Storm on the Volkswagen scandal of fake anti-smog test. After the collapse of yesterday’s headlines still sink the Frankfurt Stock Exchange.
The giant Wolfsburg – the largest German company with a turnover of 200 billion Euros and employs 600,000 employees worldwide – has received heavy accusation by the EPA, the US environmental agency, that deals with the health and safety of citizens. Volkswagen deliberately designed some cars to get around emission regulations on diesel engines and selling them on the North American market. A procedure which, in addition to defraud consumers, may harm health. Now would then also at the center of a criminal investigation in the United States for violation of the anti smog.
The news sank the title Volkswagen. After the collapse of yesterday at the Frankfurt Stock Exchange (-17% with almost 13 billion capitalization infumo) today shares plunge and lose another 20%.
There are 11 million worldwide Volkswagen vehicles with discrepancies diesel engines. So it says today the home of Wolfsburg, according to reports from the agency Bloomberg. The German company has also announced that it will set aside 6.5 billion euro in the third quarter to cover the likely costs of the matter of issuing deceptive and launched a “profit warning”.
The Italian government asks Volkswagen explanations on the case of emissions. The Ministry of Infrastructure and Transport today challenges the incident, both the KNA, the Kraftfahrt-Bundesamt, third party, the greater homologating the car in question, both the manufacturer. The Ministry, he said in a statement, asking “to know if the same offense, which occurred in the US, where, however, different rules apply for approval appears to be practiced on approval of the same authority of Germany for Europe and that vehicles have been commercialized in Italy. “
Meanwhile, France calls for investigation” at European level. ” This was stated by the French finance minister, Michel Sapin. To “reassure the public” he added Sapin talking on the radio Europe1, will be “necessary” to conduct checks on other European manufacturers.
“It is premature to say whether any necessary measure specific monitoring in Europe and if Volkswagen vehicles sold in Europe have the same defect. We are still examining the issue very seriously. We are in contact with the company and the US Agency for the Environment (EPA). ” Affirms Lucia Caudet, European Commission spokesman for Internal Market.
“The national authorities responsible for approval of the vehicle and emission test must be particularly vigilant and strict in the obligations imposed on producers national. We are planning a meeting to discuss the issue with them, in detail, “he added Caudet.
The number one operating company Martin Winterkorn spoke yesterday in a statement: not publicly admitted fraud, but it looked forward with great attention to the accusations, he has appointed a committee of external investigation and was made available in Washington to clarify as soon as possible and as clearly happened. Then he apologized to customers.
They were blocked while sales on the North American market of the offending vehicles, both new ones that used ones.
According to the indictment the designers Wolfsburg have developed a software of the control unit of the engine, which in conditions of normal use eluded emission limits returning operating during the approval procedures or control. This is particularly serious because the Americans have always been skeptical about the engine oil because of the problems of emissions and Volkswagen wanted to use this engine to penetrate the US market where it has never had a major role.
n Germany now fears that the case may involve the entire German industry that has always made the diesel a privileged its assets. They immediately received many requests for resignation Winterkorn. Meanwhile, the indignation is general and the White House says “quite worried”.
A theoretical calculation – based on the available figures – eventually leads the German newspaper Spiegel online to conclude that VW may have to pay up to $ 18 billion of sanctions (if you follow the criterion of having to pay $ 37,500 for each car sold). The cooperation shown by Winterkorn, however, should greatly reduce the amount, according to some analysts Vw may be required to pay no more than $ 1 billion.
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