Former VW CFO Investigated by German Prosecutors

Hans Dieter Potsch, former VW finance chief and current supervisory board Chairman, is now the target of a German investigation.

The investigation centers around suspected market manipulation and came about as a result of the TDI scandal that rocked Volkswagen.

The investigation that Potsch is now being included in is the same one that investigated former VW CEO Martin Winterkorn and brand chief Herbert Diess.

“Based on a thorough examination by internal legal experts, the company reaffirms its belief that VW’s management fulfilled its duties to inform the capital market,” said VW in a release.

The Porsche and Piech families, who are behind Porsche SE, the holding company that has a controlling share of VW, are publicly supporting Potsch.

The investigation comes at a bad time for VW, which is facing criticism for arguing last week that its defeat device did not contravene European law.

Moreover, a report this weekend alleges that another cheat device, distinct from those involved in the TDI scandal, has been found in the Audi A6, Q5, and more.

[source: Automotive News]

The post Former VW CFO Investigated by German Prosecutors appeared first on VWVortex.

from VWVortex http://ift.tt/2fvShr5
via IFTTT

Comments

Project SportWagen: Going Stage 2 with APR

When we last left you, the humble little SportWagen was fresh from the development process with our friends at AWE Tuning, sporting a new downpipe, exhaust and intake, allowing things to breathe a bit easier. The car sounded great, but there was no getting around the fact that our wagon was still quite, well, slow. While we realize that nothing we do to the Golf SportWagen at this point will make it a race car, we still felt compelled to do something . To put it bluntly, we had a fever, and the only cure was more power. Flash forward a few hours, and we found ourselves at Waterfest, staring down APR’s palatial spread and the numerous tuned vehicles surrounding it. Earlier in the year, APR had hinted to us that their 1.8 TSI files would be quite impressive, and based on what they were able to do with the 2.0 TSI found in the new GTI and our time in their Golf R, we knew it’d be worth the wait. So with this in mind, we lined our G...

Volkswagen’s Gone to California with Grand California Camper

Volkswagen is bringing the California XXL concept to production. It will debut at the Dusseldorf Caravan Salon as the Grand California. It’s set to be based on the medium wheelbase Crafter van. That’s the company’s full-size commercial van, larger than the T6 Transporter based California. The high roof means room for adults to stand up, though it won’t get the concept’s extended length. The Grand California offers a full wet bathroom. It’s not exactly spacious, though, measuring in at around 31.5 x 33-inches. A toilet, shower, and sink are all crammed into that space, but at least there are motion sensor lights to stop you from reaching for a switch. Standard, the Grand California it comes with berths for two adults. Space for two children is optional, but they’ll be stuck in a berth amove the driver’s area. The kitchen offers a sink, stove, and two fridges. The front seats swivel to add seating space when the RV is parked. It’s also got solar panels, an integrated satellite dish,...

Volkswagen Group Records Best Ever First-Half-of-Year Sales

With 5.5 million vehicles in customer hands after the first six months of 2018, the Volkswagen Group is seeing the best performance of its history. Group deliveries increased significantly in all core regions,” said Fred Kappler, head of sales for the Group. “Our core brands recorded strong growth in the first half year.” For the year-to-date, all of Volkswagen’s brands had sales bumps. MAN, SEAT, and Skoda led the sales charge with performances 24%, 17% and 11% better than the previous year. The big sellers, too, had strong sales periods, with Volkswagen Commercial Vehicles, Audi, and Volkswagen sales rising 3.5%, 4.5% and 6.3% respectively. That last figure is particularly good new for the board, since Volkswagen alone sold more than 3 million vehicles in the first half of 2018. As Kappler stated, the numbers are equally good when you break sales down by region. Brazil and Russia were the most improved markets (22% and 20%, respectively), while strong sales in Europe and China (u...

Vorderman Volkswagen

Search This Blog