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Winterkorn resignation to scupper VW F1 bid?

The fallout from Volkswagen's US car emissions scandal sees Martin Winterkorn resign from his post as chief executive.
The prospects of the Volkswagen Group entering Formula 1 could be scuppered by the news that Martin Winterkorn is to resign as its chief executive in the wake of the US car emissions scandal.

Winterkorn was known to be the driving force behind a bid to convince Volkswagen board members to sign off a move into F1, a passage made clearer by former chairman Ferdinand Piech – who was against the proposal – exiting the firm earlier in the year.

However, the revelation that the world's largest car maker manipulated US diesel car emissions tests to give more positive results has claimed its first victim in Winterkorn, who said the company needed a 'fresh start' to rebuild consumer confidence even if he insists he had no knowledge of the wrongdoing.

The news is a swift and potentially decisive blow to the suggestion that VW could finally green light a move into F1 at least in the short-term, particularly as it says it will be setting aside £4.7 billion to cover costs of the scandal and has already had upwards of 40 billion euros wiped off its value on the stock market.

News broke over the Singapore Grand Prix weekend that VW was close to a deal to take over Red Bull Racing's F1 effort from 2018 and was set to construct its own power unit, only for the scale of the emissions scandal to emerge too.

German media is reporting Porsche boss Matthias Mueller will be named as Winterkorn's replacement on Friday.

Tagged as: VW

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September 24, 2015 9:01 AM
Last Edited 6 days ago

Cheppy: Now the reality is impossible for VW to buy Red Bull team and enter F1 business in near future. VW needs to sort out its cars emission cheating scandal. It will cost VW at least 20 - 25 billions Euro and it will take long times to recover VW business and name. VW has screwed up. Its TDI Diesel engine car was emitting Toxic Nitrogen Oxide Gas 40 times more pollution than allowed. It looks like VW TDI Engine car drivers are sitting in the Toxic Gas chamber. So Bye Bye VW.
Got a VW TDI, great engine. Completely reliable and bags of torque. I couldn't care less if it gases a few squirrels before you ask. They be mad to enter F1 after this week's events from a credibility point of few but it would have been a good thing if they entered.


September 24, 2015 10:48 AM

At the VW board meeting yesterday the only item on the agenda was the cheating software now called “dieselgate” that has caused share prices index to fall 25% Monday wiping 24 billion off company valuation, Winterkorm stood his ground apologising, but refusing to step down, that changed to him being fired and will most probably be replaced by (reported) Porsche’s CEO Mathias Muller, Winterkorm was a known personal friend of Mateschitz, he earlier ousted Piech, the Porsche family have been cool on F1 and the new CEO of VW is most unlikely to see F1 as a must for VW group to be involved with, the same exact line of the Porsche family.

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