Like every April 1st, everyone strives to celebrate the best April Fool’s Day joke. However, some go a little too far and end up regretting it, this is especially the case with Deliveroo or Volkswagen. An April Fool’s joke that puts the German manufacturer at the center of an investigation by the Securities and Exchange Commission (SEC). It must be said that the “joke” presented by Volkswagen goes a little far.
To begin with, the world’s leading vehicle manufacturer decided to kick off its April Fool’s Day joke on March 30th with the release of a new logo and brand name on social media. Volkswagen makes the following announcement: “We know 66 is an unusual age to change a name, but we have always been young in our hearts. This is Voltwagen. It’s like Volkswagen, but with a special focus on electric driving. It starts with our brand new 100% electric ID.4 SUV – available now. “
A badly calculated joke?
What bothers the SEC is not the quality of the joke or the disregard for April 1st, but above all the impact of this “joke” on the company’s stock market. On Wall Street, Volkswagen’s stake rose 8% within hours of this release being published. As a result, the Securities and Exchange Commission has decided to open an investigation into Volkswagen’s North American subsidiary to determine whether this “Voltwagen” matter has affected the company’s share price.
In any case, this April Fool’s joke is an absolute disaster for Volkswagen before we even know the results of the investigation. This joke not only seriously damaged the trust of the media who picked up this publication in the first degree, but it undoubtedly also damaged the public image of the brand. That investigation could be the icing on the cake by handing the automaker a heavy fine for an alleged joke.
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