Volkswagen emissions irregularities could affect 11 million vehicles worldwide as fall-out spreads outside US
VW set aside USD7.3 million in the third quarter for potential losses
Following news on 21 September that that the US Environmental Protection Agency (EPA) has issued a Notice of Violation (NOV) to Volkswagen (VW), while the California Air Resources Board (CARB) has issued an In-Use Compliance letter, over allegations that VW installed software, referred to as a "defeat device", to get around EPA engine testing for air pollutants, the markets and the wider world have been reacting to the potential costs and liabilities that could be incurred.
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