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R.i.p.v.w.

Discussion in 'BlackHat Lounge' started by nycdude, Sep 21, 2015.

  1. nycdude

    nycdude Regular Member

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    Man, reading the news as I usually do, and I just learned one of my favorite auto companies pulled a Bill Cosby!

    http://money.cnn.com/2015/09/21/investing/vw-emissions-cheating-shares/index.html

    VW shares crash 20% on emissions cheating scandal

    "Shares in Volkswagen crashed 20% Monday, wiping 16 billion euros ($18 billion) off the company's value after it was found to have misled U.S. regulators."

    I can never look at my Jetta again :(
     
    Last edited: Sep 21, 2015
  2. Capo Dei Capi

    Capo Dei Capi BANNED BANNED

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    I don't get why they have to recall, I'm pretty sure no one actually cares about the emissions(besides the government). It wasn't like it was a serious issue.
     
    Last edited: Sep 21, 2015
  3. Reaver

    Reaver Jr. VIP Jr. VIP

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    It was the regulators who ordered them to recall the cars. I'd wager most of the people who own the affected cars couldn't care less, unless they're hippies or environmentalists or something.

    OP do you own one of the models in question?
     
  4. Reaver

    Reaver Jr. VIP Jr. VIP

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  5. Capo Dei Capi

    Capo Dei Capi BANNED BANNED

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    The EPA is probably going to go through the records of who owns the cars, even if they are in a non emission testing state.
     
  6. SkyrocketSEO

    SkyrocketSEO Jr. VIP Jr. VIP Premium Member

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    VW cars are overpriced anyway, they deserve to go down. When Deutch Mark turned into Euros, suddenly a 20,000 DEM car becomes 20,000 EUR car (double the price) and no one say anything about that, they just keep buying it...Bought a new Ford few months ago, similar option at VW costs 10K euros more and have less equipment.
    Fuck them
     
  7. Reaver

    Reaver Jr. VIP Jr. VIP

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    That's bc with VW you're paying for the name, not the car itself. It's like name brand clothes. People buy hundred dollar purses, suits, shoes, etc. for the name. Some of them are absolute shit quality but you've got a name brand on it so that makes you someone. It's a status symbol. Nothing else.
     
  8. SkyrocketSEO

    SkyrocketSEO Jr. VIP Jr. VIP Premium Member

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    A VW is not a status symbol. They tried something with Phaeton, but if I am gonna spend that kind of money I will go with Mercedes instead.
     
  9. Reaver

    Reaver Jr. VIP Jr. VIP

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    Lol it isn't one to YOU. That doesn't mean it isn't one to other people.
     
  10. SkyrocketSEO

    SkyrocketSEO Jr. VIP Jr. VIP Premium Member

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    Okiedok. It is a common car....Porsche or Lambo is a status symbol. You know, cars that you don't see at parking lot in front of Aldi
     
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  11. Reaver

    Reaver Jr. VIP Jr. VIP

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    I feel that way about Nikes bro. Doesn't mean it's not a status symbol in other cultures. Just sayin'.
     
  12. Capo Dei Capi

    Capo Dei Capi BANNED BANNED

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    I thought most cars besides cheap sub $17,500 were sold for the brand?
     
  13. amoon

    amoon Jr. VIP Jr. VIP

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    vw provides a good cars with quality and price....i think it political issue
     
  14. nycdude

    nycdude Regular Member

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    lol, I really doubt my Jetta falls under these cars, my Jetta is of Mexican decent and emission standards are pretty low here, if any at all.

    I've grown up with VWs and have grown to love the 'Image' they have. I remember we used to always say, "It's made by Porche, it has to be good!" And I've never had major issues with VWs, they're just good dependable cars.

    I'm sorry to see their image just got utterly creamed for lying. Interesting to see the Govt being on the up and up and exposing them, geez 18 BILLION dollars is a lot of money to lose.

    My 'conspiracy theory' side wonders why the Govt didn't just take half that amount of money and brush the lies under a carpet.
     
  15. b1step-ahead

    b1step-ahead Power Member

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    By this time next year vw's stock will be back up, wait 2-3 weeks for it to hit 90 or so and then gobble them up for a long play.
     
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  16. Reaver

    Reaver Jr. VIP Jr. VIP

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    They'll lose way more than that. The lawsuits, paying their lawyers to handle it, the cost of recalling the cars, plummeting stocks and anything else the gov't tasks them with will exceed 18 billion. That's why they did it. The gov't stands to profit. $18 billion+ in a public scandal is a much better figure than being bribed to keep it under the carpet.
     
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  17. elfgirl

    elfgirl Jr. VIP Jr. VIP

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    Better buy their stock before it goes back up.
    Could be a potential money making opportunity right here. This is a reputable company with many years in business, I think they'll bounce back up.
     
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  18. Capo Dei Capi

    Capo Dei Capi BANNED BANNED

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    They didn't lose the money, the $18 billion is the maximum they can lose but they will probably settle for 1/4 of it since they are recalling to fix the issue and stop selling the cars.
     
  19. Sherbert Hoover

    Sherbert Hoover Jr. Executive VIP Jr. VIP

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    Meanwhile the 100 shares of Tesla I bought myself for Christmas in 2012 that were $34 a share are now ~$264 a share. $3,400 to $26,400!
     
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  20. Capo Dei Capi

    Capo Dei Capi BANNED BANNED

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    I think with emissions control the car basically sucks in performance. So if you get a recall notice, do it so you can register your car again and then afterwards get an aftermarket peformance chip and software to make it awesome again.