The number of recalls has broken the record set in history! Volkswagen forced to recall 11 million vehicles over fraud; stock price drops 35% in two days
Thread Content
Early on September 23rd, Beijing time, foreign media reported that sources within the automotive industry said Volkswagen is expected to recall around 11 million vehicles worldwide due to the emissions fraud scandal. Volkswagen previously disclosed that it had installed software in the vehicles it produced to distort the results of diesel emission tests in the United States, which led to it being embroiled in an emissions fraud scandal. In Tuesday’s market trading, Volkswagen’s shares closed down by 19.82%, suffering another sharp decline on consecutive days, as the company admitted to installing emission cheat devices in 11 million diesel vehicles. The stock closed at 106 euros (around $118) on Tuesday, with a cumulative drop of 35% over the two days, meaning its market value shrank by 25 billion euros (about $27.8 billion, or 177.3 billion yuan) in just two days.
They’re even recalling them? Uh, I don’t know what to say – weren’t they always so great?
Openly falsifying things, really. . . . . . . . . .
Foreigners have too strong a pricing power; they don’t make a big show of it
Those from abroad that aren’t recalled in China are pointless
It’s truly a sad story. .
It seems that fraud has become a global issue.
It seems that fraud is not just a problem specific to Chinese products!
That’s the United States; who would dare to act tough against it? The Toyota boss also cried.
It’s better to apply for bankruptcy protection directly.
Still the size of a fist, speaking in a firm tone. I remember watching a video report about a Volkswagen vehicle that was leaking lubricant; the company refused to admit it, and when they finally did, they offered money to keep it quiet. . .