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Things getting worse for VW: 2014-16 Cayanne banned; gasoline cars also suspect
Posted on 11/5/15 at 7:56 pm
Posted on 11/5/15 at 7:56 pm
quote:
Following yesterday’s announcement by the EPA of a second notice of violation issued with regard to the VW Group’s 3.0-litre diesel V6 engine, Porsche has announced it will stop selling the Cayenne diesel in the US.
In a short statement, the company said: “Porsche Cars North America, Inc. today decided, in view of the unexpected U.S. EPA notice received yesterday, to voluntarily discontinue sales of model year 2014 through 2016 Porsche Cayenne Diesel vehicles until further notice. We are working intensively to resolve this matter as soon as possible. Customers may continue to operate their vehicles normally.”
quote:
As VW’s new guard deepens its investigation, the revelations keep emerging. Today’s big story is that petrol cars are now implicated, and CO2 claims – far more important to us than the NOx levels that this scandal has so far revolved around – have also been ‘set too low’ during official testing. This means everyday running costs are being dragged into the debate fully for the first time.
“During the course of internal investigations, irregularities were found when determining type approval CO2 levels,” reads a VW statement. “Based on present knowledge around 800,000 vehicles from the Volkswagen Group could be affected. An initial estimate puts the economic risks at approximately two billion euros.”
Yep. This latest sting could cost VW an additional £1.5billion.
LINK
Is the VW stock currently the best short of all time? Will the company survive this?
Posted on 11/5/15 at 7:57 pm to Street Hawk
I thought about the stock when it dropped to $111 but decided to hold out for any additional bad news. Almost time to pull the trigger. At $97.50 today.
This post was edited on 11/5/15 at 8:00 pm
Posted on 11/5/15 at 7:58 pm to Street Hawk
Breh VW isn't going anywhere.
Posted on 11/5/15 at 8:00 pm to tigerbutt
quote:
I thought about the stock when it dropped to $111 but decided to hold out for any additional bad news. Almost time to pull the trigger. At $97.50 today.
What's the stock symbol you are using?
Posted on 11/5/15 at 8:09 pm to Street Hawk
VLKAY is the $26.52 stock price
Posted on 11/5/15 at 8:44 pm to tigerbutt
The cayenne should be banned just because it's so damn hideous.
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