2013 Volkswagen Jetta 2.5l Se on 2040-cars

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Volkswagen continues hunt for new chairman

Volkswagen is going to need a new chairman. And the question is not only who that will be, but when he or she will be selected. The German automaker held its Annual General Meeting in Hannover yesterday, the first in a baker's dozen years without Ferdinand Piech presiding as chairman. The gavel was wielded instead by Berthold Huber, a labor representative on the board who was named as interim chair. Piech was ousted along with his wife Ursula (who also sat on the board) after a failed attempt to push out Martin Winterkorn as CEO. According to Winterkorn, in speaking with Reuters in an article published by Automotive News, the industrial giant is working hard at finding a new chairman in short order. "The executive committee and the supervisory board are working hard to swiftly resolve the remaining issues with regard to the composition of the supervisory bodies in the best possible manner," Winterkorn said. The publication's German counterpart, however, paints a different picture. Speaking with Stephan Weil, the president of Lower Saxony who sits on the board as a shareholder representative, Automobilwoche says Volkswagen is in no rush to name a new chairman. The truth is probably somewhere in the middle. What is clear, however, is that the new chairman will need broad support from the company's labor representatives as well as its shareholders – including the Porsche and Piech families and government representatives from Lower Saxony and Qatar. Porsche Automobil Holding SE holds 50.7 percent of the company's shares, the State of Lower Saxony another 20 percent, Qatar 17 percent and the remaining 12.3 percent by other shareholders. Some have speculated that Winterkorn could be promoted to the chairmanship of the Supervisory Board, but could end up having his term as chief executive (and chairman of the managing board) extended instead, with the chairmanship going to another candidate. Related Video:

Volkswagen looking to acquire Proton, Lotus?

Let's say you're an automaker bent on world domination looking to grow your sales. That's going to have you looking at Asian markets, because that's where some of the biggest growth has been, and that's exactly what Volkswagen is doing as it considers making another run at Malaysia's Proton.
Reuters reports that Volkswagen is interested in at least a partial stake, if not a controlling interest in Lotus-parent Proton as a way to continue a production presence in the region without having to build its own factory.
Volkswagen already builds the Passat in a DRB-HICOM facility in Pekan, Malaysia, and plans are in place to build the Jetta and Polo there, as well. With both southeast Asia and its relationship with Proton figuring so importantly in Volkswagen's plans for expansion, buying into Proton can help ensure stability. Volkswagen is being tight-lipped about the whole idea, but CEO Martin Winterkorn did recently say, "it's our clear goal to continue the successful (expansion) course of past years with great dynamics and stability," which sounds an awful lot like deals are on the table to smooth the path to further growth.

Berlin demanding costly German recall of 12 million diesel cars

BERLIN - Germany's Transport Ministry is in talks with car manufacturers about updating the engine management software of up to 12 million diesel vehicles, people familiar with the talks told Reuters on Monday. The cost of updating cars could amount to as much as 1.5 billion to 2.5 billion euros ($1.7 billion to $2.8 billion), and the ministry is demanding that vehicles with engines conforming to the euro-4, euro-5 and euro-6 standards be part of the recall, government sources said. The German government has demanded that the auto industry shoulder the costs of the update and is pushing for a solution to be presented before German elections on Sept. 24. The ministry is in talks with German auto industry associations VDA and VDIK as well as representatives from local governments to try and cut nitrogen oxide pollution by about 25 percent, the sources said. The talks come amid growing opposition to diesel in the wake of an emissions cheating scandal at Volkswagen. Several European cities including Stuttgart and Munich have considered banning some diesel vehicles because of emissions of nitrogen oxides, which are blamed for causing respiratory disease. ($1 = 0.8942 euros) Reporting by Markus WacketRelated Video: Government/Legal Green Audi BMW Mercedes-Benz Porsche Volkswagen Emissions Diesel Vehicles dieselgate