Jump to content
  • Greetings Guest!

    CheersandGears.com was founded in 2001 and is one of the oldest continuously operating automotive forums out there.  Come see why we have users who visit nearly every day for the past 16+ years. Signup is fast and free, or you can opt for a premium subscription to view the site ad-free.

William Maley

VW News: As the Diesel Emits: Volkswagen's Chairman Feels the Heat During Shareholders Meeting

Recommended Posts

Volkswagen's recent shareholder meeting could be best described as discordant as many shareholders spewed venom at various Volkswagen executives - most being laid on Volkswagen AG Chairman Hans Dieter Poetsch. Bloomberg reports that shareholders grilled various executives on the handling of the diesel emission scandal.

 

Poetsch received the brunt of the criticism with many shareholders expressing concerns of him overseeing the internal investigation of a mess that began when he was the company's CFO.

 

“You are a conflict of interest personified,” said Markus Dufner, managing director of the German Association of Ethical Shareholders meeting.

 

The meeting also featured shouting, arguing, and shareholders trying to remove Poetsch as the chairman of the meeting (which didn't happen).

 

To be fair to the shareholders, it hasn't been a good week for Volkswagen. On Monday, Reuters learned that German prosecutors were investigating former Volkswagen CEO Martin Winterkorn and an unidentified executive on market manipulation before the scandal broke. It was revealed later in the week the unidentified executive was Volkswagen Brand Chief Herbert Diess.

 

Yesterday it was revealed that German financial watchdog Bafin filed a complaint with German prosecutors saying the previous management board should be investigated for how long it took the company to disclose the scandal.

 

So while the fires are dying down on one coast, they are only beginning to heat up on another.

 

Source: Bloomberg, Reuters


View full article

Share this post


Link to post
Share on other sites

My gut tells me we will see a much slimmer and smaller VW after this mess settles down.

Share this post


Link to post
Share on other sites

My gut tells me we will see a much slimmer and smaller VW after this mess settles down.

I don't think anyone will disagree with this. I'm wondering if Volkswagen will be able to do it quickly.

Share this post


Link to post
Share on other sites

 

My gut tells me we will see a much slimmer and smaller VW after this mess settles down.

I don't think anyone will disagree with this. I'm wondering if Volkswagen will be able to do it quickly.

 

You think they can wrap this all up by the end of 2017 or will it drag into 2018 and really hurt the company long term.

 

I wonder what Porsche thinks about tying up with VW now?

Share this post


Link to post
Share on other sites

 

 

My gut tells me we will see a much slimmer and smaller VW after this mess settles down.

I don't think anyone will disagree with this. I'm wondering if Volkswagen will be able to do it quickly.

 

You think they can wrap this all up by the end of 2017 or will it drag into 2018 and really hurt the company long term.

 

I wonder what Porsche thinks about tying up with VW now?

 

The way things are going right now, I don't think all of this will be resolved till 2019 at the earliest.

Share this post


Link to post
Share on other sites

 

 

 

My gut tells me we will see a much slimmer and smaller VW after this mess settles down.

I don't think anyone will disagree with this. I'm wondering if Volkswagen will be able to do it quickly.

 

You think they can wrap this all up by the end of 2017 or will it drag into 2018 and really hurt the company long term.

 

I wonder what Porsche thinks about tying up with VW now?

 

The way things are going right now, I don't think all of this will be resolved till 2019 at the earliest.

 

 Then based on your resolve date, then I am even stronger in my conviction that VW will be about 50% of who they are today by that time and could even be free of a name plate or two if it stretches much further.

Share this post


Link to post
Share on other sites

 

My gut tells me we will see a much slimmer and smaller VW after this mess settles down.

I don't think anyone will disagree with this. I'm wondering if Volkswagen will be able to do it quickly.

 

Just saw on the AP VW is settles with buying back some cars, giving a choice of fixing or buying back other cars and paying fines and settling this whole mess.

 

http://bigstory.ap.org/article/398cf8b79483423abf48d10f5f9848fd/source-vw-govt-ink-deal-pay-owners-cheating-diesels

Share this post


Link to post
Share on other sites

The deception happened in something they had doubled down on to make up for a lack of investment in HEV technology.

 

Now VW is trying to make a wholesale jump straight to EV's. 

 

It's going to be very expensive, and without much fruit at first. But also...diesel days are now relegated to even more niche uses.

 

Actually in GTA, and I presume all of Canada now, diesel is usually 10-15 cents cheaper per litre, so if you have a diesel vehicle now subject to the VW recall or diesels in  general, you're getting FANTASTIC mileage and paying less at the pump. But it's not a safe bet to hedge on for too long.

Share this post


Link to post
Share on other sites

Your content will need to be approved by a moderator

Guest
You are commenting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.




  • Similar Content

    • By William Maley
      Volkswagen's Chattanooga, TN plant will soon have two more vehicles rolling off the line.
      Hinrich Woebcken, VW's North American CEO told Autocar that the upcoming I.D. Buzz and Crozz EVs for the region will be built at Chattanooga.
      “For strong product momentum, they need to be produced in the USA. It’s not possible to come into a high-volume scenario with imported cars. We want to localise electric mobility in the US,” said Woebcken.
      Woebcken also revealed that the models would be 'Americanized'.
      Source: Autocar

      View full article
    • By William Maley
      Volkswagen's Chattanooga, TN plant will soon have two more vehicles rolling off the line.
      Hinrich Woebcken, VW's North American CEO told Autocar that the upcoming I.D. Buzz and Crozz EVs for the region will be built at Chattanooga.
      “For strong product momentum, they need to be produced in the USA. It’s not possible to come into a high-volume scenario with imported cars. We want to localise electric mobility in the US,” said Woebcken.
      Woebcken also revealed that the models would be 'Americanized'.
      Source: Autocar
    • By William Maley
      We know that the current Volkswagen Beetle will soon be heading off to the great parking lot in the sky sometime next year, and that a direct replacement will not happen. But there is talk about bringing back the Beetle as an electric vehicle.
      Volkswagen's design chief Klaus Bischoff revealed to Autocar that he has already made a sketch of a possible Beetle EV, but it will be some time before the automaker makes a decision whether to move forward with this or not. Some of this comes down Volkswagen wanting to get the bigger-selling electric cars into production first (see I.D. hatchback and  I.D. Crozz) before moving onto the 'emotional' models.
      “Our duty is to get the volume [ID] models under way. These cars have super-complicated technology and if you do too much, it’s an overload. Then we [can] move into more exotic cars and the field of emotion,” said Bischoff.
      If Volkswagen does give the green light for a Beetle EV, what could it look like? According to Autocar, the model could grow in size and get two extra doors.
      “The Beetle of today is a very attractive two-door coupé or convertible, but it is limited in the amount of cars that it can sell because it’s a niche. If you look at MEB, the shortest wheelbase [possible] is the ID [hatchback]. If you took that and did the Beetle on it, you have plenty of room so there’s no compromise in functionality any more. So it could be a very attractive car,” explained Bischoff.
      We know there is a fan of an electric Beetle, Volkswagen Group CEO Herbert Diess.
      “We could [build an electric Beetle], because it is rear-wheel drive, no grille. If we wanted to do a Beetle electrically, it would be much better than the current car. Much closer to the history of the Beetle," Diess told Car and Driver back in October.
      Source: Autocar

      View full article
    • By William Maley
      We know that the current Volkswagen Beetle will soon be heading off to the great parking lot in the sky sometime next year, and that a direct replacement will not happen. But there is talk about bringing back the Beetle as an electric vehicle.
      Volkswagen's design chief Klaus Bischoff revealed to Autocar that he has already made a sketch of a possible Beetle EV, but it will be some time before the automaker makes a decision whether to move forward with this or not. Some of this comes down Volkswagen wanting to get the bigger-selling electric cars into production first (see I.D. hatchback and  I.D. Crozz) before moving onto the 'emotional' models.
      “Our duty is to get the volume [ID] models under way. These cars have super-complicated technology and if you do too much, it’s an overload. Then we [can] move into more exotic cars and the field of emotion,” said Bischoff.
      If Volkswagen does give the green light for a Beetle EV, what could it look like? According to Autocar, the model could grow in size and get two extra doors.
      “The Beetle of today is a very attractive two-door coupé or convertible, but it is limited in the amount of cars that it can sell because it’s a niche. If you look at MEB, the shortest wheelbase [possible] is the ID [hatchback]. If you took that and did the Beetle on it, you have plenty of room so there’s no compromise in functionality any more. So it could be a very attractive car,” explained Bischoff.
      We know there is a fan of an electric Beetle, Volkswagen Group CEO Herbert Diess.
      “We could [build an electric Beetle], because it is rear-wheel drive, no grille. If we wanted to do a Beetle electrically, it would be much better than the current car. Much closer to the history of the Beetle," Diess told Car and Driver back in October.
      Source: Autocar
    • By William Maley
      We're coming up on three years since the Volkswagen diesel scandal came to light. It caused the German automaker to spiral downward with various fines, lawsuits, people either stepping down or being arrested, and sales tanking. By now, you would think that the pain is done and over. But you would be wrong.
      Reuters reports today that prosecutors in Germany have fined Volkswagen a billion euros ($1.18 billion) over diesel emission cheating. In a statement, Volkswagen will accept the fine, therefore admitting responsibility for the cheating.
      "Following thorough examination, Volkswagen AG accepted the fine and it will not lodge an appeal against it. Volkswagen AG, by doing so, admits its responsibility for the diesel crisis and considers this as a further major step towards the latter being overcome," the company said.
      By accepting the fine, Volkswagen hopes "the active regulatory offence proceedings" being conducted will come to an end. It will unlikely end the various criminal cases that German prosecutors are working on against various Volkswagen executives.
      Source: Reuters

      View full article
  • My Clubs

  • Recently Browsing

    No registered users viewing this page.

  • Reader Rides

About us

CheersandGears.com - Founded 2001

We ♥ Cars

Get in touch

Follow us

Recent tweets

facebook

×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.