Volkswagen 'Deeply Sorry' About EPA Violation
Volkswagen's chief executive apologizes for emissions scandal and promises to 'do everything necessary in order to reverse the damage this has caused.'

Photo courtesy of Volkswagen
BERLIN — Volkswagen's chief executive said the company is "deeply sorry" and plans to fully cooperate with the U.S. Environmental Protection Agency in its investigation of the automaker's use of software to get around federal emissions regulations.
Volkswagen is taking the findings from EPA and the California Air Resources Board "very seriously," according to a statement from Martin Winterkorn, chief executive of Volkswagen AG.
"I personally am deeply sorry that we have broken the trust of our customers and the public." Winterkorn said. "We will cooperate fully with the responsible agencies with transparency and urgency to clearly, openly, and completely establish all of the facts of this case."
On Sept. 18, the EPA accused Audi and Volkswagen of using a software algorithm in its four-cylinder diesels to circumvent federal emissions standards. The cars from the 2009 to 2015 model years could detect when the car is undergoing official emissions testing and turn on full emissions controls only during that test. This would violate the Clean Air Act.
The allegations cover about 482,000 models, including the Jetta TDI, Beetle TDI, Golf TDI, and Audi A3 TDI. The Passat TDI is affected from the 2014-MY and 2015-MY.
Volkswagen has also ordered a separate external investigation into the matter.
"The trust of our customers and the public is and continues to be our most important asset," Winterkorn said. "We at Volkswagen will do everything that must be done in order to re-establish the trust that so many people have placed in us, and we will do everything necessary in order to reverse the damage this has caused. This matter has first priority for me, personally, and for our entire Board of Management."
More Auto Finance

Automotive Consumers Sink Further in Debt
Most financing metrics hit records in the second quarter as more buyers locked themselves into long terms and high monthly payments.
Read More →
Porsche Financial Services Shifts Structure
After 36 years with Porsche, the Financial Services Chief Financial Officer Konrad Riedl is retiring, and the department is realigning its management structure.
Read More →
Tariffs Could Raise Insurance Premiums
As U.S. import tariffs affect repair costs, consumers might find it more affordable to replace a damaged vehicle, according to recent Insurify tariff analysis.
Read More →
Smaller Loans, Longer Terms
The youngest generation of car buyers is more likely to finance less expensive vehicles, more than half of generation Z consumers borrowing less than $25,000.
Read More →
New Cars a Tad More Affordable
May averages show that combined circumstances gave auto consumers slightly better buying power for the month, though average prices were up year-over-year.
Read More →
First-Quarter Sees Long Auto Loan Growth
Experian data show more consumers are tapping the method, along with refinancings, to afford buying. Meanwhile, subprime borrowers are getting more access.
Read More →
Mastering Credit Friction
In this video, Josh Krach explains how to turn credit friction into an advantage.
Read More →
April Less Affordable
Based on prices, reduced incentives and slower household income growth, consumers found it more challenging to buy new last month, Cox Automotive reported.
Read More →
Auto Lenders, Consumers on a Tightrope
April borrowing data shows that more consumers are bending over backward to buy vehicles, though subprime lending cooled off for the month.
Read More →
Toyota Financial Services President Replaced
Scott Cooke has served in various roles with Toyota Financial Services for over 20 years, including president and CEO, which he retires from on June 30.
Read More →