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Martin Winterkorn has announced his resignation as the chief executive of the Volkswagen Group with immediate effect, the company has announced, in the wake of the scandal about a software cheat in American NOx emissions tests.

Big news, 1/3 has been wiped off the share price over night. Doubt we'll hear the end of this soon...

http://www.autocar.co.uk/car-news/industry/vw-emissions-scandal-how-story-unfolded



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In time VW owners will doubtless have their cars recalled and the engine management software remapped for free. Car recalls are not unusual and generally owners are happy to comply as the improved safety or operation of the car is for their benefit. The VW recall will be different as it will reduce performance and increase fuel consumption. Some owners may be reluctant to comply so the recall will have to be legally enforced.
 
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