great automotive designers of the 20th century, having penned the original Volkswagen Golf and Delorean DMC-12, among countless others. However, the great stylist is now longer an employee or even an owner of the company that bears his name. According to Automotive News, Giugiaro and his son, Fabrizio, sold their remaining 9.9 percent of Italdesign Giugiaro to Audi on Sunday, June 28, and the two resigned from the business the following day. The news about this just came out, though. The exact reason that the two men left the company hasn't been made entirely clear. According to Automotive News, a statement said that Giorgetto Giugiaro went "to dedicate more time to his personal interests." Italdesign Giugiaro remains open and intends to keep growing, though, the same announcement asserts. After stints at Bertone and Ghia, Giugiaro founded Italdesign in 1968. He created some masterpieces there, including '70s wedges like Maserati Merak, Lotus Esprit, and much more. The 2000s weren't so kind and 90.1 percent of the company was sold to Volkswagen Group in 2010. Former Audi design boss Wolfgang Egger took over styling duties there in late 2013, but he only lasted for about a year, leaving in late 2014. Since the sale, Italdesign has continued to work, including with the Gea concept at the 2015 Geneva Motor Show and the very mean-looking Parcour in 2013. Giugiaro's designs are still highly prized, as well. On September 5, Bonhams is auctioning the Maserati Boomerang concept by him and expects to get around $4 million for it. The gallery above offers a few more examples of his and Italdesign's concepts for VW Group over the years.

Watch VW Group Night kick off the Frankfurt festivities

The Frankfurt Motor Show is Volkswagen's home affair. As a result, the whole of the automaker group makes a big splash, even before the show doors open. We'll be live from the Frankfurt floor starting early tomorrow morning, but tonight we're posted up in the stands at the always-entertaining Volkswagen Group Night. To give you a taste of what it's like to be there, we're going to be shooting some man-on-the-scenes video as the night progresses. Below you'll find videos of all the best that VW Group brands – Audi, Lamborghini, VW, the lot – have to offer, as quick as we can upload them. So, enjoy the Short Cut Videos you see here. And stay tuned as we add more to the tally, below. And, of course, be sure to check in on Autoblog early and often tomorrow, when we bring you official debuts of new production vehicles and concept cars, a ton of new video content, live image galleries, and lots more.Seat Leon Cross Sport Bentley Bentayga Lamborghini Huracan LP 610-4 Spyder Volkswagen Multivan PanAmerican Edition Bugatti Vision Gran Turismo Concept Audi E-Tron Quattro Concept Audi A4 Ducati Monster 1200 R Volkswagen Tiguan Skoda Superb Combi Porsche 911 Carrera S Coupe and Cabrio Volkswagen Tiguan GTE Porsche Mission E Concept Volkswagen Group Night Finale Green Frankfurt Motor Show Audi Bentley Bugatti Lamborghini Volkswagen SEAT Skoda Videos Original Video Frankfurt 2015

VW delays new Phaeton flagship sedan

The Bugatti Veyron was a crusade begun by former Volkswagen Group CEO Ferdinand Piech. Even though the old patriarch is no longer with the company and the astonishing coupe is rumored to have never made a cash profit, everyone understands why the car remained in the family and why a successor is on the way. The same can't be said for the VW Phaeton, another one of Piech's pursuits. Thirteen years after the budget brand introduced the now 89,650-euro ($101,000) luxury sedan that competes with other in-house products, no one knows why it lives. Since VW made roughly 4,000 of them last year, the news that it's being delayed won't affect many people. The next-generation Phaeton developed on the MLB platform is apparently ready to go right now, but Bloomberg reports that the bosses have demanded lower production and material costs before it gets a final green light. At the moment the Phaeton is put together by hand by white-gloved technicians, which might sound like a great place to start counting pennies, but again, those technicians only built 4,000 sedans last year. That's fewer than the Eos, which is being retired for slow sales, and VW sold 3,411 Eos models in the US alone last year. Recent hire Herbert Diess is the VW exec in charge of the cost-cutting push. The Phaeton is a grain of sand - but a very important one - on the beach he's meant to conquer: Diess plans to raise VW brand profit to more than six percent by 2018 at the same time there's a group-wide push to save $5.5 billion. That number would more than double the brand's current 2.7-percent profit for 2015 so far, that current number being about half the profit over at struggling French maker PSA Peugeot-Citroen. The new Phaeton's on-sale date had been reported as 2017 or 2018 earlier this year. It isn't clear how long the sedan will be pushed back because of the production changes.