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The news clearly had a big impact given that there were official quotes from the company’s top management and soon, there was a lot of confusion about how the shares were going to be transferred to the new name.
It was just yesterday that we told you about Volkswagen’s plan to change its name to Voltswagen in the US. Volkswagen US in fact issued a statement that it had changed from Volkswagen of America to ‘Voltswagen of America’ to show the clear emphasis on the brand’s electric aspirations in the market. The news clearly had a big impact given that there were official quotes from the company’s top management and soon, there was a lot of confusion about how the shares were going to be transferred to the new name. The announcement also saw Volkswagen’s stock price rise by 5 per cent on Tuesday as well.
Scott Keogh, president and CEO of Volkswagen of America, said in the release, “We might be changing out our K for a T, but what we aren’t changing is this brand’s commitment to making best-in-class vehicles for drivers and people everywhere,”
The announcement also saw Volkswagen’s stock price rise by 5 per cent on Tuesday as well.
However, it’s come to light now, that the company had intended it as an ‘April Fools’ post. VW issued a statement confirming that it won’t be changing its brand name to ‘Voltswagen’. The company sent out a statement saying that “The renaming was designed to be an announcement in the spirit of April Fool’s Day,”
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Volkswagen clearly fooled carandbike as well like the many other media houses around the globe and kudos to the team for it. However, it will be interesting to see if the rise in the stock price of the company will prompt an inquiry from the SEC in the US.
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