Last Saturday, I purchased a new VW Polo 1.2 Tsi. My friends and colleagues at UCL may find my decision to buy a car from a company embroiled in the emissions scandal strange, given my ‘green’ lifestyle. Why did I do it? Well, we’ll come to that shortly. In the meantime….
Volkswagen’s former boss Martin Winterkorn resigned last week as the emission-rigging scandal hit the headlines and is now, along with others, the subject of a criminal investigation. The German car maker is bracing itself for a barrage of lawsuits in the US and elsewhere over its attempt to subvert emissions testing in its diesel cars, with some commentators estimating that over 80 federal suits have been filed so far. Shareholders are also lining up for their piece of the potential billions that could be paid out, as the perfect storm of illegal behaviour and severe financial harm combine.