VW emissions scandal continues

Shares in Volkswagen have dropped after it reported ‘irregularities’ in carbon dioxide emissions levels, which could affect around 800,000 cars in Europe.

VW said the problem, which it came across while investigating diesel emissions, could cost the firm around €2bn (£1.4bn).

This new issue could affect brands including VW, Audi, Skoda and Seat and the issue mainly affects diesels, but could also include petrol models.

A VW statement said, ‘The Board of Management of Volkswagen AG will immediately start a dialog with the responsible type approval agencies regarding the consequences of these findings. This should lead to a reliable assessment of the legal, and the subsequent economic consequences of this not yet fully explained issue.’

‘Under the ongoing review of all processes and workflows in connection with diesel engines it was established that the CO2 levels and thus the fuel consumption figures for some models were set too low during the CO2 certification process. The majority of the vehicles concerned have diesel engines.’

‘From the very start I have pushed hard for the relentless and comprehensive clarification of events. We will stop at nothing and nobody. This is a painful process, but it is our only alternative. For us, the only thing that counts is the truth. That is the basis for the fundamental realignment that Volkswagen needs’, Matthias Müller, CEO of Volkswagen, said, and added. ‘The Board of Management of Volkswagen AG deeply regrets this situation and wishes to underscore its determination to systematically continue along the present path of clarification and transparency.’

The statement continued, ‘In cooperation with the responsible authorities, Volkswagen will do everything in its power to clarify the further course of action as quickly as possible and ensure the correct CO2 classification for the vehicles affected.’

‘The safety of the vehicles is in no way compromised. A reliable assessment of the scale of these irregularities is not yet possible.’

The VW board also released a seperate statement that added, ‘The Supervisory Board will continue to ensure swift and meticulous clarification. In this regard, the latest findings must be an incentive for the Supervisory Board and the Board of Management to do their utmost to resolve such irregularities and rebuild trust.’