Just When You Think It Can't Get Any Worse- German Authorities Raid Volkswagen Headquarters

The VW car giant's HQ in Germany was raided on Thursday in a move that drastically raises the stakes in the ongoing emissions scandal.

Officials swarming into the vast Wolfsburg plant is being interpreted as a sign that the company has been less than cooperative with authorities over the fraud which may end up breaking it.

As well as Wolfsburg German media reported that other VW sites were raided in the afternoon. The searches were confirmed by the public prosecutor's office in Braunschweig.

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Yonder7 - 10/8/2015 1:55:23 PM

+1 Boost

Right...If that were in USA, how would it be?...

Car4life1 - 10/8/2015 8:31:01 PM

+4 Boost

Well...Volkswagen's subsidiaries better start getting their powerpoint presentations ready for new owners, Im talking to you Bentley, Audi, Porsche, Lamborghini, etc...

PUGPROUD - 10/8/2015 4:52:55 PM

+2 Boost

Drip...drip...drip. The bad news will just keep coming and coming for months maybe even years. Worked for a company once that had a product liability problem based on bad science...every few months more bad news came out and the estimation of total cost which started out at $150 million rose every few months. Two years later the company was cleared of any wrong doing but it spent $2 billion to clear its name. With VW admitting wrong doing I estimate it will cost them $30-$40 billion not counting lost sales and drop in stock market value. Every government and every product liability lawyer in every state and every country where a VW diesel was sold in the last seven years is preparing a case. Drip...drip...drip.

TomM - 10/8/2015 7:09:58 PM

+1 Boost

AS I originally said - and was initially laughed at - eventually I believe that VW will have to go through some type of Bankruptcy reorganization in order to limit its losses in this case. I do not know what is possible in Germany - but I don't see an alternative to unending legal problems

Socalcarnut - 10/8/2015 7:13:45 PM

+4 Boost

Unfortunately I suspect this is all for show. The German authorities have to give the impression that they are out to get VW...and as much as Germany is embarrassed and officials want this cleaned up, nobody is going to rock VW's boat in Germany because they are a major driver of the economy. A collapse of VW would be catastrophic for the German economy.

MDarringer - 10/8/2015 7:45:27 PM

0 Boost

VW could go bankrupt and the German government could pay Marchionne to be the savior like he was with Chrysler.

Socalcarnut - 10/8/2015 7:51:14 PM

+1 Boost

He is no savior. The plug has been pulled on that whole deal and FCA is about to implode. No union contract, Maserati cutbacks in production...just wait.

MDarringer - 10/9/2015 8:25:52 AM

+4 Boost

You clearly lack the wit to get sarcasm.

jameswisrik - 10/8/2015 8:53:14 PM

0 Boost

MacroniandCheese is trying to have a POS GM bail him out.