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Volkswagen 'concludes' CO2 emissions are not a problem
Volkswagen has "largely concluded" that its CO2 emissions problem is smaller than suspected. Based on an internal investigation, the automaker claims that there's no evidence that the fuel consumption numbers had been illegally changed. Their measurement checks reveal that there were only minor discrepancies in a few models that add up to 36,000 vehicles, as opposed to the 800,000 cars that were under initial suspicion. According to a statement "almost all of these model variants do correspond to the CO2 figures originally determined." The models that did reveal false CO2 figures were only off by a few grams and can be readjusted without a recall.
Volkswagen scandal might force it to sell luxury brands
The Volkswagen saga continues, as the company deals with the aftermath of its emissions scandal. According to Reuters, the German automaker has secured a loan of roughly 20 billion euros in order to pay for resulting lawsuits and to compensate consumers whose cars are now worth less following the admission. However, there's a catch. In order to assure that it can pay back the loan, Volkswagen had to confirm that it's prepared to sell off some of its smaller holdings including Bentley, Lamborghini and Ducati.
VW reportedly knew its fuel economy figures were wrong a year ago
If one report is accurate, Volkswagen execs didn't just know that their cars' emission estimates were fishy -- they knew the fuel efficiency figures were off, too. German newspaper Bild claims that top brass was aware of misleading fuel economy estimates about a year ago, or months before it became public. Former CEO Martin Winterkorn reportedly went so far as to yank one model off the market, the Polo TDI BlueMotion, because its fuel consumption was simply too far off the mark (18 percent above estimates).
VW explains how it will fix its European diesel engines
Volkswagen released a short explainer video on YouTube Wednesday, outlining the measures needed to bring its line of EA 189 diesel engines back into compliance with EPA regulations. The EA 189s are the 1.6- and 2-liter diesel engines at the heart of the company's recent emissions scandal that has seen more than 8.5 million cars recalled in Germany alone.
VW's emissions shenanigans may go back as far as 2009
Volkswagen has disclosed to regulators that issues with emissions from its larger cars and SUVs may actually date back more than six years and encompass thousands of more vehicles, the EPA reported on Friday. Essentially, the company is confirming what the EPA accused it of back at the start of the month: that VW, Porsche and Audi SUVs equipped with 3.0 liter, 6 cylinder gas engines were gaming smog tests in the same manner as VW's diesel vehicles. The EPA's investigation is ongoing.[Image Credit: Getty]
EPA plans more real-world emissions tests in light of VW's cheating
Car makers like Volkswagen should have an even tougher time cheating on emissions tests than they first thought. The Environmental Protection Agency has revealed that it'll include considerably more real-world diesel emissions tests as part of its improved inspections. The on-the-road testing isn't as sophisticated as what you'd find in the lab, but it should reduces the chances that companies will fudge results. Moreover, vendors won't get a chance at optimizing for the EPA's new tests -- it's keeping its exact methodology a secret.
VW offers $1,000 in gift cards and vouchers to affected diesel owners
Volkwagen's attempt to compensate vehicle owners who drive one of the models included in the company's emissions scandal is now official. The initial reports were indeed correct, as the company will offer $1,000 in gift cards and other incentives to VW customers. On top of a $500 dealership credit, the 482,000 diesel owners will also receive a $500 Visa gift card that can be used anywhere and free roadside assistance for three years. Audi customers who drive affected vehicles will be privy to the same "goodwill package," too. Owners will have to visit a special website to request the items by entering their car's VIN number and mileage alongside their name and address. Volkwagen says those customers should receive the package in a month. The company is already offering $2,000 in trade-in credit, and with today's announcement, the total compensation for owners of vehicles included in the on-going saga can be worth up to $3,000.[Image credit: Getty Images]
VW will reportedly offer cash to cheated diesel car drivers
If you're feeling burned by Volkswagen's decision to cheat on diesel emissions tests, you might get some compensation for your troubles. Sources for The Truth About Cars understand that VW will launch a "TDI Goodwill Program" that compensates diesel car drivers with cash in the form of prepaid cards. In the US, you'd get both a $500 universal card as well as a VW-only card worth $500 to $750. The automaker isn't confirming details just yet, but it tells the New York Times that it's planning an announcement on Monday. Dealers also tell the newspaper that they're aware of a program in the works, although they don't know the specifics. It may not include the expanded range of cars reportedly tainted by the scandal, though, since VW is denying claims that it cheated with some models.
Volkswagen also lied about its gas-powered cars
Volkswagen admitted in September that it used defeat devices aimed at fooling emissions tests in 11 million of its diesel vehicles -- but now its gasoline models are implicated in the scandal as well. On Tuesday, Volkswagen reported that it understated the level of carbon dioxide emissions of about 800,000 vehicles, including gasoline-powered models. This is the first confirmation that some of Volkswagen's gasoline-run vehicles do in fact exceed carbon dioxide emissions. The company didn't provide details in today's revelation, but it said the conclusion comes after conducting internal emissions tests.
Volkswagen chokes on its first loss in 15 years
After inventing a diesel engine that doesn't emit any harmful gases into the atmosphere, you'd think that VW would never run out of money ever again. Despite this, the German auto maker has just posted a quarterly loss of €3.48 billion ($3.84 billion) which, if we're honest, makes very little sense. After all, the financial documents reveal that the firm was making a pile of money up until September, and then everything drops off a cliff. The only thing that makes sense is if something totally implausible took place, like discovering that the firm was using software in a global system of emissions fraud. But, if we're honest, nobody in their right mind would attempt something so irresponsible as that, would they.
Volkswagen's emissions scandal might affect even more cars
And further down the rabbit hole we go. On top of the 11 million cars already found to be cheating on diesel emissions tests, Volkswagen has also announced that it's investigating to see if other diesel cars have similar software tweaks, the New York Times reports. Specifically, it's looking into cars with its EA 288 diesel motor. All of the cars already affected, including VW's Passat, Jetta and Golf lines, are running a separate EA 189 motor line. The news follows a Reuters report from earlier in the week which claimed the car maker actually had several different emissions cheating solutions. That would make sense if it wanted to cover several different engine types. VW has recalled all of the cars affected by the scandal so far -- some can be fixed with a mere software update, while others might require mechanical tweaks. The company has also said it might compensate its customers for the fall in value of their cars following the scandal, though it won't be offering full refunds.
Volkswagen had 'several' emissions cheating devices
Those suspicions that Volkswagen cooked up more than one defeat device to cheat on emissions tests? They may be well-founded. Reuters tipsters claim that the car maker produced "several versions" of the gadget to suit different diesel engines. VW isn't confirming anything (it's still in the midst of an internal investigation), although it makes sense. The company has had different variants of TDI engines over the years, and different regional emissions standards would have required at least modified software.
VW's 2016 diesels have a different device that may dupe emissions tests
Just when you thought the Volkswagen emissions scandal couldn't get any worse, it might do just that. The automaker revealed to US regulators last week that its 2016 diesel models may have a different device that could help those vehicles earn higher marks on the government's emissions tests. The tech in question is "auxiliary emissions control device" separate from the software on automobiles made between 2009-2015 that was first disclosed last month. This new software heats the pollution control catalyst quicker, boosting the performance of the components responsible for separating harmful nitrogen dioxide into nitrogen and oxygen.[Image credit: Matt Cardy/Getty Images]
Volkswagen may give money to owners of emissions-cheating cars
If you're one of the 11 million owners of a Volkswagen car that's part of the company's huge emissions cheating scandal, you might be getting some compensation for the vehicle's lost value. As reported by ABC News, Volkswagen US CEO Michael Horn (pictured above) testified today in front of a congressional subcommittee and said that the company might pay the owners of affected cars as a way to make up for the fact that resale value for those vehicles (and indeed pretty much any VW out there) is going to drop. However, Horn said that Volkswagen wouldn't be refunding customers money. The company also isn't planning to provide loaner cars for owners, as the affected vehicles are still safe to drive (even though they're releasing up to 40 times more than the EPA's acceptable standard).
Volkswagen's US head knew of possible emissions trouble in 2014
It's no longer a secret that Volkswagen's management was aware of the company's shady diesel emissions practices. Now, however, it's evident that this awareness included some of the car maker's top brass. American group CEO Michael Horn states that he was told of a "possible emissions non-compliance" in spring 2014, or significantly earlier than US execs had hinted at so far. Staff had supposedly told him that engineers would work with the Environmental Protection Agency to fix the problem. Clearly, that didn't happen before word of the scandal got out.
Volkswagen will recall its super-polluting cars in 2016
Matthias Mueller, the man that Volkswagen hopes will save the company after Emissions-gate, has revealed the first stage in his rescue plan. According to Reuters, the executive told German media that the firm will begin recalling its emissions-cheating vehicles in January, with the program running until the end of 2016. Mueller is quoted as saying that the vehicles will all be "fixed" by that date, implying that the company has found a safe way to reduce their emissions levels. In addition, Mueller has revealed that he's using the crisis as justification to conduct a top-down reorganization of the German car conglomerate. The chief has pledged to make his company smaller and less centralized, adding that each of its various divisions will have to justify their contribution to the overall firm. Which, if we're honest, sounds ominous in the extreme.[Image Credit: AFP/Getty]
Volkswagen will fix emissions test-cheating cars ... somehow
Volkswagen is gearing up to fix the cars affected by its diesel emissions cheating scandal -- though the specifics are still up in the air. The company's new CEO, Matthias Mueller, told employees that it'll be reaching out to customers in the next few days about getting their diesel cars retrofitted, Reuters reports. However, it's still unclear how, exactly, VW is going to update those cars. It'll most likely be some sort of software-related fix, since it got into hot water over software that was programmed to misrepresent diesel emissions when cars were being tested. We can expect regulators to scrutinize VW's solution to make sure it's actually solving the problem. It'll also likely affect the mileage and performance of the company's cars, which so far have been some of VW's main selling points. Volkswagen is prepared to spend up to $7.3 billion to clean up the mess, which is getting worse the more we learn (it apparently knew about the test cheating years ago, for one).
The EPA is cracking down hard on auto industry shenanigans
The smogging scandal that has enveloped Volkswagen has also left the Environmental Protection Agency with something of a black eye. So even though the EPA failed to catch on to VW's games this time, the agency is damn sure not about to let it happen again. Like, ever. "The Volkswagen violations before us now make it clear, we need to adapt and step up our oversight," Janet McCabe, acting administrator in the EPA's Office of Air and Radiation, said during a press conference.
Volkswagen CEO Martin Winterkorn resigns amid emissions scandal
Volkswagen CEO Martin Winterkorn announced his resignation on Wednesday, following a tumultuous week for the company. On September 18th, the Environmental Protection Agency ordered Volkswagen to recall 500,000 of its diesel passenger cars because they included software that hid the vehicles' true emissions output from regulators. "I am stunned that misconduct on such a scale was possible in the Volkswagen Group," Winterkorn said in a statement obtained by CNBC. Winterkorn denied any wrongdoing on his own part, but he accepted "responsibility for the irregularities that have been found in diesel engines."
Volkswagen thinks emissions scandal could cost it $7.3 billion
After admitting it had altered software to misreport the emissions of its diesel cars, Volkswagen is allocating some serious money to help it save face. The company said today it's set aside a whopping 6.5 billion euros ($7.3 billion) to "cover the necessary service measures and other efforts to win back the trust of our customers." The US Environmental Protection Agency had previously found that the carmaker was utilizing a "defeat device" (software tricks) that would detect when a car was being tested and enable its full emissions control systems. However, once returned to normal mode, a confirmed 11 million Volkswagen and Audi models sold from 2009 emit high levels of nitrogen oxide, which aids air pollution and can cause respiratory issues.
