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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

VW will reportedly offer cash to cheated diesel car drivers

If you're feeling burned by Volkswagen's decision to cheat on diesel emissions tests, you might get some compensation for your troubles. Sources for The Truth About Cars understand that VW will launch a "TDI Goodwill Program" that compensates diesel car drivers with cash in the form of prepaid cards. In the US, you'd get both a $500 universal card as well as a VW-only card worth $500 to $750. The automaker isn't confirming details just yet, but it tells the New York Times that it's planning an announcement on Monday. Dealers also tell the newspaper that they're aware of a program in the works, although they don't know the specifics. It may not include the expanded range of cars reportedly tainted by the scandal, though, since VW is denying claims that it cheated with some models. This isn't the only olive branch VW has been offering: it's been handing out deals to existing owners willing to hop into new vehicles, and there are more discounts than usual across the board. However, the goodwill effort would represent the first instance of VW directly compensating drivers who'd previously thought they were getting an eco-friendly machine. This isn't going to make up for years of unnecessary pollution, but it may represent the company's best hope of holding on to customers. This article by Jon Fingas originally ran on Engadget, the definitive guide to this connected life. ?> News Source: The Truth About Cars via The New York TimesImage Credit: Ralf Hirschberger/dpa via AP Earnings/Financials Green Audi Porsche Volkswagen Hatchback Wagon Diesel Vehicles Sedan vw diesel scandal compensation

Volkswagen sketches Geneva-bound concept

Volkswagen has released a pair of sketches that give us our first official glimpse at the company's new concept car, set to debut at the Geneva Motor Show next week. Details are slim – the car doesn't even have a name yet – but we do have some facts about VW's swoopy new showcar. First off, it's a sedan – well, "four-door coupe" – but is said to have a hatchback configuration. Autoblog has also learned that the car will be powered by a hybrid powertrain, using a TSI gasoline engine paired with two electric motors, and uses an all-wheel-drive configuration that's likely similar to that in the recently unveiled Cross Coupe GTE concept. Volkswagen says this showcar uses a new, progressive design language for the brand. And while it sort of looks like a dead ringer for a new CC, we're told this concept is positioned above that model. For now, that's all we know, but we expect a host of other details to be released closer to the car's official debut in Geneva next week. Stay tuned. Related Gallery Volkswagen Geneva Showcar Sketches News Source: Volkswagen Design/Style Green Geneva Motor Show Volkswagen Concept Cars Hybrid Sedan 2015 Geneva Motor Show