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The CEO of Volkswagen's North American automotive business offered a rare public apology at the Los Angeles Auto Show on a press day that's usually filled with glossy vehicle reveals, and said the company is on the verge of revealing its plan to fix the nearly 500,000 diesel vehicles sold in the U.S. with an emissions software cheat.
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Volkswagen AG will discuss its blueprint to realign the company and emerge from the diesel-engine crisis, when it presents a 10-year strategic plan to the public in January, the company has announced.
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Volkswagen's diesel models have lost their value in the auction lanes at a much sharper rate than comparable gasoline models since revelations came to light that the company had included a software cheat in the vehicles to beat emissions tests.
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Volkswagen AG will launch a recall in January of its diesel-powered cars that included cheat software designed to defeat emissions testing in a scandal that's expected to have a wide-ranging impact on one of the largest global automakers.
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Volkswagen's new leader promised that the company will survive a scandal over its gaming of U.S. diesel emissions standards and said a technical solution is imminent for owners of the affected vehicles.
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Volkswagen AG will ask the owners of 11 million vehicles that include emissions cheat software to report to dealerships to have their vehicles "refit" to correct the problem, the company announced Sept. 29.
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The U.S. Environmental Protection Agency will implement additional testing of diesel vehicles designed to uncover potential software algorithms used to evade federal emissions standards, the agency announced Sept. 25.
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Volkswagen has appointed Matthias Muller, the chairman of Porsche AG, as its new chief executive to replace the departed Martin Winterkorn, and will restructure its North American operations in the wake of a scandal over diesel emissions.
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Volkswagen's dealers have thrown their support behind Michael Horn, the North American chief executive who has reportedly been fired amid a deepening scandal over the manipulation of diesel engine technology.
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Volkswagen is set to appoint Matthias Muller, the chief executive of Porsche, as its new leader amid a widening scandal over its gaming of emissions testing affecting 11 million of its diesel vehicles.
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