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Volkswagen ‘dieselgate’ takes it toll

For the first time in 15 years, Volkswagen has reported a quarterly loss of £1.2 billion. This was after they had set £4.8 billion aside for the emissions scandal that shocked the world. Even more bad news for VW, the car manufacturer has officially been overtaken as the top-selling car manufacturer by Toyota.

However, VW aren’t giving up that quickly! The car manufacturer is reportedly expecting a growth in sales this year, but is also expecting a fall in profits.

Regardless of VW unwavering optimism, Toyota has overtaken VW after selling 7.5 million units, whilst VW are just under at 7.43 million sales.   

VW CEO Matthias Muller has in place a ‘five-point’ plan to recover the company from the emissions scandal. The five-point plan is broken down like this:

1. To support all 11 million VW customers affected by the emissions scandal

2. To complete the investigation over the defeat device

3 & 4. ‘Cultural and managerial realignment within Volkswagen  and detailed investigation into the 300 model strong portfolio’

5. Transform its ‘Strategy 2018’, VW’s internal commitment to sell 10 million vehicles a year to a more improved ‘Strategy 2025’.

Just below is video from VW to their customers, apologising for the emissions scandal and taking full responsibility for their violations, but argue that the scandal doesn't represent their values as a company.



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