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Four Things Germany Won’t Tell You About The Volkswagen Scandal
Germany is well known for high quality cars. Over 20 percent of the country’s exports are auto related and over 775,000 people work for the country’s automakers, so when the VW scandal was exposed, the pride of the entire nation was hurt. That’s why there are a few things Germany won’t tell you about the Volkswagen scandal.
The German Government Owns Part of VW
One of the main VW investigations is being led by the German state Lower Saxony, which is where the VW headquarters is located. The state holds two seats on the VW supervisory board and owns 20 percent of the company’s voting stock, so the Lower Saxony government has a lot to lose in this scandal.
Files Have Gone Missing in the Investigation
Recently the state government filed a complaint with the Lower Saxony State Criminal Office asking for an investigation into missing files that may have been stolen. The German state assures the public that those files were non-essential, but many are beginning to question the investigation.
Who is to Blame for the Scandal?
A confidential source for The New York Times told the newspaper that 10 Volkswagen executives and engineers have been suspended in connection to the “defeat device” scandal, but their names are being withheld. This is leaving victims of VW wondering if the company truly plans to punish those responsible.
Audi and Porsche Might also be Involved
These factors combined with the German government’s demands for an 8.5 million car recall has crippled the company, and made its future uncertain. Volkswagen stock has lost over one-third of its value since the scandal broke, and the threat of fines still loom over the company with no solution in sight. Now rumors that the company’s luxury brands Audi and Porsche might also have defeat devices in some of their products threatens to worsen the company’s downward spiral.
Colson Hicks Eidson—Injury Attorneys