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Volkswagen’s Errors of Emission Lead to an ObNOxious Destruction of Value

Posted by Ory Zik and Mark Bunger on Dec 1, 2015 3:36:05 PM

Volkswagen’s troubles caused by the diesel emissions cheating scandal continue to worsen. It led to an unprecedented destruction of value of about $60 billion in one week. Most recently, additional Audi and even Porsche models were found to contain software designed specifically to sabotage pollution checks, and as of this writing, some 800,000 Volkswagen vehicles may have misreported CO2 levels in gasoline vehicles as well. The widespread deployment of the diagnostics-defeating software in so many of the company’s vehicles – about 500,000 in the US, and more than 11 million worldwide – implies more than the work of a few rogue engineers, which VW executives have ridiculously pleaded. Skeptics charge that the cover-up may extend not only throughout the company but even to other carmakers, regulators, and other bodies. And even the fix that VW recently proposed – a modified air intake tube meant to improve a sensor’s accuracy, and a software fix that will correct emissions at the expense of driving performance – was met with howling criticism even in automotive industry and German media.

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Topics: Porsche, Alternative Fuels, Volkswagen, Emissions