BUSINESS

Volkswagen Emissions-Rigging Scandal Causes Shares To Slide For Third Day

09/23/2015 10:55 EDT | Updated 09/23/2016 05:12 EDT
BERLIN — Shares in Volkswagen AG are heading south for a third consecutive day as the automaker scrambles to contain its widening emissions-rigging scandal.

Volkswagen's share price fell 4 per cent to 101.75 euros in early Frankfurt trading Wednesday. The fall follows declines of 17 per cent and 20 per cent in the first two days of the trading week.

On Tuesday, VW said 11 million of its diesel vehicles worldwide contain software that can evade emissions controls, far more than the 482,000 cars identified by U.S. authorities as violating clean air laws.

CEO Martin Winterkorn said he was "endlessly sorry" and asked in a video message for "your trust on our way forward." Questions remain about his future.

The executive committee of Volkswagen's supervisory board is expected to discuss the scandal Wednesday.

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