Volkswagen taking a hit

[Warden of the Northeast]

Their stock is taking a nosedive due to skulduggery on their part over emissions on 500,000 of their automobiles, and as many as 11 million vehicles could be effected. In essence they programmed their emission units to only operate correctly during tests. Once the cars were back on the road with their owners emissions would go up 40x.

Volkswagen has set aside $7.3B to cover recalls, and the company could be facing fines of up to $18B in the U.S. alone.

They screwed the pooch big time on this one.

 

[Ares]

Sneaky germans....

 

[BaBaBlacksheep]

Sneaky germans....

Racist

 

[Warden of the Northeast]

Sneaky germans....

Automobiles account for 20% of Germany's exports, this is going to ding their economy.

 

[Warrior Spirit]

Automobiles account for 20% of Germany's exports, this is going to ding their economy.

meh, make them feel closer to the rest of their EU friends.

 

[KittiesKorner]

Who will bail the spartans out now?

 

[xer0h0ur]

News like this hurts the Euro big time as Germany is likely their strongest player. They lost 17.1% of their stock value yesterday. I haven't even taken a look at today's movement. That was 12 or 13 Billion Euros that went up in smoke from their stock value. LOL. Fucking idiots.

The Euro dropped 3 cents yesterday before recovering and again today. I imagine this played a large role in the currency tanking. First the refugee crisis was hurting the Euro but this one really kicked em in the balls.

 

[Urblock]

Automobiles account for 20% of Germany's exports, this is going to ding their economy.

Just when they are going to have to pay for all those ISIS guys pretending to be refugees.

 

[truthbedamned]

Just when they are going to have to pay for all those ISIS guys pretending to be refugees.

Get ready....we are going to be getting about a 100,000 of them. But this administration promised to make sure none of them are screaming ALLAH AKBAR as they get off the plane.

 

[Warden of the Northeast]

News like this hurts the Euro big time as Germany is likely their strongest player. They lost 17.1% of their stock value yesterday. I haven't even taken a look at today's movement. That was 12 or 13 Billion Euros that went up in smoke from their stock value. LOL. Fucking idiots.

The Euro dropped 3 cents yesterday before recovering and again today. I imagine this played a large role in the currency tanking. First the refugee crisis was hurting the Euro but this one really kicked em in the balls.

Dropped another 19.8% today, stock price plummeted to $106 per share. It will drop more throughout the week. VW is screwed.

Fahrvergnügen my ass!!!!

 

[Monster]

Owned a GTI in the 80s. One great little car. Very well made.