The German automaker is going through the largest scandal in its 78-year history after admitting last week it has duped US regulators when it comes to diesel-powered vehicle emissions testing.
In the process the long-running chief executive officer martin Winterkorn presented his resignation although he has claimed innocence in the cheating process. VW AG, which earlier this year lost its long-running chairman/patriarch Ferdinand Piech (coincidentally or not) in a clash with Winterkorn over power, has now appointed company veteran Matthias Mueller as its chief executive on Friday. The 62-year-old head of its Porsche sports car unit has been tasked following a marathon board meeting at its headquarters in Wolfsburg by the world’s largest (interim) automaker by sales to navigate what the interim chairman called “a moral and political disaster.” And the foundation is set for the automaker to sink even further into the abyss brought by its own cheating and lies. The company admitted previously it had installed software to cheat on tests on 11 million autos around the world but most of them didn’t have the code activated.
However, Germany’s transport minister announced the company has duped the test results for around 2.8 million vehicles in the home country alone – almost six times the figure it acknowledged to have rigged in the US. And now the new CEO has to face regulators and prosecutors around the world probing the company’s vehicles to see if the cheating was done on a larger scale than anticipated. Also, investors and consumers are not at a standstill, launching billion dollars lawsuits for breach of trust and economic losses.