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CEO says Volkswagen's buying spree is over

After adding Italian motorcycle icon Ducati to its stable and spending $5.6 billion on the rest of Porsche, Volkswagen CEO Martin Winterkorn says he's done shopping for a while.
"We have enough to do at the moment in taking our twelve brands to where we want to be," Winterkorn tells German newspaper Handelsblatt.

Are more diesel scandals about to erupt?

More automakers may soon be embroiled, like Volkswagen, in diesel emissions scandals. According to the Daily Kanban, either the International Council on Clean Transportation (ICCT) or the Deutsche Umwelthilfe (DUH) will soon announce from 10 to 15 more cases of automakers cheating national diesel emissions rules. The outlet says three of the incidents are attributed to Opel. Studies conducted by the DUH, the University of Applied Sciences in Bern, Switzerland, and the UK's Leeds University found that Opel's diesel Zafira, Corsa, and Vectra models emit more NOx than European regulations allow when tested in ways that go beyond the European testing protocol, such as when done on a four-wheel rolling road instead of a two-wheel rolling road. Opel said the accusations had no merit. Specifically on the Zafira, the DUH asked Opel about the emissions findings, and Opel said that no General Motors software contains any measures to enable cheating. Opel then tested a Zafira of its own "both on a two- and a four-wheel roller dynamometer," finding that "The emission behavior determined in each case does not differ from one another." That makes this a case of he-said-she-said for the moment. The Daily Kanban's sources say the cheating methods "range from the crude to the highly sophisticated," with those at the latter end complex enough to render Volkswagen's methods "pedestrian." As for any automakers who might be named, the matter of real-world emissions exceeding a legal limit doesn't mean a carmaker has designed systems that cheat, it might mean the company designed the car to pass a test. Related Video: News Source: Daily KanbanImage Credit: PATRICK PLEUL/AFP/Getty Images Government/Legal Green Volkswagen Opel Emissions Diesel Vehicles vw diesel scandal icct

If VW defaults on loans it may sell Bentley or Lamborghini

If something goes catastrophically wrong with Volkswagen Group's recent $21 billion loan, brands like Bentley or Lamborghini could hit the auction block. According to two insiders to Reuters, the beleaguered German automaker agrees with its creditors to sell assets if the company somehow can't pay back the debt in a year. One of these anonymous people claimed the company hasn't yet deliberated over what to sell. However, the sources were willing to speculate that the power engineering portion of Man could be among the first to go. "Volkswagen may also consider divesting luxury car brands Bentley and Lamborghini or motor bike brand Ducati, although these units don't really move the needle," an insider said to Reuters. VW Group negotiated with the banks earlier this week to get the massive loan. The cash is necessary as a buffer in case the automaker doesn't have enough money on hand to repair vehicles or settle upcoming fines. VW would reportedly issue bonds in the spring to begin paying the debt. The company's bills will start racking up quickly in the new year. German authorities mandate a recall there in early 2016, and repair campaigns in the US for the 2.0- and 3.0-liter diesel engines are inevitable. There are also hundreds of class-action lawsuits to settle. The company needs to resolve its CO2 emissions scandal in Europe, too. In response to these financial threats, VW management created a cost-cutting plan to slash the research and development budget by $1.1 billion next year.