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Author Topic: VW shares plunge 18% on US exhaust scandal  (Read 5021 times)

Offline John S

VW shares plunge 18% on US exhaust scandal
« on: September 21, 2015, 09:26:39 PM »
Fines in US could reach $18bn, but over twice as much if Europe acts.  :o

Sounds like the F1 dream is well and truly over for Wolfsburg favourite sons, VW's fight for survival may dwarf any F1 minnow's dying throes.  :D

http://www.bbc.co.uk/news/business-34311819


Racing is life - everything else is just waiting. (Steve McQueen)

Offline Scott

Re: VW shares plunge 18% on US exhaust scandal
« Reply #1 on: September 21, 2015, 09:50:37 PM »
2 things jump to mind...

I surely hope,this doesn't interfere with their purchase of RBR.

My car is on the list...crap.  >:(
The Honey Badger doesn't give a...

Offline Dare

Re: VW shares plunge 18% on US exhaust scandal
« Reply #2 on: September 21, 2015, 10:37:07 PM »
I thought at first shares plunged 18% because they
decided to enter F1.I wondered had F1 sunk that low?
"The
democracy will cease to exist when you take away from those
who are
willing to work and give to those who would not."
--
Thomas
Jefferson

Offline cosworth151

Re: VW shares plunge 18% on US exhaust scandal
« Reply #3 on: September 22, 2015, 12:02:46 PM »
As far as I've heard, this is a U.S. only problem. You should be in the clear, Scott.

I wonder how many people will respond to a recall saying, "Please bring your car in so that we can cut your mileage & performance."
“You can search the world over for the finer things, but you won't find a match for the American road and the creatures that live on it.”
― Bob Dylan

Offline cosworth151

Re: VW shares plunge 18% on US exhaust scandal
« Reply #4 on: September 22, 2015, 02:02:35 PM »
I just heard on BBC World Service that it is world wide. That's what I get for listening to American networks.
“You can search the world over for the finer things, but you won't find a match for the American road and the creatures that live on it.”
― Bob Dylan

Online Jericoke

Re: VW shares plunge 18% on US exhaust scandal
« Reply #5 on: September 22, 2015, 03:21:39 PM »
I just heard on BBC World Service that it is world wide. That's what I get for listening to American networks.

It was the Americans who found the 'problem'.  Thus, it was only a problem in the USA until everyone else verifies the issue legally.  Each country has their own emission standards that VW has independently deceived

Offline Steve A.

Re: VW shares plunge 18% on US exhaust scandal
« Reply #6 on: September 22, 2015, 04:50:19 PM »
Yeah I heard the Europe is next to start the recalls, this will cost them so much more than cash, customers will not buy another VW, but that could bleed into all the other marques

Offline lkjohnson1950

Re: VW shares plunge 18% on US exhaust scandal
« Reply #7 on: September 23, 2015, 01:03:20 AM »
Audi A3 diesel is also on list.
Lonny

Offline cosworth151

Re: VW shares plunge 18% on US exhaust scandal
« Reply #8 on: September 23, 2015, 12:34:52 PM »
Over here, it sounds (so far) like it's restricted to the 2009 and newer 2 liter four banger TDI.

I haven't heard many bad comments from people around here about VW. Many of the folks I've heard talk about it just want to know where they can get similar software for their vehicles.  ;)
“You can search the world over for the finer things, but you won't find a match for the American road and the creatures that live on it.”
― Bob Dylan

Offline Scott

Re: VW shares plunge 18% on US exhaust scandal
« Reply #9 on: September 23, 2015, 05:46:17 PM »
What is really going to be interesting is when they insist we bring our cars in so they can turn down the engine management, how many of us (like me) will be on the internet the very next day buying a tuning chip to turn it back up and then some.  That, or they can take my 2014 and give me a 2016/17 with a gas engine.  I paid for the highest horsepower engine, at more than $10k extra (with the transmission that went with it) hike from the base model by the way, and I expect to have that engine I paid for, not something that can't keep up to the base model gas engine.

I am going to be very p*ssed off if I have to sacrifice performance or money for VW's crime.
The Honey Badger doesn't give a...

Offline Steve A.

Re: VW shares plunge 18% on US exhaust scandal
« Reply #10 on: September 23, 2015, 07:48:25 PM »
In the UK a lot of people bought vw's because of the low omissions, they were so low that no road tax was charged, if that is to be recalculated then a lot of people will be getting unexpected bills.

Online Jericoke

Re: VW shares plunge 18% on US exhaust scandal
« Reply #11 on: September 23, 2015, 07:58:41 PM »
What is really going to be interesting is when they insist we bring our cars in so they can turn down the engine management, how many of us (like me) will be on the internet the very next day buying a tuning chip to turn it back up and then some.  That, or they can take my 2014 and give me a 2016/17 with a gas engine.  I paid for the highest horsepower engine, at more than $10k extra (with the transmission that went with it) hike from the base model by the way, and I expect to have that engine I paid for, not something that can't keep up to the base model gas engine.

I am going to be very p*ssed off if I have to sacrifice performance or money for VW's crime.

Wasn't that what undid DeLorean?  Paying the fines for under delivering on power?  (Well, the cocaine smuggling didn't help matters.)

Offline Scott

Re: VW shares plunge 18% on US exhaust scandal
« Reply #12 on: September 23, 2015, 08:08:49 PM »
Apparently the stock is down more than 40% now.  I bet Horner is freaking out.
The Honey Badger doesn't give a...

Offline lkjohnson1950

Re: VW shares plunge 18% on US exhaust scandal
« Reply #13 on: September 24, 2015, 05:13:13 PM »
The fines and possible lawsuits (someone in America will sue for deception, bet on it) are said to be high enough to possibly bankrupt VW.  :o
Lonny

Offline Scott

Re: VW shares plunge 18% on US exhaust scandal
« Reply #14 on: September 24, 2015, 05:24:36 PM »
BMW has apparently had a model fail as badly under emission testing, and they are taking a hard look at Merc now in Europe.  Getting to the 'too big to fail' point.  Beat the heck out of them, but if the EU starts forcing the three big German auto makers to drastically shut down or cripple them with fines, then the economic fallout will be disastrous for Europe, not just Germany. 
The Honey Badger doesn't give a...

 


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