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The emissions scandal is far from over for Volkswagen, but little by little, Volkswagen is fixing those polluting TDI engines. Dieselgate took a serious hit on the German automaker, but in spite of all that, business is going well in Wolfsburg.
Renault-Nissan-Mitsubishi may be the leader in terms of sales in 2017 (10.6 million), but Volkswagen comes in on a close second with 10.53 million vehicles. Then there’s Toyota, with 10.2 million under its belt, breathing down the German juggernaut’s neck. And that’s not bad at all considering how expansive the Volkswagen Group is in terms of brands compared to Toyota Motor Corporation.
Though sales are encouraging, to say the least, Volkswagen finds it hard to keep up with Dieselgate costs and the massive push for electrification with the MEB, J1, and PPE vehicle platforms. But there’s sufficient money left in the coffer for the chief executive officer of Volkswagen AG to take home €10.14 million per year.
According to the automaker’s latest financial report, Matthias Muller enjoyed a 40-percent increase in earnings last year, pay and benefits included. That’s $12.46 million at current exchange rates, which is a lot of money when you think about it.
It’s so much money that mustache-rocking Dieter Zetsche of Daimler AG earns 20 percent less. That’s curious in a way, as in Mercedes-Benz beat Audi and BMW in the premium segment for the second year straight in 2017. And for further reference, Muller earned something in the ballpark of €7.3 million in the year 2016.
The trend is also present in overall compensation for the executive board. According to the financial report, the €50.3 million paid out represents a jump of 27 percent compared to 2016. Being a member of the executive board has its perks, alright!
After being thrown into the biggest crisis of its entire existence in 2015, Volkswagen got out of the Dieselgate slump in 2017, reporting annual operating profits of €17 billion sans €3.2 billion in costs related to recalled diesel vehicles. Then came the scandal with monkeys locked in chambers, exposed to diesel exhaust fumes because Volkswagen, that’s why!
With Muller’s contract ending in 2020, could we be in for something new after Dieselgate and Monkeygate until then?
Though sales are encouraging, to say the least, Volkswagen finds it hard to keep up with Dieselgate costs and the massive push for electrification with the MEB, J1, and PPE vehicle platforms. But there’s sufficient money left in the coffer for the chief executive officer of Volkswagen AG to take home €10.14 million per year.
According to the automaker’s latest financial report, Matthias Muller enjoyed a 40-percent increase in earnings last year, pay and benefits included. That’s $12.46 million at current exchange rates, which is a lot of money when you think about it.
It’s so much money that mustache-rocking Dieter Zetsche of Daimler AG earns 20 percent less. That’s curious in a way, as in Mercedes-Benz beat Audi and BMW in the premium segment for the second year straight in 2017. And for further reference, Muller earned something in the ballpark of €7.3 million in the year 2016.
The trend is also present in overall compensation for the executive board. According to the financial report, the €50.3 million paid out represents a jump of 27 percent compared to 2016. Being a member of the executive board has its perks, alright!
After being thrown into the biggest crisis of its entire existence in 2015, Volkswagen got out of the Dieselgate slump in 2017, reporting annual operating profits of €17 billion sans €3.2 billion in costs related to recalled diesel vehicles. Then came the scandal with monkeys locked in chambers, exposed to diesel exhaust fumes because Volkswagen, that’s why!
With Muller’s contract ending in 2020, could we be in for something new after Dieselgate and Monkeygate until then?
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