VW Cheating Scandal Grows to 11M Cars

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car gas safetyVolkswagen admitted Tuesday that as many as 11 million of its vehicles may be affected by software that downplays emissions during testing.

In a statement, the German auto maker said that it is “working intensely to eliminate these deviations through technical measures.”

The company dedicated $7.3 billion to deal with the situation. VW shares dropped an additional 20 percent Tuesday, cutting the company’s market capitalization by more than $31 billion just this week.

CEO Martin Winterkorn issued a statement Tuesday saying he is “deeply sorry.” Read more at NBC News.

{CB Frommer-Matzav.com}

1 COMMENT

  1. Hitler’s “People’s Car” is now gassing Americans. I hope the chain of command decision makers who were involved with this scheme are arrested and serve long prison terms. Every single car sold with this intentional poison-spewing flaw should have its full price refunded to its buyer by Volkswagen.

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