The CEO of Volkswagen's North American operations offered a public apology to consumers and dealers during the Los Angeles Auto Show's press day. He said the company is on the verge of revealing its plan to fix the nearly 500,000 diesel vehicles sold in the United States with an emissions software cheat.
In a joint press conference preceding the Los Angeles Auto Show, representatives from the NADA and J.D. Power spoke on the current state of auto retailing and delivered their 2016 new- and used-vehicle sales predictions.
Volkswagen has launched a "TDI Goodwill Program" to offer compensation to owners of its diesel-powered vehicles.
According to the vehicle pricing firm, Volkswagen diesel models are already showing higher depreciation than their comparable gasoline-powered models.
Not only do more than half of consumers on Kelley Blue Book and Autotrader have "complete" or "general mistrust" of the Volkswagen brand in the wake of its emissions scandal, 30% of users of both sites are less likely to consider a diesel-powered vehicle.
Volkswagen AG plans to refit all 11 million vehicles involved in the emissions-rigging scandal. It also announced significant changes to its top leadership, while dealers await answers.
Volkswagen's Martin Winterkorn has resigned from his post in the wake of the company's developing emissions scandal.
Volkswagen's chief executive apologizes for emissions scandal and promises to 'do everything necessary in order to reverse the damage this has caused.'
This month's sales pro Matt Reynolds has found lasting success and perfected the art of the two-car deal.
November total light vehicle sales increased 4.6% from a year ago to more than 1.3 million units. The industry SAAR was also up significantly from a year ago and the month prior, rising to 17.20 million units.
