2009 Volkswagen Cc - Super Clean Only 67k on 2040-cars

Auto blog

VW stock plummets as Euro markets open

The fallout from Volkswagen's installation of an emissions "defeat device" on nearly 500,000 diesel-fueled models in the US is already hitting the automaker hard on the German stock exchange. At one point, the share price plummeted 23 percent to erase the equivalent of $17.6 billion in value. Things eventually bounced back slightly to a still severe 19.23 percent loss, according to Bloomberg as of this writing. The scandal couldn't come at a worse time for chairman Martin Winterkorn. The VW supervisory board takes up the issue of renewing his contract on September 25, Bloomberg reports. If things get bad enough, the door could be open for a new boss to step in. Dealers in the US might start feeling the pain from this, as well. Affected 2015 VWs that are still at showrooms are now under a stop sale. Until the issue is straightened out, the Environmental Protection Agency isn't certifying the company's 2016 diesel models with the 2.0 TDI, either. The diesel emissions problem was first discovered by research from West Virginia University and the International Council on Clean Transportation. In some cases, the engines can produce 40 times more nitrogen oxides than allowed. The automaker could be on the hook for $18 billion in fines for the breach, but the actual figure is expected to be lower. In response, Winterkorn has issued a public apology and ordered an independent investigation into what happened. The EPA and California Air Resources Board have also been looking into the situation. This could become an international problem, though. According to The Detroit News, European authorities might begin similar inquires to check the automaker's diesel emissions there.

Texas sues VW over consumer protection, clean air violations

Texas has filed two suits against Volkswagen, charging that the automaker's emissions rigging violated state consumer protection laws and clean air standards. The lawsuit is part of a probe into the German automaker's diesel scandal being undertaken by 45 states and the District of Columbia. There are also over 250 class action suits that have been filed in US federal courts. Texas Attorney General Ken Paxton said Thursday that his state would seek restitution for consumers, and an injunction and civil penalties to prohibit future violations. Paxton, who himself has been indicted for securities fraud, said in a statement, "When companies willfully violate the public's trust, a penalty must be paid." Paxton said Texans purchased around 32,000 affected vehicles. There are about 49 authorized VW dealerships statewide. The Texas suit is asking for pollution fines of somewhere between $50 and $25,000 per vehicle (quite a spread, we know) for each day the vehicles were in use in the state. Volkswagen admitted in the middle of September that it installed devices designed to defeat government emissions tests on many Volkswagen and Audi diesel cars dating to model year 2009. Globally, 11 million VW group vehicles are affected. The automaker declined to comment to Bloomberg on the Texas lawsuit. Last month, Harris County, which includes Houston, filed a multimillion dollar lawsuit against VW, alleging the automaker contributed to air quality problems. You can find PDFs of the two state lawsuits here (the deceptive-practices case) and here (the environmental case). The AP contributed to this report. News Source: Bloomberg Government/Legal Green Volkswagen Diesel Vehicles vw diesel scandal lawsuit

China sticking to its guns on EVs for the future

Automakers are obviously free to develop whatever next-gen, zero-emissions tech that they want. However, if a company wants to get on the good side of the Chinese government, that strategy better include some plug-in vehicles. The authorities there are lending major support to plug-ins at the moment, and its forcing the auto industry to play along. According to Bloomberg, Toyota, Volkswagen, Hyundai, and BMW are all launching dedicated EV brands with their joint venture partners, and as many as 40 electric models could hit the Chinese market this year alone. However, analysts don't think the vehicles are going to sell well. Instead, the launches are essentially a way for companies to play nice with the government and help get the approval to build factories in the country. Take Toyota as an example. The company is pushing the future of hydrogen hard with promotional films for the Mirai and engineers talking down fast-charging EVs. Still, the Japanese automaker is getting ready to launch two EV brands in China with its joint venture partners, according to Bloomberg. China's push for alternative fuels has been happening for a while, but it really kicked into high gear last year. The government has set a goal to improve fleet-wide economy by 40 percent by the end of the decade in order to spend less importing oil and for the population's health. The plan has shown some success so far with hybrid and EV sales growing early in 2015. Related Video: News Source: BloombergImage Credit: Kin Cheung / AP Photo Government/Legal Green BMW Hyundai Toyota Volkswagen Green Culture Technology Electric tax incentives chinese government