The Volkswagen scandal threatens the reputation of German goods 4
The scandal of cheating in emissions tests in the US is engulfing this famous car company.
`German goods have always been of good quality and reliable. But now, that trust has been lost. No one could have imagined that the incident would be on such a large scale, and the damage it would cause to the industry.`
Bild daily once compared Volkswagen to the jewel in the crown of German manufacturing and said that their success cannot be destroyed.
This company’s shares have lost nearly 35% in two sessions and continue to plummet today.
A Volkswagen car factory.
The impact of this scandal is especially great in Germany – Europe’s largest economy.
`The special success of an exporting country like Germany lies mainly in the `Made in Germany` brand. Volkswagen represents the quality of German goods, for perfection, stability and reliability. Even if not yet
The German auto industry is creating jobs for 20% of the country’s workers.
German Economy Minister – Sigmar Gabriel also expressed concern about the reputation of the auto industry, although Volkswagen’s competitors such as Daimler or BMW were quick to declare that the accusations against this car company did not affect them.
Brand consulting firm Interbrand said Volkswagen is worth 10 billion euros and is one of Germany’s most valuable brands.
This scandal has ruined the company’s efforts to delve into the clean fuel vehicle segment – which is a pillar in its efforts to develop environmentally friendly technology.
CEO of Volkswagen in the US – Michael Horn admitted they were `completely wrong` and committed to making changes.
Mercedes then responded by recalling the car and adding new safety features.
However, this scandal is completely different.
After many recent scandals involving German companies and organizations, people are starting to view things as if wrongdoing is not limited to a few isolated cases.
Last year, Europe’s largest car club – ADAC (Germany) was discovered to have faked the results when awarding annual car awards.
