Stock market quotes, forex, financial news, forex tools – money-investing.com

Volkswagen Group got found out: models Porsche Cayenne are being withdrawn from the market

 Breaking News
  • The intensification of the conflict between the USA and China leads to reduction of oil prices The energy market has started the trading session rather unsuccessfully. The next round of the trade war between the States and China caused the price fall. Because of this investors...
  • Germany saves Lufthansa An air carrier Deutsche Lufthansa AG has suffered losses because of the spread of the coronavirus pandemic. It became known that the German government had not left the matter unattended...
  • Israel economy sets anti-records Israel is a recognized high-tech paradise, a stable and strong platform for business development. However, the economy of the country in the Middle East has failed to resist the consequences...
  • A car rental service Hertz went bankrupt Hertz, the largest US car rental company, has filed for bankruptcy. The company was founded already in 1918. For a hundred years, Hertz has coped with the Great Depression, the...
  • Monday starts with the growth of oil prices The energy market started today’s trading session with the steady growth. Quotes are increasing on the signals about the recovery in demand and a decrease in production in the States....
Volkswagen Group got found out: models Porsche Cayenne are being withdrawn from the market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The total volume of vehicles withdrawn from the market amounted to 9% of all cars under the brand Porsche, which were sold in 2016.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

0 Comments

No Comments Yet!

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

Write a comment

Write a Comment