‘A very serious situation’: Volkswagen could close plants in Germany for the first time in history | CNN Business

September 2, 2024 ~ knjohn ~ Leave a comment

Volkswagen is weighing whether to close factories in Germany for the first time in its 87-year history as it moves to deepen cost cuts amid rising competition from China’s electric vehicle makers.

In a statement Monday, the German automaker, one of the world’s biggest car companies, said that it could not rule out plant closures its home country. Other measures to “future-proof” the company include trying to terminate an employment protection agreement with labor unions, which has been in place since 1994.

“The European automotive industry is in a very demanding and serious situation,” said Volkswagen Group CEO Oliver Blume. “The economic environment became even tougher, and new competitors are entering the European market. Germany in particular as a manufacturing location is falling further behind in terms of competitiveness.

VW: Prosecutors in Germany and France widen probes | BBC News

March 9, 2016 ~ knjohn ~ Leave a comment

Prosecutors in Germany and France have broadened their investigations into the emissions scandal at Volkswagen.

Authorities in Paris have opened a formal probe into “aggravated fraud” over the use of diesel engine devices that gave misleading emissions results.

And German prosecutors said the number of VW employees now under investigation has increased from six to 17.

VW, which said it is cooperating with all inquiries, had about 11 million cars fitted with the emissions devices.

Volkswagen branded sales drop for first time in 11 years | BBC News

January 8, 2016 ~ knjohn ~ Leave a comment

German car maker Volkswagen has posted its first drop in VW brand sales in 11 years as the company continues to cope with its emissions scandal.

Sales of VW brand cars fell 4.8% in 2015 to 5.82 million cars from 6.12 million a year earlier.

Falling demand in China and US added to the losses as orders fell in December.

VW has promised it will have a fix in the coming weeks for the millions of US cars with defeat devices that disguised emission levels in diesel cars.

Meet 3 angry Volkswagen owners | CNN Money

September 29, 2015 ~ knjohn ~ Leave a comment

Volkswagen’s costly lie has left the giant automaker in crisis. It has also left its customers feeling confused, cheated and steaming mad.

The emissions scandal affects nearly 500,000 diesel Volkswagen and Audi cars in the U.S. alone — and millions more around the world. The scandal came to light when the EPA said Volkswagen had cheated on smog tests.

U.S. regulators have ordered the company to recall the cars at issue. But VW hasn’t done that yet, nor has it said how it will get the cars to comply with the law or how it will compensate customers.

Bottom line: Who knows what comes next? CNNMoney has heard from many Volkswagen customers in recent days. Here are some of their stories.