Matthias Müller, CEO of Volkswagen, in a press conference in December 2015 (FILE)
only Yesterday, Volkswagen issued a press release that was not on the agenda. It announced a profit of 7,500 million euros in the first half of the year, over and above what is expected. However, the figure is “cropped” to just 5,300 million euros, since that provision is made 2,200 million to tackle the consequences of the crisis of the diesel engines or #Dieselgate.
Recall that previously provisionaron 16.200 million euros to cope with sanctions, costs of calls to review, lawyer costs, etc, If we add the two figures together we get 18,400 million euros. Recently came to a preliminary agreement in the united States, Volkswagen will be spent -the change – about 13.864 billion euros… for the moment.
in Addition to the lawsuits with the Federal Government, in addition to three other claims that have presented the states of New York, Maryland and Massachusetts. In these demands, it is argued that from 1999 Volkswagen conspired to create diesel engines that were legalized based traps. Impute the responsibility to the senior officials, including the current CEO, who by then had responsibilities under. The official version points to a group of engineers renegades.
The kings of Spain visited the plant Spanish Volkswagen on the occasion of its 50th anniversary (since its foundation by Authi)
on The 28th of July, we will know the complete financial results for the second quarter
The company has had more benefits than expected due to many factors. On the one hand, the european market is still recovering, and consumers are not giving the back of bulk to the brand Volkswagen. The results of Audi, Skoda or SEAT range apart.
on the other hand, efficiency measures are having an effect. Volkswagen has been engaged in a policy of cost reduction, to achieve a higher margin. In this sense, Volkswagen has not reached the level of profitability of Toyota, their main rival apart from General Motors. The japanese have gone a step ahead since the introduction of the “toyotismo”.
These efficiency measures have not had a negative impact on the Spanish industry. Recently it announced an investment of 1,000 million in the plant navarra de Landaben until 2019, with the goal of making two new models. Not only will the new Pole (and have been there more than 7 million), but a small crossover derived from the same platform. Both models will be based on the MQB, as the new cars of B-segment Volkswagen.
The Volkswagen Tiguan 2.0 TDI recently received the approval of the KBA to fix their engines
on the other hand, Volkswagen has received more orders for fleets, that is to say, of large companies, so he also got a few unexpected sales. Meanwhile, the economic environment remains volatile in emerging markets, mainly Latin america (especially Brazil) and Russia. The “Brexit” has not had a noticeable impact yet.
In the medium term, when you separate the Uk from Europe, the industrial presence of the Volkswagen Group in that country is limited: you just have Bentley and his factory of engines W12. Other manufacturers have much more exposure to “Brexit”, as Nissan, Toyota, Honda, or General Motors, which have large complex manufacturing sites. In general, this appears to not be a huge concern for the German empire, rather than that of any european producer by a lower demand of the british.
more Concerned about the future of the crisis of the diesel engine itself. In Europe are affected almost 10 million cars, all with TDI engines EA189 and displacements 1.2, 1.6 and 2.0. In the case of the 1.6 and put a filter on the intake from the third quarter, and a reprogramming. The 2.0 TDI already are being revised, and for the 1.2 TDI there is a lot of waiting.
Several associations of consumers who buy them, including the OCU, they report that the reprogramming of the 2.0 TDI -at least in the case of the Audi Q5 – it is not used to reduce NOx emissions, but to deactivate the cheat in approval. According to their results, the emissions have been left as they were, but in the laboratory now emit more.
have Not been provided compensation for european customers, or there will be if you do not get through the judicial route. In the european legal system, enough for Volkswagen to rectify the cars to meet the Euro standard 5 (what is supposed to be enforced in his day), but the European Commission has not taken to the courts to the company. You should do this each member state on its own. The National Audience is already in it, among others.
To that in Europe we pay the same compensation in the united States, or to think a buyback bulk of the cars, it would be necessary to cut the benefit of Volkswagen for over 10 years (at least), since the number of affected exceeds loosely to the americans. Is very difficult, therefore, to happen something similar in the old continent.