VW TO REFIT UP TO 11-MILLION VEHICLES IN WAKE OF EMISSIONS SCANDAL

Sep 29, 2015

By Bob Komsic

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Volkswagen’s new chief executive says the German automaker will tell customers in the coming days if they would need to have diesel vehicles with illegal software refitted.
VW Scandal
Some industry analysts predict that could cost Europe’s biggest car maker more than $6.5-billion.
The┬ácompany’s under immense pressure to address the worst business crisis in its 78-years.
The scandal has wiped over one-third off its market value, sent shock waves through the world car market and may harm Germany’s economy.
The car industry there employs more than 750,000 and is a major source of export income.
Matthias Mueller was recently appointed CEO to replace Martin Winterkorn.
German prosecutors are investigating Winterkorn over allegations of fraud.
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