‘World’s Poorest President’ Gets $1 Million Offer For Old VW Beetle

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Uruguay’s President Jose Mujica walks in front of his garage (Reuters / Andres Stapff)

World’s poorest president’ gets $1mn offer for old VW Beetle (RT, Nov 7, 2014):

An Arab sheikh seems to think the ‘world’s poorest president,’ Uruguay’s Jose Mujica, is in dire need of cash. He’s offered $1 million for Mujica’s iconic 1987 VW Beetle – but the pot-smoking leader says he will donate the money to the homeless instead.

“I didn’t give it any importance,” the humble ex-guerilla leader told a news conference, after the Uruguayan weekly Busqueda broke the story. He added that he has “no commitment to cars” and joked that his three-legged dog, Manuela, was pretty much the prime reason for holding on to the vehicle for so long.

Apparently it was Mexico’s ambassador to Uruguay who earlier suggested that Mujica sell off the car. They joked about how he could get 10 4WD trucks for the money, according to an anonymous source within the embassy.

Read more‘World’s Poorest President’ Gets $1 Million Offer For Old VW Beetle

European Car Sales Drop To 20-Year Low

European Car Sales Drop To 20-Year Low, Germany Clobbered (ZeroHedge, June 18, 2013):

When the S&P, always so conveniently ahead of the curve, yesterday revised its forecast for Europe from growth in the second half of 2013 to 2014 one couldn’t help but golf clap, as well as wonder if they finally started looking at the fundamental depressionary reality on the ground instead of the rating agency’s infamous “models.” A depressionary reality confirmed by the latest car sales number for May which just hit a fresh 20 year low.

From AP:

European car sales hit their lowest level for the month of May in 20 years as the region’s recession dragged on, the European automakers’ association said Tuesday.

They meant depression instead of recession, but it’s an honest mistake.

Read moreEuropean Car Sales Drop To 20-Year Low

Study: Audi, BMW And VW ‘Among Worst For Engine Failures’

Hmmh.


Audi, BMW and VW ranked in the bottom 10 of a study into engine reliability



German cars ‘among worst for engine failures’ (Auto Express, Jan 18, 2013):

German-made cars are not as reliable as many believe, according to new research. Warranty Direct has studied its claims data to compile a list of the manufacturers with the most reliable engines – and Audi, BMW and Volkswagen all finished in the bottom 10 out of a total 36 makers.

In fact, the only firm whose cars had a worse engine failure rate than Audi was MG Rover. MINI wasn’t much better, finishing third from bottom, while its parent company BMW came seventh from bottom. And, despite its reputation for rock-solid reliability, Volkswagen came ninth from bottom.

Read moreStudy: Audi, BMW And VW ‘Among Worst For Engine Failures’

Unprecedented Implosion Of European Car Sales (Chart Of The Day)

Chart Of The Day: The Unprecedented Implosion Of European Car Sales (ZeroHedge, Dec 4, 2012):

The graphic below, which presents an unvarnished picture of Europe’s true economic state, needs no explanation:


Source: FT

In the context of the above, no explanation is also needed that quietly, and without much fanfare, French car-maker, Peugeot, and Europe’s second largest after VW, was recently GMed, and received a government bailout.

Carmaker Peugeot gets $9.1B government bailout

The French government has agreed to underwrite up to €7 billion ($9.1 billion) of bonds issued by Banque PSA Finance SA, the financing unit of carmaker PSA Peugeot Citroen SA, allowing the French automaker to offer low-cost credit to its dealerships and clients amid a slump in sales.

Read moreUnprecedented Implosion Of European Car Sales (Chart Of The Day)

Here’s a Corporate Tax Loophole a Porsche Could Drive Through

Here’s a Corporate Tax Loophole a Porsche Could Drive Through (Daily Finance, July 9, 2012):

For years, much of the tax-paying American public has been appalled by the loopholes that U.S. corporations and rich individuals use to reduce their tax liability to the IRS.

Read moreHere’s a Corporate Tax Loophole a Porsche Could Drive Through

U.S. Government Blocks Sales Of Fuel-Efficient Cars

Flashback:

Who Killed The Electric Car? (Documentary)


U.S. Government blocks sales of fuel-efficient cars (Natural News, June 15, 2012):

The development of affordable “green” cars and trucks – electric vehicles or hybrids designed to dramatically curb the nation’s reliance on fossil fuels – is supposed to be a primary goal for the Obama administration and a number of government and industry leaders. But what about diesel-burning vehicles that already get more than 70 miles a gallon?

Yes, you read that right. There are already vehicles on the road – nice vehicles, not bread boxes with weed-eater motors on wheels – that get better than 70 miles to a gallon of diesel fuel. Only, you can’t buy one here in the United States. More on that later.

Read moreU.S. Government Blocks Sales Of Fuel-Efficient Cars

VW Passat BlueMotion Sets New World Record After Going 1,527 Miles Without Refueling

Gavin Conway, writer for the Sunday Times, buckled into a Volkswagen Passat BlueMotion and embarked on a journey. This trip was not your typical Sunday jaunt, nor was it what we’d call a grocery run. Let’s just say that Conway had Guinness World Record visions dancing in his head. Followed by independent representatives who verified the run, Conway and the Passat hit the French roads and never looked back.

Powered by a 1.6-liter common rail TDI engine with stop-start technology and equipped with low-rolling resistance tires, longer gearing and aerodynamics modifications, the Passat BlueMotion is one heck of an example of efficient motoring and Conway’s drive put the vehicle’s fuel-sipping abilities to the test. Conway hit the French autoroutes to determine just how far the efficient Passat could travel on a single tank, which holds 20.4 gallons of diesel. During his three-day record-setting run, Conway averaged 45 miles per hour and discovered that the BlueMotion’s efficiency was simply amazing. After completing the journey, the Volkswagen Passat clocked 1,526.63 miles, setting a Guinness World Record for the longest distance traveled by a production passenger car on a single tank of fuel; the 74.8 miles per gallon (U.S.) it got ain’t too shabby either. Hit the jump for more on the Passat BlueMotion’s record-setting run.

[Source: Volkswagen | Image: Media Inventions Ltd.]

PRESS RELEASE

1,527 MILES ON ONE TANK: PASSAT BLUEMOTION SETS NEW WORLD RECORD

A Volkswagen Passat BlueMotion has set a new Guinness World Record for the longest distance travelled by a standard production passenger car on a single tank of fuel.

The attempt, carried out by a team from The Sunday Times, involved driving from Maidstone in Kent to the South of France and back. The Passat BlueMotion finally ran out of fuel close to Calais after completing a distance of 1,526.63 miles.

The route mainly followed French autoroutes, but included some town driving, resulting in an average speed of just over 45 mph.

Read moreVW Passat BlueMotion Sets New World Record After Going 1,527 Miles Without Refueling

UK: Sewage Powered VW Beetle Hits The Road

See also:

Volkswagen introduces world’s most economical car

Water Powered Car: 1 Liter of Water for 80 km


A Volkswagen Beetle powered by gas from sewage has taken to the road for the first time in Britain.

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The converted Beetle car that runs on methane gas Photo: SWNS

The Bio-Bug was launched on Thursday by Wessex Water, which is generating methane from human waste at a sewage treatment works near Bristol.

The company claims the prototype is able to cover 10,000 miles annually on the waste from 70 households.

If the trial proves successful, Volkswagen will consider converting some of its fleet of vehicles to run on biogas.

Read moreUK: Sewage Powered VW Beetle Hits The Road

VW shares slumped over 40% in the last 10 trading days

VW shares fell 13,98% today.

3 Months: (Durchschnitt = Average)
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Hedge funds build up short bets on VW again

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A new Volkswagen UP! car is seen during the ceremonial announcement of the New Small Family vehicles production at the Volkswagen car manufacture plant in Bratislava June 2,2009. (REUTERS)

LONDON (Reuters) – Hedge funds have increased their bets on a fall in voting shares in Europe’s biggest carmaker Volkswagen, according to data on Tuesday, despite the heavy losses suffered by such funds last year.

Hedge funds shorting VW (VOWG.DE) were caught out in October when VW shares more than quadrupled after Porsche announced it had effective control of 74.1 percent of VW.

This left less than 6 percent tradeable in the market and saw funds scrambling to cover their positions.

Nevertheless, figures from Dataexplorers on Tuesday show that stock out on loan — a good indication of short interest — for VW’s ordinary shares has doubled in the past month to 2 percent of total issuance.

Read moreVW shares slumped over 40% in the last 10 trading days