let me start off by saying my first car was a volkswagen, a '76 volkswagen beetle. i learned a lot about cars and internal combustion engines. i could take it apart and put it together and it actually continued to work. it had a legacy as the people's car, to be people-friendly. i loved that car, loved it a lot, not so much as to call it brad, but i loved that car. but i trusted the car to get me around. and i trusted that volkswagen would continue to build a reliable car. that word, "trust," alone, as you know, is the key factory in building customer loyalty. and that trust is what helped build volkswagen, because we believed the company looked out for customers first. then just three weeks ago, car owners around the world were shocked to learn that volkswagen ag, the world's largest automaker, admitted it installed software for years in millions of diesel models that effectively defeated emissions controls during driving. this followed the epa's public announcement that it had sufficient evidence to support allegations that vw was cheatingen icheating on its emiss

my daughter drives a volkswagen beetle. my former stepdaughter drives a volkswagen jetta. i don't think they're diesel. i think their gasoline powered but they are both volkswagen. i've always had the highest respect for volkswagen. i think it's a fine company engineering lies and product wise. but i must tell you, it is extremely disappointing to look at, i don't hav know the right d to use, and immorality, corporate decision to knowingly and willfully cheat on u.s. emissions standards. i mean, volkswagen is one of the premier name brands auto manufacturers in the world. and it's a reputation that has been gained over the last 50 or 60 years. and to have a company of your stature knowingly and willfully make a decision at the highest levels of the company, to put a software program in your products that are meant intentionally to deceive or to cheat on u.s. emissions standards to me is, i wouldn't have believed it if it wasn't actually proven. so my first question to you is, i'm told that this was a decision made in germany at the corporate level, is that correct? >> two

did we develop technology at volkswagen, did we develop a defeat device at volkswagen? these are questions that are just going to have to be answered. i think we are doing this hearing prior to the time that your document production deadline has expired. so we recognize that you are here voluntarily. all of us represent dealers, consumers, suppliers and their lives and livelihoods are extremely important to us. and that's what we have to keep first and foremost. i yield pack, mr. chairman. >> thank you. and the chair recognizes the gentleman from texas, mr. green. >> thank you, mr. chairman. for our witness, we have other subcommittees going on. you will see members coming in and out during the day. when i first heard about it, i was amazed that a company that's as great as volkswagen could let this happen. even to the executives who didn't know. the image of the country in europe and around the world is is so great. our committee wants to get some answers. i would like to understand more about volkswagen's own investigations and your efforts to find the cause of the de

germany, or volkswagen u.s.? mr. horn: the software applications management for the engines and the exhaust systems are being done in germany. the engine and drive time department was the research and development division. bothe epa and carb described a series of presentations or discussions with vw in the wake of the research. who from vw was interacting with epa and carb? that is something i would have to check. maybe this is also the records provided to you next week. >> what did vw america understand about the cause of the higher emissions? what did you and your team at vw america know was going on? mr. horn: that they had to my understanding validated those test results and are developing software fixes. versions,ifferent which i didn't understand to be very honest. also, as i said, all these things are vetted through this product safely committee, which is also looking at this. in this context, i trusted those guys and those processes, that every living -- that everything was according to the books. knew th

volkswagen was forced to come clean. and they ultimately confessed that they had installed a defeat device and diesel cars designed to circumvent epa emission standards for certain pollutants. we know this defeat device sets when they were undergoing testing. and inserted control systems. and we know that during normal road use, the controls were reduced. and the car for producing up to 40 times more nitrogen oxide standards.owed by we know half a million cars in the u.s. might be affected by this. mr. horn, i'm glad you came to testify here. while we know all of the things i just talked about, there's a lot more things we do not know. and we need answers for them. for example, volkswagen has not revealed how the device affects the engine. white was installed, and how it was able to evade the tests? you have not revealed when and how the engines equipped will be fixed. whether the fix will affect fuel economy or performance of the vehicle. you have not revealed what volkswagen told regulators over the last year as epa an

volkswagen was forced to come clean. and they ultimately confessed that they had installed a defeat device and diesel cars designed to circumvent epa emission standards for certain pollutants. we know this defeat device sets when they were undergoing testing. and inserted control systems. and we know that during normal road use, the controls were reduced. and the car for producing up to 40 times more nitrogen oxide standards.owed by we know half a million cars in the u.s. might be affected by this. mr. horn, i'm glad you came to testify here. while we know all of the things i just talked about, there's a lot more things we do not know. and we need answers for them. for example, volkswagen has not revealed how the device affects the engine. white was installed, and how it was able to evade the tests? you have not revealed when and how the engines equipped will be fixed. whether the fix will affect fuel economy or performance of the vehicle. you have not revealed what volkswagen told regulators over the last year as epa an

i am a client of volkswagen. i have a turbo diesel which i bought after european standards fought me to get the euro 5 motor because the others were too pollutant. and they had been going through problems for several years. so i had to go to volkswagen. but volkswagen is the first and foremost car manufacturer in the world at the moment. but if mrs. merkel, who commands the whole globe, i wonder if she shouldn't explain how this works. now there's a problem. merkel gets going to defend volkswagen. can she tell me what's happened? did they know or did she know what was going on? did she or not? i think in the history of eur e europe -- i don't think your t-shirt is apt for this. you've got to bear in mind, you have to be attentive to what you are doing. your t-shirt is not apt for this cycle at all. the speaker has now stopped. >> translator: one minute. >> translator: the volkswagen scandal is both an economic one and a mental one but also political one. we need to find out the number of cars circulating in the e

are as well as porsche propagators for the volkswagen group. -- our profit getters for volkswagen group. jonathan: these numbers are not good to help. the stock is down by 2%. that is the initial knee-jerk reaction. nevermind the scandal, the company needs to have a review now. what takes place? what the expected happened? honcho -- hans: they need to figure out what their fuel oxygen mix will be on technology. among germannse manufacturing's -- manufacturers that when toyota shifted -- that bet may still play out. with regulatory risk. they need to figure out what their strategy is in terms of what kind of engines they are going to be building. it is good to be all electric. that is a bit of a test. dietz speaking in toyota earlier today, he did not bow, but he did apologize. have a listen. >> on behalf of our inside properties, i would like to apologize. havegize for actions that went against everything our companies and its people stand for. hans: you may be reading the numbers on your bloomberg terminal. do we have anything for third-quarter revenue? jonathan: a series of negative h

volkswagen's u.s. chief who weeks ago said the automaker screwed up is heading to capitol hill to face a house panel at a hearing on the emissions scandal. we'll have that live in an hour. as we get closer to this thursday. a lot more "squawk on the street" right after this. (patrick 1) what's it like to be the boss of you? (patrick 2) pretty great. (patrick 1) how about a 10% raise? (patrick 2) how about 20? (patrick 1) how about done? (patrick 2) that's the kind of control i like... ...and that's what they give me at national car rental. i can choose any car in the aisle i want- without having to ask anyone. who better to be the boss of you... (patrick 1)than me. i mean, you...us. (vo) go national. go like a pro. [get up to 48 monthsw interest-free financing on tempur-pedic. save $300 on beautyrest and posturepedic. or choose $300 in free gifts with stearns & foster. the triple choice sale ends soon at sleep train. update on the company and it is also launching a site called alibaba defined designed

who have volkswagen proposed the recall? >> the technical engineering department in -- in conjunction with the product safety committee worldwide. >> what explanation was given to consumers about why december 2014 recall was necessary? >> i would have to look into the documents on what reproach to those consumers. i don't know. >> you will provide that to the committee please. >> its public anyhow. >> what explanation was given to regulators about why that december 2014 recall the necessary? >> that something will will have to provide in the document. >> what fixed it the volkswagen organization implement for cars brought in under that recall? >> new software versions have been brought into the onboard steering units. >> duet volkswagen develop that? >> the engine and driver development software treatment department in germany. >> and did they know at the time that it would not work? >> i don't know that. my understanding was that it would work. otherwise the product safety committee would not have her release this version f

i had to go to volkswagen. volkswagen is the first and foremost car manufacturer in the world at the moment. if mrs. merkel, who commands the whole globe, i wondered she should explain to me how this all works. could she come here and tell me what has happened? did she not know what is going on with volkswagen? did she or not? i think, in the history of europe -- >> i don't think that the t-shirt you are wearing is apt to this. apt for thisis not at all. >> dear colleagues, the is anagen scandal environmental one but also a political one. we need to find the number of cars circulating with this software and we are also wondering whether volkswagen was the only company that installed such software and what measures are we to take to this does not happen again. despite the fact that there are connections between volkswagen and the german government. is supportingkel the car industry, but perhaps that might mean that they are also supporting companies that are deceiving the european citizens and the european insti

let me start off by saying my first car was a volkswagen. it was a '76 volkswagen beetle. i could take that thing apart and put it back together, and it actually continued to work. i did nearly all the maintenance be myself because the beetle and the volkswagen had a legacy as the people's car to be people-friendly. pleasure i loved that car, loved it a lot. not so much as to call it brad, but i loved that car. [laughter] but i trusted the car to get me around, and i trusted that volkswagen would continue to build a reliable car. that word "trust" alone, as you know, is the key factor in building customer loyalty. and that trust is what helped build volkswagen, because we believed it's a company that looked out for customers first. then just three weeks ago car owners around the world were shocked to learn that volkswagen ag, the world's largest automaker, admitted it had installed software in millions of its diesel models that defected e mugses controls during routine driving following the public announcement on september 18th that there was sufficient evidence to support

. >> who at volkswagen developed that fix? >> the engine and draft development software after treatment department in germany. >> did they know at the time that it would not work? >> i don't know that. my understanding was that it would work and otherwise to work. but product safety would have this version for application in the market. >> well, i thank you for your responses. i look forward to the additional information you owe. again, i would say on behalf of the consumer of the 20th congressional district of new york, around the world impacted by this. deserve a sound explanation and a fix that will respond to the environmental damage and consumer fraud. >> thank you. >> as one final question real quick. >> first mr. chairman, i ask unanimous consent to put mr. welch's document into the record. i have one last question mr. horn. you told a bunch of us on this committee, after that west virginia university study in may of 2014, everybody was running around trying to figure out what was going on with these cars and why there

so i had to go through volkswagen. but volkswagen is the first and foremost car manufacturer in the world at the moment. if mrs. merkel, who commands the whole globe, i wonder if she wouldn't explain to me how this all works. merkel gets going to defend volkswagen. could not she tell me what happened? did she or did she not know what was going on with volkswagen? did she or did she not? i think in the history of europe, mr. bownano is interrupted by the president. i don't think your t-shirt which you're wearing is apt for this. you've got to bear in mind, you have to be attendant to what you are doing. your t-shirt is not apt for this h hemi cycle at all. the speaker is now stopped. >> translator: one minute. >> translator: dear colleagues. the scandal is both an economic one but also a political one. we need to find out the number of cars circulating in the european union. i also wonder whether volkswagen is the only company that installed such software and what measures we can take to make sure this does not happen a

volkswagen was forced to come clean. and they ultimately confessed that they had installed a defeat device and diesel cars designed to circumvent epa emission standards for certain pollutants. we know this defeat device sets when they were undergoing testing. and inserted control systems. and we know that during normal road use, the controls were reduced. and the car for producing up to 40 times more nitrogen oxide standards.owed by we know half a million cars in the u.s. might be affected by this. mr. horn, i'm glad you came to testify here. while we know all of the things i just talked about, there's a lot more things we do not know. and we need answers for them. for example, volkswagen has not revealed how the device affects the engine. white was installed, and how it was able to evade the tests? you have not revealed when and how the engines equipped will be fixed. whether the fix will affect fuel economy or performance of the vehicle. you have not revealed what volkswagen told regulators over the last year as epa an

epa sent a notice of violation, nov of the clean air act to volkswagen including volkswagen a.g., audi a.g. and volkswagen group of america alleging four cylinder and audi diesel cars sold there the u.s. from model years 2009 to 2015 include software that circumvents epa's emission standards. volkswagen manufactured and installed software in the electronic control module of these vehicles that sensed when the vehicle is being tested for compliance with epa emissions standards. put simply, these cars contain software that turns off or reduces the effectiveness of emission controls when driving normally and turns them on when the car is undergoing an official emissions test. this is known as a defeat device. this design feature results in the cars emitting up to 40 times the emissions that are allowed to ensure public health is protected. these devices contain essentially a switch that senses whether the vehicle is being tested or not based on various inputs, including the position of the steering wheel, vehicle speed, the duration of the engine's operation and barometric pressure. the n

volkswagen was forced to come clean. and they ultimately confessed that they had installed a defeat device and diesel cars designed to circumvent epa emission standards for certain pollutants. we know this defeat device sets when they were undergoing testing. and inserted control systems. and we know that during normal road use, the controls were reduced. and the car for producing up to 40 times more nitrogen oxide standards.owed by we know half a million cars in the u.s. might be affected by this. mr. horn, i'm glad you came to testify here. while we know all of the things i just talked about, there's a lot more things we do not know. and we need answers for them. for example, volkswagen has not revealed how the device affects the engine. white was installed, and how it was able to evade the tests? you have not revealed when and how the engines equipped will be fixed. whether the fix will affect fuel economy or performance of the vehicle. you have not revealed what volkswagen told regulators over the last year as epa an

did we develop technology at volkswagen, did we develop a defeat device at volkswagen? these are some of the questions that will have to be answered. mr. chairman, i appreciate mr. horn being here. i think that we are doing this hearing prior to the time that your document production deadline has expired. so we recognize that you are here voluntarily and it is your sincere effort to comply with the wishes of the committee. but let me just say all of us represent dealers, consumers, suppliers, and their lives and livelihoods are extremely important to us. and that's what we have to keep first and foremost. i yield back. >> thank you. the chair recognizes the gentleman from texas, mr. green. >> thank you. and for our witness, we have other sub committee its going on, so you'll see members come in and out during the day. when i first heard about it, i was amazed that a company that is as great as volkswagen could let this happen. even to the executives maybe who didn't know because the image of the company not only in our country but in europe and around the world is so gr

volkswagen's top u.s. official will tell us that he was aware of the emissions in 2014. he was alerted after the publication of west virginia university's study that found that diesel models admitted far more during driving conditions than allowed during federal standards. now earlier, we heard from the imf director of market. his message to the u.s. federal reserve, there is no shame in waiting to hike rates. for the latest minutes released today, former treasury secretary larry summers has said that holding off on a rate rise is exactly the right thing to do. larry: i have been very clear. reason that there is no to raise rates. until you see the whites of inflation's eye. i look at the data out there. i do not see inflation as close to the horizon. i think we have to be focused on making sure that we're doing everything we can to grow this economy. i talked before about public investment. there is also a lot we can do to spur private investment. i think government does the to recognize that confidence i

well, no, badn: news for volkswagen. you should not forget that volkswagen sells 4 million cars per year in china. if toyota is ahead of volkswagen now, it is because of china. not because of the scandal. as in in the fourth quarter and the impact of the scandal. we spoke to drivers and said after this scandal, are you still likely to buy a volkswagen. manziel we will have to leave it there. time has run out. andlas meilhan at frost sullivan. -- manus: we will have to leave it there. ♪ i just had a horrible nightmare. my company's entire network went down, and i was home in bed, unaware. but that would never happen. comcast business monitors my company's network 24 hours a day and calls and e-mails me if something, like this scary storm, takes it offline. so i can rest easy. what. you don't have a desk bed? don't be left in the dark. get proactive alerts 24/7. comcast business. built for business. manus: welcome back to "countdown. 7:30 in london. these are the stories you need to know this morning. a law and justice p

and counterparts around the world have been defrauded by volkswagen. the company's word is not worth a dime. >> we are determined to make things right. >> this includes accepting the consequences of our acts. providing a remedy, and restoring the trust of customers, dealerships, public. >> people shouldn't have to wait to get the fuel economy, low emissions and performance that they already paid for. if they wanted, every volkswagen clean-diesel vehicle owner should be able get their money back, all of it. >> let me be clear, volkswagen takes full responsibility for our actions and we are working with relevant authorities in a corporate way. >> to protect the public, congress was clear in work to protect consumers in abuses from automakers, including steep fines and criminal prosecution. >> vw betrayed a nation. a regulation of nations and suppliers, and to clean it up or get off the road. >> i'm not always convinced of the value of some of these hearings. joining me from washington is lisa stark. did we learn anything we didn't know from today's heari

chael: this is not a blow to volkswagen globally, but maybe a beginning of the end for volkswagen in the u.s. vw is struggled here for two decades, it pinned all its hope on the new "clean" diesel, as it called it. it has turned into a disaster. if diesel goes away, volkswagen will be forced likely to leave the u.s. market. rishaad: similarly, the audi scandal and the unwanted acceleration in the 1980's. can this parallel be drawn? michael: yes, it took them years to recover from that debacle. the good news for volkswagen is that the u.s. is only a small share of the total mobile sales. china is the big moneymaker for them, almost 40% of global sales. they don't sell any diesels there. they are still in good shape in china, in fair shape in europe and south america. rishaad: we talk about dieselgate, or vw-gates, as it's being penned on twitter. how did this software work? how did it cheat the system? can you explain that for people who may not know? michael: in layman's terms, all vehicles will go through testing at the u.s. epa. theyg that testing period, will measure how much emis

and more changes at the top of volkswagen. the german car maker has a new chairman but many are wondering if he's the right man to help isola mission scandal behind it. we will be back in one minute. stay with us. lara: nice to have you back with us. you are watching dw news. these are top stories where following now. russian ships have launched missiles at islamic state titles -- in syria. at the same time, they have begun a offensive against insurgents. chancellor angela merkel warned the eu that it is in danger of succumbing to nationalism as it tries to cope with the thousands of migrants arriving every day for two business now and besides a new ceo, volkswagen has a new chairman for the -- new chairman. guest: and he is already feeling the heat. angela merkel weighed in on the scandal, saying what happened needs to be cleared up quickly, but the freshly elected new volkswagen chairman said the cleanup would take some time. nobody is served by speculation or vague progress report. it also emerged that volkswagen has appare

and counterparts around the world have been defrauded by volkswagen. >> volkswagen's u.s. boss feels the heat from american politicians over the cheating scandal. more on that. stay with us. >> if they get a little dirty, so what. >> we have shackles, we have a spit bag. >> they're still having nightmares. >> if you can't straighten out your kids... >> they're mine. >> this is the true definition of tough love. >>>welcome back. a recap of the top stories on al jazeera. rival factions in libya agreed to form a national unity government. they've been rival governments since 2014. u.n. sponsored talks have been ongoing for months. >>> russia denying reports that four missiles fired at syria crashed in iran. they were launched on russian warships in the caspian sea on wednesday. >> and binyamin netanyahu said strong steps have been taken against those inciting hate red. palestinians are angry at what they say is israel's intention to change the status go at the al-aqsa compound. >> despite appeal for calm, tensions are rising across the west bank. we have this report from rama

volkswagen abused this test method. computer software in volkswagen engines sensed when the cars were tested on a rig. with this inspection mode activated, the software instructed the car to use full emissions control. out on the road, it was a different story. when the car was running normally, the software switched to driving mode. in this state, emission controls relaxed. as a result, volkswagen supposedly clean diesel engines emitted 40 times the legal limit of emissions. one reason the cheating surfaced was because of improving testing technology. the new systems enable inspectors to check cars on the road. researchers on clean transportion or icpt exposed the volkswagen fraud. group member professor says car emissions need a thorough overhaul. >> translator: in addition to continued testing in laboratories, we need to measure the amount of gas emitted from the car when it actually runs on the road. we need to do this to make sure car emissions don't significantly exceed legal limits. i hope the introduction of thi

we at volkswagen take full responsibility for our actions. >>reporter: but house of representatives was looking for more than sorry. >> vw is trying to get the united states of america to believe these are eye couple of rogue engineers? i reject that. either your entire organization is incompetent when it comes to trying to come up with intellectual property and i don't believe that for a second or they are complicit. >>reporter: emissions controls on or off to allow it to pass strict emissions tests meaning on the road volkswagen cars would not have met emissions standards. in germany volkswagen invaded headquarters seizing documents and computers. volkswagen says it's still working on a fix to the problem but it could be two or more years before it comes up with a solution for every vehicle. >> i think the losses are depending on the fines we'll get. >>reporter: the company also faces punishing fines and the prospects of claims by consumers who feel they've been lied to and cheated. >>> eu ministers are meeting to discuss europe's ongoing r

volkswagen's top u.s. official will tell lawmakers later that he was first made aware of a possible emissions noncompliance issue with the company's diesel engines in spring 2014. michael on will say that he was alerted to the publication of a study which found diesel models passatvw jetta and emitted more pollution under driving missions than allowed under emissions standards. enc surged 8% in extended trading overnight as it is said to be in talks with pc maker dell over a possible combination of the companies. emc has a market valuation of almost $50 million. dell was taken private back in 2013. what the markets are doing, what's going on? mark barton, over to you. mark: the rally has peter. that rally in the msci saw a gain of 8%, the biggest rally for four years, that six-day rally. emerging market asian stocks fluctuated between gains and losses. stocksn fluctuating as well. look at the shanghai composite. it rose by 3% today. there's some disappointment that china didn't rise more. , the china hong

in the hot seat, volkswagen u.s. chief gets grilling. he didn't know about the emission cheating devices until weeks ago. german prosecutors raid vw headquarters. welcome to the program. are they being pushed out? sepp blatter and michel platini have been provisionally suspended for 90 days by the organizations ethics committee. both men are banned from caring out the official functions. the move comes after swiss prosecutors opened an investigation into a payment that sepp blatter made to michel platini in 2011. >> sepp blatter was his most powerful back in may when he was elected a fifth time despite corruption allegations. his empire has crumbled since then. the ethics committee decision means his career officially over. he cannot even visit a football match. the german president spoke. >> ifo must start again as far as personnel is concerned. the future can only be shaped without sepp blatter. --fifa must start again as far as personnel is concerned. the new interim head of fever has also been dashed of fifa --fifa has also been accu

steve: five volkswagen brands and to volkswagen dealerships. me, tell us ofon reaction once you find out they were cheating? steve:. . our customers are the most important asset, along with employees. to purposely come it a fraud, to perpetuate it for all of these years became a culture, culture exposed at being silent and it is not being kind. pimm: the kind of communication have you had with the head germany? wolfsburg, steve: i have had no communication. our local field people receive the most and information coming out but there has been no reach out from germany. i have asked for a meeting to speak to them and i would like to know what they were thinking because i want to know who i am in business with. pimm: in business on one hand by selling volkswagen automobiles and also in the business of standing up for your customers who come in to purchase automobiles. you received a letter, kelly say that this and anecdotal -- can we say that is an anecdotal piece of evidence that you see as widely shared by your customers? received a letter from

. >>> today's volkswagen u.s. chief testifies on capitol hill where he will apologize for volkswagen's efforts to defeat the emissions testing. don champion has our report. >> reporter: embroiled in the cheating scandal, michael horn will face tough questions on capitol hill today. the ceo of volkswagen of american is expected to apologize for the company's use of sophisticated software that helped it beat u.s. pollution tests. about 11,000 diesel volkswagen vehicles were fitted with the so-called defeat device. on the road, the cars emitted 10 to 40 times the amount of pollutant legally allowed in the state. horn, who has apologized for the scandal before, will testify today that he knew about possible emissions noncompliance back in 2014, a year before the company informed regulators about the issue. the scandal has taken a toll on company stocks and volkswagen has already set aside billions of dollars for legal costs and fines. still, the company's newly elected board chairman declared wednesday, it would emerg

testimony ahead about volkswagen america's allegations on the hill. al jazeera's lisa stark joins us from washington. it was that string of questions. what did you know, mr. horne, and when did you know it? >> reporter: that is a key question. one distinction he made is he learned about emissions problems more than a year ago, but it was only last month that that was, in fact, because of a deliberate deception on the part of the company. as you can imagine, tony, michael horne apologized to lawmakers. take a listen. >> i would like to offer a sincere apology for volkswagen's use of a software program that served to defeat the regular emissions testing regime. let me be very clear. we at volkswagen take full responsibility for actions and working with all the relevant authorities in a cooperative way. >> reporter: now, mr. horne also today the lawmakers he believes this deception, this decision to put in software to cheat on emissions standards was made not at the highest corporate levels but at some engineering level. tony, lawmakers just did not buy

. >>> now, auto makers are still ahe issing the fall out from the volkswagen emission scandal. many expect new regulations in the year ahead. >> the woekeds wagon -- the volkswagen scandal is having major repercussions, starting with the test methods for car emissions xing this is not what happens now. inspectors put the car in a laboratory test rig. gas emissions are measured in controlled conditions, this way all cars can be tested and compared using the same driving patterns. voek -- volkswagen abused this method. it could sense when their cars are being tested on a rig. when this was activated, the software controlled the car. out on the road, it was a different story. when it was running normally, the software switched to driving mode. in this state, emotion controls were -- emission controls were relaxed. they were emitting up to 40 times more particles than legally permitted. one reason the volkswagen cheating surfaced was because of improvements in testing technology. the new systems enable inspectors to check cars on the road. researchers from the international council

angie: volkswagen survive here? -- can volkswagen survive year? will: yes, i think it survive, but they have to open up the books. if quite a number of managers were involved, i think they can still survive, and it is in the interest of germany and europe to make sure that they find a way out of it. the bigger issue is not only folks like him, it is also the diesel itself -- it is in volkswagen, the diesel itself is in question now. 50% of the cars are actually diesel. that is a big issue. angie: we have talked a lot about recalls in the past. how does this scandal rank for the automotive industry? i think it is as bad as takata and is comparable with the bp disaster and away. how manyd to say deaths were actually caused by emissions that were led out by the cars, we don't know, but i am sure congress will focus on that. it is at least as big as takata. i do get is actually bigger than the toyota scandal -- i think it is actually bigger than the toyota scandal. it ranks in the top league of any for the automotive industry. angie: thank you for put

volkswagen dealers wanted to find out what volkswagen is going to do for dealers who are stuck with inventory that americans might not want to buy now that they know this cheating software may have been installed to get around emissions testing. michael horne not providing answers saying volkswagen is in a very preliminary stage in the investigation and that the decisions will have to be made down the line and said the people who created this malicious software were likely in germany and he said he had nothing to do with it and didn't know anything about it. >> still a lot to process. eviden appreciate the update. >>> the fire storm following rupert murdoch after he tweeted about a, quote, real black president. stay with us. bring us your aching and sleep deprived. bring us those who want to feel well rested. aleve pm. the only one to combine a sleep aid... plus the 12 hour pain relieving strength of aleve. be a morning person again with aleve pm. tand that's what we're doings to chat xfinity.rself, we are challenging ourselves to improve every aspect of your experience. and this includes our

volkswagen set out to try to keep margins within the 6% range. that will definitely be something moving the stock as investors hope to see whether or not the company can keep cost down. we know management said they intend to reduce nonessential investment so we will look to see what that means when it comes to cutting back on investments. the company was in the midst of a multibillion euro cost cutting plan. so where do they go to get some of that when they don't want this to effect any jobs for the time being. >> in terms of margins they say before extra effects. before all the factors that have come to them as part of the diesel scandal, they still expect the margins for between 5.5 and 6.5% and for the car business between 6 and 7% so for now they haven't changed their margin outlook but once again that's a big disclaimer. >> before evaluating exactly what the toll will be. >> but as you said, good news on the surface of things that they have been able to maintain that thus far. >> porsche adjusting guidance on the back of this as well. it now

by volkswagen. today, a raid on the company' s headquarters in germany as prosecutors seek documents for their own investigation. >> the american people and the epa has been fraught it by volkswagen. the company' s word isn' t worth a dime. >> the company hasn' t said how in the united states. >> we will find remedies for our this will never happen again. >> michael moran said that management was not aware of the defeat technology, he believes it was done independently by a couple of software engineers. emily: a warning for some gm owners. don' t use your windshield wipers. the automaker says an electrical short could cause the motor to catch fire. the recall involves 32,000 buick enclave, chevy traverse and gmc only 6400 were sold and will be the others are being held at dealerships for repairs. holidays? orbitz says that airfare will be cheapest tomorrow. november 6, but will peak the week before christmas. you can save the most money, up to 30%, by flying on december 21, the monday before christm

meanwhile, volkswagen has yet to come up with a solution in the u.s., where new diesel models remain parked at dealerships because they can't be sold. and in china, where volkswagen is number one, there are fewer than 1,500 diesel vws with rigged emissions. still, it is a critical market for vw, which is why muller will join german chancellor angela merkel when she visits china next week. during that trip, muller is expected to update chinese authorities on volkswagen's handling of the diesel scandal. volkswagen is sticking with its guidance of global sales this year, topping $10.1 million vehicles, the same rate that it was at last year. but with two months left in 2015 and the diesel emissions scandal not showing any signs of slowing down, some wonder if vw's sales will stay strong this year. phil lebeau, "nightly business report," chicago. >>> recalls at fiat chrysler hurt the automaker's results. the company reported a surprising third-quarter loss, which follows five consecutive profitable quarters. despite the loss, fiat chrysler left its guidance for the year unchanged. >>> an

volkswagen's u.s. unit will tell a congressional committee in washington that he has known the problem for 18 months. theadmissions may affect fines of the environmental protection agency. let's go out to berlin. hans nichols has more for us. just what did the u.s. executive know and how long has he noted for? he is known since the spring of 2014 of the emissions noncompliance issues. that is what he submitted to the house committee. the night before, they submit their testimony. a lot of the news gets licked out, and the day is filled with tension because lawmakers are trying to get an exacting cost on to the ceo. in this case the head of north american operations. ofer in 2014, i was informed the technical teams had a specific plan for remedy to bring the vehicles and compliance. a were engaged with the agencies. the head of north america did not know the device was installed. we'll get the epa side of the story. they are indicating that the -- here's ahe levy quote from them. they say the agency con

volkswagen is having to recall millions of cars around the report. its share price plummeted in september, after it admitted that it cheated on some emissions tests. it's led to its worse crisis in its long history. the future of many of these workers now depends on how well vw can recover trust in its brand, a brand built on reliability and trust. restoring that consumer confidence in europe's biggest car-maker and one of germany's successful brands is likely to take time and resolve. and could take more than replacing the people at the top. >> somebody is losing his or her job, and to that means a new person, a new face. that is not only about changing management, it's about changing how you do your business, and changing what you tell your customers about your products. >> reporter: vw looms large her, etched on every corner. there is a quiet optimism in wolves burg that the car-maker can ride out the storm and restore its tarnished image >>> more immediately what does today's numbers, and news mean for the company. >> it means they'll have to wor

. >> words from the head of volkswagen u.s. here, testifying on capitol hill on that emissions scandal there. this controversy surrounds up to 11 million vehicles that were equipped with software that allowed them to cheat on u.s. emissions tests. you heard there from michael horn saying that he didn't think that this was possible, saying that -- and admitting that volkswagen has broken the trust of the public and their customers, and they are taking full responsibility. that testimony will continue as representatives from the epa are expected to speak as well. we'll continue to watch this especially that gets heated. we'll bring you updates as we get them. >>> we're also following developments from wall street where stocks are slightly lower despite an upbeat report on the job market. the dow jones down 24 points. cnbc's mandy drury is here with a market rundown. mandy, good morning to you. bring us up to date about this. before we start talking about holidays because it's still way too early for me to talk about it. i know yo