Audi research chief Ulrich Hackenberg, Porsche research chief Wolfgang Hatz, and VW US chief executive Michael Horn are to be dismissed by the VW board tomorrow, ITV is reporting a senior source saying. VW has declined to comment. Michael Horn was the VW executive who said earlier this week that the company had "totally screwed up". German newspaper Bild earlier reported that Mr Hackenberg and Mr Hatz would be dismissed by the board. The turmoil at VW could be an even bigger danger to Germany than the chaos in Greece, Reuters reports. "All of a sudden, Volkswagen has become a bigger downside risk for the German economy than the Greek debt crisis," ING chief economist Carsten Brzeski told Reuters. "If Volkswagen's sales were to plunge in North America in the coming months, this would not only have an impact on the company, but on the German economy as a whole.” Analysts warned that Germany's dependency on the automobile sector could become a threat to an economy that's already seeing a slowdown in GDP growth. "Should automobile sales go down, this could also hit suppliers and with them the whole economy," industry expert Martin Gornig from the Berlin-based DIW think tank told Reuters. In 2014, roughly 775,000 people worked in the German automobile sector. This is nearly 2pc of the whole workforce. In addition, automobiles and car parts are Germany's most successful export - the sector sold goods worth more than €200bn to customers abroad in 2014, accounting for nearly a fifth of total German exports. "That's why this scandal is not a trifle. The German economy has been hit at its core," said Michael Huether, head of Germany's IW economic institute...There are questions over whether the testing authorities commissioned by motor manufacturers are truly independent. Do the results found in test conditions truly reflect real life situations on the road?"...Predictably, here's the start of how we're all getting f*cked over at some point. The answer is: no, the tests are designed to be a laboratory benchmark that allow comparative performance to be judged. They are not and were never intended to act as a reliable guide to what comes out of the tailpipe of an arbitrarily chosen car under any conditions. The manufacturers know this, and tellingly, so do the governments involved, because that is how the testing systems were originally specified. Certainly VW have done something extremely wrong here because they explicitly cheated the test, but other manufacturers, assuming they only designed to the test as opposed to cheating it, have done nothing wrong.
Access Investments-Building Awareness - European Union-ROMANIA
Sunday, September 27, 2015
Germany has in fact "extensive" experience with "gasing people" ...
Audi research chief Ulrich Hackenberg, Porsche research chief Wolfgang Hatz, and VW US chief executive Michael Horn are to be dismissed by the VW board tomorrow, ITV is reporting a senior source saying. VW has declined to comment. Michael Horn was the VW executive who said earlier this week that the company had "totally screwed up". German newspaper Bild earlier reported that Mr Hackenberg and Mr Hatz would be dismissed by the board. The turmoil at VW could be an even bigger danger to Germany than the chaos in Greece, Reuters reports. "All of a sudden, Volkswagen has become a bigger downside risk for the German economy than the Greek debt crisis," ING chief economist Carsten Brzeski told Reuters. "If Volkswagen's sales were to plunge in North America in the coming months, this would not only have an impact on the company, but on the German economy as a whole.” Analysts warned that Germany's dependency on the automobile sector could become a threat to an economy that's already seeing a slowdown in GDP growth. "Should automobile sales go down, this could also hit suppliers and with them the whole economy," industry expert Martin Gornig from the Berlin-based DIW think tank told Reuters. In 2014, roughly 775,000 people worked in the German automobile sector. This is nearly 2pc of the whole workforce. In addition, automobiles and car parts are Germany's most successful export - the sector sold goods worth more than €200bn to customers abroad in 2014, accounting for nearly a fifth of total German exports. "That's why this scandal is not a trifle. The German economy has been hit at its core," said Michael Huether, head of Germany's IW economic institute...There are questions over whether the testing authorities commissioned by motor manufacturers are truly independent. Do the results found in test conditions truly reflect real life situations on the road?"...Predictably, here's the start of how we're all getting f*cked over at some point. The answer is: no, the tests are designed to be a laboratory benchmark that allow comparative performance to be judged. They are not and were never intended to act as a reliable guide to what comes out of the tailpipe of an arbitrarily chosen car under any conditions. The manufacturers know this, and tellingly, so do the governments involved, because that is how the testing systems were originally specified. Certainly VW have done something extremely wrong here because they explicitly cheated the test, but other manufacturers, assuming they only designed to the test as opposed to cheating it, have done nothing wrong.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment