Volkswagen shares plunge 10% after crisis spreads to CO2 and petrol engines … – The Guardian
At this point the financial impact from today’s release is unclear, as only limited details have been provided. However, given that that provisions per vehicle are 4.1x higher versus the NOx issue, the magnitude could be much bigger in scale.
In our view, today’s announcement could concern those who believe that the economic impact is manageable and more than priced in post the drop in share price. <end>