Reuters - Video

Edition: US | UK | IN | CN | JP

Finance Videos

VW inquiry to take 'months'

Friday, October 02, 2015 - 00:58

Volkswagen warns it will take longer than expected to investigate the rigging of vehicle emissions tests, raising the prospect of months of uncertainty. As Tim Graham reports, it's proposed cancelling a shareholder meeting it called less than a week ago to discuss the crisis.

▲ Hide Transcript

View Transcript

Setting expectations for the long road ahead. Volkswagen confirming it will take several months at least to investigate its diesel emissions scandal. Raising the prospect of much more uncertainty to come for customers and staff. Not to mention shareholders. A hastily-arranged November meeting designed to update them may now be cancelled by the company. A bad move, says CMC analyst Michael Hewson. (SOUNDBITE) (English) CMC ANALYST, MICHAEL HEWSON, SAYING: "Suspending a shareholder meeting is not the answer. I still think they need to hold to that, simply because I think they need to give their shareholders clarity on what's being done to resolve the situation." Volkswagen's legal burden is mounting by the day. The Paris prosecutor is now looking into suspected "aggravated deception" by the company. They're also wanting answers on the other side of the Atlantic. Volkswagen's U.S. chief executive will testify next week before a congressional panel.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

VW inquiry to take 'months'

Friday, October 02, 2015 - 00:58