The rubber finally hits the road

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Thread: The rubber finally hits the road

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    The rubber finally hits the road

    I scoffed when VW set aside 18 billion euros back in 2015 to resolve its emissions scandal. I had conservatively figured a minimum of 35 billion euros. Well, now all the chickens are coming home to roost.

    VW Fights Investors as Diesel-Scandal Cost Could Top $35 Billion
    Volkswagen AG’s bill for cheating on diesel emissions could potentially top 30 billion euros ($35 billion) as a legal battle with thousands of investors heats up in the German carmaker’s own backyard.
    More at:
    https://www.bloomberg.com/news/artic...top-35-billion

    But the corporate kick-off doesn't end there. VW petrol engines are currently under investigations also. This could literally wipe VAG off the face of the earth.

    Today, matters got a whole lot worse.

    EU investigates 'collusion' by VW Group, BMW, Daimler on emissions
    BRUSSELS — EU antitrust regulators are investigating whether BMW, Daimler and Volkswagen colluded to restrict the rollout of clean emission technology, a move that could lead to hefty fines for the German carmakers...
    Companies can face fines up to 10 percent of their global turnover for breaching EU rules. The car industry has in recent years faced billion euro fines worldwide for fixing prices of various auto parts.
    Complete article at:
    https://www.autoblog.com/2018/09/18/...021&yptr=yahoo

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    Re: The rubber finally hits the road

    How the hell is Piech still walking around free??
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    Re: The rubber finally hits the road

    More like the hits the fan IMO.
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    Re: The rubber finally hits the road

    Quote Originally Posted by jamiepeterson2 View Post
    I scoffed when VW set aside 18 billion euros back in 2015 to resolve its emissions scandal. I had conservatively figured a minimum of 35 billion euros. Well, now all the chickens are coming home to roost.

    VW Fights Investors as Diesel-Scandal Cost Could Top $35 Billion
    Volkswagen AG’s bill for cheating on diesel emissions could potentially top 30 billion euros ($35 billion) as a legal battle with thousands of investors heats up in the German carmaker’s own backyard.
    More at:
    https://www.bloomberg.com/news/artic...top-35-billion

    But the corporate kick-off doesn't end there. VW petrol engines are currently under investigations also. This could literally wipe VAG off the face of the earth.

    Today, matters got a whole lot worse.

    EU investigates 'collusion' by VW Group, BMW, Daimler on emissions
    BRUSSELS — EU antitrust regulators are investigating whether BMW, Daimler and Volkswagen colluded to restrict the rollout of clean emission technology, a move that could lead to hefty fines for the German carmakers...
    Companies can face fines up to 10 percent of their global turnover for breaching EU rules. The car industry has in recent years faced billion euro fines worldwide for fixing prices of various auto parts.
    Complete article at:
    https://www.autoblog.com/2018/09/18/...021&yptr=yahoo
    VW Group seems to be weathering the storm - and finding the money to invest in EVs and existing powertrains.

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    Re: The rubber finally hits the road

    While I get it that punishing VW is effectively punishing all of VW's mostly innocent employees, I do feel like as a single entity VW deserves to be put out of business. So putting VW out of business is very risky, could very well trigger a worldwide recession. I do like the idea of taking all assets and jailing all involved, especially the higher levels and barring them from working in similar roles post prison. VW has to be treated delicately, hurt enough to make them feel it, but not so much they go out of business.

    PS, I do love seeing an ad paid for by VW featuring a Chevy Bolt.

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    Re: The rubber finally hits the road

    Putting VW out of business would be an utterly irrational abuse of prosecutorial power, illustrative of the insanity of the state--the European Union in this case. A bad idea whose chickens will come home to roost, again and again.
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    Autoline figured that it would probably take 70 billion back in 2015, when the stuff broke.. when all is said and done.. their lowest estimate with Wards auto was 70 billion dollars.. as cost to be to put this behind them.

    This was assuming that they were dealing with the diesel problem only, if they have Gasoline **** to deal with, tack in another 70 billion.

    GM, Tata, FCA or Ford should offer to buy their Commercial Truck division before Geely swallows it up.
    Last edited by mbukukanyau; 09-18-2018 at 01:43 PM.

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    Re: The rubber finally hits the road

    Quote Originally Posted by mbukukanyau View Post
    Autoline figured that it would probably take 70 billion back in 2015, when the stuff broke.. when all is said and done.. their lowest estimate with Wards auto was 70 billion dollars.. as cost to be to put this behind them.

    This was assuming that they were dealing with the diesel problem only, if they have Gasoline **** to deal with, tack in another 70 billion.

    GM, Tata, FCA or Ford should offer to buy their Commercial Truck division before Geely swallows it up.
    They don't need to sell a division to meet these costs.

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    Re: The rubber finally hits the road

    Quote Originally Posted by Ruperts Trooper View Post
    They don't need to sell a division to meet these costs.
    Where are they getting the money from?

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    Re: The rubber finally hits the road

    I'm not so keen on the putting Volkswagen out of business approach. I do believe with as much as they know about what went on and who knew and did what, that they should be able to go after those that need to be dealt with and do it so very harshly that it will never occur again. Those guilty ones should never be able to be involved in the auto industry again or hold high ranking jobs elsewhere once they've been punished enough.

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    Re: The rubber finally hits the road

    I suppose the fact that governments set impossible standards from their office suites, is not a significant factor? Just hang the guys and be done with it. Judge, Jury, Executioner. It's a rigged game.
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    Re: The rubber finally hits the road

    Quote Originally Posted by 1958carnut View Post
    I'm not so keen on the putting Volkswagen out of business approach. I do believe with as much as they know about what went on and who knew and did what, that they should be able to go after those that need to be dealt with and do it so very harshly that it will never occur again. Those guilty ones should never be able to be involved in the auto industry again or hold high ranking jobs elsewhere once they've been punished enough.
    I've grown cynical in my old age. The higher ups will walk and maybe some low level engineer will get blamed.Unless the company goes down like Enron did, the top does not get punished. Maybe they get fired but always with a juicy golden parachute.

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    Re: The rubber finally hits the road

    Quote Originally Posted by Ruperts Trooper View Post
    They don't need to sell a division to meet these costs.
    Most likely they will need to sell parts of the corp and break up the company to meet these costs. The other way is if the German Government intervenes. 70 Billion is not pocket change.

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    Re: The rubber finally hits the road

    I think VW needs to worry a lot more about the internal squabbling between the family/families than the diesel-gate penalty.

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    Re: The rubber finally hits the road

    Quote Originally Posted by BlackGTP View Post
    Where are they getting the money from?
    Profits from vehicle sales which are holding up globally, despite the adverse publicity.

    Globally, there are four different "levels" of culpability - North America where they're banged to rights - Germany where they are forced to fix the affected cars - rest of the EU where the fix is optional - rest of the world not affected using different emissions standards. The financial effect in particular markets does seem to relate the the level of obligation over the fixes.

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