Volkswagen has appointed a new Chief Executive, Porsche boss Matthias Müller. Olaf Lies, a Volkswagen board member and economy minister of Lower Saxony says VW staff acted criminally over emission cheat tests. Today 1.2m vehicles are reported to be affected across Audi, Seat, Skoda and VW commercial brands. The crisis motors on. One can’t help but feel Volkswagen executives sitting in the boardroom plaintively saying: “Are we nearly there yet?”
VW’s share price reached a 5-year peak in April 2015 of €253.2 and hit a low of €95.19 on Tuesday (down 62% in six months). So far…
How we have reported on the developing story. In happier, sunnier times…
– Ecotricity and Volkswagen unite to offer 100% renewable travel
– Blue & Green’s top 10 electric cars: #5 Volkswagen E-Up!
– Volkswagen faces penalties for diesel emissions scandal
– Vigeo downgrades Volkswagen’s rating
– Volkswagen’s Scandal: Should this be a surprise?
– Dieselgate: other car manufacturers ‘on the same line’ as Volkswagen
– Dr Konstantinos Chalvatzis: EU’s ‘engine’ stalls in Volkswagen scandal
– Sustainable leadership means engaging honestly with your stakeholders: VW failed the test
– Friends of the Earth and Greenpeace demand answers from Transport Secretary on VW scandal
– Volkswagen didn’t keep it real
– Has Volkswagen caused a pile-up in the auto industry?
Timeline of a corporate governance scandal, regulatory failure and public relations disaster:
– 2007: Suspect software first installed for the purposes of ‘internal testing’ only. Bosch allegedly warns VW not to use software illegally.
– 2008 : VW announces new ‘Clean Diesel’ cars
– 2009-2015: Clean Diesels win several environmental awards, receive tax breaks
– 2011: Alarms raised that software may infringe legislation by VW employee
– 2012-2014: evidence mounts of issue
– 2014: Researchers in US, commisioned by International Council on Clean Transportation, test vehicles – findings of 40x emissions
– May 2015: New tests by US authorities
– July 2015: Environmentalist questions by Green Party
– September 3: VW confession to US authorities
– September 18: Authorities go public with findings
– September 20: CEO Winterkorn issues statement saying he is ‘sorry’
– September 21: Stock sinks by 17%
– September 22: 11-million vehicles world-wide affected – stock sinks a further 20%
– September 23: CEO Winterkorn resigns
– September 24: EU urges probes across all 28 states
– September 25: New chief executive, US ban of VW diesels until 2016
– September 28: Criminal probe by German prosecutors
– September 29: VW removed from the Dow Jones Sustainability Indices
– September 29: On Newsnight Volkswagen board member says staff acted criminally. Volkswagen announces plans to refit 11m cars
– September 30: Audi, Seat, Skoda, VW commercial vehicles also affected (1.2m in the UK)
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