FRANKFURT, Germany — For Volkswagen, the cost of its cheating on emissions tests in the U.S. is likely to run into the tens of billions of dollars and prematurely end its status as the world's biggest carmaker, analysts say.
As well as fines from governments, Volkswagen faces the expense of recalling up to 11 million cars globally.
Already the company has set aside $7.3 billion to cover the fines and recalls. Some experts estimate the bill could ultimately be five times as large.
"This is damaging stuff that goes way beyond negligence and incompetence," said Jeremy Robinson-Leon, principal and chief operating officer at New York-based PR firm Group Gordon. "The issue here is fraud and pretty brazen fraud at that."
Read Wednesday's Arkansas Democrat-Gazette for full details.