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GREEN STRATEGIES
Volkswagen Chief Executive Martin Winterkorn resigns

Volkswagen emissions scandal hits Germany´s business and political establishment


The Volkswagen emissions scandal has rocked Germany´s business and political establishment and analysts warn the crisis at the car maker could develop into the biggest threat to Europe´s largest economy.
Ibercampus 24/9/2015 Send to a friend
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Volkswagen is the biggest of Germany´s car makers and one of the country´s largest employers, with more than 270,000 jobs in its home country and even more working for suppliers.

Volkswagen Chief Executive Martin Winterkorn paid the price for the scandal over rigged emissions tests when he resigned on Wednesday and economists are now assessing its impact on a previously healthy economy.

Volkswagen sold nearly 600,000 cars in the United States last year, around 6 percent of its 9.5 million global sales.

The U.S. Environmental Protection Agency said the company could face penalties. Although such a fine would be more than covered by the 21 billion euros ($24 billion) the company now holds in cash, the scandal has raised fears of major job cuts.

The German government said on Wednesday that the auto industry would remain an "important pillar" for the economy despite the deepening crisis surrounding Volkswagen.

The unraveling began in 2013. European regulators, concerned about diesel pollution there, wanted to test emissions on vehicles sold in the U.S. under actual driving conditions. The results were expected to show real-world emissions were closer to lab performance in America than in Europe. But they weren’t. That prompted investigations in California that ultimately involved 25 technicians working almost full time. They discovered the software Volkswagen used to circumvent air-pollution regulations in at least 11 million cars.


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Vanity Fea
Cooperate with people who cooperate
José Ángel García Landa
We can all be leaders
VIDEOCOMMUTING A NEW ORGANIZATIONAL REALITY THAT POSITIVELY IMPACTS EMPLOYEES
Mar Souto Romero
Financial inclusion
Financial Education For All!
Carlos Trias
Brusselian Lights
European elections (I): which words are more used in the European political manifestos?
Raúl Muriel Carrasco
Humor and Political Communication
Comisión de Arbitraje, Quejas y Deontología (Spain) (3) You can´t be too careful
Felicísimo Valbuena
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The People vs Tech "How the Internet Is Killing Democracy"
Theses and dissertations
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