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Home News Auto News Volkswagen AG: Non-essential Investments To Be Cancelled Or Postponed Volkswagen AG: Non-essential Investments To Be Cancelled Or Postponed Auto News Hans | October 07, 2015 04:52 pm The recent diesel engine emissions scandal affecting Volkswagen AG is expected to have a huge impact on the company’s financial standings. As a direct result of that, the company has announced that all non-essential investments will be cancelled or postponed.This comes CEO Mr. Matthias Müller announced that the company is working on a technical fix to correct the exhaust emissions of over 11 million diesel-powered Volkswagen and Audi vehicles, which was found to have been fitted with an illegal engine management software that selectively disables the vehicle’s exhaust emissions control function.For a majority of the vehicles affected, a software fix is sufficient but some models might require additional hardware. Details of the fix will be made public after the company gets the necessary approval from the German Federal Motor Transport Authority.Muller is unable to provide a figure on the financial impact to the company at present, but acknowledges that it will be huge."While the technical solutions to these problems are imminent, it is not possible to quantify the commercial and financial implications at present," said Muller.He added that the company must now respond swiftly: "That is why we have initiated a further critical review of all planned investments. Anything that is not absolutely necessary will be cancelled or postponed. And it is why we will be intensifying the efficiency program. To be perfectly frank: this will not be a painless process."Volkswagen AG have previously announced that it has set aside 6.5 billion Euros to cover the cost of fixing the affected vehicles, but that might not be sufficient to cover the cost of fines and other potential legal damages. ✕ Let's Connect on Whatsapp We protect your personal information in compliance with the PDPA I agree with Carlist.my Terms of Use and Privacy Policy. I agree to receive personalised communication from Carlist.my and its car sellers, business affiliates and partners. Check out the best car deals in town! Prev Next Special offer - call now! days hours Avg. mkt. Why no price is listed? Sometime dealer wants you to contact for the best price. I Why no price is listed? Sometime dealer wants you to contact for the best price. Related Tags volkswagen Print Related News More Than Just A Service Centre - First VW Technical Centre Opens Auto News Hans | June 30, 2015 Since November last year, Volkswagen Group Malaysia have been embarking on several initiatives to improve its customer satisfaction - starting with ... Volkswagen Shows Off 272PS 3-cylinder Engine with Electric Turbocharging Auto News Daniel Wong | June 27, 2015 Last week Audi showed to the world a 600PS TT concept car with an electric turbocharger, dropping hints that the technology onboard is close to ... Volkswagen Budget Car Family Confirmed For 2018 Launch Auto News Gerard | June 29, 2015 The Volkswagen Group plans to launch a new family of budget cars in 2018 which will cost between 8,000 to 11,000 euros (RM33,785 to RM46,455).This ... Volkswagen Malaysia Expands Its IBT Certified Sales Network Auto News Gerard | August 28, 2015 Volkswagen Malaysia announced that 58 of its sales consultants were recently awarded with the International Basic Training (IBT) certification. The ... Comments
Volkswagen AG: Non-essential Investments To Be Cancelled Or Postponed Auto News Hans | October 07, 2015 04:52 pm The recent diesel engine emissions scandal affecting Volkswagen AG is expected to have a huge impact on the company’s financial standings. As a direct result of that, the company has announced that all non-essential investments will be cancelled or postponed.This comes CEO Mr. Matthias Müller announced that the company is working on a technical fix to correct the exhaust emissions of over 11 million diesel-powered Volkswagen and Audi vehicles, which was found to have been fitted with an illegal engine management software that selectively disables the vehicle’s exhaust emissions control function.For a majority of the vehicles affected, a software fix is sufficient but some models might require additional hardware. Details of the fix will be made public after the company gets the necessary approval from the German Federal Motor Transport Authority.Muller is unable to provide a figure on the financial impact to the company at present, but acknowledges that it will be huge."While the technical solutions to these problems are imminent, it is not possible to quantify the commercial and financial implications at present," said Muller.He added that the company must now respond swiftly: "That is why we have initiated a further critical review of all planned investments. Anything that is not absolutely necessary will be cancelled or postponed. And it is why we will be intensifying the efficiency program. To be perfectly frank: this will not be a painless process."Volkswagen AG have previously announced that it has set aside 6.5 billion Euros to cover the cost of fixing the affected vehicles, but that might not be sufficient to cover the cost of fines and other potential legal damages. ✕ Let's Connect on Whatsapp We protect your personal information in compliance with the PDPA I agree with Carlist.my Terms of Use and Privacy Policy. I agree to receive personalised communication from Carlist.my and its car sellers, business affiliates and partners. Check out the best car deals in town! Prev Next Special offer - call now! days hours Avg. mkt. Why no price is listed? Sometime dealer wants you to contact for the best price. I Why no price is listed? Sometime dealer wants you to contact for the best price. Related Tags volkswagen
Special offer - call now! days hours Avg. mkt. Why no price is listed? Sometime dealer wants you to contact for the best price. I Why no price is listed? Sometime dealer wants you to contact for the best price.
More Than Just A Service Centre - First VW Technical Centre Opens Auto News Hans | June 30, 2015 Since November last year, Volkswagen Group Malaysia have been embarking on several initiatives to improve its customer satisfaction - starting with ...
Volkswagen Shows Off 272PS 3-cylinder Engine with Electric Turbocharging Auto News Daniel Wong | June 27, 2015 Last week Audi showed to the world a 600PS TT concept car with an electric turbocharger, dropping hints that the technology onboard is close to ...
Volkswagen Budget Car Family Confirmed For 2018 Launch Auto News Gerard | June 29, 2015 The Volkswagen Group plans to launch a new family of budget cars in 2018 which will cost between 8,000 to 11,000 euros (RM33,785 to RM46,455).This ...
Volkswagen Malaysia Expands Its IBT Certified Sales Network Auto News Gerard | August 28, 2015 Volkswagen Malaysia announced that 58 of its sales consultants were recently awarded with the International Basic Training (IBT) certification. The ...