"In our opinion, the customers have suffered neither losses nor
"The vehicles are safe and ready to drive," Werner
Three months after first filing, a consumer complaint in the
exhaust gas scandal against the Wolfsburg-based company, more
than 400,000 customers have joined the law suit against VW,
which the Federation of German Consumer Organisations (vzbv) is
handling on behalf of the consumers.
Volkswagen argues that court-appointed experts and
independent service providers would have confirmed that the
price history of VW diesels had been stable since then.
Werner admitted, however, that there was "fundamental
uncertainty about the development of residual values for all
vehicles with diesel engines, including the discussion about
driving bans in German cities."
Driving bans for older diesel vehicles are currently
impending in several German cities due to high air pollution
Affected cities are, among others, Frankfurt, Bonn and Essen,
where for the first time a section of a German highway could be
subject to such a ban.
In Hamburg, a driving ban for diesel vehicles has been in
force since May.
revenue, accelerates e-vehicle push
BERLIN Germany (Xinhua) --
The Volkswagen Group's annual sales
revenue increased by 2.7 percent to 235.8 billion euros (265.7
billion U.S. dollars) in 2018 despite problems with the
introduction of the new Worldwide Harmonized Light Vehicle Test
Procedure (WLTP), Europe's largest carmaker announced here on
"We had a decent showing in 2018, especially against the
backdrop of the changeover to the WLTP, which led to
considerable upheaval in our sales performance," Herbert Diess,
chief executive officer (CEO) of the Volkswagen group,
Until September 2018, Volkswagen had struggled to have its
models certified under WLTP, which led to a sharp drop in
Volkswagen's registrations in the last quarter of 2018.
For fiscal year 2018, Volkswagen's operating profits remained
practically unchanged from 2017 at 13.9 billion euros, the
Profits were negatively affected by 3.2 billion euros worth
of expenditure to cover costs relating to the so-called "dieselgate"
crisis, in which Volkswagen and other German car manufacturers
manipulated the emission test results of diesel cars.
For 2019, VW expects deliveries to slightly exceed the
previous year's figure of 10.8 million cars despite the
continuously "challenging market conditions," such as increasing
competition, exchange rate volatility and stricter WLTP
The Volkswagen Group expects turnover to increase by up to 5
percent in 2019.
"The headwinds in key markets are expected to strengthen
further in 2019," said Diess. the company would have to
"redouble" its efforts to meet the business targets set for
fiscal 2019, he said.
Volkswagen also announced on Tuesday that it is aiming to
sell 22 million electric vehicles within the next ten years.
Previously, Volkswagen had projected to sell about 15 million
electric vehicles during the next decade.
Furthermore, the VW Group is planning to launch almost 70 new
electric models by 2029, instead of the 50 previously planned.
"Volkswagen is taking on responsibility with regard to the
key trends of the future -- particularly in connection with
climate protection," said Diess, adding that the targets of the
Paris Agreement would be Volkswagen's "yardstick."
The company plans to achieve complete decarbonization by
2050. (1 euro = 1.13 U.S. dollars).
US Securities and Exchange Commission has filed suit against
and its former chief executive, Martin Winterkorn , claiming
United States Securities and Exchange Commission sues
CEO over alleged emissions fraud on thousands of overseas investors