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Volkswagen forced to sell stake in Suzuki

The six-year-long failed marriage between Volkswagen and Suzuki has finally come to an end. Almost. An arbitration panel in London issued its final verdict which, according to a VW press release, cleared Suzuki in terminating the agreement, so VW now needs to get rid of its 19.9-percent share. However, the tribunal's decision said VW performed all of its obligations and Suzuki didn't – the Japanese carmaker should have given VW last-call rights for a delivery of diesel engines, but failed to. The breach opens Suzuki up to damage claim, but so far VW only says it reserves the right to sue. Now that Suzuki has an outside investor to provide funds it meant to get from VW, perhaps both can get back to their reasons for being. The press release is below. Ruling in arbitration proceedings: Cooperation between Volkswagen and Suzuki deemed terminated - Arbitral tribunal confirms Volkswagen met contractual obligations and finds that Suzuki has ordinary right to terminate agreement based on reasonable notice - Volkswagen to dispose of its 19.9 percent stake in Suzuki and expects positive effect on Company's earnings and liquidity from transaction - Arbitrators also find that Suzuki breached its contractual obligations to Volkswagen under the agreement and that Volkswagen has right to claim damages Wolfsburg, 30 August 2015 - An arbitral tribunal in London has announced its ruling in the dispute between Suzuki Motor Corporation and Volkswagen Aktiengesellschaft. As a result, cooperation between the two parties is deemed terminated. The arbitrators confirmed that Volkswagen met its contractual obligations under the cooperation agreement and found that Suzuki has terminated the agreement upon reasonable notice. Volkswagen will therefore now dispose of its 19.9 percent stake in Suzuki and expects a positive effect on the Company's earnings and liquidity from the transaction. The arbitral tribunal also confirmed that Suzuki breached its contractual obligations to Volkswagen under the agreement and that Volkswagen has the right to claim damages. "We welcome the clarity created by this ruling. The tribunal rejected Suzuki's claims of breach and found that Volkswagen met its contractual obligations under the cooperation agreement. Nevertheless, the arbitrators found that termination of the cooperation agreement by Suzuki on reasonable notice was valid, and that Volkswagen must dispose of the shares purchased.

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.

2015 Volkswagen Passat Alltrack ready for any road, except in the US

If Volkswagen built a Subaru Outback-fighter for US buyers, the Passat Alltrack would be it, and the new generation of VW's off-roading wagon debuted this week at the Geneva Motor Show. The Passat Alltrack – which is not sold in the United States – takes the car-like demeanor of the Passat and punches it up into a go-anywhere crossover. It has permanent 4Motion all-wheel drive, raised ride height and an electronic differential lock. The body is fitted with modified bumpers with underbody guards, reinforced wheelarches and side moldings with extended sills. There are roof rails on top, and it rolls on standard 17-inch wheels with 18s and 19s optional. The Passat Alltrack offers five direct-injected engines, with the lineup comprised of two turbocharged gasoline mills and three turbo diesels. Volkswagen loaded the vehicle with a wide range of infotainment and safety features, including choices of five radio and navigation units. It also has fully digital instruments, heads-up display and a rear-seat entertainment system setup for laptops. There is also lane-changing assist, rear-traffic alert and trailer-assist features. As spokesman confirmed to Autoblog there are no plans to bring the Passat Alltrack to the US market. The new Passat Alltrack • World premiere at the Geneva International Motor Show • All-wheel drive all-rounder* combines exceptional off-road properties with excellent travel comfort The latest generation of the Passat Alltrack* is celebrating its debut at this year's Geneva International Motor Show. Based on the new Passat Estate, the new Passat Alltrack impresses with an independent off-road look, 4MOTION permanent all-wheel drive and highly advanced technologies. The updated version confidently handles rough terrain, on the one hand, while simultaneously providing excellent cruising comfort – thanks to the driving profile selector and DCC adaptive chassis control. The Passat Alltrack is an independent model within the model series. This can be seen in exterior features such as the modified bumpers (with underbody guard in stainless-steel look), rugged wheel arch and side sill moulding covers in "Anthracite" and sill extensions. Its 27.5 mm higher ground clearance also makes it ready for any driving situation. Anodised silver roof rails, "Alltrack" badges on the radiator grille and tailgate, and custom 17-inch alloy wheels (18- and 19-inch wheel options available) upgrade this Estate even more.