annual press conference of Volkswagen AG
The German conglomerate has given a few headlines in his annual press conference. According to Matthias Müller, the CEO of Volkswagen AG (replaced resigned Martin Winterkorn), Volkswagen returns to go in the right direction, “2016 has not been the nightmare that many envisioned”. And the numbers give the reason.
The Group was 2016 record of billing (217.267 million euros) and a record operating result (14.623 million). Even after you have provisioned thousands of millions of euros to tackle the scandal of diesel emissions, have earned money.
last Friday, Volkswagen is stated to the authorities of the united States is guilty of three offences of fraud. Assume the guilt will end the process on the fast track. In the air is the fate of an employee of Volkswagen, retained by the US authorities, who will surely go to jail. Oliver Schmidt can accumulate up to 169 years in prison for his participation in the fraud.
If all the customers of the TDI souped-up access to perform the reprogramming, all the cars can be “fixed” this same fall. That is to say, more than 10 million people affected would have received a solution in a little over a year and a half. What the us market is another story, there is no technical solution for all cars, but you have begun to repurchase units affected.
Volkswagen looks ahead, to a future in which there will be technologies for driving autonomous (2021), a complete range of electric vehicles (2025), more mobility services… and intends to maintain the first position of global manufacturers. That position has helped him a lot to Volkswagen to cope with so many costs arising from the scandal.
Of time, “Dieselgate” cost 22.600 million euros
the results of the year 2016 has been declared a liquidity (cold hard cash) more than 27,000 million euros, then the Group can deal with all costs known up to now. However, they should not declare victory and assume that you are going to forget everything so fast.
Of time in the european market is to be seen whether the judges of each country are going to start to give the reason to the owners in mass, and force Volkswagen to compensate them also. In the judicial system of the US is much more easy to get the money to Volkswagen, since it is the manufacturer responsible to confirm the cars following the protocol of the EPA.
In the European Union that is more difficult, because the homologation is done by the authorities of a member country (in this case Germany), which gave by good the approval of the above-mentioned engines, the 1.2 TDI, 1.6 TDI and 2.0 TDI of the family EA189, that is to say, the common-rail, Euro 5. The EU can’t do great thing, but national courts yes, and there are precedents.
That front is not exactly closed, but at the pace things are going, does not mean it is a disaster for their accounts. All the marks give you money, to SEAT. Müller has provided a 4% increase in turnover in 2017 and that the profit margin is between 6% and 7%. On the scale of which we speak, is a lot of money.
In the united States it seems that the nightmare court is ending. All the cars that are to buyback, if you do not find the coming year a way of putting them back in circulation, they will have to desguazarse all. Under the regulations of the US is much more difficult to enforce compliance with the emission standard, the limit is more strict than in Europe.
For the year 2025 Volkswagen will also make changes in its internal structure, a plan known as the Together 2025. There will be less controls, better communication between levels of employees, more prominent role of the woman (occupies less than 15% of staff worldwide), more proactivity… and also agreements of manufacturing in India and China. In the medium term will be the fruits of the bets in emerging countries and subdesarollados (see Africa).
Volkswagen has managed to grow in the face of adversity and overcome the greatest crisis of its history. , if we ignore the practical destruction of their factories in the Second World War and its dark origins (III Reich). In a certain mode, virtually 2016 has been a year round for Volkswagen, despite everything.