Volkswagen shares down 20% on rigged emissions tests. VW SA not off the hook

The shares of German car manufacturer Volkswagen have dipped nearly 20% since the company admitted it had rigged emissions tests of diesel-powered vehicles in the US.

Volkswagen has thus far set aside about R100 billion for imminent penalties as the CEO remains under pressure.

Just how much trouble is the car maker in?

The Money Show’s Bruce Whitfield interviewed Mark Smyth, Editor of Business Day Motor News.

Scroll down for quotes from the audio below.

They’ve damaged their brand’s reputation. They deliberately cheated and admitted it.

Mark Smyth

There is a possibility that 11 million vehicles are affected!

Mark Smyth

Subscribe to our Business Wrap Newsletter


Recommended

by NEWSROOM AI

702 welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the 702 community a safe and welcoming space for all.

702 reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

702 is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
How to never-ever fall prey to ID theft… and info about a free service if you do

How to never-ever fall prey to ID theft… and info about a free service if you do

The Money Show’s Bruce Whitfield interviews Manie van Schalkwyk, Executive Director at The South African Fraud Prevention Service.

New Kia Stinger ad is awesome (just like Korean cars in general)

New Kia Stinger ad is awesome (just like Korean cars in general)

What is the future of driving? Perhaps it’s actually driving! A Kia! Bruce Whitfield interviews advertising expert Andy Rice.

Did you know? Tourism supports 10.3% of ALL jobs in South Africa

Did you know? Tourism supports 10.3% of ALL jobs in South Africa

The Money Show’s Bruce Whitfield interviews David Frost, CEO at Southern Africa Tourism Services Association.

We’re recapturing state-owned companies (and fixing Sars) - Minister Nene

We’re recapturing state-owned companies (and fixing Sars) - Minister Nene

The Money Show’s Bruce Whitfield interviews Finance Minister Nhlanhla Nene, who tabled Treasury’s budget in Parliament on Tuesday.

SA Mohair industry (world’s largest) face extinction after Peta video/global ban

SA Mohair industry (world’s largest) face extinction after Peta video/global ban

The Money Show's Bruce Whitfield interviews Deon Saayman (Mohair SA), Gay van Hasselt (Angora farmer) and Belinda Abraham (SPCA).

Expresso’s Katlego Maboe answers personal questions about his own money

Expresso’s Katlego Maboe answers personal questions about his own money

The Money Show’s Bruce Whitfield interviews Maboe about his attitude to money (hopes and fears, successes and failures, etc.).

Popular articles
[LISTEN] Van Breda's call to emergency services: 'My family and I were attacked'

[LISTEN] Van Breda's call to emergency services: 'My family and I were attacked'

The chilling call Henri van Breda made to emergency services on the night his mother, father and big brother were hacked to death.

[LISTEN] Father shares how he shot the man who raped his daughter

[LISTEN] Father shares how he shot the man who raped his daughter

Johannesburg father, Chris says he had just come back from work when he walked in on an employee raping his 17 year old daughter.

UPDATE: Chilling WhatsApp from Marli van Breda's ex-boyfriend read out in court

UPDATE: Chilling WhatsApp from Marli van Breda's ex-boyfriend read out in court

Marli van Breda's ex took the stand in the trial of triple murder accused Henri van Breda.

So what exactly is radical economic transformation?

So what exactly is radical economic transformation?

Wits associate professor of economics Christopher Malikane speaks to Azania Mosaka about the term that is being bandied about.

Competition Commission investigates five companies to stamp out price-fixing

Competition Commission investigates five companies to stamp out price-fixing

Commission says investigation into food and agro processing companies is important because of high levels of inequality in SA.

Who is Advocate Tembeka Ngcukaitobi?

Who is Advocate Tembeka Ngcukaitobi?

The EFF lawyer stole the show during the state capture report court battle.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Blesserfinder: Matching you with a sugar daddy near you

Blesserfinder: Matching you with a sugar daddy near you

Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?