11–20 of 82 posts
Does this mean these cars will be recalled or will the environmental laws be weakened to make them road legal?
As far as we know, all other manufactures complied with environmental regulations. Cars will have to be recalled and it will be a huge hit for VW.
What would happen if all the affected consumers demanded the full purchase price returned to them and returned their used cars? It seems clear that they would win, because they were fraudulent sales. But that would bankrupt VW, right?
Really the car the consumer got was better (to them) than the product ordered. It had better gas mileage, and better performance than it should have had.
The net loser in the trick was the environment (/ the world). If a company does a trick to make money and hurt the environment, the government should step in and make them pay, right? Like if I run a tire shop and secretly burn all my old tires in the back yard.. my customers weren't hurt (directly), but the entire environment was.
I wonder if this will have an effect on Europe's appetite for diesel cars in general going forward. I know they're much more popular over there than here in the US.
The economist has an interesting article out right now, about how the discussion over diesel cars is almost moot with the rapid rise of the electric car globally over the next few years: http://www.economist.com/news/leaders/21666226-volkswagens-f...
Electric cars will never reach that much consumers in Asia as it has in US. Very few people in Shanghai/Seoul/Tokyo own private garage to charge cars in over night.
And this is why Toyota/Hyundai are stubbornly pushing Hydrogen cars.
What would happen if all the affected consumers demanded the full purchase price returned to them and returned their used cars? It seems clear that they would win, because they were fraudulent sales. But that would bankrupt VW, right?
It would instantly bankrupt VW, in almost any way you cut it. I have no idea what the intricacies of German bankruptcy laws are, but I imagine they could cut a deal with car owners, and then emerge back out of bankruptcy in whatever German equivalent manner that would occur. That scenario will never happen though, there won't be enough global coordination between vehicle owners. The only way that type of outcome occu…
Earlier quoted context omitted.
I don't think it's clear that they would win. The cars will be reprogrammed to meet EPA rules, and then they will have less power and use more fuel. The will be worth X on the resale market. Two weeks ago they were worth Y, where X < Y. The damages owners might be entitled to are probably Y-X, not Y.
They should clearly win because they were sold a fraudulent product. If I sold you a gold watch that didn't turn out to be gold I don't just owe you the difference, I owe you back all the money and I go to jail. The good news for VW is that the cars aren't worthless, so they can buy them back and sell them. For people who want to keep their car there will probably also be a cash offer.
What would happen if all the affected consumers demanded the full purchase price returned to them and returned their used cars? It seems clear that they would win, because they were fraudulent sales. But that would bankrupt VW, right?
I don't think it's clear that they would win. The cars will be reprogrammed to meet EPA rules, and then they will have less power and use more fuel. The will be worth X on the resale market. Two weeks ago they were worth Y, where X < Y. The damages owners might be entitled to are probably Y-X, not Y.
What would happen if all the affected consumers demanded the full purchase price returned to them and returned their used cars? It seems clear that they would win, because they were fraudulent sales. But that would bankrupt VW, right?
It would instantly bankrupt VW, in almost any way you cut it. I have no idea what the intricacies of German bankruptcy laws are, but I imagine they could cut a deal with car owners, and then emerge back out of bankruptcy in whatever German equivalent manner that would occur. That scenario will never happen though, there won't be enough global coordination between vehicle owners. The only way that type of outcome occu…
Earlier quoted context omitted.
I don't think it's clear that they would win. The cars will be reprogrammed to meet EPA rules, and then they will have less power and use more fuel. The will be worth X on the resale market. Two weeks ago they were worth Y, where X < Y. The damages owners might be entitled to are probably Y-X, not Y.
If the warranty/purchase agreement indemnifies the manufacturer against lost value, then they won't pay anything. Did you read the whole contract?
Earlier quoted context omitted.
I don't think it's clear that they would win. The cars will be reprogrammed to meet EPA rules, and then they will have less power and use more fuel. The will be worth X on the resale market. Two weeks ago they were worth Y, where X < Y. The damages owners might be entitled to are probably Y-X, not Y.
If the warranty/purchase agreement indemnifies the manufacturer against lost value, then they won't pay anything. Did you read the whole contract?