Volkswagen CEO under pressure to explain Porsche emissions claims

[webfact]

Volkswagen CEO under pressure to explain Porsche emissions claims



WOLFSBURG: -- Volkswagen’s new boss is under pressure to explain claims by US regulators that they’ve found more cars equipped to cheat emissions tests.

What is more, they include Porsches, the brand previously run by Matthias Mueller, who took over as VW’s chief executive in late September in the wake of the scandal.

The US Environmental Protection Agency issued a second notice of violation to the Volkswagen group, saying the software was installed in 3.0 litre diesel engines, mostly in Porsche and Audi vehicles.

The models affected include the 2014 VW Touareg, the 2015 Porsche Cayenne and several Audis.

VW has denied the claims in a statement, saying it is co-operating with the EPA to clarify the matter.

“VW’s position is that they’ve put everything known so far on the table and there are no further models affected. If this is true then one must say that it’s ok. But if the EPA is right here, that even the premium brands Audi and Porsche are affected, then one must say that Volkswagen’s crisis management is certainly still not good,” said Juergen Pieper of Metzler Bank, a car industry analyst in Frankfurt.

The regulator says the latest inquiry concerns at least 10,000 vehicles sold in the US.

VW has previously admitted installing so-called defeat devices in 11 million cars worldwide.

German Chancellor Angela Merkel reacted to the latest allegations as she addressed the Federation of German Industries in Berlin.

“‘Made in Germany’ remains, thanks to innovation, a trademark and a seal of quality, and the events at Volkswagen changes nothing about that, I want to stress that again. But they also show that we must also insist here on transparency and a quick clean-up,” she said.

Reports say VW’s supervisory board is to meet next week to consider the scandal’s financial implications.

The 6.7 billion euros set aside to make amends have already hit the carmaker in the pocket: plunging the group into the red in its recent quarterly results.

Some analysts have said the final bill could reach as much as 35 billion euros in regulatory fines, lawsuits and vehicle refits.


-- (c) Copyright Euronews 2015-11-04

[webfact]

Germany's VW: New C02 problems with 800,000 vehicles
By DAVID RISING

BERLIN (AP) — Germany's Volkswagen, already reeling from the fallout of cheating on U.S. emissions tests for nitrogen oxide, said Tuesday that an internal investigation has revealed "unexplained inconsistencies" in the carbon dioxide emissions from 800,000 of its vehicles — a development it said could cost the company another 2 billion euros ($2.2 billion).

The investigation was undertaken by the company after the revelations that many of its vehicles had software that allowed them to deceive U.S. nitrogen oxide tests. CEO Matthias Mueller promised Tuesday that Volkswagen "will relentlessly and completely clarify what has happened."

"It is a painful process, but for us there is no alternative," said Mueller, who took over after CEO Martin Winterkorn resigned in September because of the emissions-rigging scandal. "For us, only one thing counts, and that is the truth."

The news is the latest in a string of problems identified with Volkswagen emissions, which have caused share prices to plummet.

In September, the company admitted it had installed software designed to defeat tests for nitrogen oxide emissions for four-cylinder diesel engines on 11 million cars worldwide, including almost 500,000 in the U.S. It has already set aside 6.7 billion euros ($7.4 billion) to cover the costs of recalling those vehicles — and analysts expect the emissions scandal to cost the company much more than that.

That scandal had already widened this week, when the U.S. Environmental Protection Agency said Volkswagen had installed software on thousands of Audi, Porsche and VW cars with six-cylinder diesel engines that allowed them to emit fewer pollutants during tests than in real-world driving. Volkswagen has denied the charge, but faces the prospect of more fines and lost sales.

It was not immediately clear whether the 800,000 vehicles announced Tuesday with the newly discovered carbon dioxide emission problems were among those already affected. Volkswagen did not identify any models by name.

However, Jeannine Ginivan, spokeswoman for Volkswagen Group of America, said "we are told the issue is not related to the U.S. market."

Volkswagen also did say the 800,000 were "predominantly vehicles with diesel engines," raising the possibility for the first time that some Volkswagens with gasoline-powered motors may also have emissions problems. A VW spokesman did not immediately return a phone call seeking clarification about that.

Volkswagen's board of directors said in a separate statement that they learned of the development "with dismay and concern."

"The board of directors and the committee specially established to investigate will meet soon to discuss further measures and consequences," the board said.

Despite the new issue, the company assured customers that the safety of the vehicles in question "is in no way compromised."

It said Volkswagen "will endeavor to clarify the further course of action as quickly as possible and ensure the correct CO2 classification for the vehicles affected" with the responsible authorities.

In talks with the authorities — whom Volkswagen did not identify — the company said it hoped to come up with a "reliable assessment of the legal, and the subsequent economic consequences, of this not yet fully explained issue."

The news broke after Germany's DAX was closed for the day, but Volkswagen shares ended down 1.51 percent to 111 euros.


-- © Associated Press 2015-11-04

[impulse]

The plot(s) thicken...

The latest findings that VW understated fuel consumption and carbon dioxide emissions, areas which U.S. regulators have yet to address, were disclosed as VW continues a broad review of its handling of all pollution-related issues. While the findings mostly apply to smaller diesel engines, one gasoline-powered engine is also affected.

Source: http://www.reuters.com/article/2015/11/04/us-volkswagen-emissions-co2levels-idUSKCN0SS28B20151104

Edit: Sorry about the link, for some reason, I can't copy and paste the correct URL from Reuters. It's one of the first articles- as it should be

Edited November 4, 2015 by impulse

[empireboy]

Anyone looking for a cheap(er) Porche?

[Ulic]

All manufactures cheat on the co2/mileage claims to meet government mandated fleet

minimums. From taping seams, using special tires, disconnecting all electronics

and even the alternator and running of just the battery. Every trick possible to game the

system. About time there was a full detailed review. Cars under normal operating

conditions should meet advertised EPA test results.

[impulse]

All manufactures cheat on the co2/mileage claims to meet government mandated fleet

minimums. From taping seams, using special tires, disconnecting all electronics

and even the alternator and running of just the battery. Every trick possible to game the

system. About time there was a full detailed review. Cars under normal operating

conditions should meet advertised EPA test results.

While that's true, knowing it happens I suspect this goes deeper or it wouldn't be headline news for which IIRC, they have reserved another 2 Billion Euros. Perhaps to falsified figures? Hard to tell with the info available right now...

[otherstuff1957]

I suspect that the next question will be: Is VW 'too big to fail'? Germany might have two big bills come due this year - VW and the migrants!

[4evermaat]

All manufactures cheat on the co2/mileage claims to meet government mandated fleet

minimums. From taping seams, using special tires, disconnecting all electronics

and even the alternator and running of just the battery. Every trick possible to game the

system. About time there was a full detailed review. Cars under normal operating

conditions should meet advertised EPA test results.

But then what would real emissions output look like? Real mpg?

The customer is not at a complete loss if the real mpg isnt too bad.

[Cook my sock]

What's the share price right now?

[Srikcir]

"For us, only one thing counts, and that is the truth."

You don't want the truth: 35 billion euros in regulatory fines, lawsuits and vehicle refits.