Porsche block sales in the US Volkswagen collapses on the stock market (-9%) – BBC

Scandal

Milan , November 4, 2015 – 09:01

     
     
 

New thud on the stock market for Volkswagen, as well as affected by Dieselgate also by misrepresentation on CO2 emissions of gasoline engines. The action privilege ceded 9.5% to EUR 100.45, falling below the 101 euro. Porsche also under pressure (-8.01% to EUR 40.08). Vw for the bill on the stock exchange is salty: more than 23.5 billion, since the outbreak of Dieselgate. The charges, in fact, are not only aimed diesel engines, but also gasoline. Meanwhile analysts liken the scandal Volkswagen accident in the Gulf of Mexico which hit BP in 2010, associating to serious reputational damage for the second global automotive group, who has been chasing the first place.

The North American subsidiary of Porsche has announced will suspend sales of the Cayenne diesel in 2014 and 2015 on the US market and Canada. American media reported. The decision came after the EPA, the federal environmental protection agency, has accused Volkswagen of having `imbrogliato’ even on diesel-powered cars, including the Porsche Cayenne, planning vehicles for` truccare’ tests on emission of pollutants.

Meanwhile are 98,000 cars with petrol engines affected by the scam emissions . This is confirmed by the German Transport Minister Alexander Dobrindt, speaking at the parliament. The German government has called for a thorough explanation to Volkswagen, after the automaker had denied that the fraud on CO2 emissions was also interested in gasoline engines. The cars may be affected models VW Polo, Golf and Passat, but also Audi A1 and A3, Skoda Octavia, Seat Leon and Ibiza.

“We must expect that the promises made to consumers must be respected ” he explained the government spokesman Steffen Seibert. The EPA, the American body investigating the scandal has written a letter to the head of Volkswagen Michael Horn requesting further information by 16 November on so-called systems designed to circumvent controls on emissions.

The European Union may sanction Volkswagen to be over CO2 limits that apply to all car manufacturers, said the spokesman of the EU Lucia Caudet. “We need to clarify immediately what kind of irregularities on CO2 emissions were detected, what has caused such cars are involved and how the group will strive to remedy it,” adds Caudet. According to EU rules, car manufacturers must not exceed an average CO2 emission limits set for their entire fleet of vehicles. These limits are determined individually for each automaker and become more severe each year. So far, Volkswagen has not sent any notification in Brussels. The Commission is in close contact with all national authorities to get within a few days an accurate picture of the situation. The penalty is applied if the average CO2 emissions of the entire fleet exceeds the annual limits in 2012: for every vehicle registered EUR 5 for the first g / km over the limit, EUR 15 for the second g / km, 25 euro for the third g / km, 95 Euros per g / km further.

4 November 2015 (amendment November 4, 2015 | 18:27)

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