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Volkswagen dieselgate scandal – India paying close attention

Matthias Muller is new VW CEO
Matthias Muller is new VW CEO

Volkswagen has lost over $22 billion in market cap since the scandal made headlines around the globe.

Volkswagen’s emission scandal has had devastating effects. Confessions were made, mistakes admitted, Martin Winterkorn has resigned and company stocks plunged sharply. However, this does not end here and the ripples of Volkswagen rigging of emission data will be felt all over the world.

After VW admitted to false emission readings that would affect over 11 million vehicles worldwide, experts predict that this scandal could spell doom for the diesel car engine. Analysts are also of the opinion that the gap between stringent environmental standards and actual real world performance of diesel cars will be difficult to link.

Volkswagen is set to announce Porsche head honcho Matthias Mueller as their new CEO, to fill the void left after the abrupt resignation of Martin Winterkorn on Wednesday.

Volkswagen Cheating Device

The device that caught Volkswagen red handed. Photo – West Virginia University.

Volkswagen dieselgate scandal could also have effect on the Indian market. Union Road Transport Minister Nitin Gadkari is keeping a close eye on developments. He has said that while there was no immediate cause for concern, reports on further developments were awaited.

Besides India, many other countries are also paying close attention to the development. European Union has asked all member nations to check the whether VW cars in Europe have these defeat device or not.


About the author

Pearl Daniels

Pearl Daniels

Former freelance writer, Pearl Daniels is in the auto industry since 2011, having established herself as a widely read staff writer since 2013. Her keen eye for industry news, daily need to break down latest events, and quest to not miss a single launch detail, gives you the most refreshing morning news on weekdays.

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