The Volkswagen Group would have insured a credit of no less than 20,000 million euros with various financial institutions. A credit of huge scale, worthy of a state that wants to fund a giant public work. We already know the solution to the engines TDI affected in Europe: it will solve their excessive level of emissions of NOX by means of a reprogramming electronic or through a tube that “sorts” the intake air. Why then has had the Volkswagen Group that ask for a credit so gigantic?
A plastic grid and a new software solution has been in Europe for engines TDI affected.
Up to 13 banks have offered funding packages of between 1,500 and 2,500 million euros, with a cap set of 29,000 million euros. Before you ask for this loans, the German corporation had already provided 6,700 million euros to cope with the costs of solving the problem of emissions of NOX of their vehicles. The concept of the provision is to “remove one hand” funds to meet a future expenditure, which still has not materialised in terms of final amount.
this provision of 6,700 million has recently joined a supply of 2,000 million euros with the aim of compensating states and customers by vehicles whose emissions certified CO2 were lower than the actual. A wonderful situation, in short. But with the low cost of the final solution to the TDI affected in Europe, we wonder why the Volkswagen Group has requested such a credit. The answer could have a lot to do with united States.
The crisis of the TDI has lost a lot of credibility and image of the Volkswagen Group on a global level.
In the US, the German manufacturer has not yet presented a technical solution for the half a million cars affected. A solution that could involve more than a new software, requiring the installation of antipollution additional, at a cost much higher than that of a plastic grid. We remind you that the Group has paid to each owner of a TDI affected a bonus of $ 1,000 for the inconvenience caused. A measure is not extended to Europe, the cost of which has been at least $ 500 million.
This cost of 500 million is ridiculous in comparison to the federal fines – imposed for violating the precepts of the , EPA and CARB – to which you might face in the united States, up to nearly 18,700 million dollars. Although these fines do not reach their maximum amount, the Volkswagen Group is facing hundreds of lawsuits of affected owners on all the world, but especially harmful to the other side of the pond. And if you have asked for such a credit, it seems certain that they will have to make large disbursements.
sales of Volkswagen have fallen by 25% in the U.S. compared to the previous year, and at the global level the results of the Group are fighting for the same reason, although with a lower gravity.
Source: Europa Press