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Fiat Is the Car of Choice for Pope Francis – U.S. News & World Report

Wednesday, September 23, 2015

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Volkswagen Scandal Opens Door to Possible Fiat Takeover – TheStreet.com

Wednesday, September 23, 2015

Updated from 8:31 a.m. EDT to include resignation of Volkswagen’s CEO. NEW YORK (The Deal) – Fiat Chrysler Automobiles  (FCAU) has vocally sought a merger partner. Volkswagen (VLKAY)  is suddenly reeling. Don’t be surprised if Fiat CEO Sergio Marchionne makes a move. Germany’s VW has lost nearly $30 billion in market capitalization — about one third of its total — this week after admitting that more than 11 million vehicles had software…

Pope Francis loves America and Fiat Chrysler vehicles – Detroit Free Press

Wednesday, September 23, 2015

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Not Just Volkswagen: A List of Past Auto Industry Scandal – Inc.com

Wednesday, September 23, 2015

With Volkswagen’s admission that 11 million of its diesel vehicles worldwide contain software that can rig emissions tests, the German automaker joins a list of auto industry scandals that spans several decades. Among them, Ford Pintos that burst into flames, Toyota vehicles that take off unintentionally and air bags that explode, showering a car’s interior with shrapnel. FORD PINTO At least 27 people died during the 1970s due…

Volkswagen CEO quits over ‘grave crisis’ – CNNMoney

Wednesday, September 23, 2015

Volkswagen chief executive Martin Winterkorn resigned Wednesday as a growing scandal over falsified emissions tests rocked the world’s biggest carmaker. “I am doing this in the interests of the company even though I am not aware of any wrongdoing on my part,” Winterkorn said after an emergency meeting with Volkswagen directors. Winterkorn, 68, was Volkswagen (VLKAY) CEO for eight years. The German company, which also owns the Audi and Porsche…

Europe bounces back amid China fears, Volkswagen up 7% – CNBC

Wednesday, September 23, 2015

“The process of clarification and transparency must continue. This is the only way to win back trust. I am convinced that the Volkswagen Group and its team will overcome this grave crisis,” Winterkorn said on Wednesday. The board has yet to announce a successor to 68-year-old Winterkorn. However, rumors earlier suggested he might be replaced by Porsche CEO and President Matthias Muller, although Volkswagen has denied this….

Volkswagen hires BP oil spill lawyers to defend emissions cases – The Guardian

Wednesday, September 23, 2015

Volkswagen has hired the US law firm that defended BP after the Deepwater Horizon oil disaster to help it deal with a growing collection of investigations and law suits over the emissions scandal that has rocked the car maker and dragged in the German government. The hiring of Kirkland & Ellis emerged as the German government admitted that it already knew about “defeat devices” that can cheat emissions tests. Written…

Volkswagen’s Diesel Fraud Makes Critic of Secret Code a Prophet – New York Times

Wednesday, September 23, 2015

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Volkswagen and the Era of Cheating Software – New York Times

Wednesday, September 23, 2015

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Safety Agency to Shift Gears on Auto Industry Self-Certification – NBCNews.com

Wednesday, September 23, 2015

Following a series of deadly scandals, and now Volkswagen’s attempt to cheat on federal emissions standards, the U.S. government will be less accepting of auto industry claims, especially when it comes to self-certified testing, warns the top federal vehicle safety regulator. “We’re questioning everything now,” said Mark Rosekind, director of the National Highway Traffic Safety Administration, during an appearance Tuesday at an industry conference in the Detroit suburb of Novi….

Scandal-tarred Volkswagen tries to contain crisis – CNNMoney

Wednesday, September 23, 2015

Volkswagen directors were meeting in crisis session Wednesday as the world’s biggest automaker tried to limit the damage of its emissions cheating scandal. A committee of the company’s supervisory board, including shareholder and employee representatives, was meeting to prepare for a full board meeting on Friday, a source familiar with the situation told CNN. The company declined to comment. Volkswagen has been rocked by the scandal, which broke Friday when…

Volkswagen CEO Faces Board Showdown as Diesel Scandal Widens – Bloomberg

Wednesday, September 23, 2015

Volkswagen AG Chief Executive Officer Martin Winterkorn will get a chance to make his case before the executive committee of the automaker’s supervisory board on Wednesday in a scandal over rigged diesel engines that’s wiped out about one-third of the company’s value. A critical point in the discussion will be what Winterkorn knew about a scheme intended to dupe regulators and consumers about emissions of diesel engines installed in 11…

The Unassuming Engineer Who Exposed Volkswagen – Huffington Post

Tuesday, September 22, 2015

By David Morgan MORGANTOWN, West Virginia, Sept 22 (Reuters) – Daniel Carder, an unassuming 45-year-old engineer with gray hair and blue jeans, appears an unlikely type to take down one of the world’s most powerful companies. But he and his small research team at West Virginia University may have done exactly that, with a $50,000 study which produced early evidence that Volkswagen AG was cheating on U.S. vehicle emissions tests,…

How Volkswagen Can Salvage Its Wrecked Reputation – WIRED

Tuesday, September 22, 2015

Volkswagen is in big trouble. That’s what happens when you knowingly mislead the world’s governments and your customers about a key feature of your primary product. In this case, it’s the two-liter “clean diesel” engines used in more than 10 million VW and sister brand cars over the past decade. Volkswagen has admitted to illegally using software to manipulate exhaust emissions during government testing. When driving on the road, the…

Inside The Most Awkward Volkswagen Party In The World – Jalopnik

Tuesday, September 22, 2015

At any big, flashy new car release, you expect to be accosted by public relations people all wearing name tags. “How do you like it?” they normally ask, or “Isn’t this exciting?” After I spent a few minutes milling around the entrance to the unveiling of the Volkswagen Passat last night, a security guard walked up to me. “Are you supposed to be here?” I wasn’t sure how to answer…

Volkswagen’s Diesel Fraud Makes Critic of Secret Code a Prophet – New York Times

Tuesday, September 22, 2015

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Volkswagen Admits ‘Defeat Device’ On 11 Million Engines Worldwide, Sets Aside … – Jalopnik

Tuesday, September 22, 2015

Things just went from catastrophic to apocalyptic as Volkswagen just admitted that the emission test cheating engine management software at the center of the Dieselgate controversy is installed in 11 million Volkswagen Group cars worldwide. They also say they’ll set aside $7.2 billion in just the third quarter to cover this mess. http://jalopnik.com/volkswagen-is-… Volkswagen Is Screwed Volkswagen Is Screwed Volkswagen Is Screwed Good reporting is often just aggressive skepticism, and…

Pope Francis begins USA tour in low-priced Fiat – Fox News

Tuesday, September 22, 2015

 (AP) Pope Francis started his big American trip with a little Italian style. After the Pontiff landed at Joint Base Andrews and was greeted by President Obama, he slipped into the backseat of a Fiat 500L sporting the Vatican’s SCV 1 license plates, for Stato della Città del Vaticano, or State of Vatican City. It was not immediately clear if the Serbian-made vehicle was supplied by the Vatican Embassy’s motor…

Fiat 500L: Good choice for frugal Pope – CNNMoney

Tuesday, September 22, 2015

What was that bulbous-looking car that whisked Pope Francis away from the tarmac on Tuesday? A Fiat 500L by Fiat Chrysler Automobiles. In fact, the Pope is making good use of Fiat Chrysler wheels on his visit to the United States. The 500L is big brother to the more familiar Fiat 500 mini car. Prices start at about $20,000. Unlike the Fiat 500, which would have been entirely impractical for…

Auto Stocks Skid on Volkswagen – Wall Street Journal

Tuesday, September 22, 2015

The Volkswagen emissions scandal hit shares of auto companies hard Tuesday, as investors sold everything from makers of auto parts to car manufacturers. Volkswagen AG shares tumbled nearly 17% in Europe on Tuesday, bringing its losses so far this week to 31%. The German company said Tuesday that as many as 11 million vehicles around the world have the software allegedly used to cheat emissions tests and disclosed it would…