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BMW says its diesels are above board

BMW got yanked into the riptide of the Volkswagen diesel scandal thanks to a report in Auto Bild, which Auto Bild has now clarified. On Thursday the German magazine said that when the International Council on Clean Transportation tested the X3 xDrive 2.0d, the ICCT discovered the diesel X3's tailpipe emissions exceeded the European limit by more than 1,100 percent. The key detail, though, is that apparently at no time did the ICCT find that BMW cheated on any emissions tests. No one has explained why the X3 diesel had such high emissions and the ICCT wouldn't comment on the Auto Bild report. But the mag has issued a clarification asserting that in spite of the excessive emissions, there is no evidence BMW engaged in regulatory subterfuge. Every other BMW vehicle ICCT tested was within compliance, but the organization's report from October 2014 - that no one paid attention to - found that nitrogen oxide emissions in 15 vehicles it tested averaged seven times the European limit. The brand's stock is still suffering from the taint. It dropped almost ten percent the day the report came out before rallying to close at five percent down. But on Monday BMW stock closed at 84.01 euros, and as of writing on Friday it's still trying to fight its way back above 80 euros. With so many people still just trying to find out how widespread the the issue is, and trust rather low, it's likely BMW won't be the one dragged down, fairly or not. Related Video:

Volkswagen to add 50k jobs by 2018

Volkswagen still has its eyes set on becoming the top global automaker by 2018, and to get there, it's apparently going to need more boots on the ground. Automotive News Europe is reporting that VW is looking to increase its staff by 50,000 over the next five years - an increase of nine percent - which does not include an increase in its US dealer network.
According to the report, a majority of the growth will come from China where the automaker is also looking to double its production capacity in the same time frame. The Volkswagen Group is already expected to rival General Motors for the top sales spot in China this year, and such a rapid expansion in the region could make a good springboard for sales increases in other countries.

Porsche-Piech buy 10% stake in VW's holding company

In August, 2009, as the scuttled merger of Porsche and Volkswagen had gone bad and Porsche was backed up against the ropes, Porsche Automobil Holding SE (PAHSE) relinquished a ten-percent stake in itself to Qatar Holdings as well as options it held on 17 percent of VW shares. The sale meant that, for the first time since the founding of the company 61 years before, an entity outside the Porsche and Piech families had a say in the running of PAHSE.
Buying that ten-percent stake back returns full ownership to the two families, the holding company's sole possession being ownership of 50.7 percent of VW's common shares. The price paid wasn't disclosed, but at market rates the purchase would be worth close to $1.25 billion. Qatar intends to hold onto the 17-percent stake it has in Volkswagen.