Detroit Bureau on Twitter

Posts Tagged ‘VW arteon’

VW Brand Profit Slammed by Diesel Emissions Scandal Costs

U.S. remains "core market," says CEO Mueller.

by on Mar.14, 2017

VW CEO Matthias Mueller holds the wireless fob for the Sedric robotic car at the Geneva Motor Show.

Volkswagen revealed a classic good news/bad news scenario on Tuesday morning. After reporting record group profits last month for 2016, the automaker now says operating earnings at the flagship VW brand took a sharp hit as a result of the maker’s diesel emissions scandal.

The automaker has so far agreed to spend nearly $25 billion on fines and settlements in the U.S. alone as a result of the scandal, and that doesn’t include a hefty increase in marketing costs since the diesel engine rigging was revealed in September 2015.

Subscribe Now!

Nonetheless, Volkswagen Group CEO Matthias Mueller put a positive outlook on the maker’s current situation, insisting it was “back on track” after one of the worst crises in its eight-decade history. Mueller himself took home 7.8 million euros, or $8.5 million, in pay and other forms of compensation for 2016.

(more…)

VW Teases New Premium Fastback for U.S., Global Markets

Due for Geneva debut, four-door could fill niche left open by Phaeton.

by on Nov.28, 2016

VW plans to top its sedan line-up with the new Arteon fastback due to market for 2018.

Determined to rebuild in the wake of its costly diesel emissions scandal – especially in the critical U.S. market – Volkswagen is offering a teaser image of the “premium fastback” model it plans to unveil at the Geneva Motor Show three months from now.

To be called the Volkswagen Arteon, it will be “positioned above” the brand’s largest current model, the Passat, and potentially fill an upscale niche abandoned when the VW Phaeton was pulled from production. But the Arteon is not expected to go quite as far upmarket as that big sedan, which made pretenses of targeting the likes of the Mercedes-Benz S-Class, BMW 7-Series and even sibling brand Audi’s A8.

Subscribe Now!

The Arteon “emphasizes emotionality in the upper mid-class,” says a statement from VW accompanying the teaser image. “The four-door fastback impresses both through revolutionary design and great practical value in use.” The statement concludes that “This combination is unique.”

(more…)