Volkswagen under fire for April Fools' Day joke

The U.S. subsidiary of the car company is facing backlash for a prank-gone-wrong where it announced it was changing its name to “Voltswagen” in a gimmick to promote its new electric car.
2:31 | 04/01/21

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Transcript for Volkswagen under fire for April Fools' Day joke
We can't wait either. We will see that shortly. April fools' fallout. Volkswagen under fire for a marketing prank gone wrong. Our chief business correspondent Rebecca Jarvis joins us now with more. Rebecca, I would have loved to been in that planning meeting for that. The first rule of a good April fools' day prank is make sure the joke isn't on you, Volkswagen learned that the hard it's the prank that could land Volkswagen in serious hot water. Earlier this week the U.S. Subsidiary of the car company announcing it was changing its name from Volkswagen to voltswagen saying our future is in being the electric car. It turned out to be an April fools' joke. They had to walk it back. To all attention that is called to a name, I don't know who thought it was a good idea respiratory they were caught up in a global emissions scandal that cost it $35 billion in fines and settlements. Now, the company apologizing for the April fools' stunt clarifying that the name change wasn't real. Calling it a marketing campaign it hoped would promote its new electric car in a fun and interesting way. while some pranks seem harmless like petco announcing it would plan the perfect wedding of your pooch's dreams or McDonald's announcing it was launching milk shake flavored dipping sauces, they can also backfire. One of the biggest issues with Volkswagen's press release it helped them surge 5% before they got out and clarified it wasn't real. I hope the jokes keep coming but executed a little better. Happy April fools' guys. We don't have Nick planned here. No. Have you bever been into that. I got pranked on this show. Oh, wow. By my wife a few years ago. She had saying in my ear I was being sent to California immediately after the show and I was sitting here stewing. That's a good one. It was a good one. Ali -- I won't tell you what they were sending me to California

This transcript has been automatically generated and may not be 100% accurate.

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