VW managed to squeeze out yet another deadline extension from the courts. I wonder just how panicked they really are in the Wolfsburg "Situation Room"?
VW managed to squeeze out yet another deadline extension from the courts. I wonder just how panicked they really are in the Wolfsburg "Situation Room"?
Probably as panicked as BP after the gulf spill. Or Exxon after valdeze. From my view, history is on their side on how punishments are actually implemented on big corporations.
Link?
Storz wrote: Link?
Yeah that, I couldn't find anything "new" other than how much money has been set aside and how much they estimate buy backs to cost them. They've got until June 21st to publicly disclose their final plan, and July 26th for the final hearing on their plan.
bigdaddylee82 wrote:Storz wrote: Link?Yeah that, I couldn't find anything "new" other than how much money has been set aside and how much they estimate buy backs to cost them. They've got until June 21st to publicly disclose their final plan, and July 26th for the final hearing on their plan.
You are right...I misread the or misinterpreted the deadline. I am one deadline extension behind.
what I did find when I went back was this from Road and Track confirming what you mention:
http://www.roadandtrack.com/new-cars/car-technology/news/a28916/vw-tdi-emissions-settlement/
In a California court today, the United States government and Volkswagen announced a concrete plan to address the approximately 600,000 diesel-powered vehicles affected by VW Group's "emissions defeat device." Updated April 22nd to add details. According to the preliminary "agreement in principle," Volkswagen will give owners the option to sell affected TDI vehicles back to VW, or to have the vehicle modified to meet emissions standards. Consumers who have leased an affected vehicle will be allowed to cancel their lease agreements.
Does this then only apply to California or is it nation-wide?
Hey, VW looks like small fry now that Mitsubishi has admitted they've been cheesing emissions since 1991!
In reply to NickD:
What are you talking about?
"On April 21, we learned that the Japanese car maker had been falsifying fuel economy tests in its home market. This came to light after Nissan (which rebadges some Mitsubishi cars) discovered the engines couldn't match Mitsubishi's numbers. That alone would have been bad enough—indeed, it wiped out a third of Mitsubishi's share price—but it seems it was just the tip of the iceberg.
On Tuesday, Mitsubishi revealed it had been using the wrong fuel economy tests for "Kei" cars—small 0.6L cars made just for the Japanese domestic market—since 1991. More than 600,000 affected cars have been sold in Japan during that time."
Mitsubishi stocks are in a freefall currently. My guess is, this is the last nail in Mitsu's long-constructed coffin.
In reply to Trackmouse:
http://arstechnica.com/cars/2016/04/mitsubishi-admits-to-faking-fuel-economy-tests-since-1991/
over inflating tires during testing to boost fuel economy, particularly in their micro-car segment.
It's not clear what the blowback will be there. Our government bent over ass-backwards to keep domestic OEMs from failing. Im not sure what stake the Japanese government has in enforcing Mitsubishi out of existence.
NickD wrote: Mitsubishi stocks are in a freefall currently. My guess is, this is the last nail in Mitsu's long-constructed coffin.
Immediately checks dealer inventory of Lancer Evos, ready to pounce on potential deals
Vigo wrote: It's not clear what the blowback will be there. Our government bent over ass-backwards to keep domestic OEMs from failing. Im not sure what stake the Japanese government has in enforcing Mitsubishi out of existence.
On a relative basis, it's pretty minor. From the number of cars to the potential impact- it's not what VW did.
If Mitsu needs a loan to survive this, I'm sure one will be handed out.
But some of us are pretty darned happy that there is a domestic OEM field out there. Just sayin.
But they built such nice Zeros back during WWII.
But some of us are pretty darned happy that there is a domestic OEM field out there. Just sayin.
I am too. When it comes right down to it i'd rather a lot of blameless people get to keep their jobs even if that means a few bad actors do as well. I'm very much for white collar accountability and very much against letting huge corporations fail when it serves no punishment to all the perpetrators with their golden parachutes but dumps a bunch of middle class workers into the street.
Im not exactly pro-bailout in general but im very pro-'government creating big disincentives for upper management to run companies/economies into the ground and then ride off into the sunset rich as berkeley'. That's the part we keep screwing up. Not enough disincentives.
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