VW emission scandal

I was reading an article the other day in the online edition of BBC News and it talks about the VW emission scandal.

I thought you might be interested because one of the most successful carmakers has caused an immense damage.

It has now been a topic for many days which directly affects 363,000 vehicles only in Austria.

Basically, the article reports that Volkswagen manipulated the exhaust values of 11 million vehicles worldwide.

It also says that VW did this due to heavy regulations in the US. The persons responsible admitted that there have been manipulations since 2008.

As you might know, the current crisis is not only a severe shock for VW but for the whole industry. There are rumours that the scandal could hit the brand VW very hard in the long-term.

What interested me most was that the share has fallen by approximately 37 percent since the beginning of the crisis.

What shocked me most was that in 2016 in Austria 363,000 vehicles will have to be repaired.

What do you think about the scandal?

Regards,
Julian