Volkswagon continues to implode, having admitted that 11 million vehicles worldwide could have been fitted with software which misled regulators. The United Nations said that the scandal was ‘deeply troubling’.
As various countries launch investigations into the Volkswagon fraud, shares in the company are now down 41% since news of the scandal broke.
Whilst the media are suggesting that this could be the end of the diesel car, there are suggestions that the fraud also relates to petrol cars.
At some stage the shares will represent a good trading opportunity (albeit for a dead cat bounce). However, the question is when will they hit bottom?
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