Arbeiterklasse - Made in Germany - Made in Germany
Made in Germany is in the gutter after Volkswagen caught cheating.
The scandal is inherently worse than the explosion of the drilling rig Deepwater Horizon BP in the Gulf of Mexico in 2010. While BP and its contractors may have been negligent, VW seems to have engaged in a cynical plan to deceive regulators in violation of most of the US Clean Air Act.
It is deeply serious charge is that VW deliberately mislead regulators with a cleverly hidden piece of software, said Max Warburton AllianceBernstein.
It is a character quite different from previous violations of US law by Hyundai and Ford, who proceeded especially errors The US Department of Justice weighs serious criminal charges.
Made in Germany in the gutter, told the German newspaper Bundesdeutsche Zeitung.
The financial daily Handelsblatt called the disappointment of a disaster for the whole of German industry, warning that he had completely undermined the joint campaign by Audi, BMW, Mercedes, VW and Bosch to convince Americans that diesel n ' is dirty and is the best way to meet more stringent US emissions.
Germany is the world leader in clean diesel His automakers have relied heavily on technology, hoping to gain the strategic prices in the United States that new rules come into force imposing fuel economy of 54 miles 5 per gallon in 2025.
We fear that the fair reputation of the German automotive industry in particular that Volkswagen will suffer, said Sigmar Gabriel, Vice-Chancellor and Minister of the economy.
Own vow of Volkswagen to become the greenest automaker in the world by 2018 was exposed a hollow publicity stunt.
In theory, the company could face fines of 18 billion in the United States, on the basis of a penalty level of 37,500 for each of the 482,000 cars equipped with defeat devices, allowing them to hide emissions exhaust of nitrogen oxides NOx in the pollution control tests.
The actual release of these toxic particles blamed for emphysema and respiratory diseases is actually 40 times above acceptable levels set by the Environmental Protection Agency of the United States The cars will be recalled and modified, which greatly reduces their fuel consumption.
The American press already called Lance Armstrong VW car market, an allusion to the drug likely cheating in sport, and a deadly epithet in an industry where branding and goodwill are the lifeblood of sales.
Sorry Martin Winterkorn Volkswagen CEO.
The price of the VW share crashed 19pc in Frankfurt strategic ambition of the company to dominate sales of clean diesel in the United States is in ruins.
There is no way to put an optimistic spin on this case for the best VW is probably still a fine of billions of dollars the pariah status in the United States, and damage to its leading position in diesel Mr Warburton said.
The suspicion is that other automakers with diesel models can also cut corners as much as the Libor scandal in the city of London has revealed common practices in other parts of the banking sector The US authorities said they broaden the probe to other manufacturers.
Martin Winterkorn, CEO of VW, said he was sorry and ordered an internal investigation, but it is difficult to see how it can survive.
Ferdinand Dudenhoeffer of the Center for Automotive Research in Germany, M. Winterkorn said is either complicit or has failed to establish control over the company anyway, it is no longer viable No politician could stay his position in such circumstances is an unimaginable disaster, he said.
It is barely ten years since it appeared that VW still 20pc owned by the state of Lower Saxony - had set up businesses in India before and the Czech Republic to obtain contracts.
Volkswagen has struck a chord on the German left with funds from slush to undermine the union members of the works council with extravagant trips abroad and brothel visits, at a time when the company grew by freezing wages This scandal led to a purge of senior management and a prison sentence for a member of the board.
Transparency International in Berlin said VW scores a middling grade 5 5 out of 10 for the purity of the business, but refuse to provide a breakdown of its activities in each country where it operates This can be a VW warning indicator provides zero information on a per country basis -Country We find it very important, he said.
Volkswagen is not the only German group lurched from scandal to scandal The president of engineering giant Siemens was forced to resign in 2007 following exposure of corruption at the epic scale, although the company has since sought to clean the Augean stables.
A responsible Siemens revealed that he ran a 40m bribery budget per year through a network of secret accounts of Venezuela, Israel, Italy and Vietnam He described pay-offs abroad as business model of the company.
VW called the Lance Armstrong auto market could prove fatal for the brand in the United States.
Bribes were tax deductible in Germany until 1997, reflecting the general attitude that everything was in foreign markets was fair game since the country has relatively good standards and tight scores in global tables league corruption.
The problem for Germany is that its niche in the global market for expensive cars and machinery, charge a premium for what is supposed to be the most reliable technology in the world.
The other problem for Germany is that Berlin was the lesson to the rest of the euro area for five years that the root cause of the crisis the continent is the failure of some countries of the monetary union to respect the law Southern Europeans might feel entitled to a moment of Schadenfreude.
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