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Toyota is No1, Volkswagen sinking deeper and deeper

POST Online Media ▼ | October 26, 2015
Toyota Motor Corp edged out Volkswagen for the third straight month to be the world's top-selling automaker so far this year.
Volkswagen Diesel
Auto industry   German Dieselgate company is facing hard times
Toyota said it sold 7.49 million cars worldwide in the year to September, more than Volkswagen's 7.43 million during the same period. Toyota has been continuously out selling Volkswagen on a year-to-date basis since July.

In the meantime, The Wall Street Journal reports that Volkswagen has suspended a larger number of engineers than previously acknowledged, following a recommendation from the law firm conducting an internal investigation into the auto maker’s emissions cheating scandal, according to a person familiar with the matter.

To make the situation evern worse, in February 2013, the then European Union's environmental commissioner, Janez Potocnik, wrote to Antonio Tajani, then industry commissioner, warning that several EU countries believed a "significant discrepancy" between emissions from cars and emissions during testing was the "primary reason" that air quality was not improving, according to The Financial Times.

On top of this, Credit Suisse sent a note to investors with its estimate of costs, the best-case scenario being a 23 billion euros to hit to the company, and the worst case would be 78-billion-euros ($87 billion) in voerall costs.


 

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