Educational Software News: Volkswagen, the German Government: engine modifications for 540 thousand diesel

Monday, November 9, 2015

Volkswagen, the German Government: engine modifications for 540 thousand diesel – Il Sole 24 Ore

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This article was published November 9, 2015 at 16:03.
The last change is the 9 November 2015 at 17:56.

540 thousand Volkswagen diesel cars would be needed technical changes that go beyond the replacement of the software used to violate anti-smog laws. The announcement the German Ministry of Transport, which however still does not go into detail of what intenderebbe to “technical changes”. Further information will be communicated to customers by the same Volkswagen.

Following the statements of the Ministry appears so clear that it will not be enough to simply realize a software update for the control of emissions and engine to eliminate the problem of the manipulation of the exhaust gases. The calls of the Volkswagen models ordered by the German Motor Kba should begin in early 2016.

Meanwhile, the German federation of consumer groups, asked Volkswagen to compensate customers German victims of the scandal of diesel engines rigged voucher, as the group will also in the United States. Volkswagen “must assume its responsibility ‘,” said the president of the Federation, Klaus Muller in an interview with the Rheinische Post newspaper. “The vouchers in Germany are the minimum to compensate customers harmed.” In the evening Volkswagen has announced that it will offer vouchers and good buys for $ 1,000 and free roadside assistance to owners of diesel cars involved in the scandal-emissions in the US.

Fitch downgrades rating to BBB +
Finally, Fitch has downgraded the rating of long-term debt of the Volkswagen group to BBB + from A, with a negative outlook. This was communicated by the agency, which has also cut the rating of short-term debt Idr of the Wolfsburg to F2 from F1. The decision, says Fitch, “reflected the issues at the level of corporate governance, internal controls and management highlighted by the current crisis relating to emissions testing involving up to 11 million diesel cars.” Fitch adds, “have already included the relatively weak corporate governance in the ratings assigned to the group, but we believe that the occurrence of a fraud of this magnitude, which was not identified or corrected by the top for so long, is not in line with a rating of category A “. According to the agency, “the recent admissions of Vw we underestimated the CO2 emissions of 800 thousand vehicles reinforce this view and highlight the core issues of a failure of internal controls within the group.”