US states organizing to sue for a recall or buyback
Just when you think there are no government agencies not already involved in VW’s Dieselgate fiasco, that there cannot really be any regulators, lawmakers, bureaucrats without a finger in the pie, news breaks that there are.
- Wisconsin joins multistate investigation into VW scandal
- Harris County Atty Rebuffs AG’s Request To Back Off VW
Doom and Gloom Predicted for VW…
- Used VW Diesel Prices Continue to Decline
- Haslam raises hopes for new Volkswagen HQ, then backs off
- VW’s 12-brand behemoth under scrutiny as scandal costs mount
- Lawsuits Could Force VW To Buy Back Cheating Diesels
- VW suspends quality control chief
But Not From Us
Personally, we here at atw don’t believe this scandal will throw VW far off its current course, which is now the world’s #1 car manufacturer. People have short memories. There was Audi’s unintended acceleration fiasco in the 1980s, and recently some very high profile scandals at Toyota and GM, and these are forgotten. 100% gone today.
Only recently, General Motors was caught covering up a serious defect in its ignition switches that cost dozens of lives. It paid a piffling $900 million fine, no one went to jail, and barely anyone talks about it anymore. Not long before, Toyota was penalized for failing to share information with regulators regarding runaway cars. The government fined Toyota $1.2 billion, and various recalls, civil suits, and consumer settlements will add billions more to the Japanese behemoth’s tab. And yet general public sentiment is again a resounding Zzzz.
Don’t fall for the Dieselgate Armageddon crowd’s proclamations of doom. It will be complete in a year, whatever happens whether buybacks or recalls, the press will calm down, and VW sales will return.