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Giorgetto Giugiaro sells shares in legendary styling house to Audi

Giorgetto Giugiaro undoubtedly stands among the great automotive designers of the 20th century, having penned the original Volkswagen Golf and Delorean DMC-12, among countless others. However, the great stylist is now longer an employee or even an owner of the company that bears his name. According to Automotive News, Giugiaro and his son, Fabrizio, sold their remaining 9.9 percent of Italdesign Giugiaro to Audi on Sunday, June 28, and the two resigned from the business the following day. The news about this just came out, though. The exact reason that the two men left the company hasn't been made entirely clear. According to Automotive News, a statement said that Giorgetto Giugiaro went "to dedicate more time to his personal interests." Italdesign Giugiaro remains open and intends to keep growing, though, the same announcement asserts. After stints at Bertone and Ghia, Giugiaro founded Italdesign in 1968. He created some masterpieces there, including '70s wedges like Maserati Merak, Lotus Esprit, and much more. The 2000s weren't so kind and 90.1 percent of the company was sold to Volkswagen Group in 2010. Former Audi design boss Wolfgang Egger took over styling duties there in late 2013, but he only lasted for about a year, leaving in late 2014. Since the sale, Italdesign has continued to work, including with the Gea concept at the 2015 Geneva Motor Show and the very mean-looking Parcour in 2013. Giugiaro's designs are still highly prized, as well. On September 5, Bonhams is auctioning the Maserati Boomerang concept by him and expects to get around $4 million for it. The gallery above offers a few more examples of his and Italdesign's concepts for VW Group over the years.

'Clean Diesel' leaves dirty taste for green-minded VW owners

Volkswagen developed the advertising campaigns for its "Clean Diesel" cars far better than the actual technology. In dozens of complaints filed with the Federal Trade Commission in September, green-minded consumers said they were enticed into buying diesels by the company's advertising, which touted the environmental benefits of new diesel technology. Those alleged benefits convinced many to buy cars they otherwise would not have considered. In actuality, Volkswagen installed secret software in its cars that allowed the company's diesels to brazenly circumvent emissions standards. For environmentally conscious consumers, those decisions backfired. Instead of helping the environment, they drove cars that polluted at up to 40 times beyond the legal threshold for certain emissions. Now, those consumers are angry. They've asked the Federal Trade Commission to investigate Volkswagen for alleged deceptive advertising, and are hoping the federal agency can intervene and force Volkswagen to either buy back their compromised cars or negotiate trade-ins on favorable terms. An FTC spokesperson confirmed the agency is investigating. Many of those who wrote or called the agency said they felt like they had nowhere else to turn. For green-friendly drivers, it wasn't only about the money. It was also about the betrayal. "I am ashamed to drive this car on the road, as doing so is evidence that I have been taken for a fool." "It's awful for the environment," wrote one consumer from Shreveport, Louisiana, on September 24, days after the diesel scandal unfolded. "It's caused me anxiety thinking about the amount of emissions I have been producing." The motorist's comments echoed others filed with the FTC. Many owners felt trapped with cars they couldn't sell and cars they felt they could no longer drive in good conscience, knowing they spew nitrogen oxide at levels that violate the Clean Air Act. "I do not see how I can drive it knowing highly toxic pollutants are being produced," wrote another driver from Middletown, Rhode Island. "I have not driven the car since this news came to light." The two statements were among the 89 filed with the FTC's Consumer Sentinel Network in the week following the Environmental Protection Agency's announcement that Volkswagen had admitted rigging approximately 482,000 cars in America with software that allowed them to cheat emissions testing.

Former Porsche execs acquitted of stock manipulation charges

A German court acquitted former Porsche CEO Wendelin Wiedeking and former CFO Holger Harter of stock manipulation charges, according to Bloomberg. Prosecutors alleged the men hid plans to takeover Volkswagen while publicly denying their intentions to investors. The presiding judge didn't find any merit to those claims, though. "There is nothing to the allegations, absolutely nothing," Judge Frank Maurer said, according to Bloomberg. "There was no secret plan to take over VW." Rather than Porsche taking over VW, the exact opposite eventually happened, and both execs stepped down. Investigators first indicted Wiedeking and Harter for alleged stock manipulation in late 2012. A court in Stuttgart dismissed the case in 2014 because of a lack of evidence, but an appeals court later overruled that decision. The current trial finally began in October 2015. If convicted, Wiedeking faced up to 30 months in prison, and Harter could have received up to 27 months, Bloomberg reported. Prosecutors also wanted one million euro ($1.1 million) fines from them and 807 million euros ($910 million) from Porsche. The acquittal might not be the end of this long-running case, though. In Germany, prosecutors have the right to appeal a ruling, and the lawyer hasn't made a final decision yet. If the court thinks there's a reason, the former execs could be back in front of a judge at some point in the future.