VAG in crisis due to its diesel scam

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Eleven 99 said:
Even ignoring the fines and law suits, they'll need to install a fix on ~11 million cars worldwide.
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You are correct on the fine situation which is why I stated "Speculative," however the EPA does not have its hands on worldwide autos, I am sure they want to but they are an American Agency "that loves to put our American currency into the pockets of foreign oil" they do not have emissions jurisdiction over the rest of the world, if they did Europe would be filled with gas vehicles rather than the mass amount of small displacement diesels where their emissions are parts/mile vs our EPA's awesome mandated parts/million. Somehow the EPA has figured out that it is better to burn more fuel/mile and introduce harsh chemicals and toxic metals for better emissions-->scam, vs the rest of the world where they go farther on a gallon of gas which and have better emissions..
 
crazyduc996 said:
You are correct on the fine situation which is why I stated "Speculative," however the EPA does not have its hands on worldwide autos, I am sure they want to but they are an American Agency "that loves to put our American currency into the pockets of foreign oil" they do not have emissions jurisdiction over the rest of the world, if they did Europe would be filled with gas vehicles rather than the mass amount of small displacement diesels where their emissions are parts/mile vs our EPA's awesome mandated parts/million. Somehow the EPA has figured out that it is better to burn more fuel/mile and introduce harsh chemicals and toxic metals for better emissions-->scam, vs the rest of the world where they go farther on a gallon of gas which and have better emissions..
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It was VW's own admission that they may need issue a recall for up to 11 million autos worldwide. The EPA was only concerned with the 500,000 sold in the US market.
 
Eleven 99 said:
Which is why nobody felt sorry for them when they were fined. Why feel sorry for VW?
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Because it is still speculation. It has not been proven. It was proven GM did it. If they prove VW did it then hammer away but until then it looks odd that they are trying to fine them without hard evidence and that the fine is way more than GM with the evidence of negligent homicide that GM commited.
 
b9009b said:
Because it is still speculation. It has not been proven. It was proven GM did it. If they prove VW did it then hammer away but until then it looks odd that they are trying to fine them without hard evidence and that the fine is way more than GM with the evidence of negligent homicide that GM commited.
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How is it speculation when VW admitted to it?
 
Eleven 99 said:
How is it speculation when VW admitted to it?
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When did they admit it? By firing a bunch of upper people? That could be an admission of guilt or movement to say we did something as soon as you brought it to our attention.
 
b9009b said:
When did they admit it? By firing a bunch of upper people? That could be an admission of guilt or movement to say we did something as soon as you brought it to our attention.
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:confused::confused::confused:


The scandal broke Friday, when U.S. regulators said the German company had programmed some 500,000 vehicles to emit lower levels of harmful emissions in official tests than on the roads.

Volkswagen stunned investors Tuesday by admitting that the problem was much bigger than that: internal investigations had found significant discrepancies in 11 million vehicles worldwide.

"Millions of people all over the world trust our brands, our cars and our technology. I am deeply sorry we have broken this trust," said CEO Martin Winterkorn. "I would like to make a formal apology to our customers, to the authorities, and to the general public for this misconduct."
The company set aside 6.5 billion euros ($7.3 billion) to cover the cost of recalls and other efforts to limit the damage, trashing its profit forecast for the year in the process.
 
DynastySS said:
:confused::confused::confused:


The scandal broke Friday, when U.S. regulators said the German company had programmed some 500,000 vehicles to emit lower levels of harmful emissions in official tests than on the roads.

Volkswagen stunned investors Tuesday by admitting that the problem was much bigger than that: internal investigations had found significant discrepancies in 11 million vehicles worldwide.

"Millions of people all over the world trust our brands, our cars and our technology. I am deeply sorry we have broken this trust," said CEO Martin Winterkorn. "I would like to make a formal apology to our customers, to the authorities, and to the general public for this misconduct."
The company set aside 6.5 billion euros ($7.3 billion) to cover the cost of recalls and other efforts to limit the damage, trashing its profit forecast for the year in the process.
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DAMNNNNNNNN Ok, the last thing i read was the EPA was accusing them not that they admitted it. My bad I guess I should read the paper every morning like old people.
 
The wife drives a 2012 Jetta TDI. I am interested what we will hear from VW in the coming months... Personally I could care less about the emissions. We have been very impressed with roughly 51mpg on the highway after 70k miles so far.
 
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I'm guessing here but lets say VW is 25% of the Group. Knocking out one quarter of profits means they achieved 75% of goal, depending on all the other business units. I'd say that is a setback for investors, no doubt. More restructuring and change of focus is coming up by my estimation.

I'm actually thinking that VW is more like 50% of the business, actually. This is scary for them I'm sure!
 

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