VW Worried About TDI Talks Following Election

Volkswagen’s top brass is concerned about the state of their TDI deal and the American car market in general following Donald Trump’s election last night.

“The election of Donald Trump causes me great concern,” said Stephen Weil, governor of Lower Saxony and VW supervisory board member, in a statement.

The concern is twofold: Firstly, with the political changeover in Washington, completing the final steps of the TDI settlement could be delayed or disrupted.

“I hope the election result won’t have more negative consequences for Volkswagen,” said Matthias Mueller at a conference Wednesday. “I think we’re at a point where a ‘consent decree’ could be reached, but that’s the Department of Justice’s decision, not mine.”

Secondly, Audi, Volkswagen, and other German manufacturers are coming together this morning to express their concerns over the president elect’s promises to keep auto manufacturers from moving to Mexico, as many have recently broken ground or opened plants in the country.

“It is to be feared that the United States under a new President, just like China, will mainly focus on their own economies, at the expense of international trade flows and relationships,” the VDA, Germany’s auto industry association said in a statement today.

“Trump’s first task has to be to rebuild the bridges he burned in the past weeks and carry out his duties with prudence and care,” says Weil.

[source: Automotive News]