Bookmark Kaumudi Online  Bookmark this site  Editor@Kaumudi  |  Marketing  Print Advt rates  |  Calendar 2012        Go!    
 
 
April 25, Tuesday 2017 4:32 AM       

       HEADLINES: E P Jayarajan takes exception to Pannyan’s dig at Mohanlal                                              Day 2: Delhi cops grill Dhinakaran for 11 hours                                              Chhota Rajan, three others guilty in fake passport case                                              Situation in Kashmir will improve in 2-3 months: Mehbooba                                              AIADMK merger talks stalled as rival factions wrangle                                              Mexico will 'eventually' pay for border wall: Trump                                              N Korean media issue threat to 'wipe out' US                                              Tendulkar turns 44, wishes pour in from across the globe                                              Younis breaks 10,000-run barrier as Pak build reply                                              Kaumudi Facebook
       BUSINESS Next Article: 'Despite demonetisation, India to grow faster than China'  
       Volkswagen defies 'dieselgate' to boost sales in 2016
 
         Posted on :21:35:28 Jan 9, 2017
   
A A
       Last edited on:21:35:28 Jan 9, 2017
         Tags: Volkswagen defies 'dieselgate' to boost sal
 
FRANKFURT AM MAIN: Scandal-hit German carmaker Volkswagen said today it increased sales in 2016, despite strong headwinds after it admitted to cheating on regulatory emissions tests for millions of vehicles.
 
VW said it had delivered 5.99 million vehicles last year, up 2.8 percent over 2015.
While sales in the Americas and western Europe fell sharply, the German auto giant made inroads in Asia, especially China, it said in a statement.
 
Under pressure from US authorities, VW admitted in September 2015 to installing "defeat devices" -- designed to reduce cars' emissions of harmful nitrogen oxide when the software detected they were undergoing regulatory tests -- in 11 million vehicles worldwide.
 
The scandal, quickly dubbed 'dieselgate' by global media, tarnished VW's reputation and sapped sales.
 
In the latest damaging development, The New York Times today said FBI agents had arrested Oliver Schmidt, an executive who led VW's regulatory compliance office in 2014-15, on conspiracy charges.
 
With the scandal impacting the US market in particular, VW sales there fell 7.6 percent in 2016, while across South America the company shipped almost 27 percent fewer vehicles.
 
Western Europe recorded a more moderate fall of 2.0 percent, including a 7.2 percent decline in home market Germany.
 
The carmaker however increased sales in Asia by 11.8 percent, including a 14-percent boost in China, while central and eastern Europe reported a 6.9-percent increase.
 
Customers in 2016 had "remained loyal to us in challenging times," said Juergen Stackmann, head of VW brand sales.
 
Nonetheless, the scandal appears far from over for VW.
 
Citing anonymous souces, the NYT said Schmidt would be arraigned in a Detroit court on Monday.
 
It said lawsuits filed against VW by the states of New York and Massachusetts accused Schmidt of playing a key role in efforts to conceal the emissions cheating from US regulators.
 
Contacted by AFP, VW said it was continuing to cooperate with the US justice department over the scandal but refused to comment on the reported arrest.
 
"It would not be appropriate to comment on any ongoing investigation or to discuss personnel matters," a spokesman told AFP.
 
Last week, the paper said the firm was close to agreeing a USD 2.0-billion fine with the justice department over the scandal.
 
VW has already agreed to settle US civil claims for a total of USD 15.7 billion.
A A
       BUSINESS
Next Article: 'Despite demonetisation, India to grow faster than China'
 
 
BUSINESS HEADLINES
Sensex rebounds 291 pts; French Prez race, RIL Q4 in limelight  
Thailand expects 12 lakh tourists from India in 2017  
GST great illustration of cooperative federalism: Modi  
Niti Aayog lists promoting digi-payments as achievement  
Hero Cycles eyes setting up Rs 400 cr project  
Impact of demonetisation abated: IMF  
Mistry appeals against NCLT rejecting waiver plea in Tata case  
Air India lowers age limit for elderly travel concession  
SEBI court quashes non-bailable warrant against Sahara chief  
India needs to accelerate investment in children, education:WB  
Sensex extends gains, up 86 pts on bargain hunting  
Jaitley may take up H-1B visa issue with US authorities  
'India moving forward to become major destination for FDI'  
Sensex surrenders early gains, falls 95 pts  
Apple, Coke, Airtel among cos pulled up for 143 misleading ads  
Inflation cools to 5.7%, food prices heat up  
Nifty regains 9,200-level in early trade  
SC orders auction of Sahara's Amby Valley  
Railways to export locos, train sets worth Rs. 680 cr to Lanka  
Sensex edges lower by 88 pts on global weakness  
Netizens uninstall Snapdeal app instead of Snapchat  
Petrol price hiked by Rs 1.39 per litre, diesel up by Rs 1.04  
CBEC sanctions Rs 1 cr to each zone for GST outreach  
Markets feel Infosys heat, Sensex dives 182 pts  
Infosys plans Rs 13,000 cr pay-out via buyback, dividend  
 
Do you think Chief Minister Pinarayi Vijayan triggered holy cross row?
yes
 
no
 
don't know
 
 
 
Home Kerala India World Business Sports Sci&Tech Education Automobile CityNews Movies Environment Letters 
© Copyright keralakaumudi Online 2011  |  Reproduction in whole or in part without written permission is prohibited.
Head Office Address: Kaumudi Buildings, Pettah P.O, Trivandrum - 695024, India.
Online queries talk to Deepu Sasidharan, + 91 98472 38959 or Email deepu[at]kaumudi.com
Customer Service -Advertisement Disclaimer Statement   |  Copyright Policy