Volkswagen Takes First Step in Recovering Consumer Confidence
The C-E-O resigned, but many questions remain about the future of the diesel-powered vehicles–and the long-term impact of the scandal on Chattanooga.
Volkswagen CEO Martin Winterkorn has stepped down, falling to public pressure after the giant automaker admitted to cheating on U.S. emissions tests.
Winterkorn said he accepted responsibility for what he called the "irregularities". The announcement came early Wednesday.
Closer to home, owners of the diesel Passats are reacting.
CHRIS THOMAS, DIESEL PASSAT OWNER, EXEC. DIR. CHATTANOOGA MARKET "I’m stunned. There’s been such a fraudulent marketing claim, really, that now its put all the diesels ,which we paid extra for…thinking it was going to help the environment…but now they may not ever pass emissions..and the value of two of our two of our vehicles may have suddenly gone to zero overnight."
Two powerful members of the Tennessee General Assembly had a lot to say about the disturbing events in our Tuesday interviews.
SEN."BO" WATSON, SENATE SPEAKER PRO TEM "The senate,and maybe the house will join us but that the senate go ahead and begin having some meetings to discuss what are the implications of this in terms of Tennessee and Tennesseans’ investment."
The state spent 167-million dollars for Volkswagen incentives last January.
REP.GERALD MCCORMICK, HOUSE MAJORITY LEADER "I hope the callback provisions that we have in the economic development incentive packages are enough that we could be reimbursed for a good portion of those incentives."
CHRIS THOMAS "You know, overall..we like the vehicles..its a good car..we’ve enjoyed the quality of it…but this is a big surprise..and I think, like everyone, we’re trying to figure things out and understand what the future holds for us."
Those unanswered questions include concern over whether the diesel vehicles will ever pass emission tests after the company corrects the sensor.
Shares of the company regained some ground today.
But Volkswagen lost 28-billion dollars from its market value on Monday and Tuesday.
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