Volkswagen diesel scandal
Volkswagen Group has announced that CEO Martin Winterkorn has resigned, effective immediately. The announcement comes just days after the news broke that the company had used software to fool emissions measuring equipment both in the United States and abroad. READ: VW Diesel Troubles Could Become Audi And Porsche Problems In a statement released after an emergency meeting of VW's shareholders, Winterkorn said, "I am shocked by the events of the past few days. Above all, I am stunned that misconduct on such a scale was possible in the Volkswagen Group." The 68-year-old industry veteran added...
VW sets aside $7.3b for diesel scandal as share price slides
On Friday, the Environmental Protection Agency dropped a bombshell. Between 2009 and 2015, Volkswagen intentionally used software to trick emission-testing equipment into passing noncompliant models equipped with its 2.0-liter four-cylinder TDI diesel engines. ALSO SEE: Volkswagen CEO Martin...John Coyle
VW diesel troubles could become Audi and Porsche problems
Volkswagen is in serious trouble. The automaker has admitted to using a device to cheat its way around the EPA testing that turned on during testing and off during normal driving. The four-cylinder TDI diesel engines sold in cars between 2009 and 2015 are affected, and this could mean that nearly...Jeff Glucker
VW CEO issues apology after EPA accuses automaker of cheating on emissions tests
The Environmental Protection Agency (EPA) on Friday came out with the shock announcement that the Volkswagen Group had installed software on close to 500,000 of its TDI-branded diesel models from the Volkswagen and Audi brands that was designed to circumvent EPA emissions standards for certain air...Viknesh Vijayenthiran