One of the world’s most sought after and widely popular carmakers Daimler have been fined a massive sum of around 870 million euros which accounts to almost 1 billion $ in lines with breaching an environmental norm that puts the brand directly in the line of fire.
So what exactly happened that Daimler has been subjected to such a massive sum of financial penalty?
It appears that the renowned German brand has been subjected to the intense financial scrutiny and fines in lines with the brand cheating emission tests, an aspect that commonly makes headlines in a part of the century where flouting environmental norms isn’t that strange an occurrence.
In fact, what’s rather surprising is that it’s not the first time that a leading carmaker has been subject to an enormity of fine. It wasn’t too long ago when around four years back in time Volkswagen- inarguably, one of the world’s biggest car sellers- was central to one of the biggest scandals in the entirety of automobile industry.
Manipulating emission tests for as many as 11 million cars caught the glaring eye of the environmental bodies and from that point onward, it could be said, Volkswagen have somewhere lost the credibility they so mightily commanded.
But in case you were wondering about the scale of vehicles that Daimler tampered with, in lines with breaching environmental standards, then take a guess!
It appears that Daimler have been fined for tampering as many as 6,84,000 vehicles- if you thought that the scale wasn’t in any way sizeable.
Prosecutors found the maker of Mercedes-Benz cars sold about 684’000 vehicles that didn’t comply with regulations on emissions of nitrogen oxides, according to statements from Stuttgart authorities and Daimler.
In addition to the above, the official statements also furnished the following information, the company agreed not to contest the verdict and confirmed its financial guidance.”
But all of that said, if there’s an element of question that needs some debating and introspection then it pertains to whether this massive financial setback will completely take a toll on Daimler’s market credibility?
Automotive experts, believe it or not, aren’t truly of the view that this would hamper Daimler’s reputation completely owing to the fact that one has seen leading brands like Volkswagen, who, despite being tangled in a major setback, earning the wrath of critics and the stakeholders in the automobile industry came back from the brink to spark an EV revolution.