VW IN LEGAL BATTLE

it is no more news that the Volkswagen company has involved itself in a million dollar scandal associated with the introduction of a software capable of fooling emission detectors on diesel cars
The "defeat devices" meant true emission levels as much as 40 times the level legally allowed in the US, were hidden.
At least 482,000 cars are to be recalled and the world's largest car maker could face penalties of more than $18bn in the United States alone. Reports say that the company also faces a criminal investigation in the US and further  probes in countries including Germany, France and South Korea.
There are speculations that if the company fails to act as fast as possible it could have a negative impact on the economy of major countries top of the list been Germany.

In a press conference volkswagen boss has apologized but offered no undertaking to resign following eight years in charge that have seen VW almost triple its profits, investigations conducted suggest that it is unclear if Mr. Winterkorn was aware of the emissions rigging software.

"I am endlessly sorry that we have disappointed this trust", he said on Tuesday
"I apologize in every way to our customers, to authorities and the whole public for the wrong doing. We are asking, I am asking for your trust on our way forward. We will clear this up"

"No company should be allowed to evade our environmental laws or promise consumers a fake bill of goods," said Mr Schneiderman a New York Attorney General who is also a party in the investigation.

It is difficult to say the extent of fine to be inflicted on the company but our sources are of the opinion that the company has set out aside  €6.5bn (£4.6bn) or more.