1960 Vw Bug on 2040-cars

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VW Financial Woes Continue, Tesla Model X Dazzles | Autoblog Minute

Volkswagen Group continues to experience backlash from the diesel emissions scandal, while Tesla revealed its Model X, a fully electric luxury crossover. Tesla Volkswagen Electric Autoblog Minute Videos Original Video

VW's credit ratings could take a beating

In addition to a significant drop in its share price already, Volkswagen's diesel emissions scandal is continuing to have major financial repercussions on the German automaker. According to The Detroit News, credit rating agencies like Standard & Poor's and Moody's changed their forecasts on the company to negative, and Fitch has considered doing so, as well. Volkswagen appears to have the money to cover the costs of this ordeal, but the agencies question the effect that this has in the long term. "Moody's concern, however, is that Volkswagen's alleged breach of US environment rules and, especially, the process by which that breach occurred, will have an adverse effect on its reputation and credibility within the global passenger car markets," the company wrote in a note to investors, according to The Detroit News. VW has initially set aside $7.25 billion to fix things, but the potential shakeup of top executives has caused some investor uncertainty, too. The actual costs for VW to deal with this scandal are still unknown. In the US, the Department of Justice has begun a criminal investigation, and with other automakers the government has settled for $900 million against General Motors and $1.2 billion against Toyota. Attorneys general in 29 states have started looking deeper, according to The Detroit News, and regulators in Europe, South Korea, and Canada have commenced their own probes, as well. Related Video:

Tanner Foust and Scott Speed get VW internships

Tanner Foust and Scott Speed both already have quite impressive motorsport resumes. The former is a rallycross and drifting champ, and the latter counts two years in Formula One with Toro Rosso among his accomplishments. Still, it's never too late for a career change. In a humorous new ad for Volkswagen, the professional racers take on the duties of summer interns at a dealership. The commercial is timed with the kickoff of the 2015 Global Rallycross Championship season in Fort Lauderdale, FL, on May 30 and 31. Speed and Foust are both racing in Beetle GRCs for the Volkswagen Andretti Rallycross team. This year's Bug is even more potent than last year, though. It now packs a 2.0-liter turbocharged four-cylinder engine to produce 553 horsepower and 465 pound-feet of torque, versus the previous 1.6-liter turbo four with to 544 hp and 387 lb-ft. The racer can reportedly hit 60 miles per hour in just two seconds thanks in part to low gearing and all-wheel drive. One of the Andretti team Beetles might look a little different, too. Foust is sticking with his Rockstar Energy Drink sponsorship, but Speed gets an animalistic livery for Shark Week to celebrate the annual event from the Discovery Channel. Check out both of the cars in the gallery below or the ad in the video above. SCOTT SPEED TO RACE SHARK WEEK THEMED BEETLE GRC IN RED BULL GLOBAL RALLYCROSS SEASON OPENER Scott Speed and Tanner Foust will contest the Red Bull Global Rallycross Championship in Beetle GRCs, starting this weekend in Fort Lauderdale Herndon, VA — The Volkswagen Andretti Rallycross team begins its second full season of racing this weekend in Ft. Lauderdale. The team will again be battling with two Beetle GRC race cars, which debuted in the closing races of 2014. As Volkswagen enters its fourth consecutive year as a presenting sponsor of Discovery Channel's SHARK WEEK, Scott Speed will concurrently begin the Red Bull Global Rallycross season behind the wheel of the No. 41 SHARK WEEK Volkswagen Beetle GRC, wrapped for SHARK WEEK, which begins on July 5th. "My father raced with No. 41 in karts when I was younger so it's pretty special to me," said Speed. "I have only had the option to choose the No. 41 twice in my career and was able to win championships each time. Hopefully it continues to bring me luck in 2015!" New this year, the team has chosen to change the engine specification from the Beetle GRC race cars that ran in 2014.