Volkswagen goes into reverse as April fool about name change to ‘Voltswagen’ backfires
April Fools #AprilFools
Even the best jokes can get lost in explanation. Sadly for executives at Volkswagen, they have had a lot of explaining to do this week after an April fool went spectacularly wrong.
On Monday, three days before April Fool’s Day, the car-making giant’s US arm made the grand proclamation that it would no longer go by its old German name. Now, in the US at least, it would answer to “Voltswagen”, a reflection of its commitment to an electric future.
The news sent investors into a spin. After suggestions that it was not playing straight, the company insisted on Tuesday that the change was authentic.
The company’s share price rocketed by 5 per cent and journalists around the globe picked it up. In Britain, The