The Volkswagen Group is facing tough times

The Volkswagen Group is facing tough times. The US Environmental Protection Agency (EPA) has accused the automobile giant of manipulating emissions. In addition to a massive image damage now threatens billions of penalties. After a VW spokesman confirmed the manipulation, the VW share plummeted by more than 20 percent. Experts have already called for the resignation of VW boss Winterkorn.

Up to $ 18 billion in damage

In such extensive fraud cases, the US judiciary takes uncompromising hard. This also got to feel General Motors and Toyota , each had to pay billions . In addition, the CEOs had to pledge compensation before the US Congress. The manufacturers Hyundai and Kia had to pay a three-digit million amount last year, because they did not meet the EPA requirements. How high the penalty for VW fails is still speculated. However, according to various media reports, the EPA could impose up to $ 37,500 civilian death per car . Thus, the penalty would amount to more than 18 billion dollars. In addition, that could beUS Department of Justice and prosecute for violating the Environmental Clean Air Act .

Cheated on Diesel clean

According to recent findings of the US Environmental Protection Agency (EPA) , Volkswagen has cheated on the fuel consumption and emissions tests of its diesel models. Accordingly, a special software was used to the values ​​of the cars on the test bench to beautiful. This has allowed some 500,000 diesels to be sold in states such as California, which are subject to particularly stringent environmental regulations. The fraud is all the worse against the backdrop of the “Clean Diesel” campaign currently underway in the US. In the appropriate TV spots, for example for the VW Jetta TDI VW asks “Is not it time for German engineering?” and promises “no compromise” in the supposedly environmentally friendly model.

Image damage for the entire German car industry

In addition to the harsh financial damage, especially the suffered damage to image for VW should have a long lasting effect. And although it has been bad for VW in the US market for years. Experts fear now even a general image damage for the entire German auto industry .

Stock price crashes

The stock exchanges acknowledged the scandal with enormous price losses. Shortly after the start of trading, the VW share plunged by a good 13 percent. By noon, it was even more than 20 percent , which is the lowest level since 2012. Also, Daimler and BMW each lost about four percent. VW boss Winterkorn promised a comprehensive cooperation with the US authorities, but is still under attack. Works council chief Bernd Osterloh told the “star”: “This must now be cleared up with all consistency and openness, we have to draw conclusions.” The German environmental aid even spoke of intentional injury, because the affected models up to 40 times more highly toxic diesel exhaustwould be ejected as allowed. Meanwhile, the Volkswagen Group stopped selling certain diesel models in the US. This concerns models of the brands VW and Audi.