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VW is still dealing with the fallout from #dieselgate in the US

There is a fascinating story at #reuters which sheds light on how VW is dealing with the fallout from #dieselgate in the US.

The firm has spent over $7 billion buying back 350,000 cars affected by the cheating emissions tests. Some have already been scrapped, the rest are being stored in huge, makeshift facilities across America. This begs the question as to what VW will do with these vehicles; they can’t be sold in the US and there is no market in Europe where diesel sales are falling off a cliff and resale values are plummeting.

The Reuters report makes reference to possible export which suggests that VW might be eyeing the developing world as a dumping ground for these tainted vehicles.  

The cost of these buybacks, which will eventually involve almost half a million cars, and their storage, is in addition to the $4.3 billions VW paid in federal fines and damages. Cheating is an expensive hobby…

Read more here...

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