IHS releases first production forecast since Volkswagen (VW) emissions revelations
IHS issues downward revision of VW's production forecast taking in all forecasting factors and not just the impact of the diesel emissions situation.
IHS Automotive is today (16 October) publishing its first production forecast revision since the Volkswagen (VW) Group was sent a letter of violation by the US Environmental Protection Agency (EPA) on 18 September over its EA189 diesel engine being fitted with a "defeat device" that could detect the EPA's emissions test. VW stated that 492,000 units were affected in the US with a total of over 11 million vehicles affected worldwide. The situation has led to the resignation of CEO Martin Winterkorn and made VW the subject of negative worldwide media coverage. VW has set aside an initial figure of EUR6.5 billion in potential losses and the situation is continuing to evolve.
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