VW CEO APOLOGIZES FOR SCANDAL, DENIES RESPONSIBILITY

Oct 08, 2015

By Bob Komsic

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Volkswagen’s top executive in the U.S. went to Washington to answer questions from a congressional subcommittee.
michael-horn
Michael Horn says he and other top officials at the world’s largest automaker had no knowledge of the emissions cheating software installed in 11-million diesel vehicles.
”To my understanding this was not a corporate decision, this was something individuals did,” adding he felt deceived.
Some lawmakers found that hard to believe.
Horn conceded, ”I agree it’s very hard to believe.”
As the subcommittee members expressed anger, skepticism and disappointment at the company where the 51-year old Horn has spent almost half his life, he apologized but offered little new information.
He said VW may pay customers for a loss in resale values and that it does not yet know what all of this will cost.
Just before Horn began his testimony, German police and prosecutors raid VW’s headquarters and other locations seeking more information that would help clarify just who was responsible for the cheating.
Officials from the U.S. Environmental Protection Agency say it’s likely the automaker will face significant fines and possible criminal charges.
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