Volkswagen Chief Warns on Existential Threat of Cheating Scandal
- Incoming Chairman Poetsch still confident of resolution
- Merkel sees no lasting effect of VW crisis for Germany
Could VW Diesel Dupe Push German Growth Off the Road?
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Volkswagen AG’s designated Chairman Hans Dieter Poetsch warned managers that the diesel-emissions scandal could pose “an existence-threatening crisis for the company,” as it pleaded for public trust with full-page ads in national newspapers.
The German carmaker faces a Wednesday deadline to present a plan to fix some 2.8 million vehicles in its home market. Poetsch told managers last week he was certain the Wolfsburg, Germany-based carmaker will overcome the crisis with enough effort, according to Welt am Sonntag newspaper.