Pressure grows on Volkswagen as bad news piles up
Investors and regulators put more pressure on Volkswagen on Wednesday after the company said it had understated the carbon dioxide emissions for 800,000 cars, widening its scandal over cheating on U.S. engine tests.
Amid concerns over the escalating cost of the crisis, the German carmaker's ordinary shares slid 9.5 percent to close at 100.45 euros.
The company has been unable halt the flow of bad news since the scandal broke Sept. 18, when the U.S. Environmental Protection Agency said Volkswagen had installed software on 482,000 cars that enabled them to cheat on emissions tests for one pollutant, nitrogen oxide. The software reduced emissions when the car was on a test stand. Up to 11 million Volkswagen vehicles worldwide have the software.
