VW admits emissions rigged in 11 million diesel cars. The title falls (-23%) – Il Sole 24 Ore

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This article was published September 22, 2015 at 9:38.
The last change is the 22 September 2015 at 12:40.

It widens the scandal emissions rigged by Volkswagen and the title on the stock market falls for second day consecutive. In a statement, the German group admits an internal investigation revealed the use of software that altered the offending pollutant emissions, as well as the nearly 500,000 vehicles sold in the US, even in another 11 million diesel cars sold in the rest of the world . The German group also announced record provisions of 6.5 billion in the budget for the third quarter in view of the maxi-fine coming from the American authorities and at this point also by other inspection bodies. The news immediately triggered a flurry of sales in Europe: the title on the stock market falls 23% after -18.6% yesterday.

The press of the
In a statement released this morning, the group of Wolfsburg says that internal investigations have revealed “discrepancies” between reported emissions and actual “eleven million vehicles in the world equipped with diesel engines EA 189,” the same type of engine finished targeted the United States, thus far beyond the 480 thousand vehicles involved overseas. The group “is working hard – continues the statement – to eliminate these deviations … and is in contact with the authorities and with the German Federal Transport Authority (KBA – Kraftfahrtbundesamt).” To cover the costs related to this matter Vw also decided to set aside 6.5 billion EUR from the budget for the third quarter of 2015, numbers that could be reviewed. Even the goals of profit for 2015 will be “reviewed”.

France calls for an investigation “at European level”
Meanwhile, France has called for an investigation “at European level” after the revelation that the German car manufacturer installed on certain models diesel program to fool anti-pollution controls in the United States.
You need an investigation “at European level” to “reassure” the public and also check the other European car manufacturers, He said Finance Minister Michel Sapin, speaking broadcaster Europe 1

EU wants clarity but can not initiate investigation
The European Commission is in contact with the German authorities and by Volkswagen and wants the issue of software to “deceive” the light emission controls to be made, but does not have powers to initiate a sector inquiry. He knows what makes a source Community after the investigation in the United States, noting that the ability to start an investigation of the sector at EU level only affects the field of competition. In any case, the competence on tests on cars is the DG Industry, led by Commissioner Polish Elzbieta Bienkowska.

Use: Volkswagen at the center of criminal investigation of emissions
The US Department of Justice is conducting a criminal investigation of Volkswagen, who admitted to having cheated on tests Federal concerning emissions of nitrogen dioxide of some of its diesel engines. Bloomberg writes citing two US officials. The German automaker – last Friday accused the US government of having deliberately manipulated nearly half a million cars sold in 2008 to circumvent US laws on pollutant emissions – has personally asked pardon for “violating the trust of our consumers and the public.” The said chief executive Martin Winterkon in a statement released yesterday, in which he explained that the group is working with the authorities. Volkswagen – the largest group in the European car sales – has also commissioned an external investigation. The company faces a financial penalty equal to $ 37,500 per car, up to 18 billion.

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