Can they recover?
Volkswagen. No longer reliable?
I’m so disappointed to hear about the VW scandal. Don’t get me wrong, I’m no “petrol head”, nor am I the owner of a VW car. I’m a mum, a dedicated consumer and self-confessed optimist. So when I hear that VW has deliberately misled us over emissions I feel terribly let down. I simply expected more from such as well-respected brand.
So, what did they actually do? Following an investigation from the US Environment Protection Agency (EPA) VW has admitted to intentionally rigging emissions tests in diesel-powered cars. It appears that software was programmed to switch engines to a cleaner mode during official emissions testing. After testing the software switches off and the same cars were found to emit as much as 40 times the legal amount of pollution.
VW have now stopped selling diesel models in the US (representing a quarter of their sales). The share price plummeted 20% within 24 hours of the news breaking, they potentially face ...