VW CEO says remedies for emissions cheating coming soon
In his first U.S. press conference since being named CEO of Volkswagen, Matthias Mueller said he planned to submit a "package" of solutions to remedy the company's deliberate installation of devices that disable emissions controls in 600,000 diesel vehicles in the U.S.
Volkswagen also installed the devices in millions of its vehicles globally.
"It is not only our cars we have to fix," Mueller told a crowd of automotive reporters Sunday night, "we know we have to repair our credibility, too."
Mueller's ascension to the top post at VW was one of many changes at the company since it was caught thumbing its nose at U.S. and global emissions regulations.
But officials at the U.S. EPA grew increasingly frustrated at Volkswagen's slow pace of responding to the crisis. The U.S. Justice Department last week sued Volkswagen on behalf of the EPA, after the agency failed to reach a settlement with the company, including fines VW must pay.
The remedies that Volkswagen may propose could be unpalatable to some if they involve installing new hardware. The automaker may also propose buying back vehicles.
Analysts at the Cox Automotive event in Detroit on Sunday said so far, Volkswagen customers are proving extraordinarily loyal to the company and its brands.
But they said Volkswagen could lose that loyalty if it fails to come up with a comprehensive plan.