I bought my first car in May 2015. It was (and is) a sleek, black, Volkswagen Jetta 2008. I come from a family of VW owners and was stoked to be buying a reliable car that many of my friends and family had had a great experience with.
When I heard about the VW emissions scandal this past September, my immediate thoughts were, "I still love my Jetta". I am a bit biased, but maybe these thoughts would be different if my car was a diesel engine, and therefore, I was directly affected by the scandal. Who knows? What I WILL say, is that it is still important to me as a consumer to invest in a company that is an ethical and honest one.
My view of the company as a whole has not changed, but rather, I have developed an understanding of how one person (or several) can misuse their leadership and management role for their own personal (and sometimes greedy) desires.
See this New York Times article for a good read on the route to recovery that VW is making after news of the scandal:
Volkswagen, Hit by Emissions Scandal, Posts its First Loss in Years
Yes, VW just reported its first quarterly loss in YEARS.
Yes, many VW customers are outraged.
Yes, VW is recalling and repairing about 9 million cars in order to repair the illegal software.
Yes, VW still cannot quantify the effects of the fallout due to the scandal awareness happening in the last two weeks of the third quarter.
Yes, there is a possibility of job cuts due to the increased spending that VW will have to make on the scandal and new projects.
But, there is a light at the end of the tunnel, and VW will have to work for it. New CEO, Matthias Muller, has a new vision in sight for the company: VW will no longer be focused on becoming the world's largest carmaker. He is set on figuring out the details of the scandal and learning from them. The previous CEO, Martin Winterkorn, had a relentless drive for growth, and, perhaps fell into the pattern of cheating to get to the top of the market. Muller's statement marks a clear break from Winterkorn and his management style.
This scandal has hurt VW's reputation and financials, and as time goes on, they will feel the full force of the affects. VW has been a very profitable company in past years, which has helped to mitigate this scandal. As Muller has stated, "The financial burden from the diesel crisis is enormous, but manageable."
As a customer of VW, I am not turned away. BUT, I would like to see them not only fix this current issue with the diesel engines and the mitigation of angry customers, but also to instill a game plan going forward of preventing this issue from happening again and gaining their trust and reputation back.