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Volkswagen (VW) VW software scandal: chief apologises for breaking public trust

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  1. #21

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    Why Volkswagen’s share price has fallen so far | The Economist

  2. #22

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    i have a suspicion this is an industry wide scandal.

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  3. #23

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    Quote Originally Posted by dumbdonkey:
    i have a suspicion this is an industry wide scandal.
    Probably a safe bet. I remember buying a car in 2006 and noticing the stated MPG were way down from the previous year on same model vehicle. Salesman told me the U.S. EPA made mileage testing stricter to better reflect real-world performance . . . the automakers have been manipulating the numbers as long as there have been numbers to manipulate. There isn't even a standardized way to measure horsepower.

  4. #24

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    Quote Originally Posted by shri:
    Would certainly be buzzard, if the fines and criminal prosecutions in this case were to exceed the ones that were handed out to the banks for rigging the home mortgage market.
    Could be an opportunity for the US authorities to come down hard on VW as a form of protectionism for GM and Ford. VW's self-inflicted mistake here is a golden opportunity to limit VW's expansion in the US.

    Sure, VW hires substantial number of American workers too. If the authorities come down too hard on VW, it would also cost American jobs. But perhaps the US is aiming to knock down VW just enough to keep it from capturing to much market share but at the same time not going so far as to trigger mass layoffs at VW's US operations.

  5. #25

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    What I meant to say was - look at the fines and look at the threats of criminal prosecution and you know that these guys have not bought off as many regulators and law makers as the banks have. Was not implying protectionism in any case.

    Ford / GM sell close to as many vehicles in Germany as VW sells in the US.

    And keep in mind that Germany controls the EU. I don't think any of these clowns are looking for a trade war on either side of the pond.

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  6. #26

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    Volkswagen Hires Kirkland & Ellis in Pollution Controls Scandal


    http://www.bloomberg.com/news/articl...ntrols-scandal


  7. #27

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    Oversold, apparently:

    http://www.fool.com/investing/genera...de-in-yet.aspx

    I bought too early, but I am tempted to buy some more.

    Last edited by Liked; 23-09-2015 at 03:25 PM.

  8. #28

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    Up 11% from the lowest point this morning (from 98.245 to 109.12). I think people realise it has been oversold.

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  9. #29

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    Quote Originally Posted by dumbdonkey:
    i have a suspicion this is an industry wide scandal.
    Yesterday VW said that 11m cars worldwide were equipped with similar test-fooling software and that it was setting aside €6.5 billion ($7.3 billion) for the costs of the scandal. But VW’s behaviour is not unique. Though other carmakers may not have duped American examiners, most routinely fiddle Europe’s looser regime for both emissions and fuel economy. Software that detects when cars are being tested is said to be common.
    https://espresso.economist.com/da8ad...scn%2Fesp%2Ffb

  10. #30

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    Martin Winterkorn resigns as Volkswagen CEO

    http://www.cnbc.com/2015/09/23/marti...wagen-ceo.html

    Cho-man likes this.

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