32k Original Miles ''yes 32k'' One Owner Miles- Clean-affordable-no Reserve!!!!! on 2040-cars

Auto blog

VW CFO Hans Dieter Potsch nominated as new board chairman

The search for a successor to Ferdinand Piech has come to an end as the Volkswagen Group has nominated a new chairman. The Executive and Nomination committees of VW's Supervisory Board have put their weight behind one Hans Dieter Potsch, who currently serves on the company's management board as its chief financial officer. He's expected to continue in his current role until November when an extraordinary general meeting of the supervisory board can be called to confirm his nomination and a replacement CFO can be found to take his place. As you may recall, the chairmanship of the Volkswagen board fell until recently to Ferdinand Piech, grandson of Ferdinand Porsche and one of the principals of the Porsche family that holds over 50 percent ownership in Volkswagen through Porsche Automobil Holding SE. Piech went head to head with VW CEO Martin Winterkorn and ultimately lost. Piech resigned and Winterkorn is about to have his term as chief executive extended through the end of 2018. In Piech's place, former union head Berthold Huber was named as interim chairman, but is now referred to in the statement below once again as deputy chairman instead. An Austrian native, Potsch is an industrial engineer by training. He started his career at BMW where he ultimately served as group controller, and subsequently served as CFO and as chairman at a number of German corporations. Potsch joined the VW management board in 2003, initially without portfolio, and soon assumed the financial portfolio – a role he has held until now. In 2009 he took on the additional role of chief financial officer at the Porsche holding company, whose supervisory board representatives are the parties proposing Potsch's nomination as the group's new chairman – even though he is not, strictly speaking, one of their own. In a related development, it appears that Julia Kuhn-Piech will be leaving her board seat sooner than expected. The departing chairman Ferdinand Piech opposed his niece's nomination to the board in his place, and now she'll apparently be stepping down to make way for the family's new choice of chairman.

The VW emissions carnage assessment with an upside

Bombs cause destruction. Even if they're intelligently guided and pinpoint, there's always collateral damage. The strange Volkswagen brew, which is still spontaneously combusting in plain sight, will result in aftershocks for years. And the professional end of the corporation's top leadership will not be the only casualties. Blows are striking shareholder confidence, the residual value of the cars involved, consumer confidence, and the German economy itself. A hard rain's going to fall elsewhere, too. Here are just four damage assessment areas. The High-Compression Past and Low-Compassion Future of Diesels Despite European and especially German manufacturers' high belief that diesel engines were a way to light-duty automotive salvation, VW's scandal started the last nail in the fuel's coffin. Regulations both in the U.S. and in Europe for particulates and nitrogen oxide (NOx) are getting much harder to meet, and this is at the very core of VW's deception. Even with the high-cost exhaust after-treatment systems, sky-high fuel pressure, and sophisticated electronics, the inescapable NOx realities won't be washable by technology in an affordable way. German engineering pride will have to work a real miracle to meet these looming regs and the stain of VW's scandal did the whole diesel movement no favors. Perhaps not so ironically, the E.U. adopted more stringent emission standards this year, which closely mimic the U.S. Tier 2, Bin 5 figures phased in for 2008. Indeed, when VW announced it was able to meet the stringent US NOx emissions standards in 2009 for its diesel engines without urea injection as an exhaust after-treatment, it was a particularly high point of engineering pride for the company. No other manufacturer had figured out how to do so. One Honda official at the time remarked that they had simply no idea how VW was achieving this feat and Honda couldn't come close. Well, neither could VW. On a macro scale, European cities are also starting to face government fines for air quality violations. This is forcing those cities to find various ways to cut smog-related causes like tailpipe emissions. In fact, Paris has gone to the length of restricting car use on a sliding scale when smog persists, while electric cars are free to roam. France's longer and larger plan is banning diesel fuel for light-duty transportation entirely. But why was there a frothy focus by the European manufacturers on diesels in the first place?

European new car sales drop nearly 8% in first half of 2019

PARIS — European car sales dropped 7.9% in June, led by bigger declines for Nissan, Volvo and Fiat Chrysler (FCA), according to industry data published on Wednesday. Registrations fell to 1.49 million cars last month from 1.62 million a year earlier across the European Union and EFTA countries, the Brussels-based Association of European Carmakers said in a statement. Calendar effects resulted in two fewer sales days in most markets, accentuating the decline. Registrations for the first half closed 3.1% lower, ACEA said. For European carmakers, weakening demand at home compounds the pressure from a sharper contraction in China and emerging markets that may yet bring more profit warnings. NissanÂ’s aging model lineup contributed to a 26.6% June sales slump while Volvo Cars, owned by ChinaÂ’s Geely, saw deliveries tumble 21.7%. Registrations also fell 13.5% last month at FCA, 10.1% at BMW, 9.6% at Volkswagen Group and 8.2% for both Mercedes parent Daimler and FranceÂ’s PSA Group. The Peugeot makerÂ’s domestic rival Renault suffered less, posting a 3.9% decline. By the Numbers BMW Chrysler Fiat Nissan Volkswagen Volvo Peugeot Renault