The “Dieselgate” will be very expensive to Volkswagen – Challenges.fr

Since the outbreak of the “Dieselgate” Volkswagen last September, the automotive industry is in the spotlight. So far, indeed, the German group was convicted of serious fraud, the United States, with its software rigging the anti-pollution tests. But other manufacturers have been implicated. Japan’s Mitsubishi is incriminated, Daimler and Renault in the spotlight beckoned. A case that will in any case be very expensive to Volkswagen. Wolfsburg consortium announced Friday that … provisioned 16.2 billion euros last year to deal with the exorbitant costs of the scandal. So, last year, Volkswagen has turned into the red. He posted an annual operating loss of 4.1 billion euros and a net loss of 1.6 billion, its first deficit since 1993!

expected drop in revenue

excluding exceptional charges, fiscal 2015 would have resulted in an operating profit of 12.8 billion euros. Volkswagen will propose a dividend of 0.17 euro per preference share in respect of 2015, against 4.86 euros a year earlier. And, after a 5% increase in turnover last year to 213 billion euros, the German giant expects a downturn in the latter up to 5% this year, especially because of the scandal. The contractor needs to April 28, with a half months of delay, its annual conference of the balance sheet. This will be the first to Matthias Müller, chairman of the group since late September 2015, the Supervisory Board decided to freeze 30% of the bonus – and those of the Executive Board – which will be paid in three years subject to performance. His predecessor Martin Winterkorn had to resign in extremis, a few days after the scandal of the tricks of anti-pollution tests broke.

After seven months of scandal, Volkswagen has succeeded in any case Thursday ” agreement in principle “to avoid trial in the United States. The California judge Charles Breyer assured that the agreement should include a buyback proposal for nearly 500,000 vehicles equipped with a diesel engine “rigged” two liters. It establishes also a fund to finance environmental protection measures. The German newspaper Die Welt raises the possibility of an eventual payment by Volkswagen of a $ 5,000 compensation (4,400 euros) to each owner of offending some 600,000 cars. Obviously, the group also undertakes to return the vehicle to the standards. Eleven million cars are total equipped in the world famous trickster software.

A survey on pollutant emissions of diesel models in Germany has also uncovered irregularities sixteen brands, said on Friday Transport Minister. German concerned are Audi (Volkswagen Group), Porsche, Opel (GM), Mercedes (Daimler) and brand Volkswagen, which will have to recall 630,000 cars in Europe. Renault and Nissan ally are also concerned. And even if there is not fraud itself.

Internal Inquiry Daimler

In addition, Daimler had to announce Thursday it had opened an internal investigation at the request of US authorities. The manufacturer of the prestigious Mercedes-Benz, “conducting an investigation on its certification process on emissions of exhaust gases in the United States, at the request of the US Department of Justice,” stated the group in Stuttgart communicated. He assured to cooperate “fully” with US authorities – one is never too careful! – And will take “all necessary measures” if it finds “indications of possible irregularities”. The US Environmental Agency (EPA) had already indicated in February have opened a preliminary investigation on emissions of certain vehicles of Mercedes brand.

The Japanese Mitsubishi Motors admitted Wednesday that for its part falsified consumer tests. Fraud affects at least 625,000 vehicles sold in Japan. Four mini-vehicles (cars of less than 660 cm3 of tax-advantaged capacity) are involved. This crisis also affects 468,000 minicars produced by MMC for Nissan under the crossed agreements. Japanese Transport Minister Keiichi Ishii, said Friday he wanted the manufacturer demonstrates its “integrity”, including the consideration to redeem the offending vehicles. These models are only sold in the archipelago. But other vehicles should also be involved. A representative of the US traffic safety authority has also told Reuters that it had requested information on Mitsubishi Motors vehicles sold in the United States. The manufacturer has suddenly lost 40% of its market capitalization.

In France too, irregularities

In France, where an independent commission was set up following the Volkswagen scandal, Renault was also pinned a few months ago by his excessive judged overtaking polluting emissions compared to certification standards. There is certainly no fraud there either, since EU law does not provide for post hoc tests such as the United States. It prevents. Renault had to agree to rework the emissions of its vehicles. He announced in early April and “a set of actions to reduce nitrogen oxide (NOx) emissions of its diesel EURO 6b customer use vehicles.” These actions will be implemented in the factory in July and will be eligible vehicle owners already in circulation from October.

Finally, PSA said Thursday a raid by the DGCCRF (Directorate competition, consumer Affairs and fraud Control), which is investigating “anomalies” of emissions of three vehicles tested by the “Royal commission”. PSA immediately said in a statement that it “confirms the compliance of its vehicles in pollutant emissions in all countries where it operates. Confident in its technology, PSA cooperates fully with the competent authorities.” All company spokesmen were missing Friday to answer questions.