Volkswagen Admits To False CO2 Emission and Gas Mileage Statements On 800,000 Vehicles

Investors wiped another 3 billion euros ($3.3 billion) off Volkswagen Group's market value today after the automaker said it had understated the fuel consumption of some cars, opening a new front in a scandal that initially centered on rigging emissions tests.

VW said on Tuesday it had understated the fuel usage and CO2 emissions of up to 800,000 cars in Europe, meaning those vehicles affected are more costly to drive than their buyers had been led to believe.

It wasn't immediately clear if any cars in the U.S. would be involved in the latest revelations.

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TheSteve - 11/4/2015 11:46:54 AM

-5 Boost

Wow! VW seems to be a whole festering pile of "I Lied" :-(

When we see the ever-growing mountain of systemic deception, lies, and cheating, I can't help but wonder how VW will regain consumer confidence and remain viable.

BTW, I find it hard to believe that VW is the only company that's "less than honest" about the products they sell and how they do business. Still, that doesn't diminish the severity of what we've learned about them in the past few months.

TomM - 11/4/2015 12:14:56 PM

-3 Boost

I have said before - most manufacturers buy comparison cars from other manufacturers - to work from. I find it very hard to believe that other manufacturers did no know about some of these things - if not all of them.

TheSteve - 11/4/2015 12:30:12 PM

-5 Boost

TomM: When the dust settles, I won't be surprised if it turns out that non-compliance, violation, and deceit are widespread amongst vehicle manufacturers, and that voluntary compliance has proven not to work.

vdiv - 11/4/2015 1:28:32 PM

-1 Boost

It is really terrible. A lot of people who did do their job right will lose it as a consequence of this. This begs the question as it did with GM, other than more strictly regulating these companies what should the German and US governments do? They have a culpability in this scandal as well.

Vette71 - 11/5/2015 10:06:24 AM

+1 Boost

So Steve, VW lied. Other manufacturers legitimately pass the government test but in the real world those same products emit more than the government intended. But what if the government's intended standards push the laws of chemistry and physics to the point where it is not possible to economically meet them and still produce a vehicle that the public can afford? What then?

TheSteve - 11/5/2015 10:20:57 AM

0 Boost

vdiv wrote "...what if the government's intended standards push the laws of chemistry and physics to the point where it is not possible to economically meet them and still produce a vehicle that the public can afford? What then?..."

Face the truth?

TheSteve - 11/5/2015 1:50:42 PM

+1 Boost

Correction: The above quote was by Vette71, not vdiv

MDarringer - 11/4/2015 8:31:37 PM

0 Boost

Marchionne to the rescue, I say.

Vette71 - 11/5/2015 10:09:35 AM

+2 Boost

So marrying Chrysler and the Germans didn't work. Let's try marrying Chrysler, the Germans and the Italians and see how that flies. Talk about a disaster.