Volkswagen boasts of bigger profits despite “Dieselgate” scandal but the mask continues to slip
Despite admitting to the world that it cheated car emissions tests and installed illegal defeat devices into some 11 million vehicles worldwide, Volkswagen have been reporting healthy profits. According to some of the latest figures, Volkswagen Group’s third-quarter operating profit this year is £3.8 billion; an increase of 15% from the same time period for last year.
You could argue that once costs relating to the scandal are taken off the sum, operating profits may actually be way down; but that’s not the only thing to be wary of when it comes to this news. You see, VW want this scandal to go away, and they probably think these profit reports can help to achieve that.
But people are seeing through the smoke and mirrors…
Frank Witter, VW’s management board member for finance, said the firm had “an adequate financial cushion”. The real shame here is that they are refusing to use any of this “cushion” for the UK victims of the emissions scandal. European consumers who invested in VW’s supposedly eco-friendly vehicles are being refused compensation completely. At the end of the day, we must assume that Volkswagen’s priorities are to make money as a private company, but a company must also have integrity and appreciate its customers.
Their deceit over the emissions scandal should be enough motivation for them to do the right and honourable thing: pay their dues!
Before anything else, Volkswagen needs to put aside the money to deal with the atrocities they have caused here in the UK. Financial damage aside, Volkswagen’s cars are contributing to the additional dangerous levels of air pollution that are directly linked to health issues and premature deaths. In fact, scientists have warned that the excessive NOx pollution Volkswagen’s cars are emitting will likely have contributed to thousands more premature deaths, as well as creating and exacerbating respiratory problems too.
Volkswagen have already paid out billions of US dollars across the Atlantic to compensate thousands of consumers in the U.S. They’ve spent something like $20 billion in paying for settlements and lawsuits, penalty fines and environmental investments in the U.S. We understand that differences in the law has meant proper pressure has been put on VW to pay out, but there is plenty the UK government can do as well.
The recent revelations about testing on monkeys has served only to demonstrate the type of organisation we are dealing with here. Come on, VW; do the right thing and pay the price for your deceit!
Your profits are up – so pay up!
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