Slumping U.S. car sales, a credit rating downgrade and signs that banks will help carmaker Volkswagen shoulder the costs of its emissions scandal – just another rollercoaster week for the beleaguered German auto giant.
VW's owners are set to face the company's workers on Wednesday for the first time since the scandal over emissions broke.
Chairman of Porsche and VW board member, Wolfgang Porsche, and three other board members will address thousands of workers at the automaker's Wolfsburg factory in an effort to reassure their commitment to staff that have been forced to take two weeks of unpaid leave due to falling revenue.
On Tuesday, Porsche said in a statement that he was convinced "that the city of Wolfsburg together with Volkswagen will master the situation and gain further strength," adding that the carmaker had the backing of the main family-owned shareholders.
"The Porsche and Piech families stand behind Volkswagen and Wolfsburg as its headquarters," he said.
It's only halfway through what has been a rollercoaster week for Volkswagen. On Tuesday, VW said that November U.S. car sales fell almost 25 percent from a year ago, saying the decline was due to the stop-sale for diesel-powered vehicles that the government says cheated on emissions tests.