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'Win back lost trust' - VW on emissions scandal

2015-09-22 15:39

'WE SCREWED UP': 'In my German words, we totally screwed up,' says VW USA chief Michael Horn in response to the automaker's emissions scandal. Image: AP / Kevin Hagen

Wolfsburg – Volkswagen shares tumbled more than 20% on Monday, its biggest one-day fall yet, as the automaker plunged into turmoil by accusations from US authorities that it falsified emissions data.

The US Environmental Protection Agency said on Friday Europe's biggest automaker used software for diesel VW and Audi branded cars that deceived regulators measuring toxic emissions and could face up to $18-billion in penalties.

The head of Volkswagen's US division apologised late on Monday for the automaker's use of software designed to help its cars cheat US emissions standards.

VW responds

Andreas Lampersbach, VW's head of corporate and business communications, issued the following: "Volkswagen is working at full speed to clarify irregularities concerning a particular software used in diesel engines.

Read - Emissions scandal: How VW's 'defeat device' works

"New vehicles from the Volkswagen Group with EU 6 diesel engines currently available in the European Union comply with legal requirements and environmental standards."

What about the 'defeat devices'?

VW said: "The software in question does not affect handling, consumption or emissions. This gives clarity to customers and dealers. Further internal investigations conducted to date have established that the relevant engine management software is also installed in other Volkswagen Group vehicles with diesel engines. For the majority of these engines the software does not have any effect.

"Discrepancies relate to vehicles with Type EA 189 engines, involving some eleven million vehicles worldwide. A noticeable deviation between bench test results and actual road use was established solely for this type of engine."

What is VW doing to resolve the situation?

VW said: "Volkswagen is working intensely to eliminate these deviations through technical measures. The company is therefore in contact with relevant authorities and the German Federal Motor Transport Authority (KBA – Kraftfahrtbundesamt).

"To cover the necessary service measures and other efforts to win back the trust of our customers, Volkswagen plans to set aside a provision of some EUR 6.5 billion recognised in the profit and loss statement in the third quarter of the current fiscal year. Due to the ongoing investigations the amounts estimated may be subject to revaluation.

Earnings targets for the Group for 2015 will be adjusted accordingly.

VW emissions scandal: What does it mean for SA?

Overall

VW said: "Volkswagen does not tolerate any kind of violation of laws whatsoever. It is and remains the top priority of the Board of Management to win back lost trust and to avert damage to our customers. The Group will inform the public on the further progress of the investigations constantly and transparently."

More on VW emissions scandal:

VW chief on emissions scandal: 'We screwed up'
Seoul summons VW over emissions scandal
VW emissions scandal: What does it mean for SA?

Huge VW, Audi recall: Diesel car sales stopped

UPDATE: Huge VW, Audi recall: Billions in fines
Berlin: New emission checks from German automakers


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