Automotive industry

VW bosses apologize

On the first VW annual General meeting to ask after the announcement of the diesel scandal of the Supervisory Board and Chairman of the Board, the shareholders for forgiveness and promise more transparency.

VW Supervisory Board chief Hans Dieter Pötsch has promoted an understanding of the previously missing report on the elucidation of the exhaust gas crisis. The shifted intermediate state at the time of the question of guilt in the affair, the VW originally scheduled for April had to say, said Pötsch on Wednesday in the annual General meeting in Hannover: “We regret this very much. This decision was for me personally very difficult.” Background of the necessary consideration for an agreement with the authorities in the United States. The combination in the delicate negotiations to make a public transparency with Details of the previous internal investigation impossible. Pötsch described the Diesel crisis in addition, as a historic crossroads for the group. “Volkswagen is in these days before the biggest test in its history.”

As the Central points for the way out of the crisis, the chief inspector called in addition to the elucidation of the affair, the agreement with the authorities and plaintiffs in the United States. There, the scandal took its course, it threaten to recalls and penalties cost Billions. For the compromise in the United States, the competent judge Charles Breyer had renewed recently for a period of up to 28. June. “I had hoped to be able to you today about a comprehensive settlement in the United States reports”, said Pötsch.

The editorial recommends

VW confirmed investigations against Diess

Volkswagen has for the first time confirmed that the public Prosecutor’s office determined against the brand Board of management of the group. The discharge at the annual General meeting is questionable. (21.06.2016)

Voltage before the VW annual General meeting

In Hanover, the shareholders of carmaker Volkswagen. The infected by the exhaust-gas scandal in the deepest crisis in its history. Enlightenment is not to be expected, a lot of criticism. (21.06.2016)

VW without a Diesel?

The boss of Volkswagen of the future of the Diesel engine in his group in question. Müller commented shortly before the Meeting of the VW shareholders on Wednesday, it could be a broken dish.
(21.06.2016)

Prosecutor’s office determined against Ex-VW group boss Winterkorn

In the exhaust gas scandal at VW, the Prosecutor’s office determined against Ex-CEO Winterkorn and other Board of Directors. There is a suspicion of market manipulation in the securities of Volkswagen. (20.06.2016)

Also, VW chief Executive Matthias Müller asked shareholders already at the very beginning of his speech an apology: “This misconduct is against everything that Volkswagen stands for. In the name of the group, and all of the work here, I ask you, our shareholders, for your trust has been disappointed in the apology.” Further, Miller said: “We can’t unmake the past. What is in our hands, is to deal responsibly with it.”

Examination of the claims for damages against the Board

The workup of the diesel scandal VW’s claims for damages against former and current members of the Board want to consider. “The Supervisory Board shall examine the without regard to persons”, – said Chairman of the Supervisory Board Hans Dieter Pötsch. This test is also independent of a discharge to the management Board to Pötsch advertised meeting on the shareholder. After recording of investigations by the public Prosecutor’s office in Braunschweig on suspicion of market manipulation, the Supervisory Board will stay with his application for discharge, said Pötsch. “I have to please the shareholders, the management Board a vote of confidence.”

VW is progressing after initial delays in the repair of manipulated diesel cars. Yesterday, the decision of the KBA received approximately one Million additional vehicles. At the beginning of June, Volkswagen had to call the permission of the Kraftfahrt-Bundesamt (KBA) for around 2.5 million. The repair shall be released by the Bay authority types, because depending on the type, different Software is needed. You should replace the illegal shut-down device, which ensures that the cars emission limits only on the test bench, but not on the road.

Worldwide, Volkswagen must call around eleven million diesel vehicles in the workshops or take back. The largest proportion of 8.5 million to Europe.

zdh/who (rtr, dpa)