Volkswagen is circling the drains and the much maligned German company has started out this year with the worst bang imaginable. The diesel emissions cheat has been in the news at least the last five to ten cycles and it looks like that won’t change anytime soon. This is, of course, much to VWs chagrin.
After we heard about a second employee being arrested in connection to the cheats, now we’ve just received word that Volkswagen will be on the hook for $4.3 billion. Not only that, but they have finally admitted to their cheats and a wide ranging cover up to hide it from consumers.
BREAKING: Volkswagen pleads guilty to 3 charges, will pay $4.3 billion penalty for emissions cheating and wide-ranging cover-up.
— The Associated Press (@AP) January 11, 2017
I’m going to go ahead and say that the AP is a pretty trustworthy breaking news source so this is pretty much all said and done.
How did the cheat work?
For those of you that do not know, here’s exactly how the emissions cheat was implemented and carried out by the VW engineers.
VW duped customers into believing that they were buying a cleaner vehicle when in reality that was utterly false. It remains to be seen how this will effect Volkswagen car sales, but the 2016 numbers did not call by much. 2017, however, is a much different story and VW is not starting the year off on the right foot.