VW emission test cheating rocks Europe’s carmakers - FT.com
Andy Sharman in London and Jeevan Vasagar in Berlin 9-22-15
The European car industry was shaken on Monday as Volkswagen’s share price fell almost 20 per cent over its admission that it cheated on US emissions tests, triggering calls for a broader inquiry into the sector.
More than €13bn was wiped off VW’s market capitalisation, spurring a wider fall in carmakers’ shares, after Martin Winterkorn, the group’s chief executive, apologised and ordered an external investigation into the affair.
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