• VW pleads guilty to emissions cheating
    10 replies, posted
[QUOTE]Volkswagen has pleaded guilty to three criminal charges in the US and will pay fines totalling $4.3bn (£3.5bn) to settle charges over the emissions-rigging scandal. The firm will pay $2.8bn in criminal fines and $1.5bn in civil penalties. US Attorney-General Loretta Lynch said VW denied and then lied in a bid to cover up its actions. The fines amounted to one of the biggest clean air penalties ever achieved, she added. Six VW executives and managers have also been charged over their role in the emissions cheating. [/QUOTE] [url]http://www.bbc.co.uk/news/business-38590197[/url]
Will this effect them in any meaningful way?
[QUOTE=BlackMageMari;51656859]Will this effect them in any meaningful way?[/QUOTE] $4.3 billion is a [i]hell[/i] of a lot of money, even for a company as big as VW. [QUOTE=Cructo;51656862][url]https://facepunch.com/showthread.php?t=1548330[/url][/QUOTE] This is a completely different news story.
for perspective on that 4 billion dollar fine, in 2015 VW had a net income of 21.7 billion
[QUOTE=Cructo;51656862][url]https://facepunch.com/showthread.php?t=1548330[/url][/QUOTE] That was one guy, this is the firm.
So.. If a single country fines VW for 4 billion$, where is the end? Will Canada fine them for 2billion$ and then UK, France, Brazil, Ecuador? I have not read myself into the situation, so it would be great if somebody can explain to me what stops the world from fining VW so much that they get to the point of going completely bankrupt?
so will my family get more money for our tdi now that theres actual fines and arrests flying around we havent decided on trading it in yet because we dont get a full refund, just the trade in value before the controversy (despite the "enviromental yet tons of MPG" TDI being the sole reason we bought the car. we got it a year or two before the controversy.) its p bullshit tbh
[QUOTE=freakadella;51657278]So.. If a single country fines VW for 4 billion$, where is the end? Will Canada fine them for 2billion$ and then UK, France, Brazil, Ecuador? I have not read myself into the situation, so it would be great if somebody can explain to me what stops the world from fining VW so much that they get to the point of going completely bankrupt?[/QUOTE] Because it was found that VW did not conform to [B]US[/B] emissions standards by cheating the tests. They programmed their emissions controls to only work properly when it is being tested.
[QUOTE=ZombieWaffle;51658542]Because it was found that VW did not conform to [B]US[/B] emissions standards by cheating the tests. They programmed their emissions controls to only work properly when it is being tested.[/QUOTE] What about other countries emission standards though? I think thats what he is getting at.
Up to the country they sell the cars to I guess. If they have to comply with a country's laws and they don't then theyre liable
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