“Investigations are popping up across the globe to learn what damage has been done by VW, and the automaker says it has set aside over $7.3 billion to handle the crisis. However, Volkswagen says that might not be enough due to the massive number of vehicles potentially involved.”
What started as 500,000 vehicles in the USA has quickly ballooned to 11 million vehicles worldwide. The total cost of the fines, repairs, and lawsuit settlements are going to be astronomical. To the point where only setting aside $7 billion seems rather optimistic.
Volkswagen CEO Martin Winterkorn said that he is “endlessly sorry” shortly before resigning. He just rammed his ship headlong into an iceberg and took off with the only lifeboat.