VW in trouble

[witchcraftz]

Re: VW in trouble

If it's proven true that all 1.2 to 2.0 engines have the cheat this will kill diesel in NA. Already people frown at it, everyone keeps forgetting how clean it can be when done correctly. I noticed that in France there was already a large amount of plugins, many more than here, perhaps this is how the electric car gets fast tracked...

[Spooling_turbos]

Re: VW in trouble

Who will hurt the most at the end of the day are the rest of the 99% of VW employees who had NO idea about the software and were happily working for a good household name brand VW. Due to slower production many employees will lose their jobs while the ex-CEO and the management get a slap on the hand and a fine. Worst case scenario - VW declares bankruptcy and now all of the employees are jobless while had nothing to do with the crime.
Now what would happen if the CEO and the managers involved here were jailed? Instead of giving out ridiculous fines - start associating jail time with offenses like this. I guarantee you these types of offenses will stop.

[Red90]

Re: VW in trouble

...while the ex-CEO and the management get a slap on the hand and a fine.

The ex-CEO is receiving 60 million Euros in severance pay plus 29 million in a pension.

[Canadian Turbo]

Re: VW in trouble

The ex-CEO is receiving 60 million Euros in severance pay plus 29 million in a pension.

The pension is something that he and the company have paid into on a regular basis like many employees, and Winterkorn worked at VW since the 90s, but I don't think his severance has been settled, but a CEO is often paid to take the fall, comes with the job.

He is also now leaving the Porsche board were he was the chairman of the executive board.

[Canadian Turbo]

Re: VW in trouble

As anticipated yesterday, Volkswagen has posted its first quarterly loss in more than 15 years.

The huge TDI emissions betrayal is being labeled by VAG simply as a “diesel issue” that has affected earnings so far by €6.7 billion which is 0.2€ billion more than what the company original put aside. As a result of the scandal, the Volkswagen Group has posted a quarterly loss of €3.48 billion which is pretty close to the estimation made yesterday by analysts who anticipated a €3.26 billion loss. The situation was almost the exact opposite in the third quarter of 2014 when VW posted a €3.23 billion profit.

Last month, VW Group sales went down by 1.5% compared to September 2014 while deliveries in Q3 dropped by 3.4% to 2.39 million units which is why Toyota is once again on top of the sales rakings with 7.49M units through September whereas VW shifted 7.43M units and General Motors came in third with 7.2M vehicles.

Taking into account the scandal involving 11 million cars with EA189 TDI engines is far from being over, Volkswagen’s financial shape will likely worsen in the following months once the fines will start arriving. In addition, the decreasing sales trend will probably continue since the magnitude of the deceit is significant and some people will likely decide to go for another brand outside the VW empire.

[CGDoig]

Re: VW in trouble

Not good for VW but the turn around will be alright for true VW lovers I think. Curious to see what will happen in years to come.

[Canadian Turbo]

Re: VW in trouble

The U.S. Environmental Protection Agency has determined that thousands of Audi, Porsche and Volkswagen models equipped with a 3.0-liter V6 diesel engine also contain a defeat device.

In the second notice of violation of the Clean Air Act, the EPA informed the automakers that they "developed and installed" defeat devices on a number of models including the 2014 Volkswagen Touareg, the 2015 Porsche Cayenne and the 2016 Audi A6, A7, A8 / A8 L and Q5.

As the EPA explains, Volkswagen "manufactured and installed software in the electronic control module of these vehicles that senses when the vehicle is being tested for compliance with EPA emissions standards. When the vehicle senses that it is undergoing a federal emissions test procedure, it operates in a low NOx 'temperature conditioning' mode. Under that mode, the vehicle meets emission standards. At exactly one second after the completion of the initial phases of the standard test procedure, the vehicle immediately changes a number of operating parameters that increase NOx emissions and indicates in the software that it is transitioning to 'normal mode' where emissions of NOx increase up to nine times the EPA standard."

The EPA says 10,000 models have been sold in the United States since 2014 but the notice of violation also covers an undisclosed number of 2016 models.

In a statement, the EPA's Cynthia Giles said “VW has once again failed its obligation to comply with the law that protects clean air for all Americans." She went on to say “All companies should be playing by the same rules. EPA, with our state, and federal partners, will continue to investigate these serious matters, to secure the benefits of the Clean Air Act, ensure a level playing field for responsible businesses, and to ensure consumers get the environmental performance they expect.”

Her sentiments were echoed by the California Air Resources Board Executive Officer Richard Corey who stated "These tests have raised serious concerns about the presence of defeat devices on additional VW, Audi and Porsche vehicles. Today we are requiring VW Group to address these issues."

[dJ]

Re: VW in trouble

Uh oh.
http://www.engadget.com/2015/11/03/v...ied/#continued

[cam_wmh]

Re: VW in trouble

lol jesus

[witchcraftz]

Re: VW in trouble

The total fines are going to be the biggest ever paid by a company.

In this situation I can see VAG selling of all other companies such as Bentley, Lamborghini, Bugatti and Ducati, keeping only the core VW, Audi and Porsche. The sale would pay for the fines and separate those company's assets from the scandal.

[MechEngg]

Re: VW in trouble

Ooops

[Danaldson]

Re: VW in trouble

In this situation I can see VAG selling of all other companies such as Bentley, Lamborghini, Bugatti and Ducati, keeping only the core VW, Audi and Porsche. The sale would pay for the fines and separate those company's assets from the scandal.

I cant really see anyone buying them until this situation is over though.... What happens if vw also has emissions cheating devices in lambo's/bentley/ducati/porsche. This will all need to be dealt with before they sell.

End of daysss!!!

[CGY_GTI]

Re: VW in trouble

I cant really see anyone buying them until this situation is over though.... What happens if vw also has emissions cheating devices in lambo's/bentley/ducati/porsche. This will all need to be dealt with before they sell.

End of daysss!!!

Porsche is allegedly already involved with the diesel Cayenne, although from what I've gathered, VW hasn't admitted anything there yet.

Either way, I agree with Danny - I can't see them selling their other brands until this is all dealt with. I doubt anyone would want to buy any of them right now anyway. VW, Audi, Porsche, Seat, and Skoda are all involved, the only "clean" brands at the moment are Bentley, Bugatti, and Lamborghini, so 5 out of 8 brands have failed tests - definitely not a good selling point.

As long as this issue doesn't start involving more of the gas-powered vehicles, I'm not too worried... I just don't want the Golf R getting dragged into this!

[cam_wmh]

Re: VW in trouble

Porsche is allegedly already involved with the diesel Cayenne, although from what I've gathered, VW hasn't admitted anything there yet.

Either way, I agree with Danny - I can't see them selling their other brands until this is all dealt with. I doubt anyone would want to buy any of them right now anyway. VW, Audi, Porsche, Seat, and Skoda are all involved, the only "clean" brands at the moment are Bentley, Bugatti, and Lamborghini, so 5 out of 8 brands have failed tests - definitely not a good selling point.

As long as this issue doesn't start involving more of the gas-powered vehicles, I'm not too worried... I just don't want the Golf R getting dragged into this!

Why not? FREE MONYEZ /ambulance.chasers

[bobkatkat]

Re: VW in trouble

None of VWs divisions will look attractive as an acquisition until the stock price falls back to 2004 levels ($21.00). But those levels don't look that far off and it is doubtful that any of this will be sorted out before those levels are back. Interesting though if you look at the the stock price over the last year. It looks like insiders have been selling off since April of this year (the companies highest price/PS $255.00). Price was down 50% before the scandal hit the news in August. Insiders and those in the know were selling off soon after the investigation started. This will go deeper than just the emissions issue.