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German justice finally put a fine of 1 billion € on VW.
VW did not reject but accept - means they admit to be responsible in Europe to to have betrayed clients, ministers and worked against environment.
The money has to be paid within 6 weeks to Niedersachsen - where the investigation was made.
Just to know: All other trials in Europe are nor halted or affected - clients may push more on VW which will result in more payments out of the cash box of VW.
There are millions of vehicles in Europe that are belching out far more Nitrous Oxide from burning diesel fuel, than what was once believed. The great lie by all of the auto manufactures was that they had developed diesel technology that was somehow cleaner than regular gasoline technology. It wasn't...and they got caught when someone in California discovered how the cheating devices worked on the VW's. And all of the auto makers were doing it.
But, is that what is causing the huge rise in ground level Nitrous Oxide pollution in European cities?
Is there also cheating in the testing of CO2/N2O emissions from private and commercial jet aircraft that are burning diesel-like fuels in the atmosphere over the planet? Is what is happening to VW a red herring to divert everyone's attention away from a much larger pollution issue? An issue that all of the World's governments know exist, but don't want made public...because they don't have a ready alternative to commercial jet traffic for fast transportation of goods.
The personal pression on Audi chief Stadler was increasing in the last weeks. Now an end of this came up this morning: the police arrested the chief of Audi and member of the board of VW. This means bad news to the group. Never had been arrested a member of the board of a car maker in Germany.
News will clarify soon where things will go in this never ending story in the Diesel scandal...
Stock holders of VW had accused the company to have not or too late informed the stock holders of VW in the cause of the diesel scandal 2015.
The trial started in Braunschweig and some first positive results for stock holders are to recognize today. Stock price of VW nearly fell 50% after the news 2015 about the diesel scandal. Therefore the stock holders made a complaint of 9 billion EURO against VW.
If the main complaint of seeing 2008 as the first moment of betrayal versus the stock holders - this might be a breakthrough for many. At the moment there is a discussion of around 2012 which is the last year for today to get some positive results. Former CEO Winterkorn - which was not really accused directly - now is in the eye of the hurricane. It is part of big money lost and the responsible persons of the past might be torn to the sunlight again...
We will see - some pay back to people involved in Europe might start right now! Which is time. Finally
Is that ok?
In fact - VW is producing unmeasured more cars every month. A big problem has arised for those are NOT SOLD. But brought to several parking lots - even never finished new airport BER in Berlin was taken as a super large parking lot - to let stay the still unsold cars at the sideline. That is all because those vehicles are not ready to get into service because they had not passed the new WLTP test that all the intermediate parked cars had still not yet passed. That wlll take a lot of more time as all variants have to be tested as a new variance. In fact VW counts those "fabricated" but not yet passed cars as SOLD. Which is not ok for the statistics. And where is the clientele to buy a car that had been burned half a year or more in the bright sunlight - still sold as a NEW CAR... Only Mercedes Benz is saying that all their cars had been tested positive and passed.
VW now has to clean up the past and to head to non burner motors for the future. They said not to change the strategy. If not - all the company with its 12 daughters will be down and sorted out. IF VW still survives until then.
So - with the main theme of this thread: VW is still strong gambling. And not far away from sudden death.
Only Hamburg has closed some 200m of city road for diesel cars 1-4. All others are allowed.
Now 2 big threats are ahead:
1) There are at least 5 new cities to take control over clean air act very soon. Means Frankfurt, Munich and others.
2) The threat to take EURO 1-4 cars out is announced - but very soon EURO 5 cars may get a ban to enter those cities. That means several 100 thousands of cars that are no longer admitted to get into those cities - nor pass through on a highway...
That result arises because of the German government not having taken serious steps but always playing the game with the car makers. Now is the time when EU Brussels is stepping in... NOT good for the German car makers.
For tomorrow Sunday Chancellor Merkel has invited the big 3 car makers to decide the tactics for hardware enhancements on sold diesel cars. Merkel wants to make pay the carmakers VW, BMW, Mercedes 100% for on the road cars Diesel 4, 5 and 6.
Lets see what will be the result
Of course the judges went in the last 6 months for the clients:
Hardest occurence: a client got a new car incl. all guarantees for nothing and had not to pay for the km he made with the old one.
Might make some fire onto the lazy carmakers that only want to set up rebate when in exchange of a new car with higher Euro class.
Means at least 3 years AFTER detection of the diesel scandal which came up more than ten years ago
Audi chief now sits more than 3 months in German jail. He wants now to quit VW - means to cancel the contract that is for mid 2019. This might help him to get out of prison earlier.
But some golden parachute might disappear.
We will see next week from Thursday on what the judges will tell.
