The CEO of Continental AG says Volkswagen Diesel Scandal could kill the diesel market in a few countries
Continental AG's CEO says the diesel scandal that Volkswagen finds itself embroiled in could kill the marketplace for diesel vehicles in China, Japan, and United States.
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Elmar Degenhart tells German publication Boersen-Zeitung, "The diesel passenger car could sooner or later disappear from these markets."
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Degenhart also revealed that diesel had a market share of only 1 to 3 percent in these countries. This pales in comparison to Europe where diesels make up 53 percent of the market.
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Interestingly, the diesel scandal hasn't affected sales of diesel vehicles in Europe or the U.S. according to Continental's finance chief last month.
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Source: Boersen-Zeitung via Reuters
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