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VW scandal and impact on German economy
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VW scandal and impact on German economy

  #151 (permalink)
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VW Now needs to recall 91.800 cars for problems with cam shaft..

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  #152 (permalink)
Market Wizard
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Good news

... for VW clients in Germany. As Mr. Dobrindt - the minister of transport in Germany explained
yesterday in parliament: VW cheated long term by showing LOW consumption of diesel/gasoline of
sold cars - which in return gave lower taxes (by shown fake CO2 measures).
After came out that all was not true - the government who was cheated by those low consumption
cars (giving even special extra rebates in some parts of Germany for this) did not get the money for
the REAL consumption.
Which really is NOT ridiculous: it is a amount of 100 EUR per year and per VW group car since 2007.
So Mr. Dobrindt says that not the client will be responsible for this but the carmaker VW group.
Thus the government will check if the lost taxes will be directly invoiced to the VW group!

GFIs1

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  #153 (permalink)
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Moodies


sent VW down south from A2 to A3.
With negative outlook.

Then some sources want to fix the "system VW" which is the only company bundled
with politics.
Pressure to get out will be especially on the 20% VW stakeholder "Land Niedersachsen Hannover"
who is public...


GFIs1

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  #154 (permalink)
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VW's salami tactics

are well known now.
Nothing admitted - but every new fact denied.

One little thought here:
If "Bundesverkehrsminister" Mr. Dobrindt would have the guts to halt every VW group car
that is not conform by taking away the license to drive immediately - then:
Things in VW group could and would develop MUCH QUICKER
than without.

GFIs1


Last edited by GFIs1; November 5th, 2015 at 08:45 AM.
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  #155 (permalink)
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The VW stock

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There we go - trend is crystal clear

GFIs1

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  #156 (permalink)
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VW boss writes letter to EU finance ministers

VW CEO Müller has sent a letter to 28 EU country's financeministers as well as some other
European countries.
He declares to be sorry to bother on this level. His offer is to take over the tax differences
(out of lower CO2 emission numbers than real as well as rebates given by the countries to
clients of VW group vehicules).
With this the client does not have to deal with VW in this case. The real numbers plus details
of the car models shall be public by next week (as for Switzerland).

Might be that the offer takes out some steam. But in reality the VW (and group) client
still has not repaired his car.
From this angle VW still has the threat of many individual and group legal cases in the time
to come.

German article here:
Abgas-Skandal: VW-Chef schreibt an Widmer-Schlumpf - NZZ Wirtschaft

GFIs1

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  #157 (permalink)
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Magic Potion

VW group Insiders knowing about the manipulations to reach the given emission limits
used a very special term when speaking about this:

Magic Potion

sic!

GFIs1

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  #158 (permalink)
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EU wants CO2 details within 10 days

From the Wall Street Journal from 9th november 2015:

"The European Union on Monday asked Volkswagen AG to supply within 10 days details on recently revealed “irregularities” related to carbon-dioxide emissions from its vehicles, kicking off an assessment process that could end with heavy fines for the German auto maker."

EU Asks Volkswagen for Emissions Details Within 10 Days - WSJ

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  #159 (permalink)
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US retailers "not amused"

Article from Bloomberg:

VW Struggles to Keep Dealers Happy as Scandal Widens Worldwide - Bloomberg Business

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That's funny, I read somewhere else that US sales are actually up

VW US sales rise despite scandal - BBC News

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