In what continues to be a year to forget for the German automaker Volkswagen AG, the company, which passed Toyota to become the world’s highest-selling auto company this year, recently admitted to cheating the U.S. emission-control standards. According to the federal regulators, Volkswagen admitted to fitting its diesel vehicles with a defeat device that made it possible for the cars to emit less when tested, compared to the real-world conditions. The intensity of this scandal is high and the scale is massive. Volkswagen now faces large fines, loss in customer trust, disenchantment, and possible backlash from its investors, and maybe even criminal charges.
Source Forbes - Markets http://ift.tt/1NKmBd4
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