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There is going to be a cloud (double entendre) over all diesel cars for a while. Whether this leads to their demise in the US or elsewhere is to be seen. In the last 5 days BMW shares have declined about 15%.
VW is not the first manufacturer to get caught cheating on diesel engines. Heavy truck engine manufacturers were fined a few years back. However, this comes at a time of increased environmental regulatory tightening and an activist EPA installed by Obama.
One would have to be brave to buy a diesel powered car or light truck right now. Owners of all VW's not just diesels are reporting it is nearly impossible to sell their cars right now. Leasing companies are going to take a giant hit on this.
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