http://www.npr.org/sections/thetwo-way/ ... ns-scandal
Deliberately approved at the executive level. VW just lost customer trust. There are two issues here. Customer fraud and environmental pollution. Wouldn't be surprised if VW total cost is going to be in the billions.
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Into terror!, Into valour!
Charge ahead! No! Never turn
Yes, it's into the fire we fly
And the devil will burn!
- Scarlett Pimpernell
It won't be a surprise for it to reach the billions, it will be a surprise if it doesn't. Ordered to recall 500,000 cars, that will cost money even if just a, "Come into the dealership to have the emissions system given new software." They've admitted approximately eleven million cars have the cheater software so the recall will likely expand. They've now admitted the software was used to cheat on European emissions tests, so EU fines and recalls. The fix will result in lower performance which undoubtedly has class action lawyers drafting suits and hunting for clients.
The next year or two will probably be a really good time to buy VW stock if you're interested in having some. They're big enough they'll undoubtedly pull through but not without publicly administered black eyes.
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Will the transhumanist future have catgirls? Does Japan still exist? Well, there is your answer.
A grand oul assist from the EPA to the Big Three there. The difference between VW and other manufacturers is that VW got caught. Everyone's gaming emissions - other overtly or covertly.
One need only compared the advertised figures with reality.
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--m(^0^)m-- Wot, no sig?
Quote:LilFluff wrote:
It won't be a surprise for it to reach the billions, it will be a surprise if it doesn't. Ordered to recall 500,000 cars, that will cost money even if just a, "Come into the dealership to have the emissions system given new software." They've admitted approximately eleven million cars have the cheater software so the recall will likely expand. They've now admitted the software was used to cheat on European emissions tests, so EU fines and recalls. The fix will result in lower performance which undoubtedly has class action lawyers drafting suits and hunting for clients.
The next year or two will probably be a really good time to buy VW stock if you're interested in having some. They're big enough they'll undoubtedly pull through but not without publicly administered black eyes.
http://www.businessinsider.com/volkswag ... xed-2015-9
Well, looks like it might end up being a buyback.
__________________
Into terror!, Into valour!
Charge ahead! No! Never turn
Yes, it's into the fire we fly
And the devil will burn!
- Scarlett Pimpernell