Milan – Volkswagen is preparing to enter the history of automotive recalls: the new CEO, Matthias Mueller, said its top managers that “in the coming days” will be considered to fall by dealers cars that mount the Software scandal, one that stacks the emissions during the test of approval, for its removal. It is 11 million vehicles it will be a maxi-operation that will cost billions to the German giant. The news, reported by Reuters , has emerged from a meeting with a thousand senior executives of the group, behind closed doors, where Mueller also announced a reorganization of the main brand of the VW group: he is given greater autonomy, as do luxury brands Audi and Porsche, in a bid to cut costs. “We can only proceed step by step, we have a long work to do,” said the CEO.
The news from Wolfsburg is overshadowing concerns reported by the Bank of Italy in Parliament hearing, according to which the dieselgate is added “This uncertainty in global markets” and constitutes a threat to the recovery. Is not enough, The Japanese government has ordered an investigation on the major car manufacturers premises (Toyota, Nissan, Mazda and Mitsubishi) and importers of European brands to see if their vehicles meet the standards on emissions of polluting gases. Similar measures have already been adopted by several other countries, including Britain, France and South Korea. The results of the checks, he announced Transport Minister, Akihiro Ohta, will be delivered next Friday. According to reports from Bloomberg , also Sweden is considering its own investigation.
The cars involved and references. The new CEO Mueller announced that “in the coming days,” the 11 million vehicles involved in the scandal will be recalled from dealers for a readjustment that will remove the offending programs. A big operation that will exceed 10 million recalled by Toyota (accelerator problems in 2009-2010), but even more numerous were the recalled vehicles for more homes for defective airbags. Analysts say it will cost more than 6.5 billion allocated so far it remains to be seen what the technical solution adopted to fall into line with permitted by law without the ‘trick’, but some experts have come to count more than 20 billion dollars in costs for the operation. Experts note that in fact a remedy at low prices to the replacement of ‘software makeup artist’ would be devastating to the performance of vehicles, causing competitors to take advantage of unscrupulous. In addition, customers would have good reasons to ask for damages, especially if at the same petrol can walk less kilometers. If you switched to the solution instead of adding a system of emission treatment, you would get the desired result without affecting the performance, but at the cost of thousands of dollars per car. And the bill so far did not consider the US fines for the scam, which for some will come to $ 18 billion. It updates the meantime details of VW vehicles involved in the scandal: the German company says that 1.8 million are commercial ones (vans and pickups) that mount the software deceiver, on 11 million total. For the rest, the count is currently about 5 million to Volkswagen, Audi 2.1 million and 1.2 million Skoda. Seat, however, confirmed that 700 thousand vehicles on which the software was installed.
Bank of Italy. In the hearing on the Def update note, before the budget committees of the Senate and House, the deputy director general of the Palazzo Koch, Luigi Federico Signorini pointed out that “this uncertainty in global markets has been added in recent days that connected with the possible effects are difficult to quantify, the Volkswagen scandal on the auto sector and the expectations of investors and consumers. ” Signorini said that “the euro area recovery has intensified since late last year,” but “to strengthen the European economy contrasts with a significant weakening of economic activity in China and other emerging economies. So far ‘ effect of this slowdown on the advanced economies did not affect us; it is a factor of uncertainty for the future could bring a reduction of the overall outlook for demand and inflation and a negative impact on investor confidence. “
Meanwhile continue the repercussions on the stock market for the title of Volkswagen, which is still suffering in Frankfurt. According to reports from the Financial Times , the sovereign fund of Qatar loses 12 billion dollars with falling stocks Volkswagen, Glencore and Agricultural Bank of China, three of its largest investment of its fund by 250 billion dollars. The only loss for the decline in stocks Volkswagen is 8.4 billion dollars. The action of the car manufacturer responsible for the scandal emissions, however, from October 6 will be deleted from the Dow Jones Sustainability Index which groups together companies (theoretically) with sustainability.
EMISSIONS rigged, COSI ‘FAN ALL
From Brussels raise the pressure on the home : “We expect explanations from Volkswagen, and the Commission wants the facts,” says Ricardo Cardoso, spokesman for the Commissioner for Industry, Elzbieta Bienkowska, to sidelines of the meeting between the same Bienkowska and Herbert Diess. The official noted that in Brussels is expected that the German automaker in the center of the scandal of diesel engines under “cooperate with the competent authorities and the rules”.
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