Volkswagen shares plunge on emissions scandal, U.S. widens probe.

[lockedout]

* VW shares fall nearly 20 pct for 14 bln euro market cap drop

* U.S. EPA says to widen probe to other carmakers

* U.S. Justice Department starts criminal probe -Bloomberg

* VW initially denied trying to game inspections

* Germany also to investigate carmakers' emissions data (Adds White House 'quite concerned', VW CEO pledge on German testing, Bloomberg report on DOJ probe.)


BERLIN/WASHINGTON, Sept 21 (Reuters) - Volkswagen shares plunged by nearly 20 percent on Monday after the German carmaker admitted it had rigged emissions tests of diesel-powered vehicles in the United States, and U.S. authorities said they would widen their probe to other automakers.

German officials, alarmed at the potential damage the scandal could inflict on its car industry, urged Volkswagen to fully clear up the matter and said it would investigate whether emissions data had also been falsified in Europe.

The U.S. Environmental Protection Agency (EPA) said on Friday the world's biggest carmaker by sales used software for diesel VW and Audi branded cars that deceived regulators measuring toxic emissions and could face penalties of up to $18 billion.
Volkswagen installed its “defeat device” in the listed affected models:
Jetta (Model Years 2009–2015)
Beetle (Model Years 2009–2015)
Audi A3 (Model Years 2009–2015)
Golf (Model Years 2009–2015)
Passat (Model Years 2014–2015)
Affected models being the diesel versions, not gasoline.

http://www.reuters.com/article/2015/...11R0TU20150921

[Hooked]

Ford (rollovers) and chevy (ignitions) cause deaths they get a small fine, vw outsmarts a silly emissions rule they get the largest fine in history.

[taliey]

Ford and chevy cause deaths they get a small fine, vw outsmarts a silly emissions rule they get the largest fine in history.

Somehow, GM is not even mentioned.

Also, are you advocating for harsher punishments (like steeper fines?) when people die, cause that seems contrary to the posts you usually make.

[Hooked]

I have 2 chevelles that don't even need emissions testing or seatbelts because they are over 25 yrs old and it wasn't standard back then.

[Paranoid Android]

This is horrible for my Formula 1, Red Bull Team. Volkswagen was going to purchase R.B. and become the constructors. With R.B struggles with Renault, I was looking for some hope.

[Deleted]

What VW did was pretty scummy. Most people were surprised that this could even happen.

[Saladbar]

Ford (rollovers) and chevy (ignitions) cause deaths they get a small fine, vw outsmarts a silly emissions rule they get the largest fine in history.

No need to get all worked up, they haven't been fined anything yet. There is no way it will be anywhere close to the possible 18 B.

[Annoying]

I have 2 chevelles that don't even need emissions testing or seatbelts because they are over 25 yrs old and it wasn't standard back then.

I've heard nightmare stories about emissions in places, but I've never had to do them on any car I've owned. Apparently my state doesn't care about emissions.

[Garnier Fructis]

Ford (rollovers) and chevy (ignitions) cause deaths they get a small fine, vw outsmarts a silly emissions rule they get the largest fine in history.

The correct solution would be to punish them more for those, not less for this.

[lockedout]

The correct solution would be to punish them more for those, not less for this.

The cost would be passed onto the consumer, cars would be unaffordable.

[Kujako]

The cost would be passed onto the consumer, cars would be unaffordable.

Do you know that there are other car makers? If they increase the price of their cars, no one will buy their brand. Free market, yada yada.

[lockedout]

Do you know that there are other car makers? If they increase the price of their cars, no one will buy their brand. Free market, yada yada.

I was referring to other car makers that have problems as well not just VW. It would set a precedent.

[Kujako]

I was referring to other car makers that have problems as well not just VW. It would set a precedent.

Yes... the precedent being that cars that follow regulations and don't kill people cost less? Not sure that's a bad thing.

[lockedout]

Yes... the precedent being that cars that follow regulations and don't kill people cost less? Not sure that's a bad thing.

Never said it was. I was referring to when they do.

[Kujako]

Never said it was. I was referring to when they do.

Fair enough. I think in general all externalized expenses should be reflected in the consumer cost. Again, free market yada yada.

[Garnier Fructis]

The cost would be passed onto the consumer, cars would be unaffordable.

Paying more or switching brands is preferable to buying defective cars in my opinion.

[lockedout]

Paying more or switching brands is preferable to buying defective cars in my opinion.

Of course but your missing the point, at some point almost all car manufacturers have had some type of fuck up whether its a gas pedal that sticks or a faulty ignition, roll over etc. Volkswagen will never have to pay 18 billion is the main point.

[Kellhound]

I've heard nightmare stories about emissions in places, but I've never had to do them on any car I've owned. Apparently my state doesn't care about emissions.

Last two states I've lived in it depended on year and location, only the metro counties have smog checks.

[Garnier Fructis]

Of course but your missing the point, at some point almost all car manufacturers have had some type of fuck up whether its a gas pedal that sticks or a faulty ignition, roll over etc. Volkswagen will never have to pay 18 billion is the main point.

Well yeah, 18 billion is excessive in any case. But the penalty should never be just a slap on the wrist. Even considering that all manufacturers will fuck up eventually.

[phitness]

Dont worry I'm sure they have some lobbyist that will slide a few mil into an offshore account of whatever politician will be handling the probe to avoid all of these fines and probly even end up with tax breaks out of the whole deal.