Bye bye 30,000 jobs.

But the fine was $14.7 billion so I suspect there will be more cutting

http://business.financialpost.com/ne...ve-3-9-billion

 

What i'd like to know is if a company can 30,000 jobs why did those positions exist in the first place?

 

The fact that they had to obtain union agreement to make those cuts should tell you everything you need to know. You do live in Ontario, don't you?

"Weighed down by unwieldy labour contracts, a bloated lineup of vehicles and a convoluted structure, the VW brand has struggled with weak profitability."

Hmmm... that sounds strangely familiar. Where have I read that description of an auto manufacturer before?

 

i'm gonna go out on a limb and say Brampton, Windsor, Oakville and Oshawa..

 

I wonder if whoever ends up buying this company at a bargain price might have had a hand in this whole drama ??
Why isn't there a profound push to go after coal burning entities, steal smelting companies, raw sewage dumping enterprises, etc. with the same type of vigor ??

 

Because they were likely smart enough to purchase carbon offsets

http://www.davidsuzuki.org/issues/cl...arbon-offsets/

The whole thing is Horse****

 

Because they're mostly American companies.

FYI: Dodge diesel
http://autoweek.com/article/car-news...action-lawsuit

I bet they won't face the same type of fines.

 

The Porsche/Piëch family owns around 52% of VAG so has complete voter control. I do not anticipate any takeover of VAG, but I could see them shed non core assets such as Ducati,Lamborghini and so on.

 

I don't see them divesting either Lambo or Ducati based on these numbers, the basic brown Euro boxes will be hit hardest by the Diesel Scandal, I would guess anyone making VW's/Audis/Seats/Skodas etc will see the pinch.

Sant'Agata Bolognese, 2016-03-03
Automobili Lamborghini makes 2015 the best year in company history
• Global sales exceed 3,000 units for the first time and increase by 28% to 3,245
super sports cars
• Turnover increases by 39% to 872 million euro
• Positive yield with continued profitable growth
• Introduction of five new models to the market
• Decision to produce new third model series brings with it double the production
space and creation of new jobs by 2018
• Very positive outlook for 2016

Ducati Group is showing a consistent growth rate - closing 2015 with 54,809 Ducati motorcycles delivered to owners worldwide. The growth in sales allowed the turnover figure to exceed 700 million Euro, with operating profit at 54 million Euro and an operating return on sales of 7.8%.

 

Agreed. Appears to be up up up for luxury brands. Lambs SUV will make money...tons of money!

 

Yeah they won't be letting go of Audi or reducing investment any time soon. That is a huge moneymaker for them.

 

I would bet that the folks inside Lamborghini and DucAudi would rather
have an Italian parent company.

 

I don't know anything about motorcycles but if you consider the financial stability, engineering and quality improvements Audi ownership brought to Lamborghini, they should be delighted with German ownership.