11 million vehicles are being recalled in response to the scandal involving rigged emissions software that Volkswagen now needs to refit with full damage control fervor.
Deemed the worst business crisis in its 78-year history…Volkswagen is under huge pressure to address details of the scandal..which has wiped away more than one third of its market value, sending ominous ripples throughout the global car market and could easily harm the Germany economy.
“We are facing a long trudge and a lot of hard work,” Mueller told a closed-door gathering of about 1,000 top managers at Volkswagen’s Wolfsburg headquarters late on Monday.
A huge embarrassment for Germany, the crisis also affects nearly a million auto workers in a highly regarded industry for which VW’s engineering prowess has contributed a major source of export income.
