Investing.com - Volkswagen (XETRA:VOWG) shares tumbled more than 20% on Monday, their biggest ever one-day fall, as the German carmaker was plunged into turmoil by accusations from U.S. authorities that it falsified emissions data.
The U.S. Environmental Protection Agency said on Friday Europe's biggest carmaker used software for diesel VW and Audi branded cars that deceived regulators measuring toxic emissions and could face up to $18 billion in penalties.
The scandal has emerged just as VW was hoping to move on from a damaging leadership battle, with a supervisory board meeting on Friday due to discuss a new company structure and management line-up.