A top US executive at Volkswagen has admitted that his company “totally screwed up”. It cheated on emissions test and now says 11 million cars worldwide are affected.
The company is spending 7 billion so far on the scandal. Source: Goodmorning America
Volkswagen shares have tumbled more than 20%, their biggest ever one-day fall, as the German car maker was plunged into turmoil by accusations from U.S. authorities that it falsified emissions data.
The U.S. Environmental Protection Agency said on Friday Europe’s biggest car maker used software for diesel VW and Audi branded cars that deceived regulators measuring toxic emissions and could face up to $18 billion in penalties. Source: One News Page