💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

VW CEO expects to win back customers despite cheating: DPA agency

Published 02/23/2016, 11:41 AM
Updated 02/23/2016, 11:50 AM
© Reuters. Volkswagen CEO Mueller speaks at their media reception during the North American International Auto Show in Detroit
VOWG_p
-

BERLIN (Reuters) - Volkswagen's (DE:VOWG_p) chief executive expects the carmaker to win back the trust of its customers following the emissions test-rigging scandal after its core autos division swung back to growth in January, German news agency DPA reported on Tuesday.

"We are quite confident that by regaining the trust of our customers, of the public and of our remaining shareholders, we will have a good year 2016," Chief Executive Matthias Mueller said when asked whether the scandal was having an impact on sales and temporary jobs.

Deliveries at VW's core autos division swung back to growth in January, helped by a double-digit rate of expansion in China, after suffering its first drop in more than a decade last year.

Sales at group level, which includes figures for brands such as luxury division Audi and Czech unit Skoda, also bounced back in January after posting the first decline last year since 2002.

Referring to the United States, where five months after its cheating was uncovered the carmaker is still to come up with a technical fix for almost 600,000 cars and is facing a growing number of legal claims, Mueller said: "We will certainly be a loser in the U.S.".

© Reuters. Volkswagen CEO Mueller speaks at their media reception during the North American International Auto Show in Detroit

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.