Volkswagen management has acted swiftly since the emissions scandal broke. Within days - the company had a new CEO. Now - a new chairman- who warns fixing the auto-maker's beleaguered brand could take years.
"The public and above all our clients have a right to be informed comprehensively. (pauses) Nobody is served by speculation or vague, preliminary progress reports. Therefore, it will take some time until we have factual and reliable results and can provide you with comprehensive information," Volkswagen chairman Hans Deiter Poetsch said.
Chief Executive Matthias Mueller wants all cars fitted with diesel emissions cheating software fixed by the end of next year. Up to 11 million vehicles worldwide will need software upgrades - some may even need new parts. And that's just the start of a comprehensive overhaul. Mueller told employees at VW's Wolfsburg headquarters on Tuesday that massive savings would be needed - because the fines, and the loss of sales, could cost many billions of dollars.
VW is calling its plans an "evolution - not a revolution." But Mueller himself says it won't be painless. The company employs more than half a million people in more than 100 countries. There's no talk of job cuts yet - but industry experts believe that at some point, it's inevitable.
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