Wolfsburg - The scandal that tarnished Volkswagen vehicle emissions would hurt the company billions of dollars. In fact, its impact may extend to the German economy as a whole. Position as the king of world car sales was threatened eliminated.
Volkswagen's reputation as the world's largest automaker since July 2015 is now tarnished. It comes after the United States Environmental Protection Agency found that VW uses software to trick exhaust emissions.
After the violation was revealed, torn VW just as beaten up. Began declining stock prices, the decline in consumer confidence, the reform of the executive and its influence even have a domino effect on other German car company.
German car is known by the world as one of the best car manufacturers in the world. In fact, Forbes launched three of the 10 biggest and best car manufacturers in the world dominated by the German car manufacturer. The cars from Volkswagen Group also recorded master the German car sales markets worldwide with a figure of US $ 411 billion.
However, a finance professor from INSEAD, Theo Vermaelen believes that what is being faced by Volkswagen at this level have a limited impact. Will affect systemic impact if a lot of other German car companies proved to have violated the same as the VW.
"If there is no other company is doing, then destruction could still be limited. However, if a lot of other companies that follow such as Audi, it would be a big problem for the car industry in Germany. Even for the German economy overall," said Theo, as reported by CNN on Tuesday.
For now, the other German car companies like Mercedes-Benz, and BMW can still breathe.
Economist of Berenberg, Holger Schmieding argued though diesel car production and exports decline, but will not reduce by more than 0.2 percent of the German's .GDP overall. "Demand for non-diesel cars will go up and will cover the decline in diesel cars," he said.
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