Volkswagen 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}
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.