Will Volkswagen Weather Emissions Scandal?

October 13, 2015

[julian stratenschulte/epa/corbis]
[julian stratenschulte/epa/corbis]

Volkswagen faces the worst business crisis in its 78-year history — one that wiped out more than a third of its market value in late September, threatening the brand and the entire German economy, which counts on the automotive industry as a major source of export income.

Martin Winterkorn resigned as CEO on Sept. 23 after Volkswagen’s stunning admission that it was using secret technology to circumvent emissions tests on diesel vehicles. According to published reports, the company is subject to an EPA and United States criminal investigation and could face more than $18 billion in fines, as well as customer lawsuits.

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