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Volkswagen Shares Fall on Fears of Bigger U.S. Penalty (WSJ registration link)
Yahoo says $48 billion is the upper number.
VW faces billions in fines as U.S. sues for environmental violations
There is no way for VW to recover the $48 billion fines from its car sales in the USA. They are not Toyota with a massive stake in the USA market
I'm going to be surprised if the ultimate fine with the feds approaches the earlier estimate of $18 billion. The outfit that really should be fined is Takata but they'll be banko before they have to pay up. Right not they've just been hit with a $70 million dollar fine.
Takata Emails Show Brash Exchanges About Data Tampering (NY Times)
Be hard for Germany to slap trade sanctions on Ford or GM and not shoot themselves in the foot. There's about 100,000 Ford/GM employees in the EU, including those building Opels or working at Ford of Europe HQ in Cologne.
Maybe a few million in fines and a modification to TDIs.
Lufthansa is the one biggest customer of Boeing 747s and significant number of 777s . All those orders are worth Billions more then any fines VW will ever pay to USA since VW is one third owned by the German Government of lower saxony and one third owned by the labor unions.
Lufthansa flies a lot of Airbuses.
If VW pays any fines over a single $ billion, I will treat you to dinner at a restaurant of your choice
Dinner for you and missus and send me the tab
VW is nowhere making profits on that scale in the USA. So all this talk of multi billions in fines are just a pipe dream. They will cut their losses and walk away or Merkel will call Obama and tell him she will break sanctions against Russia, Iran and North Korea and kick out GM and Ford out of Germany
LOL
Forget the neo-[non-permissible content removed] EPA and the VW , it will be Obama and Angela Merkel who will decide the final outcome .
I also suspect the individual payments to owners will be minimal, high triple digits (if not just a certificate for discounted accessories etc) - although the claims of feeling sad about environmental damage will shoot through the roof, gotta chase that ambulance.
I suspect most of those claims will get tossed out of court. Who of us driving a VW has the coin to fight VW attorneys. No one has been physically damaged by the VW diesels. Least of which the owner driver. He may have spewed NOx on Stever, giving him the notion of suing. :@
Try collecting those fines. It will take years and "billions" of dollars in "lawyers" fees
VW hardly makes any profits in the USA and it can sell more VW and Audi cars to Russia /Iran/China and the Middle East then in he USA.
The motorheads on Edmunds have no clue how International Business is just another side of the coin to International Geopolitics.
My sister was injured in Walmart when a shelf fell on her. 5 inch gash on her arm. Attorney convinced her it was worth a lot of money. She fought the case for 2 years and in the end got just what WM offered her when it happened $5k and doctor bills.
The real trick is to move every ~5 years or so and not give the local organisms time to figure out how to best attack your body. All those people who moved to Arizona for their health had their asthma come back after living there a while.
Kind of begs the question anyway - where's someone going to move who isn't especially bothered by dust but diesel fumes are her asthma trigger?
Desert air is actually a very clean air. It is dry and free of pollution . As long as you don't mind the heat and dust.
Why do you think they park all those airliners in the desert when they don't need them.
The automakers were forced into compliance to build cleaner automobiles, and for this I am eternally grateful---as should be the automakers themselves. It forced them to build a far better product. Too bad VW had to cheat. I guess they just weren't good enough to play fair with Toyota and GM.
NOx emissions standards for cars, are just too unreasonable when hundred other commercial and industrial diesels spew worse emissions.These NOX emissions standards were set to prevent VW from conquering the USA diesel car market from the exorbitantly priced BMW and MB diesels.
TDI are the most economical for the common man and they are threat to the very expensive urea injection diesels of the competitors.
Power + Torque + Mileage + Durablity + Economical = TDI ;
and that equation is the serious threat to the Toyota, GM , BMW and Mercedes Benz diesels in the USA.
Diesel and regular gasoline engines will always share the same destiny, whatever that might be. The American public at least does not see them as separate technologies, just variations on the same technology.
That is exotic variation suitable for only city driving.
Diesel and regular gasoline engines will always share the same destiny, whatever that might be. The American public at least does not see them as separate technologies, just variations on the same technology.
Because gas is cheap in USA then anywhere in Europe and TDI are being victimised by unreasonable emissions standards.
Something to do with diesel not being available at "most" gas stations and the high premiums charged for diesel cars by the established manufacturers like Mercedes Benz , BMW and Audi ..
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2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4
VW refined the diesel engines into smooth clatter free economical and high mileage cars which posed a threat to the existing expensive diesels and also to the gassers.
Enter the Eco-[non-permissible content removed] EPA and CARB to wipe out the TDI threat to the gassers and other expensive diesels