So the CEO just quit...
Potentially $18Bn max. fines in the US, not accounting for other global fines that are possible.
Share price down 35% in a couple of days.
I think VW recovers from this, but it will take some time for the headlines to die down. What I wonder is:
- If other automakers were rigging the same US emissions tests? Reminds me of LIBOR...
- If this means VW are going to have to tighten their belts to the extent that new car offerings in future suffer, or brands are spun off
What does everyone think?
VW Diesel-gate
VW Diesel-gate
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Re: VW Diesel-gate
Funnily enough thats exactly what I thought. VW = Barclays.FaisalJ wrote:- If other automakers were rigging the same US emissions tests? Reminds me of LIBOR...
Like LIBOR, its going to need hard evidence to prove. Sounds like there was hard evidence from the American vehicle testers when they questioned VW five days ago. VW put their hand up straight away
Could be difficult to prove - I bet every engine nowdays has different maps, goes into maximum economy mode when the throttle is less than half open etc etc. There's got to be clear evidence the map is manipulated to 'shut down' when the car is on a rolling road etc
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