Stock market quotes, forex, financial news, forex tools –

Volkswagen Group got found out: models Porsche Cayenne are being withdrawn from the market

 Breaking News
  • US Ministry of Energy predicts reduction of oil prices The US Ministry of Energy has published a monthly report, which turned out to be discouraging. It is expected that in the last quarter of this year the price for...
  • 28 Chinese companies are blacklisted by the US Everyone knows that just in few days two powerful states China and the USA – are starting the next round of the negotiations. Official Beijing has announced that it is...
  • Startup WeWork again in spotlight We have been writing about the startup WeWork, which was forced to postpone the initial public offering. They earn by renting commercial space for a long time in order to...
  • Massive cuts in HSBC HSBC Holdings Plc, the largest bank in Europe and one of the most significant and serious players in the global financial market, has announced the launch of a cost-optimization program....
  • Oil quotes still wait for negotiations Today, at 8.15 a.m. Moscow time, futures for Brent crude oil were trading in London for $ 58.31 per barrel. This is only 0.1% below the closing price of the...
Volkswagen Group got found out: models Porsche Cayenne are being withdrawn from the market
July 28
09:00 2017

Alexander Dobrindt, Federal Minister of Transport and Digital Infrastructure in Germany gave the reporters unfortunate information. The fact is that a special device and a program were found in the cars of the luxury segment Porsche Cayenne TDI equipped with three-liter diesel engines. The purpose of these additional devices is to bypass environmental tests.

Thus, when measuring harmful emissions, cars showed understated indicators.
According to the results of the investigation, conducted by the Ministry of Transport of the Federal Republic, there was a claim to withdraw about twenty-two thousand cars under the brand Porsche from the European market.

The total volume of vehicles withdrawn from the market amounted to 9% of all cars under the brand Porsche, which were sold in 2016.
Undoubtedly, this news will negatively affect the financial performance of VW Group that owns the company Porsche.

The material was prepared with the participation of Andrey Majorov,
a leading analyst of the brokerage company CT Trade

Related Articles


No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment