More Troubles for Volkswagen as Probes Multiply in Falsified Vehicle Emission Scandal
Volkswagen's troubles are far from ending. The scandal which hit the car maker in relation to falsified vehicle emission tests in the U.S. could affect eleven million cars globally said the company. It also said that, investigations related to its diesel models multiplied increasing fresh pressure on Martin Winterkorn, the CEO of VW.
The German automobile maker said it plans to set aside 6.5 billion euros or 7.3 billion to cover the costs in its third-quarter accounts. It will surely cut a hole in its profit forecasts. This is the largest scandal for the car company in its history of seventy eight years.
The company also said that the figures could increase as the diesel cars with Type EA 189 engines fitted in several of the Volkswagen models globally showed 'noticeable deviation' in emission the levels when on road and when tested for pollution.
On Friday, the U.S. Environmental Protection Agency said that the carmaker could face penalty up to $18 billion for dodging the rules and deceiving the emissions tests. Sources say that, increasing troubles for the car manufacturer, additionally, the U.S. Justice Department has launched a criminal probe on Volkswagen.
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