• VW acknowledges 11 million cars have Emissions bypass.
    16 replies, posted
[quote]A scandal that has undermined Volkswagen in the United States spread to its core market of Europe on Tuesday, after the company said that 11 million of its diesel cars worldwide were equipped with software that was used to cheat on emissions tests. Volkswagen did not provide information on where the affected cars are, but the overwhelming majority are probably in Europe, where the company dominates the market and accounts for more than one of every four cars sold.[/quote] [url]http://www.nytimes.com/2015/09/23/business/international/volkswagen-diesel-car-scandal.html[/url]
The fine is predicted to be roughly $38,500 per affected car in the U.S, so that's going to rip a big amount of money from them, and the EU will most likely impose a similar form of fine. They deserve it for purposefully trying to bypass laws that protect the environment.
[QUOTE=MissZoey;48738717]The fine is predicted to be roughly $38,500 per affected car in the U.S, so that's going to rip a big amount of money from them, and the EU will most likely impose a similar form of fine. They deserve it for purposefully trying to bypass laws that protect the environment.[/QUOTE] That's the maximum fine. It won't be the maximum. It never is.
is there any defense for this? Like i'm worried they'll just be able to backchannel pay their way out of the worst penalties
watch the stocks fall. wait a week or two: buy stocks profit in a year or 2
[QUOTE=Adeptus;48738981]watch the stocks fall. wait a week or two: buy stocks profit in a year or 2[/QUOTE] I feel it will take less than a year
[QUOTE=Adeptus;48738981]watch the stocks fall. wait a week or two: buy stocks profit in a year or 2[/QUOTE] I was thinking of doing this, but then I saw that one stock is almost as much money as I have.
[QUOTE=Adeptus;48738981]watch the stocks fall. wait a week or two: buy stocks profit in a year or 2[/QUOTE] Depending on how much they end up being fined, and how much this hurts their reputation and the reputation of diesel cars as a whole, this could end up costing them quite a lot over a long period of time. Nevertheless, VW still has strong fundamentals and they will bounce back from this.
[QUOTE=DChapsfield;48738797]is there any defense for this? Like i'm worried they'll just be able to backchannel pay their way out of the worst penalties[/QUOTE] over regulation of diesels in some countries and it probably being more economical to just put it in every car even if not strictly required
How could they think they'd get away with this? I don't get it. They know shit like this is taken seriously and the hammer will and has come down when they find out.
Fuck 'em up Europe.
[QUOTE=Zephyrs;48738738]That's the maximum fine. It won't be the maximum. It never is.[/QUOTE] Could be because this was a malicious intent to bypass laws, not some manufacture oversight that made the car accidentally bad, they engineered this into the design of the car It's one thing to accidentally make a defective car, its another to actually intend to make one that tricks regulators, and they're the ones who are going to decide the fines, they have to be tough on vw on this one. Vw can raise the capital regardless, they could even go so far as to trade stock instead of money
They will put up a deal to either de-tune the vehicles or retro-fit emissions systems and pay a small fine.
[QUOTE=Adeptus;48738981]watch the stocks fall. wait a week or two: buy stocks profit in a year or 2[/QUOTE] They fell around 30 points and now its looking like it has leveled off. It might drop again depending on how much they end up having to pay but in the end you might only make $50 dollars or so per stock.
I'm still going to buy a Golf
[QUOTE=MissZoey;48738717]The fine is predicted to be roughly $38,500 per affected car in the U.S, so that's going to rip a big amount of money from them, and the EU will most likely impose a similar form of fine. They deserve it for purposefully trying to bypass laws that protect the environment.[/QUOTE] "big amount of money" would be an underestimation. Thats $423.5 billion total
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