1998-2005 Volkswagen New Beetle photographed in USA. Category:Volkswagen New Beetle (Photo credit: Wikipedia)

The Telegraph reports that crisis-hit Volkswagen’s troubles worsen as US chief Micheal Horn admits he knew about the scandal over a year ago.

Source: VW scandal: Volkswagen HQ raided by German prosecutors as US boss faces grilling by Senate – Live – Telegraph

The costs of the ‘Dieselgate’ scandal are estimated at USD78 Billion by analysts.

The story is still unravelling and will surely cause wider damage to the reputation of German industry.

Thoughts?

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