Like every April 1st, everyone is looking to make the best April Fools’ Day. However, some go a little too far and end up regretting it, such as Deliveroo and Volkswagen. An April Fool’s Day that goes so far as to plunge the German manufacturer into the heart of an investigation by the Securities and Exchange Commission (SEC). It must be said that the “joke” imagined by Volkswagen goes a bit far.
To begin with, the world’s leading vehicle manufacturer has chosen to launch its April Fool’s Day on March 30 by unveiling a new logo and a new brand name on social media. Volkswagen publishes the following announcement: “We know 66 is an unusual age for a name change, but we have always been young in our hearts. Here is Voltswagen. It’s like Volkswagen, but with a particular emphasis on electric driving. It kicks off with our brand new 100% electric ID.4 SUV – available now ”.
A bad calculated joke?
What bothers the SEC is not the quality of the joke or the disregard of April 1, it is mainly the impact of this “joke” on the stock market of the company. Indeed, on Wall Street, Volkswagen shares gained 8% in just a few hours after the publication of this publication. Therefore, the Securities and Exchange Commission has decided to launch an investigation into the North American branch of Volkswagen in order to determine whether this “Voltswagen” affair influenced the company’s stock price.
Either way, before we even know the results of the investigation, this April Fool’s Day is an absolute disaster for Volkswagen. In addition to having seriously damaged the confidence of the media who took up this publication with their eyes closed, this joke certainly damaged the public image of the brand. This investigation could be the icing on the cake by handing out a heavy fine on the automaker for what was supposed to be a joke.