OUCH! Volkswagen Faces $18 Billion Fine for Cheating On US Emissions Tests

Volkswagen CEO Martin Winterkorn may face a leadership challenge after it was disclosed that the automaker cheated on U.S. air pollution tests for diesel cars, analysts said.

VW faces fines of up to $18 billion and a backlash from consumers in the U.S. after the company admitted that software that it designed for VW brand and Audi diesel cars gave false emissions data.

Today, Volkswagen shares plunged as much as 23 percent to 125.40 euros in Frankfurt, extending the stock’s slump for the year to 31 percent. The drop wiped out about 15.4 billion euros ($17.4 billion) in value.

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TomM - 9/21/2015 11:36:12 AM

+1 Boost

Maybe FCA will be able to BUY Volkswagon - and leave GM alone

BMWm4 - 9/21/2015 12:06:26 PM

+4 Boost

ouch is right. Wonder how German Nut will spin this news

Agent009 - 9/21/2015 1:10:15 PM

+3 Boost

Not much spinning they can do, however some heads will roll over this.

BMWm4 - 9/21/2015 6:35:56 PM

+2 Boost

I am surprised in this day and age to the extent of the deception. Especially after the Toyota fiasco in 2007 to 2010 & then the GM disaster going on right now.

MrEE - 9/21/2015 8:24:02 PM

+3 Boost

Biggest loss may be trust of brand, at least here is the US. Might be a repeat of their sudden acceleration fiasco.

I wonder what it will take to bring the ~500k engines into compliance and how mods will be mandated, especially if there are performance impacts.

VAGrukidding - 9/21/2015 10:22:54 PM

+1 Boost

I think VAG just handed Sergio the industry consolidation ticket he's been looking for.