Rip VW a new one

nitro

nitro

Since he US has become the dumpster of the corporate world.

No senor, we got you by the balls, and you gonna pay.

VW CEO Targets U.S. Settlement Before Government Changeover

Volkswagen AG aims to reach a settlement with the U.S. government over a criminal investigation before a new president takes office on Jan. 20, which would remove a major hurdle as the German carmaker attempts to recover from the diesel scandal.

“Of course we’d wish to have a final decision before the American government -- and with it, the authorities -- change, so that we can have certainty,” Volkswagen Chief Executive Officer Matthias Mueller said on Thursday at a conference in Hamburg. While he’s “disappointed” that the investigations have continued for so long, negotiations with U.S. regulators are “very good,” Mueller said.


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VW is still facing criminal charges in the U.S. after getting approval for a $15 billion civil settlement last month with the Environmental Protection Agency, the California Air Resources Board and disgruntled customers...

https://www.bloomberg.com/news/arti...s-u-s-settlement-before-government-changeover
 
dealmaker said:
VW is a terrible product but I did enjoy the VW short squeeze in 2008....
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I don't know that I consider Porsche, Audi, Bentley, Bugatti, Lamborghini, Ducati, MAN and Scania to be terrible products. SEAT, Škoda and Volkswagen "clean" diesels you can have, but luckily they only make up a small (and now shrinking) part of Volkswagen Group's revenue.
 
Sig said:
I don't know that I consider Porsche, Audi, Bentley, Bugatti, Lamborghini, Ducati, MAN and Scania to be terrible products. SEAT, Škoda and Volkswagen "clean" diesels you can have, but luckily they only make up a small (and now shrinking) part of Volkswagen Group's revenue.
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Bentley, Bugatti, Lamborghini have higher quality standards than VW and are not built in Mexico, Brazil etc...

PS I am referring to the VW cars not the holding company...
 
dealmaker said:
Bentley, Bugatti, Lamborghini have higher quality standards than VW and are not built in Mexico, Brazil etc...

PS I am referring to the VW cars not the holding company...
More...
In that case, definitely agree!
 
Volkswagen Scandal Widens as Germany Probes Chairman Poetsch


Aaron Ricadela

November 6, 2016 — 6:11 AM CSTUpdated on November 6, 2016 — 9:45 AM CST
  • Prosecutor investigating alleged market manipulation
  • Bild newspaper says California found defeat software in Audis
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Volkswagen AG’s troubles widened Sunday as supervisory board Chairman Hans Dieter Poetsch became enmeshed in the probe into the company’s emissions scandal and a prominent German newspaper reported that U.S. testers found defeat software in Audi cars this summer.

The carmaker said the public prosecutor’s office in Braunschweig near its Wolfsburg headquarters extended its probe for alleged market manipulation to Poetsch, who becomes the second current board member to be targeted. Poetsch and VW are supporting the inquiry, which relates to the period when he was chief financial officer, the company said in a statement.

Management "fulfilled its disclosure obligation under German capital markets law," VW said.


The disclosure is the latest dose of bad news for the iconic German automaker, mired in a scandal over software designed to cheat on emissions tests by operating cars differently under inspection than while being driven. The scandal has cost former Volkswagen CEO Martin Winterkorn his job, sliced VW’s market value, and has the company staring at a $14.7 billion settlement covering 2.0-liter engine cars in the U.S.

U.S. Remedy..

http://www.bloomberg.com/news/artic...dal-widens-as-germany-probes-chairman-poetsch
 
OMG, VW needs to go to zero:

U.S. regulator found another cheat device in Audi car - report
7 / 26

Reuters
12 hrs ago
BBlVKGV.img

© Audi Audi A4
A U.S. regulator found software in some Audi vehicles that lowered their carbon dioxide emissions if it detected they were being used under test conditions, Bild am Sonntag reported.


QUOTES IN THE ARTICLE
Audi AG
AUDVF

▲
686.30
+14.55
+2.17%

Volkswagen AG
VLKAF

▼
141.00
-1.45
-1.02%


The California Air Resources Board (CARB) discovered the software in an automatic transmission Audi last summer, the German weekly newspaper said, without citing any sources.

CARB and Audi declined to comment on Sunday's Bild am Sonntag report.

The paper said the device, which was not the same as the one which triggered last year's diesel emissions scandal at Audi parent Volkswagen, was also used in diesel and gasoline-powered cars in Europe.

VW's admission that it had installed software that deactivated pollution controls on more than 11 million diesel vehicles sold worldwide, triggered the deepest business crisis in the German carmaker's history.

Audi, the main contributor to VW group profit, has also admitted its 3.0 litre V6 diesel engine was fitted with emissions-control software.

Bild am Sonntag said the software discovered by CARB, which was installed in vehicles with certain automatic transmissions, detected whether a car's steering wheel was turned.

If it was not, indicating laboratory testing conditions, the software turned on a gear-shifting programme which produced less carbon dioxide than in normal road driving. If the wheel was turned in any direction by more than 15 degrees, the programme was switched off, thepaper said.

Audi stopped using the software in May 2016, just before CARB discovered the manipulation in an older model, the paper said, adding that the carmaker had suspended several engineers in connection with the matter.

Bild am Sonntag said a spokesman for Audi had declined to comment, citing ongoing talks with U.S. and California regulators on a proposed fix for cars with 3.0 litre engines. (Reporting by Maria Sheahan; Additional reporting by Andreas Cremer and Joe White; Editing by Alexander Smith and Adrian Croft)

http://www.msn.com/en-us/money/comp...vice-in-audi-car-report/ar-AAjXcsZ?li=BBnb7Kz
 
I still don't understand how WV people thought they could get away with cheating the way they did and that they wouldn't get caught.
 
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