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VW slumps to first quarterly loss in at least 15 years

reuters.com

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Re: VW slumps to first quarterly loss in at least 15 years

#41

Post by autobahn »

DanBC wrote: post #37
ams6110 wrote: post #32

Earlier quoted context omitted.

And they got bailed out by the US taxpayers. I am just astonished at the outrage over some skirting of an arbitrary number in an emissions standard, in contrast to the comparative yawn over the things other automakers have done that they knew would actually kill people.

Diesel emissions kill tens of thousands of people each year. It's probably hundreds of thousands across Europe. VW's scam has added to those deaths. VW killed far more than 150 people.

[Citation Needed]

Re: VW slumps to first quarterly loss in at least 15 years

#42

Post by SilasX »

buster wrote: post #34
softyeti wrote: post #23

I wonder if we are going to discover similar emissions skirting in over manufacturer's vehicles soon.

Already done. It's funny how the press is only talking about VW but meanwhile there are first tests showing that many other manufacturers do/did the same. http://www.theguardian.com/environment/2015/oct/09/mercedes-...

That wasn't "the same". In those cases, they optimized for the kind of environment the tests have (which regulators encourage as that test is supposed to be representative). They didn't have the computer detect whether a specific run was a test, as VW did.

Re: VW slumps to first quarterly loss in at least 15 years

#43

Post by tajen »

The article mentions €6.7bn set aside, but their trimestrial loss is $3.48bn only. IANA-financial-analyst, but they're still profitable after scandal. Here are a few points of comparison:

- Revenue 2013: €197 billion (over 1 year)

- Profit 2013: €6.4 billion (over 1 year)

So the scandal cost them 1 year of profits, 3% of their revenue.

Re: VW slumps to first quarterly loss in at least 15 years

#44

Post by mladenkovacevic »

_yy wrote: post #24

General Motors - which knew about their broken ignition switches for over a decade - got away with a 900$m fine. That defect killed at least 124 people.

I also recall the problems with exploding Firestone tires on specifically Ford vehicles from the early 2000's that probably killed around 250 people and injured thousands. Firestone was fined $500,000 and I can't seem to find a record of Ford being fined anything except settling and losing as well as losing a couple of lawsuits as a result of it.

Re: VW slumps to first quarterly loss in at least 15 years

#45

Post by rlpb »

Igglyboo wrote: post #6
marvel_boy wrote: post #2

VW cars exceed legal emissions 40 times. There is a reason for no preventing to use this cars?

I don't think the government can say "you were lied to about your car, stop using it" also VW can't force people to get the recall, why would you want to get a recall that worsens the performance of you car.

It's reasonable for governments to tell owners that they must get a software update or stop using their cars after some reasonable grace period while also forcing VW to compensate owners for their losses in doing this (eg. reduced performance). Essentially protect the environment as intended while getting VW to foot the bill.

Re: VW slumps to first quarterly loss in at least 15 years

#46

Post by kuschku »

happyscrappy wrote: post #36
_yy wrote: post #24

General Motors - which knew about their broken ignition switches for over a decade - got away with a 900$m fine. That defect killed at least 124 people.

VW fraud likely killed almost one hundred Americans but far more Europeans. http://www.ibtimes.com/volkswagen-diesel-scandal-2015-emissi...

And probably saved equally many lives, by reducing CO2 per kilometer by almost 20%.

Re: VW slumps to first quarterly loss in at least 15 years

#47

Post by kuschku »

lm______ wrote: post #35
ams6110 wrote: post #32

Earlier quoted context omitted.

And they got bailed out by the US taxpayers. I am just astonished at the outrage over some skirting of an arbitrary number in an emissions standard, in contrast to the comparative yawn over the things other automakers have done that they knew would actually kill people.

Polluting the environment kills people too.

And CO2 kills also people. VW's cars had far lower CO2 emissions than competitors.

Re: VW slumps to first quarterly loss in at least 15 years

#48

Post by DanBC »

autobahn wrote: post #41
DanBC wrote: post #37

Earlier quoted context omitted.

Diesel emissions kill tens of thousands of people each year. It's probably hundreds of thousands across Europe. VW's scam has added to those deaths. VW killed far more than 150 people.

[Citation Needed]

Air pollution kills 60,000 people per year: http://www.independent.co.uk/news/uk/home-news/air-pollution...

NO2 kills about 2,600 people each year in London.

> The effects of the gas are particularly pronounced in London, where the Greater London Authority already recognises that it prematurely kills 2,600 Londoners each year;

http://www.telegraph.co.uk/motoring/car-manufacturers/volksw...

Across Europe this is easily tens of thousands of people and it's easily an order of magnitude over 150.

Re: VW slumps to first quarterly loss in at least 15 years

#49

Post by barkingcat »

ams6110 wrote: post #32
_yy wrote: post #24

General Motors - which knew about their broken ignition switches for over a decade - got away with a 900$m fine. That defect killed at least 124 people.

And they got bailed out by the US taxpayers. I am just astonished at the outrage over some skirting of an arbitrary number in an emissions standard, in contrast to the comparative yawn over the things other automakers have done that they knew would actually kill people.

Just because no number of people were killed at present doesn't mean it's not a serious offense.

Re: VW slumps to first quarterly loss in at least 15 years

#50

Post by kuschku »

autobahn wrote: post #40
mc32 wrote: post #25

I'm surprised that in the US their sales didn't take nosedive, I take that to indicate their customer base has a very enthusiastic and fundamental core... Which is good for them. If this does not shake their confidence, then nothing will, and if this is the case worldwide, VW will survive this scandal largely unscathed, relative to the size of this scandal. For a while it seemed like their viability was very much in…

VW is a giant company and they're sitting on a giant pile of cash. Anyone that thinks this was going to kill VW is not very bright. This will affect their status perhaps as the world's #1 automaker, but they'll be around for a long time.

And they’re partially owned by the government of the largest nation that doesn’t run a deficit™, so even if they’d be at risk of default, no politician is willing to fire 600'000 thousand people.
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