Emissions scandal a threat to VW’s viability: paper

Sunday 04th, October 2015 / 12:39 Written by
Emissions scandal a threat to VW’s viability: paper

Hans Dieter Poetsch, the incoming chairman of Volkswagen (VW), sees the scandal around the rigging of emissions tests as a threat to the firm’s viability albeit a surmountable one, a newspaper quoted him as saying. At an internal company meeting this week at the VW headquarters in Wolfsburg, Poetsch described the situation as an “existence-threatening crisis for the company”, Germany’s Welt am Sonntag reported in a release ahead of Sunday’s publication.

Poetsch also said that he believed VW could overcome the crisis, the newspaper said. A VW spokesman declined to comment on the report.

Europe’s largest carmaker has admitted cheating in diesel emissions tests in the United States and Germany’s transport minister says it also manipulated them in Europe, where VW sells about 40 percent of its vehicles. Reuters

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