Volkswagen admits to rigging US emission tests; stock crashes
FRANKFURT: Shares in German auto giant Volkswagen fell more than 13 per cent on the Frankfurt stock exchange on Monday after it emerged some of its diesel cars in the United States had been fitted with software that gave false emissions data.
In a statement on Sunday, the carmaker had said that the US environmental protection agency and the California Air Resources Board (EPA and CARB) had found that while testing diesel cars of the Volkswagen Group they had “detected manipulations that violate American environmental standards.”
VW chief executive Martin Winterkorn issued an apology and said the group had ordered an external investigation into the matter.
“The board of management takes these findings very seriously. I personally am deeply sorry that we have broken the trust of our customers and the public. We will cooperate fully with the responsible agencies, with transparency and urgency, to clearly, openly and completely establish all of the facts of this case,” Winterkorn said.
The Dust Buster
they could have made Indian authorities fools and none would have known till the next century.
Volkswagen brought irreversible damage to itself by rigging US emissions tests for about 500,000 diesel cars….Bad name.
Can’t believe Germans doing it, especially being BMW & VW GOLF TDi owner?
And our Indian customers are going blind after foreign car makers……
Just need to understand that German cars after having such high technology return only 5-8 kmpl milage and they claim that are clean air, etc…..
If you look for mileage, go for Japanese cars. If you want style and comfort, then German car is for you. If you want nothing, then American car is for you. If you want trouble, then Indian car is for you 🙂
yet another guy
Cheating Uncle Sam seems impossible! VW did something like this is baffling. Soon the scapegoat engineer or manager will be sued to rescue the face of VW, and the big managers will plead innocence!
G R Swaroop
That’s bad business practice. Must be punished hard