Page 27 - European Energy Innovation - Winter 2015 publication
P. 27
Winter 2015 European Energy Innovation 27


The second point to establish is 6LJQLƓFDQWO\RYHURIWKH CO2 emissions16. Meanwhile,
that this story is clearly going to %UDQG)LQDQFHKDVHVWLPDWHGWKH
be expensive. Really expensive. respondents believed other loss of value of the VW brand to
Ultimately, how expensive is likely carmakers were also probably be of the order of $10 billion17,
to be measured in company manipulating emissions tests, while the publication Industry
balance sheets and share prices, Week assesses the potential
but it is the customers who drive DQGWKDW9:ZDVMXVWWKHƓUVWWR loss to the value of “Made in
Germany” to be as high as $191
WKHVHƓJXUHVDQGRIFRXUVHWKH be found out. What is clear is that billion18&RORVVDOƓJXUHVLQGHHG
and it is salutary to remind
cars; or not, if they so choose). VLJQLƓFDQWUHSXWDWLRQDOGDPDJH ourselves that these dollar sums
A recent poll indicated that 71% contain no calculation of the
of 8,500 users on a motoring has already been sustained by environmental consequences
magazine website now trust the the VW brand in particular; and of the scandal; costs that will
Volkswagen brand less than they will be sustained by German eventually be borne by all of us.
did before14. Conversely, a UK engineering in general; and
newspaper has reported much possibly ultimately by wider 7KH*HUPDQSROOƓQGLQJV
higher brand loyalty among industry across Europe. Indeed, in particular require a third
Germans and a belief that the in addition to its previously-
scandal has been exaggerated15. announced €6.5 billion, VW has
added a further €2 billion to cover
the “economic risk” attached to
the more recent revelations about
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