On Tuesday last VW whose 12 brand empire includes brands such as Audi,Seat,Skoda,Porsche and VW said that 11 million of its cars featured software designed to deliberately cheat on air quality tests.
Up to 80,000 cars in Ireland could be affected.
This is the biggest crises in its 78 year history with billions slashed from its market valuation. Its share price has gone from a 52 week high of €132.09 to €107.30 today.
(see also post on April 2010)