Volkswagen is in big trouble after being accused for emission cheating and stock stealing from the United States Environmental Protection Agency. If this happens to be true they will lose many customers and clients. For the most important they will lose their long built trust that the company has been known for and of course for the quality of their vehicles.
In fact the pressure is piled on the chief of Volkswagen. He is being accused of wiping around 15 billion euro ( $16 US billion) as stock value. The following money are literally missing from the company’s market value.
Around 500.000 diesel cars were found with bad emission. The tests showed that the following cars are programmed to only activate their emission controls during laboratory testing. This is a big bad review for the Volkswagen company and they know it. Their headman Martin Winterkorn has announce his apologies as they broke the main thing they were known for – trust to the customers.
However his statement was not enough for the investors who decided to pull out their invested money in the company. In Frankfurt, Volkswagen has lost around 17 percent of their money. This is quite shocking for them, but also for the world. Who would ever suspect that this could happen to the known Volkswagen?
The CEO Martin is going to face some difficult questions in the following day. This will be hard to get pass by even for the headman of the German company. We do not believe that he can manage to escape from this situation.
An English professor has announced some strong words. He said that if Volkswagen was a United States company, the chief could go out without any problem. In spite of that, we are sure that the CEO is going to defend himself by saying that he did not know about the way the emissions were installed. The same thing was announce by Guido Reinking who is German vehicle expert. He said that Martin is an engineer and it is impossible not to know the programming of the engine.
Volkswagen also got orders from EPA to fix their cars, at their own account. The car drivers are going to be relieved to hear this, because it would be a shame if they pay the money from their own pocket. And this is not only good for the car drivers but for the environment too, because they are bad for health.
Now we can just wait and see what will happen further. We do not know what to expect, because at this moment anything is possible. The CEO might walk free, he might even not need to pay penalty, or the worse he might stay at the company. We hope that in future they will bring bake the trust they had to the whole world. This is nearly impossible after this kind of scandal, but we will leave the time to show.