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VW execs didn't think diesel problem would be so serious

Volkswagen Group has admitted that former chairman Martin Winterkorn received two memos about the diesel scandal in 2014. Top execs ignored the problem because they didn't think it was a serious issue. VW disclosed these details to counter allegations in a German shareholder lawsuit that alleged the automaker violated the law by withholding the info from investors. A memo on May 23, 2014 first advised Winterkorn about emissions cheating. A memo on May 23, 2014, first advised Winterkorn about the study from the International Council on Clean Transportation, which identified the emissions cheating. According to VW, the document was part of the exec's weekend mail, and the company's investigation didn't discover whether Winterkorn actually read it. A rumor last month alleged this memo existed. Another memo for Winterkorn on November 14, 2014 was about several defects, including the diesel engines. The document estimated it would cost 20 million euros ($22 million US at current rates) to fix the problem. The chairman learned about the issue again on July 27, 2015, during a meeting on product issues. "Mr. Winterkorn asked for further clarification of the issue," according to VW's statement. Things got serious at the end of August 2015. Things got serious at the end of August 2015 when technicians explained the diesel issue to the legal department. VW came clean to the California Air Resources Board and the Environmental Protection Agency on September 3. A memo told Winterkorn the next day, which was also previously alleged. According to this investigation, management didn't believe the diesel problem would affect the stock price, and they estimated the cheating might cost at most a few hundred million dollars in fines. The execs were clearly wrong. The share price dropped after the scandal broke last September, and the problems have started to affect its divisions. According to Reuters, Audi reported it suffered 228 million euros ($249 million) in costs in 2015 from the emissions issue and repairing Takata's faulty airbag inflators. Volkswagen still doesn't know the exact costs of the scandal, but the automaker's law firm, Jones Day, plans to release a report in the second half of April to explain the whole affair. By that time, we might also know how VW plans to fix the problem because a judge recently gave the company until March 24 to outline a fix for the 2.0-liter TDI. CARB started evaluating a repair plan for the 3.0-liter TDI in early February.

Volkswagen hits Gran Turismo with GTI Supersport concept [w/video]

As impressive as are the production hot hatches that Volkswagen offers based on the Golf, the German automaker cooks up even more impressive conceptual versions. Like this latest design for Gran Turismo 6. The GTI Supersport Vision Gran Turismo is like the GTI you can pick up at your local VW dealer, only more so. The design brings the VR6 back to the GTI, this time packing a (hypothetical) 503 horsepower and 490 pound-feet of torque, channeled to all four wheels through a seven-speed dual-clutch gearbox and 4Motion all-wheel drive. In the virtual reality of GT6, that's said to be enough to propel this digital concept to 62 miles per hour in 3.6 seconds and on to a top speed in excess of 186 mph. Naturally VW's designers gave the GTI Supersport concept the show to accompany the go, gracing the shape with more vents, more extreme aero, a wider stance on 20-inch wheels... the works. All that is said to give it a lower center of gravity and a power-to-weight ratio of 5.5 pounds per horsepower. Of course the GTI Supersport isn't the first hot Golf concept VW has dreamt up in recent years. There was the earlier GTI Roadster concept also revealed for the Vision Gran Turismo series, the Golf R 400 concept that may yet see production, and the bonkers GTI W12 650 concept with its mid-mounted twelve-cylinder engine. This one may never see production, but at least gamers will be able to drive it remotely on PlayStation. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Wolfsburg, 14 April 2015 Next level: Volkswagen presents new digital supercar - GTI Supersport Vision Gran Turismo excites PlayStation fans - Race car with 503 HP now available for downloading Volkswagen is expanding its GTI fleet and sending a new supercar onto the digital race circuit. The engine roaring under the bonnet of the GTI Supersport is a 503 HP VR6 TSI coupled with a seven-speed dual-clutch gearbox (DSG). The design of this digital supercar combines the Volkswagen icon with sheer racing design. Following last year's roadster, another version of the GTI, with its long racing tradition, can now head for the starting line on Gran Turismo®6, exclusively on PlayStation®3. The first impression of this racer already shows that the Supersport is what fans want and is designed for racing. 665 Nm of torque catapult the virtual GTI to 100 kilometers per hour from a standing start in only 3.6 seconds.

Piech's dismissal from VW came after failed coup to oust Winterkorn

When the Volkswagen board ousted its chairman Ferdinand Piech over the weekend, we knew right away it had something to do with disapproval of chief executive Martin Winterkorn. And now we have more details of how that struggle reportedly came to a head. According to Reuters, Piech undertook a cloak-and-dagger campaign to oust Winterkorn as CEO, even after having publicly endorsed the top executive's leadership of the company. Piech reportedly focused on other members of his family – descendants of Ferdinand Porsche and majority stakeholders in Volkswagen – to install Porsche chief Matthias Mueller as group CEO in Winterkorn's stead. But Piech failed in his campaign, and was given an ultimatum by the board: either show yourself out or we'll kick you out. And so he resigned. A big part of Winterkorn's rescue and Piech's failure reportedly came at the hands of labor representatives on the VW board, like Berthold Huber who was appointed as acting chairman following Piech's departure. That may leave Winterkorn still in charge, but may leave him beholden to the unions even more than before. Winterkorn has been undertaking a concerted campaign to cut overhead costs at VW, but the trade unions have reportedly been blocking many of the steps the chief exec has proposed. The next big question is who will ultimately replace Piech in the long term at the head of the board table. Winterkorn could get the nod, leaving the company to find a new CEO to take his place. Another likely scenario, however, would be another member of the Porsche/Piech family taking the helm and leaving Winterkorn in place. Whether Ferdinand Piech ultimately sells his 13.2 percent stake in the company (likely to other members of his family) or holds on to it and exerts influence behind the scenes is an open question. One way or another, any major appointment at the head of either the management or supervisory board will require support from the Porsche/Piech family, from the works council of labor representatives and from the state government of Lower Saxony, so the process of filling Piech's vacancy will likely prove anything but straightforward. News Source: ReutersImage Credit: Thomas Kienzle/APN Hirings/Firings/Layoffs Volkswagen martin winterkorn