the vw scandal in review

by: Mark Kilham, markkilhamfinancial.com

The VW Scandal in Review

http://markkilhamfinancial.com

The VW Scandal in Review : 2008

❖ VW announces new Clean Diesel cars.

❖ Many of these vehicles described in Europe as compliant.

❖ Cars with the test-deception software sold in the UK.

markkilhamfinancial.com



❖ In Europe, some VW models are labeled as “Euro emission class 5”, a change from class 4 in 2008.



The VW Scandal in Review : 2009 +

❖ Sales in the US rebound, Clean Diesels win several environmental awards, while receiving tax breaks.




❖ International Council on Clean Transportation asks WVU CAFEE to illustrate advantages of US diesel technology, with the aim of Europe following suit.




❖ CAFEE finds these cars to have poor road emissions. Results are shared publicly, and the EPA notices



The VW Scandal in Review : 2014 - 2015

❖ EPA conducts the the same tests and wants answers from VW.



The VW Scandal in Review : December, 2014

❖ VW recalls TDI cars (voluntary), does not satisfy CARB and EPA.



The VW Scandal in Review : September 3, 2015

❖ EPA claims they will not certify 2016 diesel models, VW admits to deceptive software installed in cars that allows it to pass emissions test under false pretenses.




❖ EPA publicly announces recall of models from 2009-2015.




❖ VW formally acknowledges the emissions software and apologizes.




❖ VW stock down 20%




❖ VW announces plan to allocate 6.5 Billion Euros to cover costs of bringing recalled cars up to emissions standards.




❖ CEO Winterkorn and other executives resign from their posts.




❖ VW plans to refit as many as eleven million vehicles impacted by the scandal.



The VW Scandal in Review : October 2, 2015

❖ VW site that allows customers to find out whether or not their car is affected goes live.



The VW Scandal in Review : October 8, 2015

❖ VW US CEO Michael Horn testifies in US Congress



the vw scandal in review

Automotive