Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 31 n° 301

Expert comment on Volkswagen’s pre-tax profits falling 20 per cent

Posted by fidest press agency su giovedì, 2 giugno 2016

Christian Stadler, of Warwick Business School, is a Professor of Strategic Management and researched Volkswagen for his book Enduring Success.Professor Christian Stadler said: “Volkswagen’s sales and profits being down was to be expected, but the real story is that the company still makes profits. After the emissions scandal many observers expected Volkswagen would struggle to survive.
“Under the circumstances a 3.2 billion euros profit is not bad. Although rivals Toyota reported substantially higher profits of 4.5 billion euros that was aided by a weak yen. But General Motors, the other company competing for the ‘largest car company spot’, had lower profits than Volkswagen.”What becomes more and more obvious is that the emissions scandal is costly, but far from life threatening for Volkswagen. As the first court cases are starting to be settled the true cost is also starting to emerge. A first deal reached in the US in April is estimated to have cost Volkswagen around $10 billion. This is obviously not the end but Volkswagen will manage these payments.”It is also becoming obvious that potential Volkswagen customers don’t care about the environmental issues that much. What they care about is quality and value for money. As long as Volkswagen is handling the settlements well, it is unlikely to have a long-term effect on the company. “The one remaining big question is whether the regulators will introduce changes that will undermine Volkswagen’s product structure. If diesel cars are no longer a good deal in Europe – ie they are no longer regulated in a way that gives them an advantage compared to petrol powered cars – then the company needs to worry.”

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