(BVO) – How many different defeat devices did Volkswagen make? And just how many people were in on the scheme?
The company says a few rogue engineers created the software that fooled emissions tests.
But Reuters sources say VW made multiple versions over a prolonged period.
If true, it would suggest a more complex deception by the German carmaker.
VW’s defeat devices were installed on about 11 million vehicles worldwide.
Analysts estimate the scandal could cost the company up to 35 billion euros when you tot up the likely cost of vehicle refits, fines and lawsuits.
IG’s Chris Beauchamp is confident that VW can overcome the crisis.
MARKET ANALYST, IG, CHRIS BEAUCHAMP,
“I think overall it’s one that Volkswagen can still get through provided it does handle the PR element sufficiently well. And that it seems to be doing. It’s taken the necessary steps to start with by replacing some of its senior management. That will continue and I think it will move on from this in due course.”
VW in Europe and the United States has declined to comment on whether it developed multiple defeat devices, citing ongoing investigations by the company and authorities in both regions.
Some industry experts say if there were several versions of the device, it would raise the possibility that more employees were involved.
That’s a key issue for investors because it could affect the size of potential fines and the extent of management change at the company.
And there could be more trouble ahead for those at the top.
There are reports that legal action could be launched on behalf of shareholders, with as much as 40 billion euros being sought over the scandal.