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VW recalls 420,000 vehicles for driver's airbag failure

Volkswagen is issuing a recall for 420,000 vehicles in the US because of a potential failure of the driver's side airbag. The campaign affects German-made examples of the 2010 Passat; the 2010-2013 Eos and Jetta; the 2010-2014 CC, Tiguan, and US-produced units of the Passat; the 2011-2013 Jetta SportWagen; and the 2011-2014 Golf and GTI. There are no reports of accidents or injuries related to this issue. Specifically, this problem comes because the steering wheel clock spring can be contaminated by debris, which moves the part's guide loops out of position. This can cause a tear in the electrical cable that controls the driver's airbag. If this happens, a warning light would illuminate, but the safety device would not deploy in a crash. VW is still identifying all of the affected VINs and developing a fix. The company plans to notify owners once everything is known. Related Video: VOLKSWAGEN ISSUES VOLUNTARY RECALL Aug 14, 2015 Herndon, VA - Volkswagen considers the safety and satisfaction of its consumers and passengers a top priority. As such, Volkswagen of America today notified the National Highway Traffic Safety Administration (NHTSA) that it will be issuing a voluntary safety recall affecting the steering wheel clock spring on approximately 420,000 Volkswagen vehicles in the U.S. Certain 2010-2014 Model Year Volkswagen CC Certain 2010-2013 Model Year Volkswagen Eos Certain 2011-2014 Model Year Volkswagen Golf/GTI Certain 2010-2013 Model Year Volkswagen Jetta Certain 2011-2013 Model Year Volkswagen Jetta SportWagen Certain 2010 Model Year Volkswagen Passat (German Production) Certain 2010-2014 Model Year Volkswagen Passat (U.S. Production) Certain 2010-2014 Model Year Volkswagen Tiguan On certain vehicles, the steering wheel clock spring could become contaminated with long hair or long fibers which may cause a displacement of the internal guide loops. When the guide loops are dragged out of position, they may apply tension to the internal flat cable and cause it to tear. Should the cable tear, the electrical connection to the driver's front airbag may be lost, causing the airbag monitoring indicator light to illuminate. In a crash that warrants a driver front airbag deployment, the airbag will not deploy, leading to a risk of driver injury.

Former Porsche CEO Wiedeking indicted over VW takeover bid

Do you recall the failed efforts by Porsche to take over Volkswagen? According to a Bloomberg report, former Porsche CEO Wendelin Wiedeking (above) and ex-CFO Holger Haerter have finally been charged with market manipulation over the exercising of options as part of the German sportscar manufacturer's ill-fated attempt to take over the much larger VW. That failed bid eventually resulted in the reverse coming true - VW swallowing Porsche.
The charges leveled by Stuttgart prosecutors come after a three-year investigation centered around allegations that Porsche execs made a concerted effort to increase the company's share in VW to 75 percent in preparation for a hostile takeover. Porsche had previously told its investors on at least five occasions that it had no intention to buy VW.
Portions of the investigation have subsided, according to prosecutors, citing an inability to prove certain improprieties with a "necessary degree of certainty." The number of charges is down to 5 from a previous 14 counts regarding "information-based market manipulation."

VW makes $23K on every Porsche sold, more than Bentley or Lamborghini

It's a good time to be in the luxury car business. In Volkswagen Group's financial report for the 2013 fiscal year, it is revealed that that Porsche enjoyed an operating margin of 18 percent. That means the Stuttgart brand made on average about $23,200 per car sold, according to BusinessWeek. Bentley wasn't far behind, and Audi (which was combined with Lamborghini) posted a 10.1 percent margin. This compares to only around 2.9 percent for the Volkswagen brand.
"Luxury brands are on fire," said Dave Sullivan, an industry analyst at AutoPacific. He said that the average profit margin is between six and eight percent. Brands like Porsche and Bentley have the benefit of competing in rarefied markets. Buyers looking at one their vehicles have fewer models to shop against and don't care as much about price. They can also charge more for options, which further boosts income, according to BusinessWeek.
In a way, we should be more impressed by the continued success from Audi. Its models generally have direct competitors in every segment from the other premium automakers. Plus, their buyers aren't the captains of industry who are shopping for a Bentley. Still, the Four Rings is leading rivals in sales so far this year.