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FCA's 5-Year Briefing To Not Feature Chrysler, Dodge, or Fiat
William Maley posted an article in Fiat
Tomorrow will be Fiat Chrysler Automobile's final five year plan being presented under current CEO Sergio Marchionne. We reported on what is expected to be talked about yesterday in the rumor pile. Today, we have gotten a clear picture of what will be presented in the plan. Automotive News found the schedule for the five-year presentation on a company website before being taken down. The schedule features sections for Jeep, Ram, Maserati, Alfa Romeo, Autonomous Driving and Connectivity, and CO2 reduction. Not listed on the schedule were Chrysler, Dodge, and Fiat. This unsurprisingly sent a number of people into a tizzy as they see this as a possible hint that these brands are going bye-bye. An FCA spokeswoman said Chrysler and Dodge will be talked about in other presentations "as appropriate." We're not sure this inspires confidence. Source: Automotive News (Subscription Required) -
Tomorrow will be Fiat Chrysler Automobile's final five year plan being presented under current CEO Sergio Marchionne. We reported on what is expected to be talked about yesterday in the rumor pile. Today, we have gotten a clear picture of what will be presented in the plan. Automotive News found the schedule for the five-year presentation on a company website before being taken down. The schedule features sections for Jeep, Ram, Maserati, Alfa Romeo, Autonomous Driving and Connectivity, and CO2 reduction. Not listed on the schedule were Chrysler, Dodge, and Fiat. This unsurprisingly sent a number of people into a tizzy as they see this as a possible hint that these brands are going bye-bye. An FCA spokeswoman said Chrysler and Dodge will be talked about in other presentations "as appropriate." We're not sure this inspires confidence. Source: Automotive News (Subscription Required) View full article
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Weeks before the Volkswagen diesel emission scandal came to light, several executives were reportedly warned about the possible costs during a meeting. German tabloid Bild am Sonntag reports that Oliver Schmidt, a Volkswagen executive that was arrested earlier this year in U.S., said the costs of diesel emission cheating could cost the company up to $18.5 billion during a presentation held on August 25, 2015. Those that attended the presentation included former Volkswagen CEO Martin Winterkorn, VW's development chief at the time Heinz-Jakob Neusser, and Volkswagen brand chief Herbert Diess. This information comes from U.S. investigation documents obtained by the paper. The issue at hand is that German law requires a company publish any news dealing with the stock in a timely fashion. Volkswagen notified investors about the cheating on September 18, almost a month after this reported meeting. A number of Volkswagen investors have filed suit against the company due to the losses from the diesel emission scandal. German prosecutors are also investigating Volkswagen into possible market manipulation. Source: Bild am Sonntag via Reuters -
Weeks before the Volkswagen diesel emission scandal came to light, several executives were reportedly warned about the possible costs during a meeting. German tabloid Bild am Sonntag reports that Oliver Schmidt, a Volkswagen executive that was arrested earlier this year in U.S., said the costs of diesel emission cheating could cost the company up to $18.5 billion during a presentation held on August 25, 2015. Those that attended the presentation included former Volkswagen CEO Martin Winterkorn, VW's development chief at the time Heinz-Jakob Neusser, and Volkswagen brand chief Herbert Diess. This information comes from U.S. investigation documents obtained by the paper. The issue at hand is that German law requires a company publish any news dealing with the stock in a timely fashion. Volkswagen notified investors about the cheating on September 18, almost a month after this reported meeting. A number of Volkswagen investors have filed suit against the company due to the losses from the diesel emission scandal. German prosecutors are also investigating Volkswagen into possible market manipulation. Source: Bild am Sonntag via Reuters View full article
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As we reported yesterday, Volkswagen has decided against revealing the preliminary results of their internal investigation as it would bring “unacceptable risks” to the company. It might have been a good idea as a new wrinkle has appeared in the diesel emission scandal. The New York Times has learned from two sources that a top technology executive prepared a PowerPoint presentation showing the automaker could fool the EPA's emission testing. The presentation was only a few pages long and explained the process of how the EPA did it. The presentation also talked about how the test could be fooled by a piece of code in the engine management software, turning on equipment that would reduce the amount of emissions produced. The obvious question is why? Back in 2006, engineers at Volkswagen's r&d complex realized that the emission equipment in their new diesel engine would wear out faster if it was set up for the U.S. emission standards. This presentation provided a possible solution. It is unknown who and how many people saw this presentation. But it brings doubt into Volkswagen's claim that a small group of employees knew about the cheat. The Times also reports that Martin Winterkorn - the former chief executive for Volkswagen - rejected proposals from low-ranking employees. According to sources who attended meetings with the management board, the proposals were tossed out as it would increase the price of Volkswagen vehicles. Unsurprisingly, Volkswagen declined to comment. Source: The New York Times -
As we reported yesterday, Volkswagen has decided against revealing the preliminary results of their internal investigation as it would bring “unacceptable risks” to the company. It might have been a good idea as a new wrinkle has appeared in the diesel emission scandal. The New York Times has learned from two sources that a top technology executive prepared a PowerPoint presentation showing the automaker could fool the EPA's emission testing. The presentation was only a few pages long and explained the process of how the EPA did it. The presentation also talked about how the test could be fooled by a piece of code in the engine management software, turning on equipment that would reduce the amount of emissions produced. The obvious question is why? Back in 2006, engineers at Volkswagen's r&d complex realized that the emission equipment in their new diesel engine would wear out faster if it was set up for the U.S. emission standards. This presentation provided a possible solution. It is unknown who and how many people saw this presentation. But it brings doubt into Volkswagen's claim that a small group of employees knew about the cheat. The Times also reports that Martin Winterkorn - the former chief executive for Volkswagen - rejected proposals from low-ranking employees. According to sources who attended meetings with the management board, the proposals were tossed out as it would increase the price of Volkswagen vehicles. Unsurprisingly, Volkswagen declined to comment. Source: The New York Times View full article
