Volkswagen shares slide after latest emissions cheating claims

Volkswagen shares have dropped after US environmental officials said the company equipped more models than previously thought with software that let the cars cheat on diesel emissions tests.

The company’s ordinary shares fell 3.37% in midday trading on Tuesday in Europe to €108.90 per share.

The scandal over emissions cheating widened on Monday when the US Environmental Protection Agency (EPA) said that Volkswagen installed software on thousands of Audi, Porsche and Volkswagen cars with six-cylinder diesel engines that allowed them to emit fewer pollutants during tests than in real-world driving.

Volkswagen denied the charge, but faces the prospect of more fines and lost sales.

The previous revelations of cheating involved four-cylinder diesels in smaller cars.

Volkswagen has apologised for those cars and hired a law firm to investigate.