October 26, 2015
In the first half of 2015, Volkswagen overtook Toyota as the world's top carmaker by sales. It doesn’t look like it’s going to stay on top very long. Last month, it was revealed that Volkswagen had installed software to cheat U.S. Environmental Protection Agency (EPA) tests for almost 500,000 diesel engine VW and Audi cars, model years 2009-2015. These cars passed EPA tests, but in real-world driving they emit up to 40 times the legal limit of nitrogen oxides. As investigations and lawsuits mount up around the world, MoneyTips looks at how the biggest crisis in the German company's 78-year history involving 11 million cars worldwide will affect their bottom line.