Volkswagen: Political maneuvers behind the wheel? – CNBC
Volkswagen “won’t be the same company” as the emissions scandal unwinds, Wolfgang Schaeuble, German’s austere finance minister, warned on Wednesday.
On both sides of the Atlantic, Volkswagen’s — and indeed much of the carmaking industry’s — destiny is now more more in the hands of politicians than it has been for decades. Politicians will be under pressure both domestically and internationally to make the company, and maybe even the sector, pay for its apparent falsifying of emissions data.
On Wednesday, Volkswagen UK said that around 1.2 million vehicles in Britain, including Audi, Seat and Skoda cars, were affected by the emissions software, according to Reuters while in France just under a million vehicles are expected to have been affected.
In addition, Porsche, which is owned by Volkswagen, named Oliver Blume as its new chairman of the executive board.