Volkswagen Current Affairs - 2019
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Japanese automaker Toyota Motor Corp. has topped in global vehicle sales in 2015 by selling 10.151 million vehicles, beating Volkswagen and General Motors.
With this, the company has retained its status as the world’s top-selling automaker for the fourth straight year.
While, German automaker Volkswagen AG is ranks second in global vehicle sales list and has sold 9.93 million vehicles in year 2015. Detroit-based General Motors (GM) ranks third in the list and has sold at 9.8 million vehicles.
In 2008, Toyota had broken GM’s 7 decades of long reign as the world’s top automaker. But it had lost it in 2011 as Japan’s devastating earthquake-tsunami disaster that had dented its production and disrupted the supply chains. However, in 2012 Toyota once again overtook GM and since then it has remained on top position,
German auto maker Volkswagen AG has appointed Matthias Mueller as its new chief executive officer (CEO).
Prior to this appointment, he was serving as CEO of Volkswagen’s subsidiary Porsche AG.
He will succeed Martin Winterkorn who had resigned from office following an emissions cheating scandal (dubbed as Diesel Dope) described as a moral and political disaster.
Matthias Mueller first priority as CEO would be to win back trust of investors following a plunge in Volkswagen AG stock by 30 per cent over the Diesel Dope scandal. The scandal had damaged the reputation of world’s largest car manufacturer’s in terms of sales and had threatened its business.
Earlier, Volkswagen AG had admitted that it had cheated on diesel car emission test in United States by manipulating it by making changes in software on more than 4 lakh cars.
Currently, US Environmental Protection Agency (USEPA) is investigating into Volkswagen over the Diesel Dope scandal. Transport authorities in several countries including the United Kingdom, South Korea and Germany etc also have announced their own investigations.