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Former Porsche execs charged with stock manipulation in Germany

The ongoing indictment of top Porsche executives for alleged stock manipulation during the attempted takeover of Volkswagen has taken years to reach an actual decision, but a trial date has finally been set for October 22. In addition to former CEO Wendelin Wiedeking (pictured above) and ex-CFO Holger Haerter, prosecutors have also added Anton Hunger, who was communications boss at the time, to the list of those charged, according to Reuters. The men purportedly made false statements to investors about plans to acquire 75 percent of VW stock. The prosecutor also dropped charges against Ferdinand Piech and Wolfgang Porsche in the same case, Reuters reports. The two Porsche family members were on the company's board at the time, but investigators found that they had no role in making the false statements. If found guilty, the former Porsche execs could face up to five years in prison. As expected, lawyers for Wiedeking and Haerter have repeatedly denied any wrongdoing by their clients. The investigation into Porsche SE's actions during the failed VW takeover go back to at least 2009 when the firm's offices were raided. Wiedeking and Haerter were eventually indicted in 2012. A Stuttgart court initially dismissed the case for lack of evidence, but in 2014 that decision was reversed on appeal. At the same time, investors have brought multiple civil lawsuits against the company, but none of those cases have been successful.

VW Golf TDI circles US on less than $300 of diesel

$294.98. That's how much it cost the Volkswagen team to drive across all 48 contiguous states in the union. Which is pretty impressive, but it's only part of the story. In an effort to demonstrate just how economical a conventional diesel engine can be, VW sent a team out from its US headquarters in Herndon, VA, in a Golf TDI. Their mission was to visit all the Lower 48 on as little fuel as possible. Over the course of 16 days, they traveled 8,233.5 miles, burned through 101.43 gallons of fuel, and marked a frankly astonishing average of 81.17 miles per gallon. As a result, the team – made up of hypermiling automotive journalist Wayne Gerdes and electronics engineer Bob Winger – picked up a new Guinness World Record for the lowest fuel consumption achieved in a non-hybrid car across the 48 contiguous states. The previous record, it's worth noting, had also been set by VW and Gerdes, who piloted a 2013 Passat TDI at just a hair under 80 mpg. But here's the kicker: in raising the diesel economy bar even higher, the team also beat the record for the same achievement in a hybrid vehicle by over six mpg. So the next time someone tries to tell you a hybrid is more efficient than a diesel (at least on the highway), you can point them towards this record. Related Video: VOLKSWAGEN GOLF TDI® ROUNDS LOWER 48 STATES ON LESS THAN $300 OF CLEAN DIESEL, SETS GUINNESS WORLD RECORDS™ ACHIEVEMENT FOR FUEL ECONOMY Golf TDI® beats the GUINNESS WORLD RECORDS™ achievement for "lowest fuel consumption—48 U.S. contiguous States for a non-hybrid car" at a stellar 81.17 mpg Herndon, Va. — Volkswagen of America, Inc., is pleased to announce today that the 2015 Golf TDI® Clean Diesel, part of the family of vehicles that won the 2015 North American Car of the Year, has set a new GUINNESS WORLD RECORDS® achievement for the "lowest fuel consumption—48 U.S. contiguous States for a non-hybrid car" with a remarkable 81.17 mpg. Traveling 8,233.5 miles around America in 16 days on $294.98 of Shell® Diesel fuel, the Golf beat the previous mark of 77.99 mpg by more than 3 mpg, and also beat the hybrid vehicle record of 74.34 mpg by more than 6 mpg. "Covering 8,233.5 miles on just 101.43 gallons of Clean Diesel fuel is a remarkable accomplishment, and solid proof of the efficiency and fuel economy of Volkswagen's TDI® Clean Diesel vehicles," said Michael Horn, President and CEO, Volkswagen Group of America, Inc.

VW could look outside its own ranks for next CEO

Companies have two options when coming up with succession plans – hire within, or go outside its ranks. Either choice comes with advantages and disadvantages, to be sure. Hiring within means generally getting someone familiar with the company and its culture and traditions, while going outside is ideal if you're looking to shake things up and bring in fresh ideas. It's unclear which avenue the Volkswagen Group will go down when it comes time to replace its head man, Herr Professor Doctor Doctor Herr Martin Winterkorn, but he isn't ruling out a trip outside of Wolfsburg. Winterkorn has already given the reins of the VW brand to former BMW board member Herbert Diess, while Andreas Renschler, a former Daimler board member, is heading up VW's truck group. Now, Winterkorn has made some statements to a German weekly that indicate the most important thing about his successor isn't necessarily his (or her, though no women appear to be on the short-list) previous employer, Motoring.com.au is reporting, so much as his qualities as a leader and an engineering background. "A Volkswagen boss has to have a big affinity to our products. He needs to be close to customers and he needs to have a relationship with dealers," Winterkorn told Stern. "Like always, it depends on the personality and it also helps if the candidate is an engineer." Motoring throws out a couple of potential candidates from within, including Porsche boss Mathias Muller, Audi Chairman Rupert Stadler and engineering guru Ulrich Hackenberg, in addition to both Diess and Renschler. And while each candidate has a lot of potential, the only thing that's guaranteed right now is what Winterkorn has already said: "The decision about who will succeed me is not an easy one for the supervisory board."