Volkswagen shares collapsed by 16%

The shares of the German automobile concern Volkswagen at the beginning of trading in Frankfurt on September 21 fell by more than 16%. For comparison, the main stock index of Germany DAX by 11:00 Moscow time decreased by 0.5% to 9864 points.

By 11:20 Moscow time, the securities of the concern fell by almost 19%. The decrease in DAX more than the time exceeded 1%.

The decline in Volkswagen quotes has become the maximum in almost six years, Reuters points out. The negative impact on the automaker’s shares was reported that Volkswagen was facing a fine of $ 18 billion in the United States due to environmental disorders.

According to the US Environmental Protection Agency, Volkswagen sold about 500 thousand cars with inappropriate software in 2009-2015, which made it possible to demonstrate underestimated volumes of harmful emissions and undergoes environmental inspections. We are talking about cars with a diesel engine, including Volkswagen Jetta, Beetle, Golf and Passat models.

Volkswagen has already reported that they are working with the investigation. The concern also suspended the sales of a number of diesel cars in the United States, writes The Wall Street Journal. In addition, the company apologized to consumers and launched an internal investigation.