VW: 'Uh, we might be lying about CO2 as well...'
Volkswagen are facing more trouble, after the debacle that surrounded them lying about emissions coming out of the back of some of their cars. Now, they're admitting that up to 800,000 petrol and diesel-powered cars have had their CO2 and mpg ratings wrongly certified.
VW say: "Under the ongoing review of all processes and workflows in connection with diesel engines it was established that the CO2 levels and thus the fuel consumption figures for some models were set too low during the CO2 certification process. The majority of the vehicles concerned have diesel engines."
They also say that they're going to "immediately start a dialogue with the responsible type approval agencies regarding the consequences of these findings".
What a mess. The fines for the company are going to be enormous - we think they might be record breaking, such is the gravity of the situation. Of course, this doesn't just affect VW cars, but other cars in the group from Audi, Seat, and Skoda. Porsche might be implicated in all of this too. Volkswagen have put £1.4bn aside to sort this out - it'll cost them more than that.
The value of the company is dropping like a stone, with over €4bn wiped off.
In the statement, Matthias Müller, CEO of Volkswagen, said: “From the very start I have pushed hard for the relentless and comprehensive clarification of events. We will stop at nothing and nobody. This is a painful process, but it is our only alternative. For us, the only thing that counts is the truth. That is the basis for the fundamental realignment that Volkswagen needs. The Board of Management of Volkswagen AG deeply regrets this situation and wishes to underscore its determination to systematically continue along the present path of clarification and transparency."
What about recalls? Well, the Department for Transport said that they won't be issuing a mandatory recall for cars affected by Volkswagen's emissions scandal. A spokesperson said: "The government has been putting pressure on VW to address these issues quickly. The government expects VW to set up the next steps on how they are going to correct this problem and support owners in the UK. In the past few weeks the Transport Secretary has spoken to the German Transport Minister about the actions of VW, and has been reassured that the German authorities are working closely with VW."