Volkswagen shares rebound after CEO quits over emissions scandal

[webfact]

Volkswagen shares rebound after CEO quits over emissions scandal

BERLIN: -- Battered shares of the scandal-hit German carmaker Volkswagen have continued to rebound following the resignation of the firm’s Chief Executive Martin Winterkorn

Volkswagen’s stock had slumped some 30 percent in recent days after the firm admitted deceiving US regulators about how much its diesel cars pollute.

Winterkorn stepped down on Wednesday, saying he was quitting “in the interests of the company even though I am not aware of any wrongdoing on my part”.

His departure saw Volkswagen shares close up more than 5 percent on Wednesday. They have continued to move in the right direction today, with a 6 percent bounce.

But the firm faces a huge task to restore investor and consumer confidence amid the growing emissions scandal.

Unsure what happened at #Volkswagen? We explain its emissions scandal http://t.co/XckrDBVulU pic.twitter.com/OsTbHYwEmy

— Bloomberg Business (@business) 24 Septembre 2015


-- euronews 2015-09-24

[FangFerang]

How is that for insane corruption. The CEO quits, the German government is impicated, and

the company makes a profit for it.

[Now or Never]

[Jonmarleesco]

Early in the saga to talk of a rebound, especially as other manufacturers, especially German, are now under the spotlight..

[elgordo38]

Early in the saga to talk of a rebound, especially as other manufacturers, especially German, are now under the spotlight..

Its a dead cat bounce last call get out now before the smit hits the fan big time. Every country in the world is opening up lawsuits and this will be solved how? huge fines by every government in the world where these polluters were sold, buy back over 11 million units hmm bankruptcy. Environmental issues yes 1 million tonnes of extra pollution big fine. Share holder lose hmm another class action lawsuit yes drastic drop in stock value because of illegalities. As things collapse workers lawsuit for malfeasance huge lawsuit. Lawyers are like a penned up bunch of bulls waiting to get in on the action. Mental issues tied up in buying and owning a white elephant boy these are killers. I wonder how the German government will come to the rescue on this one. One time rebates will not solve this problem. Its like being told there is no Santa Claus. All the car manufacturers will receive a black eye over this debacle. I am sure there are other car manufacturers shuddering over their dirty little secrets as well. Ah yes the God of Greed always exacts a price.

[wabothai]

Most people who work for Volkswagen make quality products and hopefully keep on doing that.

They are the greedy ba...ds at the top or linked to the top who lie and cheat.

They deserve harsh punishment and must be made personally responsible for the damages done.

[RickBradford]

If this scandal dents the popularity of diesel vehicles, so much the better -- they're polluting death traps.

They spew out vastly more of the damaging NOx than petrol cars (which is what VW was trying to cover up), and over 20 times more particulates — the minute particles that penetrate lungs, brains and hearts. In any society that cared about urban pollution, they'd be banned.

Instead, their use has massively grown over the past 20 years thanks to various incentives. The reason is that Green lobbying has worked -- diesels emit slightly less CO2 than gasoline engines, and supine governments across the EU have been encouraging the switch to diesels for some "climate change" concerns.

The UK Department of Environment has known for over two decades how deadly diesels are, but this is not an area of rational debate.

If it were, politicians would not have given in to the bullying of the extremists who want to control CO2 even if that means increasing the proven danger of NOxs and carcinogenic particulates. A typically obtuse and self-serving Green solution.

[farangmick]

If this scandal dents the popularity of diesel vehicles, so much the better -- they're polluting death traps.

They spew out vastly more of the damaging NOx than petrol cars (which is what VW was trying to cover up), and over 20 times more particulates — the minute particles that penetrate lungs, brains and hearts. In any society that cared about urban pollution, they'd be banned.

Instead, their use has massively grown over the past 20 years thanks to various incentives. The reason is that Green lobbying has worked -- diesels emit slightly less CO2 than gasoline engines, and supine governments across the EU have been encouraging the switch to diesels for some "climate change" concerns.

The UK Department of Environment has known for over two decades how deadly diesels are, but this is not an area of rational debate.

If it were, politicians would not have given in to the bullying of the extremists who want to control CO2 even if that means increasing the proven danger of NOxs and carcinogenic particulates. A typically obtuse and self-serving Green solution.

If Chevrolet ever started building the 6.2 litre V8 Siverado truck in Thailand, I;d buy one tomorrow. Always keen to save the planet. 420 bhp a bonus. Until then it's the D-Max, more convenient than a buffalo cart, and no nasty methane emissions.