Europe: German chancellor Merkel backs the country’s automotive industry

#hashtags: #Volkswagen #Volkswagen AG #Europe #Wuppertal

German Chancellor Angela Merkel decided to take a stance and on Thursday warned against shaming the entire German automotive industry even as the Volkswagen diesel emissions scandal continues to unfold. She said the scandal that has engulfed Volkswagen AG, the largest automaker in Europe and the biggest in the world in terms of sales after the first six months of the year, should not be used to pillory the entire German car industry. She was speaking in the western city of Wuppertal, adding the Wolfsburg-based company should openly detail its misconduct quickly in order to help protect the many jobs across the industry that depend of its wellbeing. “What happened at VW, … is wrong and it needs to be tackled and clarified in the fastest manner possible,” she commented during a meeting of her Christian Democrat (CDU) party. “It can only be in everyone’s interest that this business is sorted out because the jobs of many people must be secured.” Merkel has also pledged support from her party for the scandal-lade industry, which has been hurt by VW’s admission it had rigged US diesel emissions tests and possibly also in Europe. Meanwhile, public prosecutors in Germany have raided the VW headquarters in Wolfsburg and other places on Thursday while the top US executive Michal Horn was also called in the US to testify under oath in front of a Congressional panel. VW’s manipulation of diesel emissions results has sparked the biggest crisis in the 78-year history of the company. Via Reuters