VW Chairman Seeks to Defend Market Position in Scandal’s Wake

CORRECT: VW CEO to Use Crisis as `Catalyst for Change'

Volkswagen AG Chairman Hans Dieter Poetsch said defending the automaker’s market position in the wake of the emissions cheating scandal will be “no easy task.”

Poetsch, who is speaking to reporters Thursday about the crisis that began in September, said the automaker deeply regrets what happened and must win the trust again of customers.

Since the scandal became public in September, VW has apologized repeatedly but provided little information on the people and processes involved in rigging 11 million diesel vehicles to pass emissions tests. The crisis has battered its reputation and erased billions from VW’s market value.

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