WEDNESDAY: Volkswagen AG is unlikely to be setting off with that of US authorities indulging it into turmoil of diesel scandal.
Las Vegas: In an event of Consumer Electronics Show, auto manufacturer’s executive, Herbet Diess spoke high of his spirit:
“We are confident we will find good solutions for the affected U.S. vehicles. In recent weeks we’ve made significant progress.”
MONDAY: No wonder, his comments were totally opposite to what Environmental Protection Agency had stated earlier on a recall for vehicles fitted with software to cheat on emissions tests haven’t produced an acceptable way forward.
“VW has consistently underestimated the seriousness of its troubles in the U.S. It has overestimated its ability to control the outcome in a country where its clout is far less than in its home country.” – Business professor at the University of Michigan, Erik Gordon
After clearing European regulatory boundaries, the German car manufacturer has been a victim of criticism since nearly four months of time span in America that had revealed auto firm’s efforts to deliberately cheat on emissions tests.
For most vehicles, software upgrades will avail, while others will get a tube with mesh on one end to regulate air flow.
“The solutions for Europe and the U.S. are “difficult to compare, because we have different technologies. It will be a bit more complex in the United States. We think we have a very attractive portfolio coming. There will be a huge new-product offensive after we get through the crisis.” – Herbet Diess
On overviewing annual scale of year 2015, Australians bought 60,000 new Volkswagen vehicles bullish with 10% from 55,000 in year 2014.
Volkswagen shares bearish with 2% at 119 Euros on 2:23 p.m. in Frankfurt. The company has lost about 14 billion euros (i.e. US$ 15 billion) in value since the cheating became public in September.
