VW shares sag after latest emissions cheating accusation
FRANKFURT, Germany (AP) — Shares in automaker Volkswagen are sliding after U.S. environmental officials said the company equipped more models than previously thought with software that let the cars cheat on diesel emissions tests.
The company's ordinary shares fell 3.37 percent in midday trading Tuesday in Europe to 108.90 per share.
A scandal over emissions cheating widened on Monday when the Environmental Protection Agency said that Volkswagen installed software on thousands of Audi, Porsche and VW cars with six-cylinder diesel engines that allowed them to emit fewer pollutants during tests than in real-world driving. Volkswagen denied the charge, but faces the prospect of more fines and lost sales.
The previous revelations of cheating involved four-cylinder diesels in smaller cars. Volkswagen has apologized for those cars and hired a law firm to investigate.