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Posts Tagged ‘diesel news’

Despite Retreat by Some Makers, Diesel Not Dead Yet

BMW cleared to sell diesels in U.S. after meeting new, tougher standard.

by on Sep.07, 2016

BMW delayed the launch of its various diesel models in the U.S. due to added testing, which they have passed.

For years, Volkswagen set the stage for the comeback for the diesel engine for the U.S. market and its continued growth worldwide. Now it appears to be the leader in killing it.

The German automaker’s recent scandal has not only cast doubt in the minds of potential buyers of diesels, it has other automakers reconsidering their diesel-center plans. Renault executives recently stated that they expect diesel engines to disappear … in Europe.

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The announcement came after the French automaker examined the costs of meeting tougher emissions standards after the VW scandal. According to Reuters, the determination was revealed during an internal meeting earlier this summer. (more…)

Federal Regulators Find Problems with More VW Diesels

EPA finds unapproved software on 3.0-liter diesels.

by on Aug.09, 2016

The EPA found unapproved software on Volkswagen's 3.0-liter diesel engines, according to reports.

Press reports in Germany indicated the U.S. Environmental Protection Agency found three unapproved software programs in 3.0-liter diesel engines made for Volkswagen by Audi.

German weekly Bild am Sonntag reported the software allowed the turbocharged direct injection, or TDI, engines used in Audi’s Q7, Porsche’s Cayenne and VW’s Touareg models to shut down emissions control systems after about 22 minutes.

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Volkswagen has admitted it cheated on U.S. diesel emissions tests for years and said in June it would spend as much as $15.3 billion buying back vehicles from consumers. However, the settlement did not cover roughly 85,000 larger 3.0 liter Audi, Porsche and VW vehicles that emitted less pollution than 2.0-liter vehicles, but were also fitted with illegal emissions-control equipment. (more…)

EPA Passes BMW Diesels Using New Tougher Testing

U.S. officials placing diesels under more scrutiny.

by on Aug.05, 2016

BMW delayed the launch of its various diesel models in the U.S. due to added testing, which they have passed.

Call it “Invasion of the Diesels: The Sequel.”

German automaker BMW AG received approval from the Environmental Protection Agency to sell diesel vehicles in the U.S. The maker’s engines were subject to a substantive review after it came to light that Volkswagen AG had been cheating on emissions testing with its diesels for more than a decade.

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While VW recently reached a settlement costing them $14.7 billion to right its wrong, federal officials moved to ensure there would not be a repeat performance by other makers. Testing was rigorous enough to cause delay in BMW’s certification due to logistical issues. (more…)

VW Q2 Earnings Hammered by Emissions Scandal

Subterfuge slams sales, as well as reputation; more hits to come.

by on Jul.28, 2016

Volkswagen AG saw its Q2 profits drop 86% compared with year-ago results.

After reporting a rosy picture for the first half of 2016, a different reality has set in for Volkswagen AG, the embattled automaker reported today that second-quarter profits fell by more than half year-over-year, largely the result of its ongoing emissions cheating scandal.

The news came just days after a federal judge in California approved a $14.7 billion settlement to resolve the rigging of 475,000 vehicles with 2.0-liter turbodiesels to illegally pass U.S. emissions tests. That expense was largely covered by money set aside against 2015 earnings. But VW still has to settle a number of other lawsuits and solve problems involving its higher-end 3.0-liter diesel.

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After taxes, VW said it earned $1.2 billion euros, or $1.32 billion between April and June, down from 2.7 billion euros the year before. On an operating basis, the figure many analysts prefer to focus on, the impact was less severe, though down 12%, nonetheless, at 808 million euros, or $895.5 million, compared with 914 million euros during the period a year ago. (more…)

VW Brand Boss Diess Not Quitting Despite Criminal Investigation

Maker won’t match $15 bil U.S. diesel settlement in Europe.

by on Jul.05, 2016

VW boss Herbert Diess has no plans to resign despite being the target of a criminal investigation in Germany.

Despite being the focus of an ongoing German criminal investigation, Volkswagen brand boss Herbert Diess has no intention of resigning.

The one-time BMW executive is one of at least two current and former senior executives who have been targeted by prosecutors in connection with VW’s diesel emissions scandal. The German authorities previously identified former Volkswagen AG CEO Martin Winterkorn. Both are under investigation for possibly hiding information about the diesel scandal from VW shareholders.

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Separately, the German automaker’s current CEO, Matthias Mueller, said there are no plans to offer compensation to diesel owners in Europe, despite last week’s announcement of a nearly $15 billion deal related to VW’s cheating on emissions standards with 475,000 2.0-liter diesel models sold in the U.S. (more…)

Mazda Remains Committed to Bringing Diesel to US

Maker undaunted VW problems and falling diesel sales.

by on May.31, 2016

Mazda scrapped plans to bring a diesel-powered Mazda6 to U.S. shores a few months before VW's diesel scandal broke.

While the timetable has not been established and remains in flux, Mazda remains committed to putting a diesel-powered vehicle on the road in the U.S.

Mazda last year quietly delayed plans for a diesel-powered version of the Mazda6 months before Volkswagen was forced to disclose that it had cheated on key emission tests for vehicles sold in the United States equipped with diesel engines. The fallout from cheating scandal has been casting a cloud over diesel engines in light-duty vehicles.

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However, Jeremy Barnes, Mazda director of communications, told that Mazda remains committed to introducing a diesel-powered vehicle to the U.S. market. The diesel remains under development, but the timing of the introduction has not been set yet, he said. “We’re still going to have a diesel,” he said. (more…)

Daimler Brings in Outsiders to Check for Diesel Cheats

German maker denied possibility earlier, but EPA reviewing records.

by on May.02, 2016

Dieter Zetsche, CEO Daimler AG, said earlier that the company's diesel engines did not use any type of software to get around testing procedures.

Daimler AG has brought in an outside firm to review its internal records for any sign of cheating on emission tests for diesel engines sold in the U.S. and the European Union.

The auditing firm of Deloitte Touche Tohmatsu was hired to help with an internal investigation into its diesel-engine emissions technology requested by the U.S. Department of Justice, the luxury car maker said.

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The Delotte Touche review is specifically designed to see if Daimler used any devices to manipulate emissions tests. Volkswagen AG has admitted installing software that did so and faces billions in dollars in fines and court cases. (more…)

Volkswagen to Spend $8.8 Bil on U.S. Diesel Buy Back and Fix

Maker will shift focus to electric cars, says CEO Mueller.

by on Apr.28, 2016

Volkswagen's Matthias Mueller outlined the automaker's plan to spend $8.8 billion to buy back cars with faulty diesel engines.

Volkswagen expects to spend about 7.8 billion euros, or $8.8 billion, to buy back or fix the diesel cars it had rigged as part of an emissions testing scam.

The maker already has accounted for that charge, however, including it in the $18.2 billion deducted from 2015 earnings, CEO Matthias Mueller said Thursday. While the maker has yet to get formal approval for a U.S. fix, the executive said that dealing with the rigged diesels “will remain our most important task until the very last vehicle has been put in order.”

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Mueller also said that Volkswagen plans to increasingly shift focus away from the high-mileage diesels that have been a major plank in its product portfolio. It will now make battery-based vehicles – including hybrids, plug-ins and pure battery-electric models – “one of Volkswagen’s new hallmarks.” (more…)

Audi Developed Diesel Cheat Software in 1999, Reports German Paper

“Defeat Device” went unused until adopted by parent VW.

by on Apr.20, 2016

VW officials have been apologizing profusely about the diesel scandal, but it appears it was Audi engineers that actually developed, but never used, the device.

The so-called “defeat device” used to help millions of Volkswagen diesel vehicles illegally pass emissions tests was first developed in 1999 by the maker’s luxury arm Audi, according to a report published today by the German newspaper Handelsblatt.

The technology, which could detect when a vehicle is undergoing emissions tests and then modify certain engine functions to clean up the exhaust, was not put into use by Audi, however. It was instead adopted six years later by the Volkswagen brand when it was unable to meet toughened U.S. clean air standards.

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That decision came back to haunt the German giant. Last September, the U.S. Environmental Protection Agency accused VW of rigging more than 400,000 vehicles sold in the U.S. – the maker subsequently confirming it used the illegal software on 11 million vehicles sold worldwide. It is now facing a raft of lawsuits in the U.S., Europe and other parts of the world and may eventually pay billions of dollars in fines and legal settlements. (more…)

Dozens of Major Shareholders Sue VW

CEO Mueller tenuously retains supports after series of U.S. missteps.

by on Jan.18, 2016

Volkswagen's largest shareholders are recruiting smaller shareholders to file suit against the German automaker due to lost value of their shares.

Dozens of Volkswagen’s largest shareholders, along with “thousands” of smaller investors, are planning to sue the automaker, demanding compensation for the losses they’ve experienced as a result of the embattled German automaker’s diesel cheating scandal.

VW is already facing more than 450 lawsuits by owners of its faulty diesel models. Those suits, which have been consolidated by an inter-judicial panel, are expected to heard by a federal district judge in San Francisco. Among other things, those owners claim they have lost trade-in value as a result of the revelations VW rigged its diesel vehicles to improperly pass U.S. emissions tests.

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The latest action is being handled by the law firm Nieding + Barth, which intends to bring suit in a German court on behalf of 66 institutional investors in the U.S. and Great Britain. (more…)