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Author Topic: VW shares plunge 18% on US exhaust scandal  (Read 5025 times)

Offline cosworth151

Re: VW shares plunge 18% on US exhaust scandal
« Reply #15 on: September 24, 2015, 06:00:21 PM »
I'm not that familiar with European law. I don't know if they could pull a GM. Declare bankruptcy, stick the creditors with the debt and declare themselves to be a "new" company.
“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 #16 on: September 24, 2015, 08:48:08 PM »
Their credit rating has been downgraded, some prince in Qatar (17%) is very miserable this week and the State of Saxony is on the hook for some 20% as well.  Not sure which banks are their creditors, but as someone once said, if you owe the bank a million dollars and can't pay, you have a problem...if you owe the bank a billion dollars and can't pay, the bank has a problem...if VW owes the bank 50 billion dollars, the government has a problem.
The Honey Badger doesn't give a...

Offline Philbe

Re: VW shares plunge 18% on US exhaust scandal
« Reply #17 on: September 26, 2015, 12:42:38 AM »
Be interesting to see the prices on used TDI´s as they have usually held their value well. Hmmm..might be a good time to look at the Golf TSI     I´ve had my eye on.

Offline Scott

Re: VW shares plunge 18% on US exhaust scandal
« Reply #18 on: September 26, 2015, 11:14:07 AM »
TSI's are fantastic.  Get one before VW North America goes belly up.

Apparently the word is that in Switzerland they will give owners of VW TDI's a pass on emission testing. 

Sorry, that doesn't work for me.  I chose the engine configuration partly due to its' 'blue diesel' tech, and now I am learning it doesn't have that.  Switzerland is fairly allergic to litigation, but I imagine when 180,000 TDI owners get together, there might be some sort of fix.  VW had a net profit of $11billion last year.  They are going to get sued by their shareholders anyway, but they are on the brink of losing an absolutely MASSIVE market share as well.  For me there is only one satisfactory fix if I will ever buy another VW. 

Either install a new TSI engine in my car, or tear up my lease and give me a new car and lease and take mine back for trade-in (in fairness, I would understand a small financial adjustment for depreciation as my car is 2 years old with 30,000km on it).  At the moment the resale value is basically worthless. 

Seriously, aside from firing the entire board, along with the chain of command that let this happen, the only way VW can redeem itself to customers and shareholders is to step up and fix this properly.  It's going to cost an unprecedented amount of money, but they'll find it.
The Honey Badger doesn't give a...

Offline lkjohnson1950

Lonny

Offline F1fanaticBD

Re: VW shares plunge 18% on US exhaust scandal
« Reply #20 on: September 27, 2015, 10:40:40 PM »
The more I see into the matter, the more surprised I get about the balant act, outregous audacity of cheating their customers, ruining their brand value and destroying their goodwill. Did they have the delusions of getting away with this much discrepency?

In terms of an engineering point of view, its a sublime achievement, that a device which is that good that it took a total production of 5 millions of cars before they could find out the problem. One of the biggest market regulators were made a fool out of them, that their system could be cheated with a touch little genius. Obviously they are not going like it, they will come with heavy hand.
Keep running the fast cars, you will be never out of girls

Offline Scott

Re: VW shares plunge 18% on US exhaust scandal
« Reply #21 on: September 28, 2015, 06:50:15 AM »
Could involve 5 million cars worldwide.

http://www.worldcarfans.com/115092699460/vws-ceo-of-passenger-cars-says-we-are-working-at

Switzerland has banned the sale of VW diesels.

http://www.worldcarfans.com/115092699452/switzerland-applies-sales-ban-on-select-vag-diesel

5m is deceptively low.  Even at the bottom of the article, it indicates that the total is more like 11million cars worldwide including Audi, Skoda and Seat cars that are all under the VW Group umbrella and all use the VW TDI engine and electronics.  And that's just VW group.  Some rumours are suggesting that the defeat software is Bosch and that they have written it for more than just VW.  An engineering friend of mine was saying that he guesses in two weeks we won't be talking much about VW.

Switzerland banning VW diesels has just made my car worthless.  It's your move VW...I'm watching.  I can tell you there is no way I will be allowed to drive the car with its current emissions in Switzerland for very long.  There is a very powerful Green movement here.  So the big question is how the fix will affect the car.
The Honey Badger doesn't give a...

Offline cosworth151

Re: VW shares plunge 18% on US exhaust scandal
« Reply #22 on: September 28, 2015, 12:12:56 PM »
It was a group of people at West Virginia University, about a three hour drive from here, who upset the apple cart.

http://www.npr.org/2015/09/24/443053672/how-a-little-lab-in-west-virginia-caught-volkswagens-big-cheat
“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 lkjohnson1950

Re: VW shares plunge 18% on US exhaust scandal
« Reply #23 on: September 28, 2015, 02:25:44 PM »
BMW may have a problem.

http://www.npr.org/sections/thetwo-way/2015/09/24/443078669/volkswagen-dieselgate-fallout-germany-tests-cars-new-report-sends-bmw-shares-dow

Another story suggests this may actually be a problem with Bosch, making it much wider spread.
Lonny

Offline Steve A.

Re: VW shares plunge 18% on US exhaust scandal
« Reply #24 on: September 28, 2015, 04:17:13 PM »
I dare say Botch will only produce something it's been paid to do, this will stretch a long way, into more manufacturers.  Let's hope it makes F1 say what's the point in going green it's all a con let's just get back to V8's and make some noise.

Offline Scott

Re: VW shares plunge 18% on US exhaust scandal
« Reply #25 on: September 28, 2015, 05:26:09 PM »
BMW may have a problem.

http://www.npr.org/sections/thetwo-way/2015/09/24/443078669/volkswagen-dieselgate-fallout-germany-tests-cars-new-report-sends-bmw-shares-dow

Another story suggests this may actually be a problem with Bosch, making it much wider spread.

lol, what Lonny, you don't read my posts anymore?
The Honey Badger doesn't give a...

Offline lkjohnson1950

Re: VW shares plunge 18% on US exhaust scandal
« Reply #26 on: September 28, 2015, 08:20:30 PM »
BMW may have a problem.

http://www.npr.org/sections/thetwo-way/2015/09/24/443078669/volkswagen-dieselgate-fallout-germany-tests-cars-new-report-sends-bmw-shares-dow

Another story suggests this may actually be a problem with Bosch, making it much wider spread.

lol, what Lonny, you don't read my posts anymore?

I read all your posts Scott, but at my age sometimes.....Wait, what was I just saying?
Lonny

 


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