It’s now been nearly two months since news of the Volkswagen diesel emissions scandal broke. If you own a diesel Volkswagen vehicle, or indeed an Audi, Seat or Skoda (all of which are also implicated), you’re probably curious as to the recent developments.
As such, we’ve decided to compile some of the latest information for you. Although other things have taken over as headline news, there has still been a steady stream of media reports related to the scandal.
Will your VW be recalled?
The first issue to address is the big recall. 1.2 Million of the 11 Million cars affected by the VW scandal are located in the UK, and VW and its subsidiaries will begin to recall them for corrective action from early next year.
An interesting point, raised by The Telegraph last month, is that owners of affected vehicles won’t be legally obliged to take part in the recall. However, it would be foolish to ignore it, as your car will continue to be more polluting than it should be, and its resale value will potentially fall if the work hasn’t been done. On the flip side, reports suggest the vehicles could become slightly more expensive to run after the recall fix, to the tune of around £50 per year.
What’s happening to Volkswagen now?
VW, as a company, is in all sorts of trouble, facing legal action in multiple countries. According to a report in The Guardian, even VW’s investors are starting to launch lawsuits.
There’s even talk that VW’s senior management are scared to travel to the US in case they are arrested in relation to the scandal. According to a separate report in The Guardian, one VW employee has had their passport confiscated in the US.
VW’s share price has fallen by around 40% since the scandal broke, essentially almost halving the value of the company.
Is there a future?
Obviously Volkswagen is a huge global company, but it’s astonishing to have watched it fall so hard and fast. In the UK October’s sales figures painted a depressing picture. Across VW, Seat and Skoda, sales of new vehicles were down by an average of 15%, although Audi sales were unaffected.
We shall keep our ears to the ground for any further news, especially relating to the recall. If you own an affected car, getting it fixed so it kicks out fewer emissions should be a top priority.
IMAGE CREDIT: Wikimedia Commons