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Volkswagen shares fall as company admits it cheated

Tuesday, 22 September 2015 18:40

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The boss of Volkswagen in the United States has admitted his company "screwed up" over an emission scandal that could cost the company up to $18 billion. According to several media outlets the US Department of Justice is now opening an investigation after the world's leading car seller apologized for using software to manipulate emission tests. Volkswagen shares fell in Tuesday trading in Frankfurt, after slumping nearly 20% on Monday. The company's now being forced to recall half a million vehicles. The US boss of Volkswagen, Michael Horn, admitted the firm has behaved badly.

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Meanwhile, South Korea is launching an investigation into whether Volkswagen cheated emissions tests in the country while France's Finance Minister is calling for an EU investigation.

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