Volkswagen Says 800,000 More Cars Affected in Emissions Probe

  • 9 years ago
Volkswagen AG said an internal probe in the wake of the diesel scandal that has engulfed the company for the past six weeks showed irregularities on an additional 800,000 cars, deepening a crisis that has already cost long-time Chief Executive Officer Martin Winterkorn his job, depressed the stock price and led to ballooning provisions.
The German carmaker said the economic risk stemming from the finding is about 2 billion euros , according to a release on Tuesday, citing preliminary estimates.
The diesel scandal has weighed heavily on Volkswagen's earnings and stock performance, and the company reported its first quarterly loss last month in at least 15 years because of the reserves set aside to implement fixes.