German automaker Volkswagen on Sunday admitted that it installed software that doctored the pollution tests for diesel vehicles sold in the United States. Volkswagen stock, which is listed in Europe, fell more than 20 percent Monday morning on the announcement. The company apparently was concerned that meeting the federal emissions standards would require it to degrade the vehicles’ engines, thereby undercutting fuel efficiency, which is a key selling point for diesels.
Just to clarify, the Clean Air Act allows for a maximum fine of $37,500 per vehicle. It's not typical for the fine to reach the maximum limit.
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Tests, Lies and Volkswagen
Posted by: Peter Suciu September 21, 2015 03:02 PMGerman automaker Volkswagen on Sunday admitted that it installed software that doctored the pollution tests for diesel vehicles sold in the United States. Volkswagen stock, which is listed in Europe, fell more than 20 percent Monday morning on the announcement. The company apparently was concerned that meeting the federal emissions standards would require it to degrade the vehicles’ engines, thereby undercutting fuel efficiency, which is a key selling point for diesels.