Thursday, August 18, 2016

VW: Prevent suppliers ensures trouble – Handelsblatt

The VW Wolfsburg

a dispute with a supplier leads to a bottleneck in the VW production

(Photo: dpa )

Wolfsburg / Braunschweig The dispute with a supplier grows in Volkswagen to a disaster out. Because a trader no longer delivers parts to the assembly lines, the hard rocked by scandal exhaust Wolfsburg-based group a total of more than 20,000 employees have to send in forced leave, according to agency reports. For parts of the production line in Wolfsburg, Kassel and Zwickau short-time work should be logged, Reuters reported, citing a person from the vicinity of VW. Also dpa reported plans for short-time work in this size.

But in the main factory Wolfsburg the extension of short-time working will affect more than 10,000 employees. Details are currently being discussed with the Federal Employment Agency, Reuters reports. On Thursday 8000 employees of the Passat plant in Emden goods by VW, gone in short-time work because purchased parts missing.

A VW spokesman said, short-time work is a plausible means to respond to the shortage of supply. However, this is not yet decided. Background is a dispute with the Wolfsburg corporate group Prevent. Two daughters of the consortium have set the supply of components to VW. The shortages made the group on the stock exchange to create: The share lost in a rugged environment around one percent

Diesel gate is always more expensive

  • The agreement with hundreds class action plaintiffs, authorities and US states cost Volkswagen to 15.3 billion dollars (equivalent to about 13.6 billion Euro). The majority is attributable to the repurchase of 475,000 diesel cars rigged with 2.0-liter engines, are reserved for the ten billion dollars. The actual cost will depend on how many same-seater return their car and whether the US authorities authorize a conversion.

  • By US Department of Justice is currently negotiating a pay a fine because of the exhaust manipulation. The “Wall Street Journal” reported that the German carmaker would a sentence of more than 1.2 billion dollars aufgebrummt. Analysts expect a sum between one and three billion euros. Some US states also want civilly seek to enforce higher damages because they are not satisfied with the comparison.

  • No agreement there is so far for around 85,000 larger vehicles with three-liter diesel engine. VW is confident that a repair can be done. The end of August, the District Court in San Francisco will be kept informed of the progress of the negotiations. If Volkswagen will be forced to repurchase these expensive cars that billions more would devour. Jürgen Pieper at Bankhaus Metzler estimates the cost at up to two billion euros.

  • A big chunk is also the conversion of approximately 8 , 5 million diesel cars in Europe. Estimates range from good one to three billion euros, which is expected to cost the. The auto analyst Arndt Ellinghorst of Evercore ISI also expects to shrinking market shares of Volkswagen and lower prices will be felt as a result.

  • compensation of the customers in Europe VW rejects still, although demands for a similar comparison as numerous as in the US. Should this nevertheless be payable, the Volkswagen could financially break the neck, experts fear. Analyst Pieper expects a loss of value in the order of EUR 500 per vehicle. “It is difficult to say whether VW is yet to pay a token amount at the end.” Industry expert Ellinghorst considers it likely that customers in Europe will see any money.

  • Worldwide, Volkswagen sees also with multibillion-dollar lawsuits filed by investors and small shareholders faced. The holders of shares and bonds throw Volkswagen claims to have informed too late about the extent of the gas scandal and want to enforce a compensation for losses. There is now before the Landgericht Braunschweig 170 damages claims of just under four billion euros.

  • the droves lawyers Volkswagen worldwide because of diesel scandal busy also devour money. The car expert Pieper goes up to one billion euros from his colleague Ellinghorst estimates the legal fees to several hundred million.

    Pieper expects the diesel Volkswagen scandal will cost a total of around 25 billion euros. Ellinghorst expects total costs of a similar amount. The experts believe the Group because of its reserves and the financial strength to be able to lift it. Only from 50 billion euros to Volkswagen takes part with investments, says Pieper.

    Source: Reuters

The case shows, according to experts, the devastating effects can have a delivery stop to the complex production processes for automakers, which provide suppliers directly to the bands. If a part is missing because a supplier fails or locks up, the whole production falters. At VW, it is the lack of seat covers and transmission housing that relate to the Wolfsburg of the Prevent daughters Car Trim and ES Automobilguss.

Car Trim from the Saxon Plauen sends for some time no seat covers more at the VW subsidiary Sitech who then manufactures the car seats for VW models. Therefore, VW reported on for the majority of the workforce in Emden short-time working. In the VW plant with a total of approximately 9,000 employees the midrange model Passat running in different versions from the band, including the CC. On average 1250 vehicles per day are produced there.

When Landgericht Braunschweig Volkswagen had last week an injunction obtained – the court found, Car Trim had to deliver again. About this decision, the company did, however, ignored, told VW. Prevent Car Trim has adopted only in April. In June had the Chemnitz regional newspaper “Free Press” reports a wave of layoffs in the Saxon company.


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