2003 Volkswagen Golf Gti 1.8t Hatchback 1.8l Turbo 6spd 1-owner No Mods 109k on 2040-cars

Auto blog

VW stock plummets as Euro markets open

The fallout from Volkswagen's installation of an emissions "defeat device" on nearly 500,000 diesel-fueled models in the US is already hitting the automaker hard on the German stock exchange. At one point, the share price plummeted 23 percent to erase the equivalent of $17.6 billion in value. Things eventually bounced back slightly to a still severe 19.23 percent loss, according to Bloomberg as of this writing. The scandal couldn't come at a worse time for chairman Martin Winterkorn. The VW supervisory board takes up the issue of renewing his contract on September 25, Bloomberg reports. If things get bad enough, the door could be open for a new boss to step in. Dealers in the US might start feeling the pain from this, as well. Affected 2015 VWs that are still at showrooms are now under a stop sale. Until the issue is straightened out, the Environmental Protection Agency isn't certifying the company's 2016 diesel models with the 2.0 TDI, either. The diesel emissions problem was first discovered by research from West Virginia University and the International Council on Clean Transportation. In some cases, the engines can produce 40 times more nitrogen oxides than allowed. The automaker could be on the hook for $18 billion in fines for the breach, but the actual figure is expected to be lower. In response, Winterkorn has issued a public apology and ordered an independent investigation into what happened. The EPA and California Air Resources Board have also been looking into the situation. This could become an international problem, though. According to The Detroit News, European authorities might begin similar inquires to check the automaker's diesel emissions there.

Recharge Wrap-up: BYD sales surge, new Mazda MX-5, plug-in VW Passat

BYD has enjoyed a tremendous leap in sales since last year, according to Want China Times. Sales from January to April were ten times that of the same period last year, with much of the credit going to government subsidies for clean cars. BYD claims, though, that battery production is limiting the number of vehicles it sells, and that by increasing that production capacity, it will see even more success. BYD's Qin plug-in hybrid, introduced in December, has already sold 4,500 units with another 8,000 orders already placed. Read more here. Mazda will reveal the fourth generation of its MX-5 roadster in September. To celebrate the car's 25th anniversary, the all-new two-seat convertible will debut during simultaneous private events in Spain, Japan and the US on September 3 and 4. Furthermore, the new Miata will be the center of a more public event in Barcelona on September 6. For fans in the US, Mazda will hold a Miatas at Mazda Raceway event from September 5 to 7. The 2016 MX-5 promises to continue to offer a lightweight, balanced design for fun and efficiency. The new Volkswagen Passat will feature a plug-in hybrid version. Volkswagen confirmed the Passat PHEV for Europe at the model's unveiling at the Volkswagen Design Centre in Potsdam, Germany. The plug-in Passat uses a 154-horsepower TSI engine and an 80-kilowatt electric motor for a total output of 208 horsepower. With a full charge, it can travel up to 31 miles on electricity alone. All versions of the eighth-generation Passat use stop-start and regenerative braking. Read more at Green Car Congress. BBC warns that the costs of charging an electric vehicle in the UK could surpass those of fueling a gasoline engine. Not so fast, says The Green Car Website. While the BBC cites charging services like Charge Master introducing fees for rapid charging making it cost about as much per mile to drive as traditional internal combustion engines. The Green Car Website points out that most people usually charge at home for much less, that paying for rapid charging is still not that expensive and that the BBC article misses the point about EVs, anyway. See the BBC article here or click here to read the rebuttal. News Source: Want China Times, Mazda, Volkswagen, BBC News, The Green Car Website via Charged, Green Car Congress Green Mazda Volkswagen Green Automakers Electric PHEV recharge wrapup qin

Winterkorn will leave remaining VW posts by end of the month

After stepping down as chief executive of the Volkswagen Group last month, Martin Winterkorn still retains a few key positions within and related to the German automaker. According to the latest reports, he's set to resign from those positions as well in the coming days. Aside from his former position as chairman of VW's executive board, Winterkorn has also served (and continues to serve at present) as chairman of the supervisory boards of Audi, truck manufacturer Scania (which is owned by VW), and the group's Truck & Bus division (of which Scania is part alongside Man). He's also the chief executive of Volkswagen's largest stakeholder Porsche SE, having taken up the position after the Porsche/Piech family enterprise acquired its majority stake in the group that also subsumed the sports car manufacturer. In what could prove a strong indicator of things to come, and according to the report from Reuters, Winterkorn was not present at a recent meeting of Audi's board. In his place, the meeting was presided over by deputy chairman Berthold Huber. The former labor leader also served as interim chairman of the VW board after Ferdinand Piech's departure but before CFO Hans Dieter Potsch was named to the post. The companies in question have yet to make any announcements regarding Winterkorn's remaining positions, or confirm the reports regarding his future. However parties close to the automaker and its owners reportedly expect the resignations from those positions to come as well before the end of the month, if not before the week is out. Related Video: News Source: ReutersImage Credit: JOERG KOCH/AFP/Getty Green Hirings/Firings/Layoffs Porsche Volkswagen Diesel Vehicles vw diesel scandal martin winterkorn Scania truck and bus gmbh