VW scandal and impact on German economy - Traders Hideout | futures io social trading
futures io futures trading


VW scandal and impact on German economy
Updated: Views / Replies:13,476 / 276
Created: by rleplae Attachments:25

Welcome to futures io.

Welcome, Guest!

This forum was established to help traders (especially futures traders) by openly sharing indicators, strategies, methods, trading journals and discussing the psychology of trading.

We are fundamentally different than most other trading forums:
  • We work extremely hard to keep things positive on our forums.
  • We do not tolerate rude behavior, trolling, or vendor advertising in posts.
  • We firmly believe in openness and encourage sharing. The holy grail is within you, it is not something tangible you can download.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.


You'll need to register in order to view the content of the threads and start contributing to our community. It's free and simple, and we will never resell your private information.

-- Big Mike

Reply
 25  
 
Thread Tools Search this Thread
 

VW scandal and impact on German economy

  #41 (permalink)
Market Wizard
Switzerland
 
Futures Experience: Intermediate
Platform: Investor/RT
Broker/Data: IB / DTN
Favorite Futures: Futures
 
Posts: 3,816 since Feb 2012
Thanks: 3,483 given, 6,905 received
Forum Reputation: Legendary

Scandal finds new highs

Audi is announcing that 2,1 million vehicules worldwide have the same motor with
fraudulent software:
1,6l and 2l are to find in the models A1, A3, A4, A6, the sport TT as well as Q3 und Q5.

In western Europe 1,2 million are found.
In Germany 550 thousand.

It took now a week to find that out - what a perfect database

GFIs1

Reply With Quote
The following user says Thank You to GFIs1 for this post:
 
  #42 (permalink)
Market Wizard
Switzerland
 
Futures Experience: Intermediate
Platform: Investor/RT
Broker/Data: IB / DTN
Favorite Futures: Futures
 
Posts: 3,816 since Feb 2012
Thanks: 3,483 given, 6,905 received
Forum Reputation: Legendary

Swiss free importers want to sue VW

The connection of free VW (and connected) importers in Switzerland -
(Verband freier Autohandel (VFAS) are starting to sue VW.
These importers have now 1000 vehicules in stock - but can NOT
sell them anymore.
They say that it takes months until VW even starts to change the
software on all 180 thousand vehicules in Switzerland.
And by then the new cars in stock are no longer to sell...

Well - if that starts even little here - the big wave is right behind.
For sure

GFIs1

Reply With Quote
The following user says Thank You to GFIs1 for this post:
 
  #43 (permalink)
Market Wizard
Switzerland
 
Futures Experience: Intermediate
Platform: Investor/RT
Broker/Data: IB / DTN
Favorite Futures: Futures
 
Posts: 3,816 since Feb 2012
Thanks: 3,483 given, 6,905 received
Forum Reputation: Legendary

Former VW chief Winterkorn prosecuted


The prosecutor of Braunschweig (Germany) has started an investigation against
former VW chief Winterkorn today.
The prosecution is about fraud in case of millions manipulated motors (software) built in
cars of VW, Audi, Seat, Skoda and some more brands sold worldwide.

Things are evolving parallel...

GFIs1

Reply With Quote
The following user says Thank You to GFIs1 for this post:
 
  #44 (permalink)
Elite Member
Milan (I)
 
Futures Experience: Advanced
Platform: Ninjatrader
Broker/Data: Kinetick
Favorite Futures: FDAX,6E,CL,YM,NQ,ES
 
redratsal's Avatar
 
Posts: 1,653 since Oct 2010
Thanks: 1,217 given, 2,060 received

I am afraid the issue is more political and moral, it's not about VW but rather about Germany and its reputation as the strongest and cleanest economy in EU, damage is done and the PIIGS have one more argument in their defence, while the whole EU car industry is once again in backwardation.

Reply With Quote
 
  #45 (permalink)
Market Wizard
Switzerland
 
Futures Experience: Intermediate
Platform: Investor/RT
Broker/Data: IB / DTN
Favorite Futures: Futures
 
Posts: 3,816 since Feb 2012
Thanks: 3,483 given, 6,905 received
Forum Reputation: Legendary


redratsal View Post
I am afraid the issue is more political and moral, it's not about VW but rather about Germany and its reputation as the strongest and cleanest economy in EU, damage is done and the PIIGS have one more argument in their defence, while the whole EU car industry is once again in backwardation.

VW brand had been marketed to bring "the cleanest diesel technology" to clients around the world - right?
And what they did:
1) they started to bypass the tests since 2007... (!)
2) betraying clients, selling chain, countries, nature etc in many countries around the world...
3) have been alerted several times from experts that something has to be wrong with the tests
4) NO reaction from the management
5) but management wants first more money and has NO emergency plan
6) the consequences are coming and will be most painful NOW
the most expensive payments will be for punitive damages (US law) for the measly 500k vehicules

Sad for a good brand to be taken into the mud willingly by the management over the last 10 years.
I see no good in the taken strategy.
Markets and some judges will finally tell how VW's future will look like.
Good luck

GFIs1

PS: the scandal is not that one of the most important german industrial giants has cheated -
but that they could do it since 2007 without being nailed selling fraudulent products in large size...


Last edited by GFIs1; September 28th, 2015 at 12:08 PM.
Reply With Quote
 
  #46 (permalink)
Market Wizard
Switzerland
 
Futures Experience: Intermediate
Platform: Investor/RT
Broker/Data: IB / DTN
Favorite Futures: Futures
 
Posts: 3,816 since Feb 2012
Thanks: 3,483 given, 6,905 received
Forum Reputation: Legendary

Skoda numbers

After known numbers of manipulated diesel cars of VW group
this evening came out the number of VW daughter Skoda:

1,2 million vehicules worldwide are affected

GFIs1

Reply With Quote
 
  #47 (permalink)
Elite Member
Portland Oregon, United States
 
Futures Experience: Beginner
Platform: Ninjatrader®
Broker/Data: CQG, Kinetick
Favorite Futures: Gameplay Klownbine® Trading of Globex
 
Zondor's Avatar
 
Posts: 1,324 since Jul 2009
Thanks: 1,242 given, 2,619 received

Not just VW

This is a problem for the reputation of the entire German auto industry, not just for Volkswagen.
GM, the owner of Opel, may get dragged into this.


Quoting 
As it turns out, Volkswagen may not be the only carmaker that sold diesel-powered cars which exceeded allowed emissions levels.

A report from Transport & Environment drops the bomb, claiming more carmakers sell vehicles which exceed the European limit for air pollution.

During the past three years, Transport & Environment (T&E), with the support of the International Council on Clean Transportation (ICCT – the organization that alerted US authorities to its concerns over VW), has exposed several ways carmakers manipulate emissions tests in Europe for both air pollution and CO2 emissions.

Diesel BMW, Mercedes, Opel, PSA Cars Suspected Of Manipulating Emissions Tests Too [Updated]

"If we don't loosen up some money, this sucker is going down." -GW Bush, 2008
“Lack of proof that something is true does not prove that it is not true - when you want to believe.” -Humpty Dumpty, 2014
“The greatest shortcoming of the human race is our inability to understand the exponential function.”
Prof. Albert Bartlett
Reply With Quote
The following 3 users say Thank You to Zondor for this post:
 
  #48 (permalink)
Elite Member
Omer עומר / Israel י
 
Futures Experience: Master
Platform: NinjaTrader, Proprietary,
Broker/Data: Ninjabrokerage/IQfeed + Synthetic datafeed
Favorite Futures: 6A, 6B, 6C, 6E, 6J, 6S, ES, NQ, YM, AEX, CL, NG, ZB, ZN, ZC, ZS, GC
 
rleplae's Avatar
 
Posts: 1,981 since Sep 2013
Thanks: 1,396 given, 2,961 received
Forum Reputation: Legendary


GFIs1 View Post
After known numbers of manipulated diesel cars of VW group
this evening came out the number of VW daughter Skoda:

1,2 million vehicules worldwide are affected

GFIs1

Due to the magnitude of the numbers (multiplication) this becomes more and more a monster problem

Q1 : Is it "easy" to bring one of those cars in compliance ?
Having cheating software is one thing.
Disabling this software is another thing. (reflashing).
How can a car be made compliant (reduce to reasonable pollution)
What is the cost per car

Q2 : The outlook for VW as a group must look very ugly ..
the cash flow will stop brutally
provisions need to be made
banks will revisit credit lines
cost of credit soars

legal departments will run over-drive time

still my initial questions holds, what will be the impact on the German Economy
and as an 'engine' behind the EU economy what is the impact ?
taking into account that export (cars) is an important pillar ...

Reply With Quote
The following user says Thank You to rleplae for this post:
 
  #49 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 45,899 since Jun 2009
Thanks: 29,116 given, 81,745 received


rleplae View Post
still my initial questions holds, what will be the impact on the German Economy
and as an 'engine' behind the EU economy what is the impact ?
taking into account that export (cars) is an important pillar ...

Things will get worse before better. Then at some point the government will step in as a hard backstop to protect the jobs, and in 10 years all will be forgotten...

My thoughts..

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
The following 3 users say Thank You to Big Mike for this post:
 
  #50 (permalink)
Market Wizard
Switzerland
 
Futures Experience: Intermediate
Platform: Investor/RT
Broker/Data: IB / DTN
Favorite Futures: Futures
 
Posts: 3,816 since Feb 2012
Thanks: 3,483 given, 6,905 received
Forum Reputation: Legendary



rleplae View Post
Due to the magnitude of the numbers (multiplication) this becomes more and more a monster problem

Q1 : Is it "easy" to bring one of those cars in compliance ?
Having cheating software is one thing.
Disabling this software is another thing. (reflashing).
How can a car be made compliant (reduce to reasonable pollution)
What is the cost per car

The FRAUD does not disappear while installing new software over the old one:
Simple clients bought these cars understanding that they are "Best Of Technology",
using 3,5l diesel per 100km and will be best for nature ;-)
If VW is putting the original "cleaning" back to work - the same car uses
suddenly 6 to 7 l diesel per 100km and is much less powerful than seen in
prospects.
All the good numbers evaporate - every client feels cheated again!

GFIs1

PS: Cost of 1l diesel in Switzerland today is $1.70
If your car needs 7l /100km instead of 3,5 (as shown in prospect) - your calculation
for driving will be most different.


Last edited by GFIs1; September 28th, 2015 at 03:17 PM.
Reply With Quote
The following 4 users say Thank You to GFIs1 for this post:

Reply



futures io > > > VW scandal and impact on German economy

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

FIO Journal Challenge featuring NinjaTrader ($2,000+ of prizes)

May

An overview of volumetric analytical tools w/Sergey Sokolov @ PTMC

Elite only

John Hoagland (TBA)

Elite only

FuturesTrader71 Extended Ask Me Anything (AMA)

Elite only

Pete @ Jigsaw Trading (TBA)

Elite only

John @ No BS Day Trading (TBA)

Elite only

An Afternoon with FIO member Softsoap (being rescheduled)

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
France Faces 'Devastating Scandal' as Economy Stalls Quick Summary News and Current Events 0 April 9th, 2013 04:10 AM
Libor Scandal: Why Criminal Charges Are Now Likely Quick Summary News and Current Events 0 July 23rd, 2012 04:20 PM
Vatican faces widening of leaks scandal kbit News and Current Events 0 May 27th, 2012 09:19 PM
G-20 Demands German Gold To Keep Eurozone Intact; German Central Bank Tells G-20 Wher Quick Summary News and Current Events 0 November 6th, 2011 02:00 AM
Fed Poised to Aid Economy, But Impact Is Cloudy Quick Summary News and Current Events 0 November 2nd, 2010 10:40 AM


All times are GMT -4. The time now is 02:54 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-05-28 in 0.14 seconds with 20 queries on phoenix via your IP 23.20.157.174