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Originally Posted by GGG
I get why resale value in California and emission controlled states would drop but why is a VW outside of those areas affected. It just emits a little more NO2 a gas you didn't care about until today.
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It's the federally mandated EPA limits that they are violating. I'm sure the federal government will want to enforce that the fix is mandatory across the country. I don't know if Canada has any similar laws.
And it looks like it is going to be a whole lot worse:
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hares in Volkswagen plunged another 20% Tuesday, after crashing 17% Monday.
That means more than a quarter of the value of the company has been wiped out since Friday when U.S. regulators revealed that the company had cheated in emissions tests on about 500,000 vehicles.
And the scandal keeps growing. Volkswagen said Tuesday internal investigations had found that some 11 million vehicles worldwide showed a noticeable deviation in emissions between test results and road use.
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It sounds like VW will do their best to make it right with owners. But can they do that without running out of money first?