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After debuting in the Panamera this new engine will spread across the VW Group.

Porsche has a new V8 based loosely on the architecture of Audi's turbo 3.0-liter V6, according to Car and Driver.

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It might not even be possible for VW to fix its polluting diesels, according to an official from the California Air Resources Board. The regulator may seek a compromise.

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They knew about diesel emissions issue way back in 2014.

Volkswagen admits that Martin Winterkorn received at least two memos advising him about the diesel emissions problem well before the scandal became public.

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Two weeks before it became public, the diesel defeat device was known to VW CEO.

A German report claims that Martin Winterkorn received a letter admitting to the defeat devices two weeks before the diesel emissions scandal went public. This was just the latest allegation that the automaker knew about the problem ahead of time but didn't tell the public.

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In March, Lamborghini CEO Stephan Winkelmann becomes the new leader of Quattro GmbH, which runs development of Audi's R and RS models. Former Scuderia Ferrari team principal Stefano Domenicali takes Winkelmann's place as the boss at Lambo.

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Volkswagen will delay releasing its 2015 financial report because the company will need more time to figure out the true cost of its diesel emissions scandal.

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CARB Must Accept Plan Before Recall Could Start

VW has a recall plan for the 3.0-liter V6 diesel, but CARB and the EPA still need to test the solution before a recall could start.

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Volkswagen says its diesel problems began in the US with the development of the EA189 engine in 2005, but there's no fix here yet.

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If VW can't pay back its $21 billion in loans on time, it might have to sell important assets like Bentley or Lamborghini.

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Emissions Scandal Will Hit Audi And Skoda Brands As Well

In India, Volkswagen must recall over 300,000 diesel vehicles as part of the latest expansion of the company's global emissions crisis.

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Audi will submit a software emissions fix for VW Group's 3.0-liter TDI V6 for the approval of the EPA and CARB. The solution could end the automaker's problem with that engine in the US.

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Volkswagen Group design chief Walter de Silva will retire from the company at the end of November after leading styling there since 2007.

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Winfried Vahland is leaving VW Group just weeks before he's scheduled to take over the company's new North American region, due to a difference of opinion on how things should be run.

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Audi has 2.1 million diesel vehicles worldwide with emissions-evading software, some of those are in the US.

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Supervisory Board Announces Massive Corporate Restructuring

Matthias Muller is officially the new VW Group CEO, but the company's supervisory board is instituting sweeping changes to the corporate structure. Michael Horn remains the boss in the US, but North America is now organized into a new business unit under the current Skoda chairman.

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Volkswagen admits that 11 million diesel vehicles worldwide could have software capable of avoiding emissions compliance. The EPA is now checking the 3.0-liter V6 in Porsche and Audi models to make sure it's not affected as well.

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Despite the Volkswagen Phaeton suffering poor sales and losing money, Volkswagen is committed to the idea and wants to build another generation of the luxury sedan. It could cost the company an estimated $737 million to do it, while already having the Audi A8 to fill a similar role.

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"For sure, these two companies have a natural attraction to each other." –John Krafcik

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Crossovers are one of the dominant global vehicle segments of the moment, and Volkswagen is realizing that to grow sales as quickly as it wants, the business needs more of them in the lineup. However, the US might miss out on some of this CUV bonanza because the company is still waffling over where to build the Crossblue.

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Financially, things are looking up for Volkswagen Group overall, yet deliveries are still falling in the Americas. Worldwide, the automotive giant's profits after taxes rose 26.8 percent in the first quarter of 2014 to 2.47 billion euros ($3.4 billion). Total sales revenue was up 2.7 percent to 47.8 billion euro ($66 billion).

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It's a good time to be in the luxury car business. In Volkswagen Group's financial report for the 2013 fiscal year, it is revealed that that Porsche enjoyed an operating margin of 18 percent. That means the Stuttgart brand made on average about $23,200 per car sold, according to BusinessWeek. Bentley wasn't far behind, and Audi (which was combined with Lamborghini) posted a 10.1 percent margin. This compares to only around 2.9 percent for the Volkswagen brand.

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