I want to bring up briefly the news happened in the automative industry recently as a mechanical engineer. All over the world this scandal is discussed.
If the news correct, Volkswagen will be in trouble, Because Volkswagen who compete for being the largest auto brand all over the world mercilessly with Toyota, rival Japan car brand. has received news from U.S. There's claims that the value of emission is manipulated in the diesel vehicles. An illegal software is used to cheat gas emission tests in some models.
The Enviromental Protection Agency (EPA) accused of breaking the laws (Federal Clean Air Rules) German car-maker and claimed to recall 482k diesel-fueled vehicles (including 4 cylinder 2 liter TDI engine). The EPA says emit NOx pollution contributes to a range of pollutans that are a public health problem. The vehicles (with the software) would run 10 to 40 times more emissions than showing in the test or the legal limit. The models are affected include Volkswagen Jetta, Golf, Passat and Beetle from 2009 to 2015, the passat from 2014 to 2015 as well as Audi A3 model from 2009 to 2015. The company said it was stopping sale of some cars in the US. VW scandal could snare other firms, whistleblower allegetions.
Volkswagen CEO Martin Winterkorn said that 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, clearly, openly and completely establish all of the facts of this case. I am endlessly sorry that we betrayed the trust and we must never happen again. Volkswagen has ordered an external investigation of this matter and apologised after the scandal emerged. VW is facing fine of $18B ($37.500/per cars)
South Korea started to make a criminal investigation about being talked about models and VW after news in the USA and France want to research all the Europe about this scandal. France's minister of finance, Michel Sapin, said that gas emissions of VW vehicles need to research within the boundaries all of the Europe.
So, in conclusion, Volkswagen's market shares have decreased up to 30% after the scandal. This scandal may reveal many issues like the reputation of the staffs and executives in the company, its image and sales in the US, its reliability in the auto industry. Probably VW will recall approximately 500k vehicles and stop the sales of these vehicles incriminated by the EPA. If this scandal spreads many continents or countries (reportedly it's spread the Asia), VW and other German car-maker companies will affect and lose value significantly due to the scandal.
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| Volkswagen CEO Martin Winterkorn (Former) |
Edit : As of yesterday, CEO Mr. Winterkorn resigned as Volkswagen CEO because of this scandal. The world's biggest car-maker confessed last week that it deceived US regulators in exhaust emissions tests by installing a device to give more positive results. CEO was under pressure in the company and
after scandal, they were asking the resignation of CEO.
Mr Winterkorn said he was shocked by recent events and that the firm needed a fresh start. He was not aware of any misconduct on my part. I'm clearing the way for a fresh start with my resignation. The process of clarification and transparency must continue. This is the only way to win back trust..
In briefly, the executive committee will appoint a new CEO on Friday and they will try to clear up the issues in rough time. I expect that Volkswagen and its executives will continue works by making decisions within company interests.
If you want to do comment about this news, you can write your comment down there.
Kaynak / Source : BBC, WSJ, CNBC, The Guardian, Hürriyet
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